Jungleman loses $5 million in Manila high stakes games

Daniel ''jungleman'' Cates recently visited Manila, taking a shot in the high stakes game and according to his Twitter post, he lost 38 million HKD, which roughly equals $5,000,000.

The APPT Manila tournament series kicked off recently in the newly opened Solaire Manila casino/hotel.

Winfred Yu, the poker director of the Poker King Club in Macau (and also an accomplished player) also participated in the event and gave an interview where he talked about the changes in the high stakes games in Asia.

The Manila Solaire opened two months ago and the Macau high stakes games quickly moved here. According to Yu the gambling industry is starting to slow down in Macau and that they are planning to open casinos in the Philippines, Korea and Vietnam aswell.

When asked about which famous players are participating in the games and what the stakes are, Yu answered that currently Daniel ''jungleman12'' Cates, Phil Ivey and Tom Dwan are all playing in a HK$20,000/$40,000/$80,000 game which roughly translates to a $2,500/$5,000/$10,000 blinds, which is the highest stakes ever played in Manila.

Jungleman recently posted about his trip on Twitter:

Jungleman already jumped into the online games and wrote in the chat about a pot where he tried a $1 million bluff (it's not clear whether the money was in HKD or USD) against Tom Dwan but got called.

Yu also talked about 6+ Holdem, a game that Phil Ivey and Tom Dwan recently advertised and which is currently one of the most popular games around.

In 6+ Hold'em hand equities run closer than in regular NLHE games (according to Yu J-T suited and AK are almost equal in value) and the increased variance means that pros don't have such a big edge.

Because of this plenty of businessmen are ready to play with pros, because they know that they have a decent chance to win even if their skills are subpar.