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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So there's a lot of like, it's grueling too.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You're seven, eight days where you're in the blender
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
as you might say, so.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So what's the structure?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So it's $10,000 buy in or something like that.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
And there's a bunch of tables and you just keep playing.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Like when is it over for a single table?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Does it go?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So the way that it works is this.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So there's, let's say 8,000 players.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
And the way the main event works, unique to others,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
is there's various day ones you can play, right?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So a day one, you're gonna play from noon
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
till like midnight, right?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
If you're still in, you bag up your chips
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
and you'll come back for day two, okay?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
There's four different day ones, right?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Now they'll all combine essentially to play on a day two.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
And at the end of the night, they redraw the tables.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So you don't just win your table.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
If players get knocked out, tables break,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
they continue to be replaced.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So you start with 8,000, then after day one,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
you've got 6,000, then you do the same.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You play like a 12 hour day and you slowly whittle down.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Day four, day three, day four, you're in the money.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
And then you continue to progress.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
And then what they do now with the final table is they,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
because they were trying to do this for TV,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
these final tables can take, you know, 12 hours to play.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
And what we were finding was, you know,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
you start the thing at 5 p.m. and it goes till 8 a.m.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
And like nobody's watching anymore.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So they separate into three days now.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
And so you're talking now, it's like six, seven days
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
to get to the final table and another three days to play it.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So you're grinding for, you know, a week and a half.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
But most of the time you're playing against people
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
you've never played against before.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Especially early on, yeah.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
And then by the end, like, who knows?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You know, rarely do you see, you see in the last hundred,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
you usually see some notable names.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Then in the last 27, you might see one, maybe two.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Final table, maybe one.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
But often it's gonna be, you know,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
some players you've never heard of before.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Is there strategies that maximize your likelihood
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
of having a chance?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Yes, absolutely.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Like I think the World Series of Poker main event
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
is a unique animal in that, you know,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
like we talk about game theory and all that kind of stuff.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
If you're focused on that when you're playing,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
you're really not playing well, right?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You need to just exploit
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
because you're gonna have a lot of people
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
who see this as a bucket list item.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You know, they just wanna play
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
the main event in the World Series.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
And they might be scared, they might be nervous or whatever.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You don't have to worry about being balanced, right?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Oh, you know, I have to make sure that I'm, no you don't.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You might not, you're playing with this guy now
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
for three hours, you might never see him again.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So just make the play that makes sense for you, right?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So yeah, you're gonna, I approach that event
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
very differently than I would
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
like playing against the high roller players
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
that I play with today.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Does that mean more aggressive essentially?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Less actually.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So when you play against really good players,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
you have to take small plus EV scenarios
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
where you push the envelope
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
and you're playing really aggressive.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You're bluffing off your stack.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You gotta do this.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You gotta focus a little bit more on being balanced
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
because otherwise, you know,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
you're not gonna beat these guys.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Whereas if you're playing with amateurs
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
and you're playing with regular players,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
for the most part, risking all your chips on a bluff,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
probably don't need to do that.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You don't need to do that nearly as much.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
You can probably slowly but surely build your stack
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
without taking, you know, those high risk,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
high variance situations
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
because you'll find better situations.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
What mistakes do amateurs usually make
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
in tournaments like that?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Are they over bluffing?
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Well, I think amateurs generally,
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
the biggest mistake they make is they think
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
that pros are bluffing more than they are.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
So like a pro will bet all his chips on the end
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
and they're like, ah, I don't know.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Maybe, you know, it's Phil Ivey.
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Daniel Negreanu: Poker | Lex Fridman Podcast #324
Maybe he's doing some crazy stuff.
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