bobbys room

Running Bing

Im sure you all know about the high stakes room at the bellagio were tens of thousands changes hands. my question is where does the money come from? If the game is profitable for the players there must be someone consistently losing. I know youd get a few rich guys sitting in the game just to say they played but surely this would be the exception rather than the norm. Where does the money come from the rest of the time?

karlh

i think an awful lot of players overestimate their own skill level and underestimate the skill needed to play at that level, presuming that having the money to sit down with is enough.

with the current boom, i'm sure there's a long line of rich fish wanting to say they bluffed Phil Ivey off a pot etc.

Lord Nikon

I would assume there is a buy-in.

Hitchhiker's Guide to...

same thing in the stock market. it is estimated that only 5% of stock market trading is for proper reasons, the rest is purely because of people having an above average belief in their own ability...

Lafortezza

Is this the $4k/$8k game in the Bellagio? They get regular rich business men/tourists/oil barons who come along and splash a few million in the game, just to say the played with the best players in the biggest game. All the pros that you'd recognise basically pass money among themselves until the next fish arrive. Although I think Barry Greenstein and Chip Reese are the biggest winners.
There was a rumour that they invited Mr. P Hellmuth to the game saying that he could choose the game/rules/stakes. He declined.

DubTony

lafortezza wrote:

... Although I think Barry Greenstein and Chip Reese are the biggest winners.
There was a rumour that they invited Mr. P Hellmuth to the game saying that he could choose the game/rules/stakes. He declined.

LOL, that just goes to show what they think of him.

If anyone's seen ESPN's TILT, it gives you a pretty good idea of where the money comes from. Although I'm sure Messrs. Greenstein and Reese don't get into the cheating thing.