One great thing about the game of poker is that it can teach you a lot about life. In fact, early on in my poker career I realized just how powerful applying poker concepts to life can be. Once I developed a deep understanding of the game of poker, a lot of other things in life started to make much more sense. Understanding how various markets and economies function became much more understandable to me, as did a number of other things that had previously confused me. Using the same formulas I use to determine whether or not a particular decision at the poker tables was +EV, and applying those formulas to life decisions worked out really well for me.

Before I became a poker player, if I had a tough life decision I would generally consult a friend or family member who I felt would be a good person to ask for help. I often simply trusted their judgement. If I still wasn’t sure, I would usually play it safe or occasionally stubbornly just do whatever I felt like doing at the time.

And that’s not to say that I have completely abandoned the idea of asking for a trusted friend’s opinion, but I have found that using poker EV equations for life decisions works pretty darn well and as a result, I probably bug my friends with my problems a lot less than I used to!

Now, that is not to say that using poker logic for life is fool proof. In fact today I used my poker brain for a life decision and it cost me about $300! One of the greatest human behavior anomalies I have ever witnessed resulted in me being cited today for speeding. I was driving down a highway that is practically in the middle of nowhere while heading out to the golf course today. My car is a pretty cool Lexus LS460 that you can drive 100MPH in, yet feel like you aren’t going more than 45 MPH. Unfortunately for no reason that makes sense to anyone, the speed limit is 50 MPH on that particular highway. It is pretty common for people to speed on this road and the cops know that. They have their hiding places that I am well aware of at this point where they are sitting pointing their radar gun at your direction, hoping to catch someone speeding. Since I am very aware of this situation, I am always very careful not to speed around their hiding places. In fact, I have only been pulled over once on the way to the course in 5 years of driving there. That might not sound like much of an accomplishment, but it is pretty good for me. I am a chronic speeder.

About 3 miles from my exit, I was approaching the last hiding spot that I know the cops often hide. Fortunately for me, there were about 10 cars 1/4 mile ahead of me. All of those cars were driving between 60 and 70 MPH. I closely watched the cars ahead of me and not a single one even tapped on their brakes. Feeling confident that at least one car would have braked if the cop had been hiding there shooting his radar gun at the cars, I used my poker brain and decided that logically at least a few (if not all) of the 10 cars ahead of me would surely hit their brakes if a cop was hiding in his typical spot. I assumed that the possibility that the cop was there was as close to zero as possible with this information. How did I know this? Let’s say on average a person is 50% likely (the number may be higher or lower, but we can work off of this number for now) to at least tap their brakes when passing a cop who has his radar gun out. Let’s assume that all 10 cars ahead of me have an equal chance to alert me by braking. Using these assumptions, the odds that all 10 cars wouldn’t brake while driving past a policeman with his radar gun out would be 0.09%. If we factor in that everyone was driving 10-20 MPH faster than the allowed speed (which should increase their chances of wanting to slow down when seeing the policeman), then it would be even more unlikely that a policeman was there.

So when none of the 10 cars touched their brakes, I decided to let loose and enjoy my car. After all it is not often I can really let er rip on the highway, so I thought given I was 99.91% sure there were no more cops before my exit, I was safe to do so. I got it up from 60MPH to 85 MPH in no time at all and just as I did, I looked to my left and there was a cop and he had his radar gun pointed right at me. He was in his usual hiding spot which meant all 10 cars drove past a cop while speeding between 10-20MPH and didn’t even tap their brakes. Before he even turned on his lights I had immediately pulled over and was already parked on the side of the road! There was no question who he was coming for so I didn’t wait for him to tail me and put his lights on. There was no need to go through that song and dance.

Usually when a cop is pulling me over my thought is something like, “FML.” But this time all I could think about was how much of a sick beat it was that he was even there! Part of me was simply stunned that such a human behavioral anomaly could occur right before my eyes (and my wallet). When he pulled me over he asked why I was speeding and I kind of laughed and said that, “I saw 10 cars in front of me all speeding and no one even touched their brakes so I didn’t think you were there!” He kind of chuckled and told me he was only looking for people who were going over 70 MPH and then thanked me for pulling over so quickly. He cited me and I was on my way.

I will have to say that while I got caught today, if a similar situation arises, I wouldn’t do anything differently. If I do some quick poker thinking and determine that I have 99.91% equity that I won’t get pulled over, I will take that equity and enjoy that ride!

