Phil ivey Tom dwan new prop bet

Has anyone watched the most recent episode of the $100,000 Buy In PLO Poker After Dark. Dwan and Ivey have now made what could be the largest prop bet in poker history. Dwan gave Ivey $40,000 to have the ability to play heads up $50,000/$100,000 Horse at anytime over the next year or over the course of 100,000 hands. Phil may buy out at anytime for $1,000,000 and at the end if Ivey is a winner, as expected, he must give dwan back 96% of his winnings. If Dwan is the winner he does not have to forfeit anything and he also gets an additional $1,000,000 from Ivey. I don't know. I think this bet is in Durrrs favor.
(look guy si really dont undrestand this prop bet can any one tell me what phil ivey win from this prop bet beside the lame 40 k)

he wants to defeat durrrr at any cost and prove he is still the best.

yea i quess thats the only advantage and if he does beat durrrr i quess the only thing he gets is that he beats durrr because he isnt getting any money for it.the way i see it is even if he beats durrrr he still looses

i talked to a friend and he explain it to me dwan paid ivey 40 k as dwan can call ivey any time to play heads up stakes 50 k 100 k if ivey cant play dwan will get 1 million and they gona play 100 k hands in this 100k hand if phil ivey win 10 mil from dwan he will return to dwan 9.6 mil and take the 400 k as a win but if dwan win 10 mil he will keep it.
(i dont know but i dont like the odds of ivey in this one why would he put that kind od money aginest in my propective the most dangerous player alive it just look to me as trouble vs risk it dont worth it )

It doesn't sound like a wise bet at all. Maybe there's more to it? I don't know, but Ivey doesn't seem like the kind to take a bet like this. It's putting him in a position where he can't win. He might as well just give Durrr a couple mil now and not bother with it.

Cliff notes:

- Chances are this bet never gets off the ground. Dwan says so himself.
- The game is HORSE so Ivey is a massive, massive favourite
- Even if he only wins at 1BB/100, after 100k hands Ivey would have won $4 million after giving Dwan his 96% back.

It seems so far the bet works like this:

Dwan has paid Ivey $40,000 for the right to play him in a heads-up HORSE match that will last 100,000 hands. Dwan has until the end of 2011 to start the match. If he doesn't, Ivey keeps the $40,000. If he asks to start and Ivey refuses (never going to happen BTW), Ivey owes Dwan $1 million.

If Ivey finishes the 100k hands with a profit he'll give Dwan 96% of his losses back.

The effective stakes for the challenge are supposed to be $50k/$100k. Keep in mind this is limit so those are the small and big bets, not the blinds. Whether the match would actually be played at those stakes though, or whether the match would be played at $2k/$4k and Ivey would pay out whatever multiple was required at the end in the event that Dwan finished up is a bit murky at this stage.

Whether or not buyouts are allowed is also apparently a little murky at this stage. Whether or not there's also a side bet on who is up after the 100k hands is murky as well but it doesn't look like there is.

Lastly, there's a condition that Dwan isn't allowed to hire a specialised coach or get advice from someone he normally wouldn't. So in his words he could ask someone like Phil Galfond for opinions on a hand because that's something he does regularly but he couldn't, say, pay Doyle Brunson to teach him.

That's what the story seems to be at the moment. Onto the important stuff though:

First thing's first, Dwan himself has said in the past day or so it's very likely this bet will not go forward. So chances are that by the end of the year all that will have happened is that Dwan will have given Ivey a $40k gift.

Second, if this thing did get off the ground it would take forever to complete as Ivey isn't much of a multi-tabler and we've already seen how long the existing Durrrr challenges (which are four tables and half the number of hands) can be dragged out for.

Third, and most importantly, anyone who thinks Dwan is any kind of favourite is ignoring the fact that the game is HORSE, not NLHE or PLO. This is definitely Ivey's game. He's generally considered to be the best Stud player in the world, among the best Stud-8 and Razz players in the world, he beats the best in the world (online and live) in LHE and his Omaha-8 game will hardly be shabby either. Dwan would be a serioud dog in this format, which is why he himself is saying it's very likely that this whole thing just won't happen.

Last, for those saying that Ivey doesn't stand to win much, I'm assuming you're focussing on the bit where he gives 96% of Dwan's losses back. You have to remember the stakes that are being played: even if Ivey only wins at 1BB/100 he'd be up $100,000,000. That's right, a cool $100 million. Even after giving 96% back he'd still be up $4 million, and that's if he only wins at 1BB/100. The other likely scenario is that Dwan loses a few million to him and then buys out for a million more or something like that.

Great post cleared up the rest of the thread nicely.

This is clearly in Dwan's advatange.If Ivey wins this challenge ,he will get more respect but less money.Its an strange bet,and as BluffYou123 (http://www.cardschat.com/members/bluffyou123/) said,Ivey doesn't look like a the kind to take a bet like this.

Not true I'm afraid - see above. This is clearly not in Dwan's favour and you can be almost certain that for Ivey (both of them actually) it's all about the money, not the respect.

The thing is that Ivey is already considered to be one of the best (if not the best) mixed game players in the world. How much respect is he really going to get for beating up on Dwan in this format? Sure, Dwan is a great PLO / NLHE player who is rightly feared and respected in those games. But this is HORSE and while I'm sure Dwan is no mixed game slouch I doubt he's anywhere near even the top hundred in the world - even Dwan himself is admitting he'd be seriously outmatched.

the limit games are gonna favor ivey big, this is a bet that durrrr will not win. i'm guessing this is gonna end in a buyout once ivey gets a big money lead, if it even happens.

i'm pretty sure these were not the full set of guidelines stated in the bet. ivey doesn't have to earn anymore respect, he probably doesn't even care about what little respect he gets for beating dwan at HORSE, a format where he clearly excels in and dwan clearly not good at.

ivey just cares about money, and this bet is -----------------ev.

It's all largely irrelevant now of course since neither of them will be able to play the match online and LOL at even contemplating a live match that lasts 100k hands.