Daniel Negreanu Admits To Back-To-Back Losing Years At Poker Tables

Poker pro Daniel Negreanu has cashed for more money in poker tournaments than anyone else in history, but he has now posted two straight years of losses.

Negreanu, a Poker Hall of Famer, said in a blog post that he spent $2.87 million on buy-ins last year. He cashed for $2.79 million, which means he lost about $86,000 on 2017. He made nine final tables, but he failed to capture a win. He said that he played 71 events, with an average buy-in of roughly $40,000. He was down essentially two buy-ins on the year, which was virtually break-even, according to the 43-year-old.

Factoring in the time spent at the tables, Negreanu lost $144 per hour, he said.

The performance follows a 2016 in which he was in the red about $1.24 million after cashing for only $300,000 on total buy-ins of more than $1.5 million.

Negreanu said that poker fans shouldn’t be fooled by a figure such as $2.79 million in cashes because of the stakes that are commonplace in this day and age of tournament poker.

“My 2017 was a good illustration of the illusion that players cashing for $2 million in a single year is a great accomplishment,” he wrote in his Full Contact Poker blog. “In the old days, before super high rollers, you could all but guarantee that cashing for $2 million would mean the player had a winning year. Well, the truth is, if a player plays the full high roller schedule and cashes for $2 million, they are all but certain to have had a losing year, and that’s before expenses.”

The six-time bracelet winner said that his tournament accounting doesn’t include money he made from his deal with PokerStars. He said he spends his own money on the buy-ins.

“I make the decision to play and risk money that I’ve earned,” he said.

Of course, Negreanu’s two-year downswing came after a massive winning streak. He said that over the past five years he is up $8.7 million, thanks to cashing for $19 million on $10.3 million in buy-ins. More than $8.2 million of those cashes came in the 2014 $1 million buy-in at the World Series of Poker, an event that is set to return in 2018.

Source : www.cardplayer.com

You May Also Like

NYC Poker Tour