Did I learn a lesson today? No. Not at all. I took a sick beat is the way I look at it. What can I say? I guess I am a slave to EV. I certainly can’t claim that I live a perfectly +EV life and every decision I make is + EV, but I certainly aim to do my best for the most part. It has served me well over the years, but we are all going to take a bad beat from time to time……

I will have to say that for someone who lost a sweet endorsement deal, watched U.S. sales of his books go in the tank and completely lost their ability to do a high income producing job, I am pretty darn happy! Post black Friday has been pretty sweet for me. All of a sudden I am sleeping better and feeling more freedom than ever before. For years now I have spent countless hours in front of a computer screen and while I am sure when poker comes back I will be spending some more before I hang it up, it feels pretty good to not be online all day. I am getting tanner and steadily losing weight as opposed to getting paler and fatter which is nice! Man, when you sit on your butt playing poker all day, it is sure hard to keep the weight off. I actually have had a better diet as a poker player than when I was 165 pounds (I am about 195 now) and playing golf all day. Hopefully before poker becomes legalized I can get back to to a decent weight through keeping the same diet and getting out on the golf course often.

Yeah, overall things have been great. I went to Las Vegas for the WSOP primarily to play cash games. I went there with a few buddies and we were playing deep stacked (10k buy in) 5/10 and 10/20nl games in Vegas. Unfortunately we weren’t the only online pros who decided to do that. Not even close. After playing in Vegas for over 2 weeks and rarely sitting with any bad players, I decided to come home. The games were very beatable, but only relative to the online games I am used to playing. As live games go, the games were pitiful. I decided that my hourly rate probably wasn’t super high in those games and since making money is not a huge priority right now, I decided to pack it in and head home. Playing cash games line ups with 7 pros and 2 decent amateurs was not something I was willing to give up my summer for. And to make matters worse, I realized quickly that being away from my family (my wife is pregnant and my daughter is not even 2 yet) was not easy for me. When you call home and hear your daughter crying your name in the background, it tears you up inside. So I decided to head home and enjoy the Portland, OR summer, which is arguably one of the best you can find anywhere in the world.

Having a bunch of time away from the game has also allowed me to reflect on my poker career. In fact, I am kind of looking at my pre black Friday career as a sort of trial run for my (hopefully) post U.S. legalization career. I have done a lot of things well, but have also made my fair share of mistakes. I know one thing for certain that I will NEVER do is be involved in the business side of poker. I hate it! I learned that I just want to play poker. And if for some reason an amazing situation comes along for me to be a part of the business side of poker that I just can’t turn down, then I will not take my own poker game seriously. It has to be one or the other because I will never again do both. Trying to do both is in my opinion one surefire way to suck 100% of the fun and perks of being a poker pro.

I have learned many other valuable lessons as well and feel like when poker comes back (and I am incredibly confident that it will within the next 6-36 months), I will know EXACTLY what to do to have a rewarding career as a player. I’ve had several buddies from the PGA tour tell me that the hardest part about your rookie year on tour is that you are at an incredible disadvantage to the veterans because you don’t know what hotels to stay in, what the golf course is like, what restaurants to eat in, airports to fly into etc. In poker I think it is not too dissimilar in the sense that I have made a thousand mistakes in my career and I will not repeat even one of those when poker comes back. I feel I will be at a tremendous advantage when the games return because I think I have as much or more experience in online poker than anyone else and I am looking forward to that day. And not because I am dying to get back to grinding online poker games, but because I know I will have a highly rewarding career when it returns.

Many of you are familiar with my mental game coach, Jared Tendler. Back in 2007 when I was on the verge of my first losing month, I called Jared for help. At the time, Jared was working with golfers on their mental games, but I convinced him to try helping a poker player because there were so many parallels between the two games. We gave it a shot and the rest as you could say, was history. I escaped my first losing month and put together what may be the best run ever in online mid stakes (3/6 to 10/20nl) games winning over $600,000 in a 100 day period after implementing his concepts.

Jared has gone on to help hundreds of professionals all around the world including many of the very best players in the world. It has always been a bit pricey (but definitely worth it as hundreds of poker pros will attest) to work with him directly, but now you can get his philosophies for relatively little cost. Jared self published his first book called “The Mental Game Of Poker,” and it is now available to the world. I am not completely done with it and when I am I will write a review, but I am far enough along with it to know it is unquestionably going to have a significant impact on your poker game. Shoot, honestly I didn’t even need to open the book to make that statement. I have worked with Jared for nearly four years and know enough about him to know that there was literally a 0% chance his book wouldn’t be exceptional. If you would like to pick up a copy you can do so here

I want to say thank you to all of the folks at Pokerstrategy.com Just 2 weeks ago I started working for them as a video producer. I am very grateful for the opportunity to coach at the largest poker training site in the world and have had a great experience there so far. The videos are getting a tremendous number of views and comments. It is a lot of fun to put your work out to such a large number of people and to be able to interact with people all around the world. I have been getting to member questions and it is a lot of fun. It also helps keep my poker brain working properly.

