"A lot of poker players spend their whole lives chasing the score that I made." 2013 WSOP Main Event runner-up Jay Farber is still grounded and humble a year after his remarkable run—but he's also put some of his payday to use. Jay welcomes ALL IN inside his new house in Las Vegas, where the grand tour includes a custom poker table, two new cars, artwork, a home theater, a bottle of Screaming Eagle wine, and his "bachelor's fridge," stocked with beer, cake, and pizza. www.ALLinMag.com
I play $1/3 and im considering quitting my job to play poker. I want a 50x bankroll starting at 10k so that means i can buy in for $200. With a maximum of 2 buy ins per session. Is this wise or are there any adjustments I should make before i make the move? Let me know your opinion. Also in 2016 I averaged $15/hr over 360 hrs and in 2017 I averaged $22/hr over 385 hrs. Let me know your opinion , monthly expenses including savings are 2,000
Obv a year+ old comment, but holy hell Gary, I sure hope you never get to waste a big score on NOTHING. You can start a RE business on $5, so just pull your shitty old truck out the driveway and go start it already. Talk about realistic dreams not being pursued.
I would buy a bunch of drugs and hookers and then get so fucked up that I smash everything and get arrested for disorderly conduct. Then I would punch a cop and get put in jail for 3 years. When I got out I would buy a Lambo and wrap it around a telephone poll and die.
just being realistic
the key thing is how many people had a piece of him? That dramatically reduces how much he won. Then take out taxes and you would be surprised at how little he has. How much is invested in equities, stocks, bonds, funds etc? How much cash are you going to keep putting into future high stake cash games or expensive tournaments? We will see in a few years how these young kids make out over the years.
it is standard to be staked at 2/3rds with 2 stakers. so in this instance he would have kept 1/3rd of that 5M BEFORE taxes. taxes are probably 30% or so, although a good accountant can get you lower after writeoffs and gambling losses. so i would guess he walked away with between 1-1.5M.. that house probably cost 450K if he got a good deal on it. 150K on those 2 cars at most. so he has 500K or so leftover to invest.. he still has to work but atleast he doesn't have to worry about a mortgage or car payments for a long time.
Josh McDowel houses need furniture. The truck is beast. and that corvette probably sees the road rarely. he could easily re sell it 20 years from now for 100k given it's rarity. get a gf and you'll stop making dumb comments on YouTube
Damn u wonder who staked him and how much they took off the top? I would stipulate a max cut of 100x the stake. Or if he sold during the final table break... He said he had to get over "losing" and I assumed he meant the money he had to give and not the 1st place... Lol those crazy rich ppl always making deals with other rich ppl.
Typical materialism? A house is an investment. And he bought a corvette, so what. A corvette is nothing that extravagant and the guy is allowed to enjoy his winnings a little bit. Jealousy is a really bad look, just saying....
You can purchase real estate in Vegas for half if not 1/3 amount of other states. He prob payed less than 1mil for that home which would cost close to 3 million in parts of NY CT or Jersey In Brooklyn NY they got sanitation dump one family 2 bedroom homes refurbished from the 1940's that go for close to 1 mil
Farber has made it, good on him. Great video.
But, and i'm not hating, some guys take their weight lifting over the top. Like that guy Farber isn't so tall so with those fridge shoulders he looks kind of unnatural.
If you knew anything about poker and taxes you'd understand that these guys cash for the full amount, issue a 1099 to all investors, and file a W2G themselves. If Jay saved all his losing tournament tickets and expense receipts for the year, he could have realistically paid as little as 5% tax on his winnings for the year, including the $5mm score.
+Bradrockfin depends on your outlook on life though right? sharing a life with someone although romantic and cliché is sometimes desirable, on the contrary, meeting new girls new experiences.... idk.. if one pussy isnt enough then its like youre treating life as a game...
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