Comments on: Cada folded on job, college for poker life http://michigancardplayer.com/cada-folded-on-job-college-for-poker-life/ A Community For Michigan Poker Players Mon, 16 Jan 2012 22:11:23 +0000 hourly 1 By: Ray http://michigancardplayer.com/cada-folded-on-job-college-for-poker-life/comment-page-1/#comment-477 Ray Wed, 17 Mar 2010 01:17:36 +0000 http://michigancardplayer.com/?p=1421#comment-477 Thanks Ron for taking the time explaining. Thanks Ron for taking the time explaining.

]]> By: Ron http://michigancardplayer.com/cada-folded-on-job-college-for-poker-life/comment-page-1/#comment-476 Ron Wed, 17 Mar 2010 00:24:07 +0000 http://michigancardplayer.com/?p=1421#comment-476 He had a backer because he played a lot more than just one event, which when you add up all the entry fees to the events end up be more than 6 figures, which is a lot of money to personally put up at time. There can be a lot of variance in tournament poker, ie: you can get your money in w pocket aces against pocket kings, which statistically over the long run will win a lot more times then it loses, but in a tournament it's the short term, if you bust, your out, no second chances and that one time the kings catches a set on the river and your aces get cracked and you go home, despite the fact that you might've completely out-skilled that particular player, so you get backers to reduce your variance. It's a business decision. Just like successful real estate investors and flippers. They can afford to buy their own investments outright that they plan on re-selling in a short amount of time, but they work with banks, mortgage companies, and 3rd party investors, which also reduces variance. It's called using leverage. The less money you spend upfront on one or two things the more money you have to extend to other things in order to have multiple ways to increase your profits and everyones happy. Donald Trump is king of this. ask him how it works. or maybe you can come up with all kinds of answers you can attribute to the Don. Poker is much more complicated than just a card game. The ones who understand that make lots of money and the ones that don't are just gambling (And Losing) He had a backer because he played a lot more than just one event, which when you add up all the entry fees to the events end up be more than 6 figures, which is a lot of money to personally put up at time. There can be a lot of variance in tournament poker, ie: you can get your money in w pocket aces against pocket kings, which statistically over the long run will win a lot more times then it loses, but in a tournament it’s the short term, if you bust, your out, no second chances and that one time the kings catches a set on the river and your aces get cracked and you go home, despite the fact that you might’ve completely out-skilled that particular player, so you get backers to reduce your variance. It’s a business decision. Just like successful real estate investors and flippers. They can afford to buy their own investments outright that they plan on re-selling in a short amount of time, but they work with banks, mortgage companies, and 3rd party investors, which also reduces variance. It’s called using leverage. The less money you spend upfront on one or two things the more money you have to extend to other things in order to have multiple ways to increase your profits and everyones happy. Donald Trump is king of this. ask him how it works. or maybe you can come up with all kinds of answers you can attribute to the Don. Poker is much more complicated than just a card game. The ones who understand that make lots of money and the ones that don’t are just gambling (And Losing)

]]> By: Ray http://michigancardplayer.com/cada-folded-on-job-college-for-poker-life/comment-page-1/#comment-440 Ray Thu, 25 Feb 2010 05:46:02 +0000 http://michigancardplayer.com/?p=1421#comment-440 It is interesting, that Cada has made $551,788 in online tournaments since 2008, yet he needed a professional backer to get into the World Series. Wow. Why couldn't he afford the buy-in? I'm thinking of all kinds of answers to which none I'm inclined to attribute to Joe. I'm feeling sick. It is interesting, that Cada has made $551,788 in online tournaments since 2008, yet he needed a professional backer to get into the World Series.

Wow. Why couldn’t he afford the buy-in? I’m thinking of all kinds of answers to which none I’m inclined to attribute to Joe. I’m feeling sick.

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