Phil Gordon Q&A on All Things Poker
May 7, 2008
Poker Pro Phil Gordon did a recent interview with those folks over at Freakonomics. Phil has always been an keen observer and no-holds commentator on the real life of the professional poker player. Here are a few of this comments.
Q: What percent of your success would you say is attributable to randomness?
A: Randomness, otherwise known as “variance” at the poker table is much bigger and more important than most poker players realize. I have a simple theory: change 10 river cards in any poker player’s tournament career and I would bet that they would be a losing tournament player for their career.
You might need to set aside players like Doyle Brunson here or maybe just up the number to 20 or 30 but Phil's point is correct. There are several bookkeepers and more than ten chiropractors who would be well known poker professionals today if that one river card had gone the other way. By the same token, there are a couple of guys walking around with a WSOP bracelet on their wrist who should get out before variance brings them down to their true skill level.
___________________
Several of the questions had to do with professional players and their gambling habits, I have grouped those answers together for Phil's harsh but realistic assessment of poker professionals and money management.
Q: What percentage of professional poker players would you consider to be compulsive gamblers?
A: Ninety percent of the “professional players” I know have some serious “leaks” that affect their ability to hold on to their money.
Whether it’s playing too big for their bankroll or betting on sports or casino games, these leaks have a way of keeping many of them completely broke no matter how much they win on the tournament circuit.
One of the “requirements” to be a great player is being able to divorce yourself from money and its value. Making good decisions at the poker table means that you must have the ability to “put a Ferrari” in the pot if it’s right to do so. That lack of respect for the buying power of money leads to financial problems for many of the best players in the world.
Q: What are the finances of some of the top pros like?
A: Some: poor, reckless, with no shot at improving long-term. Others: multi-million dollar mansions, $5-plus million a year income, and no financial worries. If I had to guess, I would say about 50 percent of the “name pros” you see on television on a regular basis have a negative net worth.
As I said, harsh but true.
___________________________
And some poker advice for us from Mr. Gordon, which might run contrary to the accepted wisdom.
Q: What skill is more important in Holdem: discipline in the range of hands you play, or the ability to read the other player?
A: Hand selection is the most important in my opinion. A blind guy who has good hand selection skills could win a world championship. A guy with 20/15 vision who picked up all the tells but played every hand might never win.
Q: What is the most dangerously deceiving starting hand for an amateur player in Texas Holdem?
A: It’s a tie … AQ, KQ, and QJ. Those are death hands to be avoided at all costs, especially if your opponent has made any aggressive move pre-flop.
And you thought he would say AK or maybe JJ, right?
Comments
Got something to say?