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Feel Better About Yourself

BooniconBoonicon Member Posts: 130
edited May 2010 in Poker Chat
If your having a bad time go read a bit about ARCHIE KARAS.  $50 into $40 million and then back again in 3 years.  I bet your varience doesn't hurt that much.

The reason I decided to read up on this guy is because he was mentioned in an article in the new Poker Player magazine.  I don't know if Nick Wealthall still any links to Sky Poker, but he wrote a very good atricle on Pg 59 of the newest issue.  I would advise having a read. 
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  • monkey123monkey123 Member Posts: 590
    edited May 2010
    In Response to Feel Better About Yourself:
    If your having a bad time go read a bit about ARCHIE KARAS .  $50 into $40 million and then back again in 3 years.  I bet your varience isn't that bad. The reason I decided to read up on this guy is because he was mentioned in an article in the new Poker Player magazine.  I don't know if Nick Wealthall still any links to sky, but he wrote a good atricle on Pg 59 of the newest issue.  I would advise having a read. 
    Posted by Boonicon
    Wow the guys a ledge 3 years without a single reload !!!! bet he is well chuffed ;)
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  • Mr_MiyagiMr_Miyagi Member Posts: 2,031
    edited May 2010

    I bet he lost $39million playing AQ too.

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  • freechips1freechips1 Member Posts: 861
    edited May 2010
    similar story i found in barry greensteins book ace on the river page 108

    in 1993, las vagas.  a wealthy poker player shot pool with a dice player who had borrowed a few $k and took on a couple of partners.  they started at $5k per game and ended up playing $20k a game.  the dice player won aboyt $300k for the session.  when they left the pool hall the poker players car wouldnt start, the dice player gave him a lift home in his delapidated old car.  the guard at the gated community where the wealthy poker player lived wouldnt let the car through.
    they played several other times increasing the stakes along the way, over a month the dice player had won $2mil befor the poker player quit.  he used this money to shoot craps and play big HU poker, in 2 months the dice player had over $30mil.  he owned near all the 5k chips at binions casino. befor the year was over he had lost it all at craps and poker.
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  • bobcat52bobcat52 Member Posts: 568
    edited May 2010
    christ on a postcard!.....

    If  I amassed that amount of dosh I wouldn't blow it all. I'd bank it and go back to low limit hahaha!
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  • HAL_9000HAL_9000 Member Posts: 216
    edited May 2010
    These unfortunately are the bare truths of poker and this happens on a massive scale at smaller levels, people invariably go bust when playing Poker at all levels. its just a question of how important the money you had was to you. If it was that important then you would not have gone bust.

    Keep Smiling
    HAL_9000
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  • robcrobc Member Posts: 521
    edited May 2010
    I read this article in the magazine was a real eye opener glad poker player showed the other side of the story aswell
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  • dantb10dantb10 Member Posts: 583
    edited May 2010
    moral of the story - know when to quit!!
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  • elsadogelsadog Member Posts: 5,677
    edited May 2010
    In Response to Re: Feel Better About Yourself:
    These unfortunately are the bare truths of poker and this happens on a massive scale at smaller levels, people invariably go bust when playing Poker at all levels. its just a question of how important the money you had was to you. If it was that important then you would not have gone bust. Keep Smiling HAL_9000
    Posted by HAL_9000
    True but ........ if money was that important to you, you would never have won it in the first place.
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  • Action_DanAction_Dan Member Posts: 341
    edited May 2010
    Whilst you have to acknowledge his "talent" or "balls" for spinning $50 into $40 million, it's near impossible to respect the man - on one hand it's glamorous story with insane figures involved but the reality is he couldn't stop himself when the odds/results were in his favour so lost everything...you can't respect that! It's an obscene amount of money to gamble away even if you don't value or care about losing it!
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  • freechips1freechips1 Member Posts: 861
    edited May 2010
    i have another story of a guy from supersystem in the 70s, i will post it tomorrow or later on, its a bit similar to the first one.

    it is the story of archie, $40 mil in the 70s that would be over 100mil today and this guy still plays the WSOP today.
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  • HAL_9000HAL_9000 Member Posts: 216
    edited May 2010
    In Response to Re: Feel Better About Yourself:
    In Response to Re: Feel Better About Yourself : True but ........ if money was that important to you, you would never have won it in the first place.
    Posted by elsadog

    Elsadog you miss understand the statement there is a deep truth in it.
    Every time you sit at a poker table you should be happy to sit there to win money and also be concerned not to lose money but we must accept the possibility of losing the money therefor it matters not how much is lost only how much the loss mattered to that person at that point in time. Its a bit philosophical I know but hey at least its not a bad beat tale of woe :)

    Keep Smiling
    HAL_9000
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  • BooniconBoonicon Member Posts: 130
    edited May 2010
    Yeah theres something to be learnt about bankroll management somewhere here...  The article goes on to explain that very few make a lot of money from a magical short term run of fortune.  Profitable poker is a long term grind, the way to be successful is to put in the hours and slowly build up a bankroll.  It seems to be a trait of 'old school' poker to gamble more and build faster, whilst running the risk of loosing the lot, especially in vegas.

    Im sure the guys playing the highest levels on here will tell you that it took a lot of time and effot to get to where they are, and its good to be reminded that working your way up slowly is always better than lucking your way into the millions and losing it.  Im not sure if you saw the article about Mickey Wernick last issue Robc, but this is a refreshing reminder that some players who have played at the top can still end up at the bottom, and definatly illustrates the importance of not getting carried away with your BR.
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  • HAL_9000HAL_9000 Member Posts: 216
    edited May 2010
    Its pretty much the same as people putting £50 into the 50nl then winning a big pot and moving up the levels eventually they meet Sparce or Lolufold or WeAreOnTv and lose the £50 they started with along with the profit. Well with many people this is inevitable, wether it be a good player that takes it or usually the Casino, I am not a gambler in so much as when I go to the casino I only play Cash Poker no Roulette or Blackjack etc This gives me a great advantage because in the Casino there are loads of players that Like to gamble, All I do is wait patiently until I have a situation where I am happy to gamble. These suckers that win and lose big are just part and parcel of poker its the same in business and life and its our responsibility to try to get there money before they donk it off to someone else.

    Keep Smiling
    HAL_9000

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