“When I told people in school about my past a lot of times they thought I was a liar,” he said. “Then they would Google me and look at me like I was the dumbest person on Earth.”
Can someone please explain what is he doing about markup. I understand that he says that the markup is high and if it is lower it is more efficient and better for the market as a whole, but i don't understand "thebankoftimex" and the way he will make profit through it and what will it achieve?
Can someone please explain what is he doing about markup. I understand that he says that the markup is high and if it is lower it is more efficient and better for the market as a whole, but i don't understand "thebankoftimex" and the way he will make profit through it and what will it achieve?
+1
Was reading this bank of timex thing as well and was asking the same thing.
Basically he believed people were over valuing themselves so what he did was provided what he thought was a more accurate markup and allowed people to buy pieces of that player from him effectively forcing said player to lower their markup to compete.
If said player cashed timex would pay out accordingly. Hence it was only some players and major events that could be tracked.
He was acting like the "house" banking on the fact also that most tourney players bust but he has collected a lot of BAP
He could only be profiting if he buys from loosing players no? since a winning player will be winning in the long run which means timex will be loosing money.
He could only be profiting if he buys from loosing players no? since a winning player will be winning in the long run which means timex will be loosing money.
Buying action is like a lottery ticket. You could easily buy action on Phil ivey who is a long term winning player but good luck timing the market and in the mean time think about all those people buying action when he misses a cash in a super high roller. 5pts on 250k plus mark up adds up fast comparing to have to pay out 5pts on 4M
I liked what Timex was doing. But in terms of the poker industry as a whole it's bad, since he is taking a lot of equity out poker, which I agree with the posts. On top of that, he possibly might get in a lot of trouble operating a gambling business out of the US.
I liked what Timex was doing. But in terms of the poker industry as a whole it's bad, since he is taking a lot of equity out poker, which I agree with the posts. On top of that, he possibly might get in a lot of trouble operating a gambling business out of the US.
Pretty much in conclusion, we need bad players to keep playing tournament poker, and we need bad backers to keep paying over priced markups to keep them in the game?
Comments
Someone should do a feature on the millions of dollars won by people who played at The Shop. It seems hard to believe.
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http://www.pokernews.com/live-reporting/2014-aussie-millions/250K-challenge/
haxton and ivey HUs for $4mil right now.
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On second thought, forget school and put your wiinings into RIM shares or the numerous GTA and BF BAPs offered on this site.
Wonder if he will still bother to try and get a Fallsview Classic seat at cost and refuse to pay a markup?
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+1
Was reading this bank of timex thing as well and was asking the same thing.
If said player cashed timex would pay out accordingly. Hence it was only some players and major events that could be tracked.
He was acting like the "house" banking on the fact also that most tourney players bust but he has collected a lot of BAP
Pretty much but like all types of action the house always wins and that is what he was doing
Buying action is like a lottery ticket. You could easily buy action on Phil ivey who is a long term winning player but good luck timing the market and in the mean time think about all those people buying action when he misses a cash in a super high roller. 5pts on 250k plus mark up adds up fast comparing to have to pay out 5pts on 4M
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