he was big in the 70s playing 5 card draw. Thats why he wrote that section for super system. He also runs a think tank. The man is a genius.

His books along with super system are what got me started in the early 90s. PLus his tells books/videos are the top of the crop in that field.

he is a genius.

he's old, so he doesn't play much anymore.

he's written articles on how he thinks modern tournaments have dumb payout structure, that does NOT reward playing for the win... they reward survival... so he won't play them. he's suggested ways to improve payout structures in tournaments.

he runs a think tank, he's a consultant for casinos, he lectures/ teaches/ runs camps and seminars/ writes/ backs a few players.... pretty much a dream semi-retirement for a mad genius, in my opinion.

buk

what is a think tank/how do you run a think tank?

Thanks again for the info. I have read his theory on tournament poker and its very plausible. I play some tournaments but find them a losing prop in the long run unless you win a huge payoff quickly in your poker career. It brings to light that alot of the ranked players are losing players .

They can win one big one every few years but the buy ins catch up to you in the long run I beleive. Mike Caro's theory of the person who gets all the chips should get all the money is interesting. Maybe a way to play tournament poker is everybody buys in for 10k and you can get up and leave anytime, No rebuys. If you want to keep playing you can but no rebuy's.

Imagine Playing in the main event and getting up after day 1 with 100k in chips and its real money and saying thats it im done.

"Maybe a way to play tournament poker is everybody buys in for 10k and you can get up and leave anytime, No rebuys. If you want to keep playing you can but no rebuy's. Imagine Playing in the main event and getting up after day 1 with 100k in chips and its real money and saying thats it im done. "

Is it just me, or did you just describe a high stakes cash game?
Is this Caro's theory on how tournies should be played? From what was said above ("the person who ends with all the chips gets the money") I assumed he advocates a winner-take-all format.
Could anybody be more specific about what exactly he would change in tournament payout structures and why? Does he think winner take all is the way to go or just really top-heavy payouts?

Most of the greatest players dont play many tourneys, there for you do not see them on the circuit/television. I think Caro has probably won around $100k-$200k in tourney play. He also founded the only permanent poker school along with tons of books. Truly an old school cash player.

Mike Caro says that its negative value to play tournaments because your gaining chips and the chips are losing value as people are being paid in lesser spots.

He beleives that the person who gets all the chips should get a much higher percent of the money.

My I dea is that I did not describe a high stakes cash game but yet a tournament style play of a 10k buy in. You may get up and leave at any time. there would be blinds and antes but I think that every tournament chip should equal its monetary value . Just my opinion.

Hex

Mike Caro > stephen hawkings

I used to love playing with Mike Caro at Planet Poker. He is a genius and was very willing to help those who were receptive.

I guess I'm alone on this but I think Caro is overrated as a poker author/mind. He's been writing the same article about tells in live poker games in every publication he writes for. Also, his claim that there is a flaw in tournament pay outs because the 'winner' is penalized for getting all the chips and therefore should be winner take all or adjusted is stupid because that kind of variance would quickly bust the enormous majority of the MTT playing public. It's an economic issue, not a skill one, he's failing to look at the big picture.

His book of tells is very good but, having good technical MTT ability >>>>>>>>>>>>&g t;>>>>>>>>>>>> >>>>>>>>>>>>&g t;>>>>>>>>>>>> >>>>>>>>>>>>&g t;>>>>>>>>
knowing peoples tells.

Bond18 - I really gotta say, I know MTTs are great, but the most serious money is in live cash games. Everyone sitting w/100k at the big game... and there are some guys who really just make consistently phenomenal amounts from it. We can only speculate as to Ivey's bankroll, but a reasonable estimate is 35-40m - and 25% of that came from tourney play. I know that having good MTT ability is of course invaluable, but with all the biggest stakes being live, the importance of tells can't be underestimated.

I have a good idea for a big multi-day tourny where you can cash out chips that makes more sense. At the end of any day of play, any player can cash out their chips for 50% of their value and the rest would be left for the winner.
Example 100 players, $10,000 buy-in and everyone gets 10,000 in chips, there is $1,000,000 in the prize pool and a 1,000,000 in chips. Going into the final day of play (final 9 players or whatever, doesn't matter) 500,000 chips have been cashed out at the end of the other days of play, so there is 500,000 chips left and $750,000 in the prize pool, which all goes to the winner. Once the last day of play begins, no one can cash out their chips anymore, and all remaining money in the prize pool goes to the winner. Before the final table/ final day starts, the players still have the option to cash in their chips, so in my example if 2 players with 100,000 in chips each cash in before the final table starts then there will be 300,000 chips remaining, but $650,000 in the prize pool.
Finally, everyone should have to decide if they are going to cash out or not at the same time, I would say 1 hour before the start of each day of play, they should just fill out a form which will remain a secret until all players have turned the form in. What do you guys think? As long as the stacks are counted the night before, it shouldn't take to long to take the stacks out and they can play the players while everyone else continues to play, so it shouldn't delay the action too much.