Side Bet Question

[FourFlusher 0]

In the final match on PAD HU with Phil and Chris, Phil made a side bet I don't understand. I played it twice and couldn't figure it out. It was when he had the best hand all in to start, but Chris had an Ace that could have beat him. He said something about $12,000 and 5%.I know it was some kind of insurance, but, I don't understand the bet.Can anybody explain it?

[serge 904]

In the final match on PAD HU with Phil and Chris, Phil made a side bet I don't understand. I played it twice and couldn't figure it out. It was when he had the best hand all in to start, but Chris had an Ace that could have beat him. He said something about $12,000 and 5%.I know it was some kind of insurance, but, I don't understand the bet.Can anybody explain it?

he is basically buying insurance...If he loses the hand Chris has to give him $12000 times the proper odds and the juice(5%)..He seems to do it everytime its a big pot.

[cardcore 0]

In the final match on PAD HU with Phil and Chris, Phil made a side bet I don't understand. I played it twice and couldn't figure it out. It was when he had the best hand all in to start, but Chris had an Ace that could have beat him. He said something about $12,000 and 5%.I know it was some kind of insurance, but, I don't understand the bet.Can anybody explain it?

sure, phil bet $12,000 and 5% of all the companies he has a piece of

[FourFlusher 0]

Hmmm...I know I'm dense, but, I still don't get it.If Chris spikes the Ace and wins, he doubles up. If Phil wins, he gets $200,000. If the bet is Chris pays $12,000...what does he get if he loses? What is his incentive to bet twelve grand to double up and still be seriously behind?I thought it might be Phil pays him twelve grand if he sucks out, Chris pays 5% of that if he doesn't since Phil was about a 5% favorite to win.But, I don't know.

[xzanos 0]

Hmmm...I know I'm dense, but, I still don't get it.If Chris spikes the Ace and wins, he doubles up. If Phil wins, he gets $200,000. If the bet is Chris pays $12,000...what does he get if he loses? What is his incentive to bet twelve grand to double up and still be seriously behind?I thought it might be Phil pays him twelve grand if he sucks out, Chris pays 5% of that if he doesn't since Phil was about a 5% favorite to win.But, I don't know.

It's like blackjack. You pay your insurance. If the dealer has blackjack, you get it back and the house pays you. If not, you lose your insurance.If Phil's hand holds, he loses whatever he put up, if his hand loses, Chris pays him whatever the agreed upon amount was.I didn't see the episode, so I don't know the specifics, but that's how it works.

[TheRegime 0]

ok I didnt see the episode but from what you said Id say the hand was like KK vs A 10 or something along those lines.That hand is roughly 70/30 for the KK.So if the KK holds he pays Chris 12k. But if the KK loses he gets 12k x 70/30 which is 28k - the 5% chris gets to keep for offering insurance. So 5% of 28k is 1400. So Chris would only pay Phil 26600 if his A10 were to win.Hope this helps.

[EStormOk 0]

I don't understand why Chris would take this bet. If he wins the hand he owes Phil a good chunk of cash and he is still on the shorter stack of the two?

[TheRegime 0]

Usually these bets are made in hands that are like 90/10 or 95/5 and in cash games. So the guy who knows he is most likely gonna lose can still get some cash back. If he bad beats the guy and wins the pot he has to pay big though.The odds are in the favour of chris cuz he is most likely gonna lose the hand also if he wins he gets a 5% discount so he has a slight edge.

[serge 904]

I don't understand why Chris would take this bet. If he wins the hand he owes Phil a good chunk of cash and he is still on the shorter stack of the two?

Because he is essentially profiting the juice...