The Galfond Challenge comes to an early end after player’s massive losses
Phil Galfond loses just under $1 million and decides to hang up his cards
After the massive losses Phil Galfond suffered during his own challenge against ‘VeniVidi1993,’ it isn’t a surprise that he decided to cancel the action, at least for now. Galfond’s challenge to promote his online poker site was supposed to run for 25,000 hands of Pot-Limit Omaha but, after 15 sessions and 9,927 hands, he had lost around $982,328. It seemed to be each session would just go worse for Galfond, and, during the last three sessions they played, he lost $457,224. That was enough for Galfond to decide to pull out of the challenge.
After those 15 intense sessions, the players decided to not play on Monday to have a day off, and the next session was supposed to be yesterday, but that’s when Galfond suspended the match, at least until March. “I was playing scared,” Galfond wrote in a tweet explaining his decision. “I was expecting to lose. I simply couldn’t get my brain to work properly.”
According to the online poker site owner, the most difficult part for him to deal with was not the money lost as people might think, but the disappointment behind the expectations and what the result was. Since there were six more sessions scheduled for February and they will not be played, Galfond is facing a $3,273 penalty for each session that he decides to postpone. He probably is in real need of that time since anyways as he won’t resume sessions until at least March 1.
Galfond does have the option to step back from the challenge and put an early end to it paying the agreed penalty of approximately $218,237, and he will decide so by the beginning of March. “I hope I feel prepared to come back and put on a good show for you all, but I know that realistically, as much as I don’t want to, there’s a chance I’ll have to just take the loss,” Galfond said.