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All In with World Series of Poker Champions, by Planet Money


Stashed in: Gambling!, Poker!

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Woah.

VANEK SMITH: Being a professional poker player is like having a job where you get paid once every 10 years. And when you do get paid, it's a lot of money. It's 10 years' worth of money, but there are a lot of lean times before

ROMER: Sunglasses or no sunglasses?

WOLTERS: I don't wear sunglasses. It would just be weird to me, wearing them inside.

ROMER: Because, in fact, it is weird to wear sunglasses inside.

I'm glad I'm not the only one who thinks it's weird. 

VANEK SMITH: Derek, our investor, who watched the whole tournament from the sidelines - he took home almost as much as Jake, $600,000.

ROMER: Derek took that money and reinvested it.

VANEK SMITH: Derek still plays tournaments. But more and more, this is what he's doing - buying up shares in other players.

This is what I learned from that article. Poker players invest in each other. 

Less gamble, more arbitrage.

Portfolio theory at work!

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