Archive for the ‘poker lifestyle’ Category

May 25, 2012

Three Survival Tips For the WSOP

Hoodies and drag queens (what else?) could give you the edge

In 2005, veteran poker blogger and author of “Lost Vegas: The Redneck Riviera, Existentialist Conversations with Strippers, and the World Series of Poker“  put together his “Top Ten Survival Tips on Surviving Las Vegas.” Dr. Pauly’s sage advice, which ranges from hydrating to the proper tip for a stripper, stands the test of time.

For those of you heading out to the WSOP, here are three other survival tips you might not otherwise think of. (If you have others, chime in): 

Think Layers: Thousands of body heat-generating players come together each day to test their poker skills at the WSOP. To compensate for the pending crowd, the venue is super-cooled before each day’s play. As a result, there can be large temperature swings over the course of an event. A T-shirt, long-sleeved shirt and hoodie should be part of your daily clothing repertoire.

Go Smokeless: During event breaks, smokers have to coin-flip between a bathroom visit and a nicotine fix. Instead of opting for adult diapers, consider smokeless nicotine solutions like the patch or snus. Both offer an even distribution of nicotine over time, making sure you stay focused on your hand and not your nicotine Jones. Check out Dr. Snus for everything you need to know about this smoke-free tobacco alternative.

Find Your Ten-Pin Zen: Poker is a solitary endeavor. Bowling with friends is a near perfect yin to poker’s isolating yang. In close proximity to the Rio, both The Orleans and the Gold Coast have ample and cheaply priced lanes. And if you have a hankering for something on the campier side, consider a trip downtown to the newly opened Drink and Drag. The club has 12 lanes and is staffed by “America’s best drag queens.”

Posted by at 1:24 pm

Rio Rap Party

@SrslySrius gets psyched for the WSOP

It’s the kind of built-in customer appreciation and multimedia word of mouth a true evil empire could only dream of … or maybe it’s just free advertising Caesars officials have grown to expect:

My how far we’ve come since the days when Jeff Madsen held the mic for the WSOP.

Posted by at 12:44 pm

May 8, 2012

A Bigger, Louder WSOP for 2012?

Table talk and celebration encouraged at Series, required at feature tables

Jack Effel expects a “huge and great” 2012 World Series of Poker.

It certainly won’t be a quiet one.

“The poker room is not church,” Effel, the tournament director for the past 6 years, told poker media today. “You can talk in the poker room. We just feel that we need to set the tone to put the fun back into poker.”

A trimmed down WSOP TD Jack Effel promises to go easy on players who want to chat it up at the tables this year.

Table talk and celebration are allowed once again — and even encouraged, Effel and WSOP executive director Ty Stewart said.

“We’re going to relearn what it’s like to be at a poker table, understanding the verbal strategy,” Effel said.

Just don’t expose your cards, or talk when someone else has yet to act. Essentially, you can yap all you want if you’re closing the action.

This is something of a level, as one reporter pointed out: WSOP knows the ESPN cameras are on all the players who know the cameras are on them.

“We’ve rewritten the rules to say we want you to celebrate, just don’t get crazy,” Effel added, putting the kibosh on the 4-year-old “Hevad Khan rule.”

Players at a feature table are even required to announce their action.

At any given point between May 27 and July, there will be as many as 500 poker tables at the Rio. That’s the largest ever for a single event, Effel said.

This year’s WSOP offers 61 bracelets for events including a $1,500 “ante only” event, a $2,500 4-max event, a $3,000 heads-up NL/PLO event, and a $5,000 mix-max event. They’ve also added a couple quirky non-bracelet events, such as the $560 bracelet bounty, where players receive $500 for knocking out a bracelet winner, and a $560 (per player) doubles tournament, where players share a chip stack and alternate at each level.

They also announced the return of daily deep stack tournaments.

Stewart feels good about the prospect of a “second boom for poker,” even with Full Tilt player funds in limbo a year after Black Friday.

“This game is stronger than we all even hoped,” he said. “It has become truly global, and it is here to stay. It appears poker’s darkest days are behind us.”

