What Was Sam Farha Thinking?

michiganlaw · #1 07-08-2005, 12:12 AM

Not sure where to post this, but since the discussion occurred in the Bellagio, the post goes here...

It's 1 a.m. on Sunday morning, July 3rd at the Bellagio. I'm chilling at the bar just outside the poker room (just to the right of the High Limit poker room for you Bellagio guru's). I spot Sam Farha grabbing a drink at the same bar and me and my wife decided to ask for his autograph. He obliged, very nice guy. Here's the crazy part...

I told him I was pulling for him against Moneymaker in the 2003 WSOP. His response was that he was actually hoping Moneymaker won the tourney!!! I was baffled, but of course, did not ask him why in attempt to show respect.

I take Sam Farha for his word, not knowing any better, so don't assume he was kidding...certainly he said it with a straight face, with no hint of a "bluff," if you will.

I've developed my own theory on this (which I'll share shortly) BUT WHY THE HELL WOULD FARHA WANT MONEYMAKER TO WIN THE 2003 WSOP, when it gets down to heads-up action?

Conspiracy theorists unite...what are your thoughts as to why Farha would want Moneymaker to win?

The Nutz85 · #2 07-08-2005, 12:21 AM

remember the hand where money maker bluffed all in on the river. I beleive he won because since him winning everyone thinks they are chris moneymaker i mean look at the turn out for wsop this year. and in turn sam and all the boys get to prey on fish after fish after fish who think they can duplicate.i am prob wrong but it sounds interesting

Bremen · #3 07-08-2005, 12:22 AM

Because it would better serve to bring more fish in? Seriosuly though cash in hand is worth alot more.

SDA004 · #4 07-08-2005, 12:23 AM

It would attract more fish into the high stakes games. It would make people think that they could be the big players after they saw it on tv and would no longer be scared of the pro's. That said, I have a hard time believing that he truly wanted to lose to moneymaker heads up.

michiganlaw · #5 07-08-2005, 12:27 AM

[ QUOTE ]
I have a hard time believing that he truly wanted to lose to moneymaker heads up.

[/ QUOTE ]

A few more posts/thoughts and I'll explain to you why it makes perfect sense for Farha to want Moneymaker to win 1st place...my theory is not what has been discussed in the replies thus far. Great thoughts though!

TripleH68 · #6 07-08-2005, 12:36 AM

[ QUOTE ]
[ QUOTE ]
I have a hard time believing that he truly wanted to lose to moneymaker heads up.

[/ QUOTE ]

A few more posts/thoughts and I'll explain to you why it makes perfect sense for Farha to want Moneymaker to win 1st place...my theory is not what has been discussed in the replies thus far. Great thoughts though!

[/ QUOTE ]

Tax purposes?

Seriously the only place it seems you may be headed is to say that the final table was MUCH more memorable because the underdog won. The replays and the notoriety Farha continues to receive is perhaps greater than if he actually won.

Look at how famous Phil Mickelson became by not winning the major.

Still doesn't make much sense to me though. Perhaps he was yanking your chain a little bit.

michiganlaw · #7 07-08-2005, 12:44 AM

[/ QUOTE ]

Tax purposes?

Perhaps he was yanking your chain a little bit.

[/ QUOTE ]

Without actually knowing Sam Farha's true intentions, here's my best theory as to why Farha would want Moneymaker to win.

Farha and Moneymaker enter an agreement to split the winnings (trust me, these agreements happen all the time at MTT's) regardless of who wins and who places. So, now both of them are looking at roughly $1.6 million a piece. Yet the winner is looking at a tax liability of roughly 40% of 2.5 million (the winner's purse in 2003), whereas the person who merely places only needs to pay taxes on the second place purse.

So, I can only come up with tax purposes? I think any effect of having Moneymaker winning on the fishies entering high stakes ring games would be marginal at the very best!

Just my opinion though...didn't want to seem like a stalker and ask him to clarify after already asking for his autograph.

steamboatin · #8 07-08-2005, 12:45 AM

The world Champion has to make a lot of appearances and maybe the time spent away from the big game is -EV

theredwave · #9 07-08-2005, 01:12 AM

[ QUOTE ]
Without actually knowing Sam Farha's true intentions, here's my best theory as to why Farha would want Moneymaker to win.

Farha and Moneymaker enter an agreement to split the winnings (trust me, these agreements happen all the time at MTT's) regardless of who wins and who places. So, now both of them are looking at roughly $1.6 million a piece. Yet the winner is looking at a tax liability of roughly 40% of 2.5 million (the winner's purse in 2003), whereas the person who merely places only needs to pay taxes on the second place purse.

[/ QUOTE ]

Wasn't Moneymaker an accountant? I doubt that with such a large sum of money that even a bonehead would not factor taxes into a deal.

J.R. · #10 07-08-2005, 01:42 AM

[ QUOTE ]
Farha and Moneymaker enter an agreement to split the winnings (trust me, these agreements happen all the time at MTT's) regardless of who wins and who places. So, now both of them are looking at roughly $1.6 million a piece. Yet the winner is looking at a tax liability of roughly 40% of 2.5 million (the winner's purse in 2003), whereas the person who merely places only needs to pay taxes on the second place purse.

[/ QUOTE ]

negative ghostrider, this would be tax evasion