While I am enjoying my “retirement,” it is important to stay sharp so my plan is to take it easy until passes in congress. When a bill passes, I will then be doing everything in my power to be sure that the day we all start playing again that I am at the absolute peak of my abilities at the tables. I wouldn’t miss that opportunity for the world. Until then, however, I am going to enjoy the sun. Shoot, I am 30 years old and don’t have to go to work. I wake up each morning and think about what would be a fun way to spend the day and then do it. I don’t think a human being can ask for a better situation than that.

Hi everyone,

I’ve been at the World Series for about a week now. Playing cash games and mostly breaking even, but I feel like I’m getting the lay of the land. Arriving in Vegas for the WSOP is a bit like your first week of college, getting your bearings and figuring out where to find the dining hall, computer lab, golf course and … oh yeah, classes. I can tell you that lots of frustrated online players have descended on Vegas, which has created a little gridlock at the tables. But it’s a market like any other, and eventually the will to profit prevails. I feel like I’m getting close to figuring out where the opportunities are.

Meanwhile, debate rages on my Facebook page about my stance on hoodies and beef jerky. First, I love it when people tell me I’m wrong. That’s the back and forth I’ve been missing lately! Very valid points from my friends, saying A) It’s a free country; B) One of the reasons we LIKE poker is it’s a “come as you are” environment; and C) What’s wrong with beef jerky?

Excellent points.

And as a corollary to Point B: How can a guy who’s celebrated working in his boxers and having a piss bottle by his side now critique another player’s wardrobe?

Particularly excellent point.

My argument (which you can read here) is that we have a perception problem in America. We need American voters to take us seriously so that they’ll encourage their representatives to legalize online poker. If we don’t look like we’re taking this seriously — if we literally look like we could roll out of bed and win — then we less like skilled professionals and more like degenerates. And, yes, I’ve contributed to this perception. I just think we need to make a conscious shift. Again, I love the conversation, so please keep it going.

Now … onto a bit of business. Most of you know that I’ve written a couple books: Treat Your Poker Like A Business and Don’t Listen To Phil Hellmuth, and am in the process of writing Treat Your Poker Like A Business 2. One of the things that made me proudest about Treat Your Poker Like A Business is that we sold copies via my website to readers in more than 50 countries, and the book has been (or is in the process of being) published in nine languages thanks to some amazing folks who licensed the foreign-language publishing rights.

We’re looking to publish Hellmuth and Treat Your Poker Like A Business 2 in even more languages. If you’re interested in acquiring these rights (be you a publisher or in some other poker-related industry), we’re looking for partners in these languages: Bulgarian, Croatian, Danish, Dutch, Estonian, Finnish, Greek, Hebrew, Latvian, Lithuanian, Norwegian, Japanese, Polish, Romanian, Romansh, Slovenian and Swedish.

We do have partners in Chinese, Portuguese, Czech, French, German, Italian, Russian and Spanish. That said, we are always looking to be introduced to new businesses in these languages in the event something changes in the future.

(And if there’s a language I’ve overlooked, please let me know!)

Should you have an interest in working with us, please email info@imagine-books.net.

Thanks! More from the WSOP later.

Dear Poker community,

It came to our attention this week that the publishing company I co own, Imagine Media, has been a victim of theft and fraud. A poker player purporting to be James Allen (at this point we can’t confirm if “James Allen” is his real name or not) recently acquired an extremely large number of copies of my book, Don’t Listen To Phil Hellmuth, through a fraudulent credit card. Imagine Media has been in cooperation with the proper authorities to bring justice to this situation, but at this time the person purporting to be James Allen has not been apprehended.

My reasons for notifying the poker community about this issue are two-fold. First off, it would only seem logical that this thief is not so infatuated with my book that he needed a massive number of copies for himself! We are operating under the assumption that the theft occurred because the person purporting to be James Allen has the intention of selling the books to a third party. If anyone in the poker community is being offered a deal to acquire copies of Don’t Listen To Phil Hellmuth from someone that isn’t from Imagine Media, please let me know at info@dustyschmidt.net. I would greatly appreciate any help I can get that will aid in the arrest of the person purporting to be James Allen.