A few other highlights from the conference call:

  • With a series of satellite events and a $25,000 mega satellite, the directors expect to fill the 48-player $1 million One Drop charity tournament to reach capacity.
  • Instead of the standard food comp, players this year will receive Caesars Total Reward credits for bracelet events based on the size of the buy-in.
  • The main event final table has been pushed up to Oct. 28, instead of the following month, when it would have interfered with the presidential election.
Posted by at 1:10 pm

April 20, 2012

Keys to Success, I Mean Failure

Curse of the keychain swag

Mark Cuban wrote that a sure sign of failure for any start-up is too much promotional gear. I’ve always kinda agreed … believing too many pokerpreneur types come with all the hype but not an actual product (let alone value proposition). But who am I to complain? Everyone knows Pokerati’s business model: to run a haphazard media empire and someday retire by collecting poker swag for future sale on eBay.

Totally coincidental, I happened upon this keyless keyring while cleaning out one of my poker closets last week and couldn’t help but lol-chuckle that none of these three operations made it to a second birthday despite significant hype and promotional spends.

epic ppt all in energy keychain

Oh yeah, and Pokerati turns 8 years old today or tomorrow. So does Full Tilt Poker.

Posted by at 5:57 am

April 19, 2012

California Losses vs. Vegas Wins

On the road to heads-up victory?

Me in Oceanside, CA

Ahhh, California...

My brother Chris and I, hiking Runyon Canyon above LA

If you’re reading this blog, you’re probably either a poker player or fan of the game in some fashion. You know that the games in Las Vegas are plentiful on any day of the week. The weekend crowd consists of tourists from all parts of the US escaping their routine lives for a few days in the desert. During the week, the player ratio skews more towards Europeans on extended holiday, mixed with the company conference crowd and conventioneers. There are always locals in the game and during the daytime, they can represent 50 percent or more of the table lineup, even at Strip properties.

At nighttime the ratio shifts more towards the out-of-towners, but where the tourists are, there will always be local regs scattered about.

It’s so fun playing a heads-up tournament. You get to play every hand… what more needs to be said?

As a poker player and/or fan, you might’ve heard that while Las Vegas is the gambling epicenter of the US, when it comes to poker, the true Mecca is actually located in Los Angeles. And after a recent return visit to my old stomping grounds, I was quickly reminded of that fact. The LA cardrooms are different in so many ways from their Vegas counterparts in everything from the atmosphere to the feel of the cards to the player makeup to what’s comped and what isn’t. At any one time in the Commerce, Bicycle, Hustler or any other casinos that occupy very non-glitzy East LA districts, you won’t find more than 1 percent of the player pool designated as “tourists”. No tourist is going to take time out of enjoying gorgeous Malibu or exploring the weirdness of Venice Beach to grind Commerce Casino. These places are packed with locals who love poker, love gambling, and very much love action. They absolutely have to… how else could you explain these folks braving horrific Los Angeles traffic to get to Bell Gardens to play $2/$3NL midweek? It’s true, you do get comped food from a rather impressive menu at the Bike, as opposed to free cocktails a la Las Vegas. But I have to assume it’s more than that. Poker has become a real part of several cultures that make up Los Angeles’ diverse demographics. It’s been that way for decades now, before the no-limit era and now well into it.

More…

Posted by at 7:18 pm

April 6, 2012

Tax Court Ruling Favors Poker Pros

Feds change stance on deductible expenses

David in Dallas sends an FYI about a big ruling in Tax Court that should prove rather beneficial to poker players:

The key take-away is that poker losses are now deductible for professional gamblers beyond your profits, so you can carry them forward and backward to offset income in other years. You can file on Schedule C instead of Schedule A, which limits deductibility.

Of course, none of you probably have any losses to deduct, but it’s nice to know that you have the right anyway.

