Category Archives: Gambling

Did Poker Player’s WallStreetBets Reddit Post Help GameStop Stock Close Strong on Friday?

Poker player Daniel Moravec may have helped the GameStop stock price rise late Friday due to a viral post he made on the subreddit forum WallStreetBets. The Minnesota native, who spoke with CardsChat News, discovered a trick to help heavily bankrolled investors buy restricted stocks from Robinhood and other trading apps.

Did this poker player cause a late surge for GameStop stock on Friday? (Image: CardsChat News)

Although the company is headed towards bankruptcy due to its failing stores nationwide, GameStop’s stock (GME) price has risen to unthinkable heights the past week due to a push from Reddit investors such as Moravec, a passionate poker player who now resides in Las Vegas, on the WallStreetBets forum.

The video game retailer’s stock has gone from under $20 per share a few weeks ago to a closing price of $325 on Friday. Earlier in the day, it surpassed $400. Many investors made a killing this past week and believe this is only the beginning. Some investors on Reddit and Twitter anticipate an eventual $1,000 mark.

Doug Polk Wins Five-Hour Grind on Day 34 against Daniel Negreanu

Doug Polk had a huge lead throughout much of the session on Friday, but Daniel Negreanu fought back only to end up suffering another loss. And in doing so, his chances of winning are slowly dwindling away.

Doug Polk is running away with it against Daniel Negreanu. (Image: YouTube)

With just over 4,000 hands left to go out of 25,000, it would take nothing short of a miracle at this point. Negreanu is now down so far that he’d need to win about one small blind every hand, on average, to pull this thing out. We aren’t saying that it’s impossible or that he should just give up. But you must consider the probabilities here.

As Doyle Brunson famously uttered on the Poker After Dark intro, “there’s an old saying in poker, the only thing you need to play this game is a chip and a chair, but to sit down and win against the best, you need a whole lot more.”

Self-Sabotage: 5 Destructive, Stack-Crippling Thoughts and How to Avoid Them

Winning poker players become winners because we think. We read. We watch videos. We’re part of poker discussion groups, and we consider our poker action before we make it. We do all of these things to gain edges over our competition.

We gain an edge because we understand and apply poker strategy better than our opponents do.

Implosions are a regular occurrence in Las Vegas. That doesn’t mean, you should let them happen to you at the poker table. (Image: RivieraHotel.com)

Ironically, however, our thinking can sometimes get us into trouble; serious trouble. With just one blunder, we can destroy a stack that was built over an entire session of good play.