Secondly, it is definitely possible that Imagine Media isn’t the only poker company that this thief is targeting. I have no knowledge of his intentions, but it seems reasonable to think that this person will attempt to strike again. So for anyone out there who is involved in the business side of poker, I would encourage you to beware of this person and be on the lookout for anyone who might be trying to take advantage of you. Trust me, it is not a lot of fun to be in this position.

Thanks for taking the time to read this and I hope that it helps us or someone else as a result.

Regards,

Dusty Schmidt

In light of yesterday’s news, in which it was announced that 10 internet domain names were seized pursuant to a court order, many of you have asked me about the state of our program with Black Chip Poker. I’ve spent a sleepless night talking with people I respect and considering all of the options.

I’m in a unique position. There are dozens of affiliates offering Black Chip as an option right now, but none of them has the owner’s name out front as DustySchmidt.net does. I can’t distance myself from whatever the news may bring, nor do I want to. I don’t want to be just another nameless, faceless poker company. I started this company so I could have a close interaction with fans, readers and customers, and I’m not going to run when times get tough.

I do want to make a couple of things clear, again not to distance myself, but rather to make perfectly transparent that what I’m about to say is not based on an intimate knowledge of Black Chip or the Merge Network. I am not an owner or equity partner in Black Chip. I’m not a rakeback provider, nor am I a paid representative of the company as I was with PokerStars.

My publishing company, Imagine Media, is an affiliate of Black Chip’s, just as we are of several other companies. The affiliate relationship does not allow for any sort of look under the hood as to how a company is run. I have no first-person perspective from which I can endorse or denounce their business practices. My limited interaction with their team leads me to believe they’re very fine people with the best of intentions, and as an affiliate our exposure to their operations has been very positive. Our intention in adding them as an affiliate has been to blend their services and ours into a package of superior value that would serve Americans still wanting to play online poker. I don’t want to make it sound like we are running a charity — this package was added to a suite of affiliate offerings that are the lifeblood of Imagine Media in this radically changed poker marketplace.

But right now my concern is for your money and your time, as well as that my connection with you always remain on the up and up. My thoughts have been ping-ponging between two extremes. Do I:

A) Declare full-steam ahead, and sound a refrain about how if Black Chip was going to be shut down, it would have happened by now?

Or

B) Take a highly conservative approach, and say that my faith in the online game today is shakier than it was yesterday given that the Feds are apparently targeting less-prominent poker rooms?

The fact is, both of these things are equally true, and I feel them equally. What I’ve arrived at is Option C, which is to treat you like adults. The poker landscape is unsteady right now. If you have more money in your Black Chip account right now than you can afford to lose, then I suggest you take it out.

But this is the same advice I’d have given two weeks, two months or two years ago. A poker account is not a municipal bond, and given the state of the game in the U.S. right now, you can’t treat it as such. I’m in no position to guarantee the safety of your money. Many of you have asked: Dusty, how can I know that what happened on Black Friday won’t happen to the Merge Network? The answer is, you can’t.

This is the reality of online poker. You have to be cautious, realistic and an adult in rationalizing the exposure of the money you have online right now. I’d be cautious of anyone who tells you otherwise. Until online poker is sanctioned in the U.S., we all need play poker hoping for the best, but prepared in the event the worst happens. Relative to all of the rooms operating now that serve U.S. customers, I feel that Black Chip offers the best program, and our offer provides the best value. But that doesn’t mean that Black Chip is invulnerable to what’s happening in the poker world right now.

If you have questions or comments, I’d ask that you please email them to info@imagine-books.net.

Thanks,

Dusty

It’s been just over a month since Black Friday which has me in a bit of a reflective mood, as well as some forward looking thoughts as well.

First off, I deeply regret saying that I just had to cancel my appointment to attend the PPA Fly-In as a representative of the State of Oregon in Washington D.C. on May 24. As I said in a previous blog, I had to pull out of the Party Poker V Big Game in London last month because of a sinus/inner ear infection that is causing vertigo-like symptoms. I already had my flight booked and was ecstatic to be chosen.  But my Dr. warned me not to fly with these issues and I paid the price last time.

