I have been involved in the poker scene since right about the time everyone wanted to come in, I have seen the best and the worst that poker has to offer. Now that the market for poker is slowing people are feeling the crunch; people that you did not think would. It is even worse when you think of how much discretionary income some of these people should have. The latest round of poker players to go busto includes people that receive residual incomes from online sites, reportedly to be in the millions of dollars. I mean how sick do you have to be to have that much disregard for money? I will tell you exactly how sick, they are addicted.

As I mentioned in my blog there is no benefit to me to disclose information that I know but let me give you one example. There is a very well known player that I used to play with in the $15-$30 games on Party Poker. That was the biggest limit back then so we just six tabled that. Turns out this guy is close to 10 million in debt, that is unbelievable, I mean how stupid are his creditor’s?

The worst part about all of this is that many people idolize poker players because they are on television. I can tell you as someone who has had to collect on more than one 50k debt from supposedly “idol worthy” people that the worst comes out when people go broke.

Life on the poker circuit is not the glory that people think it is and it is damn expensive. If you have leaks in your personal life they will get amplified. Next time you see someone win a couple million on television you might want to think of how long they will keep it because most do not.