how do high stakes players cover their losses?

L

larsframars

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just a quick question: been looking at some cash game statistiscs for high stakes players and been wondering for a while how they cover their losses. do you have any idea? many of them are 500K-1M "in minus" yet they keep playing. where do they get the money from?

i'm not aiming at gus hansen etc and those other established guys that have multiple sources of income and are also established enough in the community to borrow money from each other. i'm thinking more of isildur and the likes. where do they get the cash to keep playing even though (at least according to statistics: http://www.highstakesdb.com/profiles/Isildur1.aspx) they are well below zero.

thanks!
 
coolnout

coolnout

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As far as Isildur1 he's so talented he'll never be broke. There's always gonna be someone to lend him money because he's a good player and can make it back.
 
thunder1276

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I just assume they have oodles of cash
 
forsakenone

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Isildur1 has several accounts on Ipoker as far as i know, i have seen a couple of those that are supposed to be his, he was about about 750k from 2 only.

here are a few: No_09 TheItalienStyle Zebul_ON (on Atraction network, it is not tracked by pokertableratings) Add0l0rata

i had more of the accounts that are probably his, but i can't remember them
 
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Martin

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read in pokerplayer I think that Gus was down $4M for the first half of the year.

That's a big loss doesn't matter who you are, surely his sponsors will be asking questions
 
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Trimming1

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tHEY HAVE A 100% RAKEBACK DEAL ON EVERY SITE. tHEY HAVE A STAKED % OF THIER BUY-INS,SO ALL OF THIER $ ISNT AT RISK.
 
JohnBoyWWFC

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The hourly wage they get paid for sitting at table is pretty hefty, so I guess that pays the bills. And it's the same if you're sitting playing the Daily Dollar or grinding $500/$1000 PLO.
 
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Chemist

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Isildur1 is obviously a special case, firstly nobody really knows who it is and secondly they (He or She) are very high profile. But there are many who would love to invest.
Tony G made an offer.
http://www.partypoker.com/blog/tony-g/i-will-stake-you-isildur1.html
Isidur initially agreed but then pulled out due to fears of losing anonymity.
And the downfall was caused by cheats using notes and trackers because the username wasn't anonymous.

But to answer OP
Some don't they just have to take it on the chin get a job and start again.
Some are wealthy business people so it doesn't matter.
Some get staking deals.
Some are sponsored pros and it isn't even their money.
And most of us just aren't in those circles for it to really matter.

But it looks like you might be asking in the hope of finding such funding,
just a minute,
Lars are you Isildur?
 
nc_royals

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I just assume they have oodles of cash


I think you'd be surprised how many big name poker pros go broke and need backing.

Example: Gavin Smith, Chris Bell &Jean Robert Belland all were struggling with money before the wsop. Bell and Smith won a bracelette so hopefully theyre back on there feet
 
OzExorcist

OzExorcist

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On the sponsorship / 100% rakeback issue Isildur isn't sponsored so none of that applies. And even for players that it does apply to $35/hr and 100% rakeback wouldn't even come close to covering losses at the nosebleeds. It might be a little different for someone like Gus that's actually a member of Team Full Tilt as opposed to just a regular sponsored pro but I still doubt they're paying him the kind of money where he can eat a $4M loss and be able to make it up.

forsakenone has it right on Isildur's count, BTW - he's supposed to have made loads of money on untracked sites under a number of user names.
 
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davidjames

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Most of the high stakes players have friends willing to lend them money if they know that he/she is a winning player. In the end, a winning player will always have extra money to deposit.
 
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