John Finn spends some of his winnings to hold big losers like Sid Bennett and Ted Fehr in the game T

Breakdown of Poker Income and Insurance Costs For One Year

Source of Income

Insurance Costs, $

(calculated losses)

Quintin Merck

2,500

100

Scotty Nichols

5,500

500

Sid Bennett

13,000

2,000

Ted Fehr

9,000

700

Others

12,000

1,200

Total

42,000

4,500

Without paying that insurance, John theoretically could have won $4500 more during that year. Yet without the insurance, the greater psychological and financial pressures on the big losers might have forced them to quit . . . and each big loser is worth much more than the entire $4500 insurance cost. Also, if several big losers had quit, the poker game could have been destroyed. John, therefore, considers the insurance cost an important and profitable investment.

How does he spend this $4500? The money buys him the valve that controls the money flow. He watches the losers closely. When they are in psychological or financial trouble and on the verge of quitting, he opens the valve and feeds them morale-boosting money until they are steady again.

Winning players are of little value to John. Since there is no need to help them or boost their morale, he keeps the valve closed tight on them. He may even spend money to drive them out of the game if they hurt his financial best interests.

John Finn never spends money on any player except to gain eventual profits.

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