I’m disappointed because for so long I’ve had the feeling that all of these actions are being taken against we poker players, but other than being sure to write my congressman as often as possible, I have long had a feeling like I could be doing more. When the PPA asked me to represent Oregon, I felt like I was finally going to take some real action. It has stoked a fire inside me, though, and I’m thinking about things I can do while still at home.

I guess I am among the minority that are not taking Black Friday that hard. A lot of course has to do with not having any financial issues like so many others have had. But mostly it has to do with having been so consumed for so long with an activity that isn’t very social, and now it simply feels great to be away from the computer, getting outdoors and having fun. I have played more golf in the past 3 weeks than I did in all of 2010. It also feels pretty good to be more liberated in terms of doing things my own way. I got into poker for the money and the freedom. And when poker got to be so much of a job, I sure didn’t feel free the way I did in the early days. I think what I have learned is not that I don’t want to do any of the other things, but rather to be much more selective with projects I am thinking about taking on and products I want to represent. It’s much better for my life EV if I keep it simple. Making a lot of money doesn’t do much good if you don’t have any time to enjoy things that make you happy. So I guess you could say my happiness level has gone up a bit since Black Friday.

I was making a video the other day and digging up HEM hands and decided to filter my results on PokerStars from the time I finished Don’t Listen To Phil Hellmuth to Black Friday. It goes to show that if you really want to improve at something, try being the teacher instead of the student. In writing the book, I reviewed my own game top to bottom, and ended up taking my own advice. I remember the moment when I told my wife right before New Year’s that I felt that I was going to have fantastic results going forward. I was really excited because I knew I was onto something. Anyway, for those interested, here are my cash game results in 2011 before Black Friday hit. (And, yes, this image is massive. I’m Photoshop challenged at the moment. Post continues after the graph.)

Other than golf, I’ve been playing on Black Chip Poker. I am mostly poking around on low stakes games. I got a few thousand on there and started by playing some low stakes games and soon became frustrated. It is not easy playing 1/2nl when the money feels close to irrelevant. I liked things much better (obviously) 3 years ago when I was pissed when I had to play 5/10nl! So after a few hours at 1/2nl, I decided to just put my whole (Black Chip) roll on the 5/10nl tables and got snap coolered in 3 pots haha. After that,  I pretty much had no choice but to play 1/2nl and so far have beaten up on those games pretty well to get a decent roll on there. It still isn’t enough to play 5/10nl, but I may take a few aggressive shots just to see if I can get some momentum. Either way, it isn’t a big deal. I am not planning on any poker income right now and any money I make messing around here and there online is like a bonus to me.

I hope everyone is doing well post Black Friday. I have heard some really sad stories, some positive ones and everything in between. I know this is a tough time for everyone, but things seem to be moving in a positive direction and let’s hope that things will continue to go in the right direction from a licensing and regulation standpoint. I honestly don’t see how we don’t get a poker bill here in the next couple of years. Poker is just going to be to hard to ignore and there are too many people with power who have an interest in it becoming regulated that I just don’t see it not happening. Some gave me a lot of flack for writing a blog a week before Black Friday predicting poker will be legalized in the next 2 years, but I still stand by that. I really think it will happen. Anyway, here is to hoping that I am right!

I just wanted to give everyone an update on our promotion with Black Chip Poker. Nearly 300 of you have signed up through us already — amazing! I’ve been on a nice roll on their site lately, and it’s been good to see many of you there. Obviously there’s a lot of pent-up demand in the marketplace. I thought I’d take the opportunity to address a few themes that have come up lately:

1. What is the program you’re offering, and how do I sign up? If you sign up before May 31, you get 41.5% rakeback, a 200% first-deposit bonus, a chance to earn a free membership to DragTheBar.com, and three of my books FREE (Treat Your Poker Like A Business, Don’t Listen To Phil Hellmuth and Treat Your Poker Like A Business 2, which will be delivered in July when it publishes.) To get started, please click here and follow the four-step process at the bottom of the page. If you’d like to refer friends to the program, please send them to this link: http://dustyschmidt.net/black-chip-poker/

2. What if I’ve signed up but not deposited? Several of you have signed up for an account but not yet made a deposit. If you’re an American player, don’t bother going to the site’s Deposit page, as most of those options will not be available to you. Instead, please email info@imagine-books.net and you’ll be sent information on your best depositing options. Remember that to be eligible for our program, you need to enter the bonus code FREEBOOKS when prompted.