Wow. You know taxes and finance aren’t really my game, but if David’s correct, this reversal of interpretation seems nearly as big as the DOJ’s December flip on the Wire Act — microeconomic change poker players can believe in!? Even if my attachment of significance is a bit of a stretch, it probably was about time for the Feds to acknowledge that yes, they know now (after years of investigation), playing poker even semi-professionally comes with legitimate business expenses beyond your buy-in …but bummer for Dan personally, as losses suffered in the Pokerati game apparently are not deductible as marketing write-offs. (Crap, there goes my equity.)

Kinda a big step for poker players seeking a certain legitimacy for their profession. And who knew … “Tax Court,” it turns out, is a real place, not some reality show on Bravo or The Learning Channel.

A quick-and-dirty excerpt from the new issue of the (always-sexy) Journal of Accountancy that jumps right to the end for stuff that matters for poker players who at least occasionally find themselves reporting net-positive results is below:

More…

Posted by at 12:00 am

March 26, 2012

Poker to the Masses

Chris Moneymaker on tour in documentary as accidental movie star, subcultural icon

For those who weren’t up at 6am pacific last Thursday watching news, Chris Moneymaker appeared on Morning Joe (MSNBC’s start to the mainstream news day) with Doug Tirola, director of ALL IN: The Poker Movie … the documentary you’ve been hearing about for years (it won an award at the Cinevegas Film Festival three years ago!) that really has been finished thanks to Black Friday providing an ending, and is finally showing for the non-poker public:

While poker people may think this film is a fine representation of the past nine years of our lives … the virtual parade of poker personalities telling the tale (including yours truly, ahem) in the most hyped poker movie since Lucky You got panned by had the New York Times rolling its eyes, saying, “in the interest of accuracy. It ought to be ‘All In: The Poker Propaganda Movie.’”

Fair-ish point by the NYT, but really, watch the clip above and you see a filmmaker who, after 5+ years shooting this film, is not so much a political activist as he is a religious convert.

Posted by at 10:47 am

Poker Player Tax Advice

Government wants its cut, and should you file a Form D-bag with your W-2G?

With April 15 right around the corner, poker players are undoubtedly thinking about Black Friday Anniversary Parties remembering in the normal-people world that the real “Black Friday” isn’t until November, and oh crap, you mean federal income taxes weren’t just part of the tournament entry fee!?! And while there isn’t a blank specifically on a 1040 for seized funds or PokerStars T$, poker players (particularly those with online money in play) might-should presume they are being looked at more closely than ever for Fiscal 2011 — assuming, of course, you haven’t already been under full investigation and/or negotiated an IRS settlement as part of turning state’s evidence in the cases against your former poker-mates.

OK, before I over-insinuate: some news-you-can-use for poker players looking to play it straight with the Feds:

Attorney Brad Polizzano (aka @taxdood) has a series on PokerFuse about various tax matters pertinent to poker players — such as rakeback, staking agreements, and Form 8-Ben Lamb, I think it’s called?

And Theresa Fox (@TfoxCPAinc) talks taxable income on Strategy with Kristy n — tackling matters for anyone with gambling winnings in play, especially those that may have transpired in some capacity across international borders:

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Posted by at 7:35 am

March 13, 2012

Is the Price of Poker Going Up?

Statistical Cost Survey for the 2012 WSOP

Vegas was hit hard by the bursting housing bubble and recession. As a result, WSOP-bound poker players found travel and lodging bargains over the past few summers. But with these and other ancillary economic factors in flux, 2012 could prove to be more challenging for frugal gamblers … unless you are an alcoholic vegan who flies no frills with no checked bags, rents a condo instead of getting a hotel room on (or near) the Strip, and opts out of any $1 million buy-in events. Then you should be OK.

Gas prices: If you’ve filled your gas tank lately, you know you’re paying more for a gallon of gas. On average, gasoline prices are running 7.8 percent higher than they were this time last year. If you’re planning a cross-country drive, you can anticipate some additional expense. Check out the gas prices by region here.

