Gossip, Rumors & Buzz
It doesn’t topic if it’s truth, fiction, or someplace in between — a Dan Bilzerian poker tale is at all times attractive for one reason why or every other. This week, the outspoken millionaire was once again within the highlight and speaking about, amongst different issues, poker at the Extra Plates Extra Dates podcast.
Hardcore professionals will ceaselessly dispute Bilzerian’s authority to discuss the rest even remotely related to poker technique. On the other hand, irrespective of whether or not or no longer he if truth be told made his fortune in high-stakes video games, Bilzerian is aware of numerous rich folks.
And, as he printed at the Extra Plates Extra Dates podcast, he is aware of so much about their monetary affairs. As any person who sits in non-public video games with the likes of millionaire businessman Invoice Perkins, Bilzerian defined how crypto has transform the forex of selection for the ones with nosebleed bankrolls.
Bilzerian talks cash and taxes
For context, Extra Plates Extra Dates is a YouTube channel essentially devoted to health. Its host, Derek, had prior to now published a video on Bilzerian’s steroid protocol. That stuck Bilzerian’s consideration and ended in a podcast posted on YouTube this week.
The 2 in the end get into health and women, however no longer sooner than Bilzerian supplies some perception into the secretive international of high-stakes poker. The dialogue was once sparked via a query about cryptocurrency, which led Bilzerian onto the logistics of shifting cash round and, in flip, taxes.
Non-public video games aren’t like those who happen in a on line casino. Financial institution wires are not unusual as a substitute of money or chips and, in Bilzerian’s phrases, that’s what “f**ked up” Andy Beal. Bilzerian recounted a tale involving noted poker enthusiast and billionaire Beal and any person known as Alec.
The mysterious Alec, reported to be private equity billionaire Alec Gores, gained $700 million from Beal over the process a 12 months. Beal shipped the cash to Alec by way of financial institution switch, which supposed Alec, who lives in California, was once obliged to record his winnings as source of revenue. In step with Bilzerian, Alec was once due to this fact taxed 50% on his $700 million win.
Crypto is the forex of selection for top rollers
Bilzerian additionally defined how he and his fellow excessive rollers used to fight with getting sufficient money for his or her non-public video games. Bellagio chips had been, for a time, accredited as a common forex some of the internal circle of rich avid gamers. That was once till cryptocurrency become in style.
Lately, “the entire playing neighborhood has long gone to crypto” as it provides speedy settlements, Bilzerian mentioned, including that he’s been getting paid in crypto since 2013. Bilzerian mentioned would ceaselessly attend non-public video games in Macau and folks would pay their money owed the use of Bitcoin.
The anecdotes carry the lid on what existence is like in non-public, high-stakes video games which are ceaselessly shrouded in secrecy. Most likely extra fascinating regardless that, is the use of cryptocurrencies. The debates over the sensible packages of Bitcoin et al were raging since 2009. For a small collection of well-bankrolled poker avid gamers, on the other hand, it kind of feels that cryptos have transform an invaluable substitute for money.
To listen to extra about what Bilzerian has to mention about cryptocurrency and high-stakes poker, concentrate to the full three-hour podcast.