Online Poker

Gus Hansen Loses a Million Bucks

by Omar

Gus Hansen Loses $1 Million

The bigger they are, the harder they fall.  This is an old saying that most people learn as kids.  For the high stakes poker community, it is something that they are reminded of on a daily basis.  High stakes poker pro Gus Hansen got off to a red hot start in 2011, becoming one of the year’s top money earners.  He cooled off in recent weeks as perhaps it was a sign of what was to come.  Last week, he officially hit rock bottom by losing $1 million in a single 7 day stretch.
After the week he just had, it’s likely that Hansen has nothing but fond memories for the time that he was up $4.7 million, making him the biggest winner of the year at the time. Since those lofty days, it has been a slow and steady decline of his bankroll.  From April 1st to the 7th, Hansen played over 8,000 hands against online poker’s biggest sharks.  No matter the game of choice, it was a struggle.  Whether it was $300-$600 Pot Limit Omaha against Tom Dwan and others, or heads up against Phil Galfond or Dan Cates, it couldn’t stop the losing.
When considering the fact that out of every online player in the world, Hansen was the biggest winner around, his April swoon is quite surprising. As of today, Hansen is down $970,000 in the month of April which marks approximately a 20-25% decrease since his best days earlier in the year.  If any of this sounds a bit familiar, its because it is. In 2010, Hansen got off to a similar hot start, showing over $2 million in the first quarter of the year.  However, from then on out, he gave it all back, with interest, and he closed the year firmly entrenched in the red.
Luckily, the great Dane was even hotter earlier on and he is still up over $3 million. This means he is still the top money earner for the year.  However, he needs to turn things around quickly. If not, at last week’s pace, he would lose all of his profits in just under another month.

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