Airfares: Airlines are fairly efficient at passing on higher jet fuel costs to their passengers. Surprisingly, airfares to Vegas are substantially lower this year. Use Expedia’s “Trend Tracker” to see how much lower your route is this year over last. Low cost carriers have added flights to Vegas in the past year, keeping a lid on airfares. Spirit Airlines has added 119 weekly flights into Vegas since last year and Allegiant enjoy Air has added 32 flights per week — while higher cost carriers have cut back. Airport statistic geeks will McCarran’s monthly flight activity reports.

Hotel Rates: When MGM’s City Center opened in December 2009, it dumped more than 4,000 hotel rooms into an already saturated market. But the slow and steady economic recovery has been taking up some of the slack. As a result, the average daily rate (ADR) for hotels is higher this year. According to their latest financial statements, the ADR for MGM Strip properties is $127, up 10.4% from last year. The ADR for Caesars Entertainment’s Las Vegas properties is up 8.3 percent to $9.  The Wynn’s ADR is up 15.2 percent over last year, coming in at $242.

Condo/House Rentals: House and condo rental prices are marginally lower this year, according to the latest from HUD’s Fair Market Rents Data Set. If you and your friends are heading out for a prolonged WSOP stay, you might consider a short-term house rental. But be careful. Rental scams in Las Vegas involving foreclosed properties are not uncommon. Read this article to learn more about these scams.

Food and Beverage Prices: Overal, food and beverage prices are up 4.2% since last year. It’s especailly bad if you lived off hamburgers (up 10.6%) and coffee (up 15.4%). Vegans, however, will save this year (fresh fruits and vegatables are down 0.1%). And its not too bad for alcoholics. Stocking the bar at your condo will only be 2.1% more expensive this year. You can check out the BLS CPI report for more details.

WSOP Buy-Ins: If your goal is to play the most expensive event at the WSOP, you are going to have to fork over much more than last year. Last year’s $50,000 Poker Player’s Championship looks like a bargain compared with this year’s $1 million “Big One for One Drop” event. If $1,000 and $1,500 buy-in events are more your speed, however, you are in luck. The 2012 WSOP schedule includes two additional events in the weekend-warrior price range. Less good news for the frugal: juice is still 10 percent for these events (7 percent for entry fees and 3 percent for tournament staff).

Posted by at 12:36 pm

March 12, 2012

Oops, I Won Too Much Country!

Tom Schneider launches music career with EP

tom schneider poker country musicWe still love Donkeybomber ’round these parts; just haven’t written much about the famous author and ’07 WSOP Player of the Year lately because … well, um, how do you put this nicely when his biggest accomplishments since then include not having enough money on Full Tilt to actually lose anything, and maybe getting retweeted by @basebaldy AND Jack Effel? (Sorry Pokeratizens for missing the breaking news … )

Well you’re not gonna believe what our balder, gastronomically larger, bi-braceleted pal is up to now: Country music.

Seriously, have a listen to First 5-Song CD, Created in December 2011, a title he apparently shortened prior to mainstream release on iTunes with the simpler, more memorable “EP”, which some say could be subtle commentary on the plight of a one-time WSOP POY seeking recognition as a real pro by Epic Poker.

http://itunes.apple.com/us/artist/tom-schneider/id435732204

More…

Posted by at 7:30 pm

March 8, 2012

Festival of Nits, the Tourist Factor, and Swallowing Your Pride

Late-night lessons from the Trop

I think I was in Los Angeles at the end of last summer. Somewhat amazingly, that was the last time I was outside of the desert. I did go to Palm Springs with my girlfriend and met some family there for Thanksgiving … but that’s still in the desert. I didn’t go home this past Christmas for the first time ever in my life, and I haven’t left Vegas once in 2012. This can’t be healthy. I need to get out for a while.


    This was THE nit festival of all nit festivals. Your normal hourly rate simply does not translate when you remove the fun-loving, didn’t-come-to-fold tourist factor and replace it with the game-has-obv-passed-me-by-but-I’ll-still-sit-here-and-fold-for-$10/hr-zomg-dreams-do-come-true jaded older Vegas reg. I mean, it was truly miserable.

