Sunday, 19 October 2014

Phil Ivey (Part 1.)

Current standings 18.00 BST October 19th 2014: 

The Safe Method  -1.18 pt. (This includes 1 pt Man Utd. @ 11-2 & 0.1 pt @ 8-1 to win the Premier League as lost money)

The Dangerous Method +2.44 pts (This includes 2 pts Man Utd. @ 11-2 & 0.1 pt @ 8-1 to win the Premier League as lost money.)

TheBaseballTipper 2014  +2.29  (Minimum profit. This will be greater if San Francisco Giants win the World Series.  It has increased because San Francisco won the National League Pennant.)

Outstanding bets for TheBaseballTipper 2014:  1 pt San Francisco @ 5-1.  0.1 pt each, Kansas City @ 50-1 and San Francisco @ 18-1 to win the World Series.  

TUB  -487.84 pts The loss figure has reduced because San Francisco won the National League Pennant.

Not a great weekend, but the bookies had made a much better fist of odds compiling this week.  No mistakes by them means smaller profits or even a loss.  When the odds are against you, if you keep on playing you will eventually lose.  We were betting on fractions of a point in our favour.  One more result and we'd have shown a profit.  As long as those percentages are in our favour we will eventually hit our profit targets.  It is an axiom of gambling that the only time to play is when the odds are in your favour, which brings me to Phil Ivey.  If you haven't heard of him he's one of the best poker players on the planet and he's also one of the shrewdest gamblers too.

He had a fantastic night on the tables in Crockfords last year winning £7,200,000 only for Crockfords to accuse him of cheating and refuse to pay.  Here's a link to a column written by Victoria Coren that explains what happened.  

Before I give you my tuppenceworth, in a day or two, I reckon that you should have a read and make up your own mind.  When you've done that, come back and have a look to see if your  view of it corresponds to mine.  I think it might spark a lively debate...

Value Is King! 

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