Phil Galfond Running Bad, $800k Below Equity

Phil Galfond Running Bad, $800k Below Equity

Wednesday, 26 August 2009

In his latest blog at, Phil Galfond has revealed how draining it is being a high-stakes professional at the nosebleed stakes when you’re on the other end of those six-figure wins.

“I think I need to come to terms with the fact that I can't rely on high stakes poker for my income,” said the second-highest Full Tilt earner of 2008. “My EV is still very good, but I need to have other reasons for playing: the challenge, fun, pride. Playing 50k hands a year of 300/600+ for the money is just setting myself up for disappointment. Even with a decent edge, I can't expect to come out a significant winner more than 60% of the time.”

In his blog, which can be read at without paying the sign-up fee, Galfond discusses the psychological drain of poker and how players can become trapped into a cycle of destructive tilt and negative thinking.

He should know – to accompany this blog post, he posted a graph showing his actual winnings vs. his all-in EV – he is currently running $800,000 below equity at $300/$600 – about 15 buy-ins, he confirms.

That should make you feel better next time you lose $100 at $0.1/$0.25.

Tags: Poker News, Phil, Galfond, Running, Bad, , $800k, Below, Equity