I lost $44,000+ in online poker last night

But don’t worry – it wasn’t my money.  It wasn’t even real money.

A friend of mine was in an online tournament and it was late in his time zone, so he asked me to finish.  And I did – quickly.  Forget that I didn’t get good cards – that’s not why I lost so fast.  I lost so fast because it wasn’t my money – and even though it wasn’t real money I still had nothing invested in it.  That made it very easy for me to play stupid.  When it isn’t my money I care less about keeping it.

And that’s exactly why I don’t like Government supplied (insert pet project here).  Be it healthcare, free milk – doesn’t matter.  If people get something for free they will abuse it.

Two examples:

  1. I worked for a company that spent hundreds of thousands of dollars on computer repair.  Once the employees learned that after two years they got to KEEP their work computer repairs damn near disappeared.  People take care of stuff they consider theirs.
  2. A good friend managed a sales force of 32 people.  They supplied everyone with a company car, which lasted about two years before it was either beat to death mechanically or so unattractive that he couldn’t bear to see his name on it.  So he replaced the leased cars with a program that allowed the employees to buy the cars over a two year time frame (basically the company ate 1/2 the cost of the car).  Guess what?  Yep – people took better care of the cars.

This isn’t brain surgery – things that don’t cost anything get people used to not paying for anything.  If you aren’t working for it – if you are not invested in it – then it will be abused.


  1. @Paul – it might have kept me in the game longer – but eventually I would have had to sleep as well. Maybe I need to find someone on the left coast I can hand the play over to when I get tired 😆

  2. So, I bet that friend now regrets not telling you you got to keep what you won, which could have been entry into the next level, and ultimately a seat in a ‘real’ tournament with potential winnings of millions of REAL dollars .. maybe that would have kept you from going “all in” with ducks!