3. What are my deposit options if I live outside the U.S.? We’ve actually had a surprising number of sign ups from European and Asian players, which I find very encouraging. If you’re outside the U.S., and have created an account through us, just proceed to the Deposit page on BlackChipPoker.com and take advantage of the many options you see there. Remember to enter the bonus code FREEBOOKS to be eligible for our program.

4. What do I do if I need customer service? This is really important. The Merge Network’s customer service center is overwhelmed and has caused a few people to lose their patience. I don’t blame you. If you need customer service, send an email to info@imagine-books.net AND VIP@blackchippoker.com. You’ll find people working day and night who are devoted to making your experience a smooth one. I think those of you who’ve utilized those emails have had a really positive experience.

5. Why is May 31 the deadline? After May 31, sites on the Merge Network will no longer offer rakeback, and will be switching to a points system. Those of you who sign up for rakeback prior to June 1 and will continue to receive rakeback for as long as you play on the site. You’ve heard me say it over and over again: Most successful pros are break-even players who rely on rakeback to clear a profit. The points system will be great, but I’d take the rakeback.

6. I heard you’re offering a program for top rake earners? Anyone who rakes $5,000 in a month becomes eligible for four hours of private group coaching with me. I did a post recently on coaching vs. rake races, which I think you should check out.

7. How are withdrawals handled? Withdrawals are done by check. They take about two weeks to arrive and cost $15 to produce. I know this is far slower than what you’d grown accustomed to prior to Black Friday. Again, the methods the Big 3 undertook to expedite your money are what got them closed down. Right now I’d be dubious of any site that promises you anything shorter than two weeks. Until legalization happens, this is just the reality of playing online.

Again, if any of you have any questions whatsoever, please send an email to info@imagine-books.net and we’ll take care of you right away. I hope to see you at the tables.

Most of you are aware of our new program, where if you rake $5,000 in a given month on Black Chip Poker, you’ll gain access to 4 hours of private group coaching with me the following month. Many have asked why you should take advantage of a program like this as opposed to a more conventional rake race on a different site.

My answer is this: You can give a man a fish and he eats for a day; you teach him to fish and he eats for a lifetime.

Sure you can sign up through an affiliate who provides rake races where you can pad your bankroll with a hundred dollars here and there. But if my coaching improves your win rate even a quarter of a big bet per hundred, it can be worth tens of thousands of dollars as well as give you a chance to move up in stakes.

That’s it, really. I’m trying to give you financial freedom through poker, and part of treating your poker like a business is knowing your margins. I believe my teaching can increase your edge substantially. But even if I improve your edge  just a quarter of a big bet per 100, it can totally change the course of your poker career if you push that edge over and over.

Even better, when you sign up through us, you’ll get my three books FREE, a 200% deposit bonus up to $2,000, and you’ll quickly earn a free membership to DragTheBar.com.

Can a couple hundred bucks do all this for you?

To read more about our program, please click here.

Hopefully all my fellow grinders are getting their sea legs back and making the best of online poker’s “new normal.” To that end, we’re going to start doing something that I think those of you who are truly dedicated to the game are going to find interesting.

If you’re a pro or semi-pro who’s not yet on Black Chip Poker, I think you’re going to like this.

As many of you know, we have a special arrangement with Black Chip Poker that will run today through May 31. When you sign up for the site through us, you get:

*All three of my books (including the forthcoming Treat Your Poker Like A Business 2) FREE.

*Rakeback at a rate of 41.5% deposited in your account daily.

*A 200% deposit bonus up to $2,000.

*The opportunity to earn a free membership on DragTheBar.com. (You must rake $500 to be eligible.)

On top of this offer, we are wanting to give you top rake-earners an incentive that is even more valuable.

Those of you who sign up through us and rake $5,000 in a month will be get four hours of coaching with me FREE the following month. This will take the form of a 2-hour conference call, twice a month. We are working out the logistics so that the means of communication is optimal for learning.

THIS IS IMPORTANT: This offer is only good through May 31. After June 1, Black Chip and all other sites on the Merge Network are going to a VIP points system. Those who sign up prior to June 1 will have their rakeback arrangements grandfathered in. You will retain your 41.5% rakeback, DragTheBar.com membership, and eligibility for private instruction in this class of elite players.

If you’re interested, please click here for sign-up instructions. Should you experience any issues during the sign-up process, please send an email to VIP@blackchippoker.com AND info@imagine-books.net

If you have any questions, please don’t hesitate to write us at info@imagine-books.net, or call 831-224-3187.

Has it been nearly a full month since “Black Friday”?  It feels like it was yesterday to me, though a great deal has happened between then and now.

