22-year-old high-stakes poker professional Landon Tice conceded his heads-up problem in opposition to millionaire businessman and leisure high-stakes participant Bill Perkins, forfeiting a six-figure sum within the course of.
Tice tweeted Saturday that he was going to “surrender” the match and provides Perkins the victory. Earlier this yr, the 2 agreed to play 20,000 arms of $200-$400 no-limit maintain’em on Americas Cardroom. The problem received underway a number of months later in early June.
Regarding the Perkins Challenge:
As a staff we determined to give up. We see no different solution to proceed. He’s a a lot stronger participant than anticipated and I took on greater than I may deal with.
It was an unreal expertise to be part of, perhaps sooner or later I’ll strive once more.
— Landon (@LandonTice) July 3, 2021
Unlike different challenges between two execs, Tice gave his opponent a handicap of 9 large blinds for each 100 arms performed. It primarily meant that Tice would want to win $720,000 over the course of 20,000 arms earlier than he may earn a revenue.
When Tice known as it quits, the duo had performed 12 periods and a complete of 4,907 arms. He was successful $63,720 on the time, however that solely equated to a win fee of three.25 large blinds per 100 arms. He was nonetheless dropping $112,680 due to the handicap.
And for some clarification: we had a sidebet of 200K at 1:1 and the buyout and bb/100 pro-rata was agreed upon by each events.
I’ve received the Online WSOP and another MTTs to fret about. Just should maintain transferring ahead.
I’m sorry I could not get it accomplished. pic.twitter.com/49mSPknbWq
— Landon (@LandonTice) July 4, 2021
In a tweet the place he posted the graph of his outcomes for the problem, Tice mentioned that there was a $200,000 facet wager, which he additionally forfeits to Perkins. Tice, who received the Mid-States Poker Tour Venetian major occasion final November for $201,529 at simply 21 years outdated, admitted from the outset of this match that he bought lots of motion and wouldn’t be taking the brunt of the variance on his personal.
Between the facet wager and the large blinds he noticed Perkins, which might be paid out proportionally to what number of arms they performed and never all the $720,000, Tice and his backers misplaced $312,680 within the match to Perkins.
“I didn’t talk to anyone about it. I didn’t negotiate well. I didn’t come to any good terms,” mentioned Tice in a video he tweeted yesterday. “I just sort of thought that this guy isn’t going to put in work. And I am. And I’m going to beat the guy. I should’ve done more. I should’ve put in more time studying and figuring things out on my own.”
Perkins is coached by high-stakes money recreation professional MJ Gonzales. Gonzales is among the founders of Hybrid Poker, within the midst of his personal heads-up problem in opposition to Dan Smith and is six-time World Series of Poker bracelet winner Daniel Negreanu’s coach as properly. Perkins seemingly had all of his personal motion.
While the precise construction of coaches and backers in Tice’s nook was unknown to the general public, he had outspoken assist from three-time WSOP bracelet winner Nick Schulman and high-stakes money recreation professional Matt Berkey.
Camp Tice in movement and we received the potion let’s go champ pic.twitter.com/DoLiFKEaeU
— Nick Schulman (@NickSchulman) June 6, 2021
Despite successful the facet wager and the match, Perkins mentioned that Tice was seemingly a giant favourite earlier than the match started.
“I know I’m biased but Landon Tice and team is pretty sharp,” tweeted Perkins. “When they made the bet, they were a huge favorite. I mean, what’s the odds I take this seriously after decades of not. Then when they saw the match, they made the plus EV play. A different Perkins showed up.”
He went on to credit score Gonzales and his coaches for turning him right into a “strong player” in simply three months of coaching.