Las Vegas is awesome. We all know about the availability of booze and gambling 24/7, and the ability to keep whatever sleep schedule you desire. As cash game poker players, we never have to endure the pain of an alarm clock’s rouse, as Vegas embraces daywalkers and nightowls alike. The cost of living is relatively low, especially considering the quantity and quality of entertainment options available as compared to other cities with similar offerings, such as LA, San Francisco, Miami. If outdoor adventure is your thing, you can find plenty of that at places like Red Rock Canyon; hikes such as the Gold Strike near Hoover Dam, which takes you all the way down into the Colorado River; and weird natural beauty like the Valley of Fire. And for those less willing to leave Clark County, there’s the peaceful Summerlin suburbs, and the increasingly interesting downtown Vegas scene.

More…

Posted by at 7:37 pm

February 5, 2012

WSOP Main Event Champions: Where Are They Now?

Jerry Yang '07

We know about Jamie Gold’s poker residency at the Tropicana in Las Vegas — where he can be found playing 1/2 and apparently trying to fill the poker world’s Professor void by offering lessons that cost about as much as a college education. (The Jamie Gold Poker Room official launch party, btw, is Feb 17!)

But what about the rest of ‘em?

You can currently find Jerry Yang, the 2007 WSOP’s biggest winner and #20 on the all-time poker tournament money list, bussing tables while commanding an otherwise lackadaisical staff (according to Yelp) at Pocket 8s Sushi & Grill in central California. Um, pass the yum-yum sauce?

Via Pokerati’s resident Vegas grinder-thug @AndrewNeeme:

pocket 8s sushi and grill
Poker Fish: You wouldn’t believe how many of Jerry Yang’s relatives are always hitting him up for free sushi.

Posted by at 5:39 am

February 2, 2012

(Not So) New Episode(s) of The Micros

Award-winning poker cartoons for fun

Jeesh, everything’s so serious these days … or stupid. Either way, it’s been too long since we forgot to tell you about the latest from The Micros. It really was a funny episode a month ago. But like always, lol because it’s true!

And we have a bonus late episode — the Micros’ pitch for people to vote for them in the 2011 Bluff Readers Choice Awards, where Rose, Chase, and Tommy somehow got lumped in with all the podcast/video/live radio newsy shows (in the category The Poker Beat always dominated) and cleaned up.

Enjoy, if you haven’t already.

Posted by at 2:58 am

January 28, 2012

“Two Pair, No Good”

When bad luck and bad results go hand in hand

I had plans for my first post of 2012 to write about my new year’s resolution, which was to find more purpose in what I’m doing for a living … quite the challenge when your work day consists of picking out tourists to relieve of their vacation cash so you can pay your bills for another month.

Crushed, beaten, annihilated, squelched, wrecked … you feel helpless and empty and start questioning what you’re doing with your life and why you’re wasting so much money.

A new year is supposed to be a time when everyone is feeling the most hopeful and positive and have the brightest outlook on what the next 12 months may hold. I try to put a positive spin on everything and especially the things I write on twitter and in this blog with an audience in mind. I’m sure there are some people who take joy in other people’s down times because it makes them feel better about their own situation. But I just think it’s a better EV play to try and inspire people rather than give them something to wallow in.

I wish I could follow my own advice, but today I don’t see how.

More…

Posted by at 4:07 pm

January 10, 2012

Ring in the New Year/Era!

What it means when dozens are glued to live coverage of La's WSOP-LA win

la sengphet david clark wsop-c

Circuit Gangstas: La n DC celebrate their latest victory in LA by throwing gang signs.

La Sengphet took down another one on the WSOP-circuit — winning a $345 NLH at the Bicycle Casino in Bell Gardens, Calif. for her fourth WSOP-C victory (third in a ring-bearing event) and a $25k payday. Her other half, David Clark, made a final table the day before, and won his second ring just a couple stops earlier at WSOP-Tahoe. Their story is becoming sickeningly charming … perhaps even inspirational … showing that true love and poker success can go hand-in-hand for a couple of old-fashioned rounders making their way across an ever-unpredictable poker landscape.

(That, or … Go Team Pokerati!)

More…

Posted by at 2:35 pm