If you’ll indulge me for one paragraph, I want to applaud my former sponsor, PokerStars, for being an upstanding company with respect to how it treats its customers. It blew my mind the other day when Supernovas were credited with a prorated milestone bonus. PokerStars surely did not have to do that and I wouldn’t have thought anything less of them had they decided to not credit people with that money. The Feds might disagree, but I consider PokerStars to be an elite company when it comes to customer service.

Most Americans are wondering where (if anywhere) they can play poker. That is very understandable. One of my goals during this period is to help you find online poker sites that are reputable and stable.

I’ve been playing on the Merge Network (the largest U.S.-serving online poker room) — specifically on Black Chip Poker. I am not a pro at that site and am not personally endorsing them the way I did PokerStars, but so far I have really enjoyed my experience.

Imagine Media, a publishing company I co-own, has produced Treat Your Poker Like A Business, Don’t Listen To Phil Hellmuth, and Way Of The Poker Warrior, and is set to publish Treat Your Poker Like A Business 2 in July. We’ve decided to partner with Black Chip to provide an exciting option for U.S. players. {include link to our BCP promo page.)

By signing up for Black Chip, then making a deposit and raking a nominal amount ($50), you will receive my three books (TYPLABS 1 and 2, and Hellmuth) FREE. You will also receive 35% rakeback + 6.5% additional rakeback by trading in your player points for cash in their store. So that is 41.5% total rakeback. Black Chip has its own internal rakeback system, so rake is deposited in your player account daily. You’ll get a 200% bonus on your first deposit up to $2,000, and are eligible to earn a free membership on the instructional site Dragthebar.com. To take advantage of this program, click here.

This is important: It’s critical you understand that Black Chip will be converting to a VIP program similar to the one on PokerStars beginning on June 1. Why is this relevant? We’re told the VIP program will pay most players LESS in points than they would get in cash from Black Chips’ current rakeback system. Bottom line: By signing up between now and May 31, you will be grandfathered into a program that will be more profitable than those started after June 1.

Imagine if you were a high-volume player on PokerStars and you found out that before you signed up for the site’s present VIP system, there were people who had accounts that were grandfathered in that received more cash back on their play. Wouldn’t you be dying for one of those accounts?

I have no idea if the Merge Network will become as massive as PokerStars, but what I do know is that whether it becomes huge or not, it certainly can’t hurt to have one of those grandfathered accounts. And if you are getting 3 free instructional poker books, as well, I can’t imagine a more a more valuable arrangement.

The following thought has no doubt crossed your mind: “Are you sure it’s a good idea for an American to be depositing money on ANY site right now?” This is a fair question and one I think Dragthebar.com CEO Hunter Bick answers quite well in this blog post.

Hunter writes that PokerStars and Full Tilt were shut down because they provided players with such simple means of getting money on and off their sites. He believes (and I agree) that other sites will be able to keep the games going for U.S. customers by simply avoiding similar depositing options.

Granted, part of the reason the games were as good as they were on PokerStars and Full Tilt was BECAUSE they provided such convenient options. But if we’re willing to do a little extra work, at least we’ll have a place to play.

Here are some additional questions I’ve received over the past few weeks, which I’ll attempt to answer now:

“You mentioned that I can get 41.5% rakeback through Black Chip Poker and get 3 free books. This sounds like a damn good deal to me, but I don’t have the slightest clue what rakeback is or how I get paid.”

I’m glad someone asked this question. Poker is a player-vs.-player game, and the house does not wager against its players (unlike blackjack or roulette), so rake is the principle mechanism for the card rooms to generate revenue. Rake is the scaled commission fee taken by a card room operating a poker game. It’s generally 5-10% of the pot in each poker hand. Rakeback allows you to recapture a percentage of that fee you pay to the card room. In the case of Black Chip, a player can recapture 41.5% of his rake.

Let’s say you play 2,500 hands at .25/.50NL and hypothetically speaking, you pay $100 in rake at the tables during the play of those hands. At the end of each day, Black Chip Poker will credit you with 35% of $100, or $35. That money will be deposited directly into your account at the end of the day and it will be immediately available to cash out or use at the tables. You will also accrue points for your play that can be converted into cash at the Black Chip store. This will get you another 6.5% in rakeback. In total you can expect to recover 41.5% of the rake you pay at Black Chip.

