Online Poker

Phil Galfond selling Multi-Million Dollar Condo

by Jeremy

High stakes poker phenom Phil Galfond recently did a very interesting interview where he discussed some big downswings, and how he’s looking to sell his multi-million dollar condo in New York City.

First off, he mentioned losing roughly $680k in a recent session of $1k/$2k PLO. What’s bad is that he lost another $340k shortly thereafter, which amounts to over $1 million in losses in a very quick span. He then started talking about how, towards the end of a bad session, the losses really hit him. Eventually though, he’s able to get over the losses and get back to business. Galfond also talked about how much money he’d be willing to put back on PokerStars after taking such heavy losses, for which he never gave an official number.

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Following a massively unsuccessful session, Galfond said that players need to avoid the mentality of, “Okay, I’m up $10k today, which means I’m only down $680k.” Instead of thinking this way, he advised that, “You need to kind of reset your mind because you don’t have the bankroll that you had for that session. It’s like, you’re starting over, and you work from the point where you’re at now.”

Another good point Phil Galfond made is that you should play smaller stakes after suffering through a really bad session where your bankroll is affected. He said players need to drop down a little lower in stakes, and realize that their losing streak may not quite be over yet.

One interesting off-beat topic that Galfond discussed is how he wants to sell his multi-million dollar condo in New York City. The reason why is because Galfond’s not sure when he’ll be able to live there again, and the mortgage is pretty expensive for a place where he’s not living. You can see the whole video below:

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