If you were to sign up directly at the site and not through Imagine Media, you would only be eligible to trade your points in for cash. It would be a massive mistake to not sign up through us if you intend to play on Black Chip. In fact, in Treat Your Poker Like A Business I dedicated an entire chapter to the concept of rakeback. The importance of having it is critical. Having three free books that will instantly affect your bottom line isn’t too bad, either!

“I tried playing on some of the sites that still allow U.S. customers and the software is not as good as on Full Tilt or PokerStars. How are you dealing with playing on a platform with inferior software?”

It’s not easy, but I’m adjusting. It’s certainly not as intuitive. I don’t think anyone is going to be able to play as many tables as they were able to play at PokerStars and Full Tilt. That said, I’m finding the Merge Network currently has the most attractive software by far.

I’d simply suggest you remain patient. As the site grows and demand for more intuitive software increases, the software will improve.

“By making this free book offer, are you advising us that our funds are safe on the sites you recommend playing on?”

I’m going to differ here from your typical rakeback provider whose singular goal is to simply drive sign ups. I can’t offer you any form of guarantee. To do so would be a lie. The fact is, no one can say for certain what the future holds.

I am personally playing on Black Chip and have been since I ended my relationship with PokerStars. So far I have enjoyed my experience. There were more games than I thought there would be and they were very playable. I chose to put a relatively small amount of money on the site so that I could play mid-stakes games and grind my way up to bigger games. I deposited an amount of money that I am comfortable losing in the event something goes wrong.

That being said, I feel strongly based on research that nothing will go wrong. There is a large sample size of players who have all had a very good experience at Black Chip. While there are no guarantees, for reasons I have and will state I believe your money is as secure as can be on this site given the present climate.

“I signed up and was then directed to the deposit options page. It was there that I realized how limited the deposit options are. I went through the sign up process on several other sites, and noticed that their deposit options were greatly limited as well. I was hoping I could just make an EFT like I used to make on PokerStars. The options now seem like a pain in the ass. My best option was to transfer money via Western Union to an individual person! Do you have any other recommendations?”

Again, I’m going to be blunt. Yes, this means of transferring money via Western Union to an individual person is the best option available — not just on Black Chip, but anywhere. Keep in mind that using these options is why we still have a chance to play online poker here in the U.S. As Hunter pointed out, the ease of depositing was the primary reason the Big 3 poker rooms got themselves in the position they did. Times have changed.

What has made me much more comfortable with the few deposit options we do have left is that Black Chip Poker has a long list of customers and the site is growing at a break-neck pace. A large number of people are having success both depositing and cashing out, which is what matters ultimately. If you are not comfortable, then don’t do it.

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I hope this clears some things up. My overall perspective is that to stand pat and not play any poker at all is a mistake. I just think people need to adjust their comfort levels with playing, depositing and cashing out to suit their individual situations and feelings. My main arguments for playing are these:

1. To not play would be to essentially lose out on the ability to improve your game for the day online poker is legalized in America.  When that happens, there is going to be a flood of money that will make the “glory days of Party Poker” look like nothing. And I am not going to let my skills fade and miss out on what could be the opportunity of a lifetime. The worst thing that happens is I deposit money on a poker site, the DOJ somehow builds yet another case against a small poker room (highly unlikely any time soon in my opinion) and I lose my bankroll plus some time. The money would be gone in that case, but the time isn’t. That time will be leveraged when online poker does become regulated in the U.S.

2. The likelihood is low that anything will happen to our funds. The Merge Network is not some fly-by-night operation. They’ve been in business for many years and have served hundreds of thousands of customers. They are not going to run off with anyone’s money. So in order for something bad to happen, it would require the DOJ to do something like they did on Black Friday. These kinds of cases are not built in a day, and these sites are incredibly unlikely to take the kinds of chances with their depositing options that the Big 3 did.

3. You can make money. After all, isn’t that why most of us play poker? We all want to make money. You can’t make money at poker if you don’t play. As I write this, there are over 10,000 people playing poker on the Merge Network. This may pale in comparison to the kind of traffic you’d see on PokerStars, but 10,000 isn’t a small number.

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I hope this post aides you in your decision. Please keep in mind that if you decide to want to take advantage of 3 free books, 41.5% rakeback, a 200% deposit bonus and the chance to earn a free membership on DragTheBar.com, you must sign up through Imagine Media, and do so by May 31. To sign up, please visit this page and closely follow the instructions.

If anyone has questions, you can send them to info@imagine-books.net.

Thank you very much for reading, and again, please let us know how we can best serve you.