How does a poker player turn from a professional gambler to a full-blown businessman and entrepreneur? Well, I guess we must ask Phil Galfond that question, as in the past few years he managed to do just that.
Even the last few months were highly eventful for Galfond, as he managed to rake poker wins in unusual and exciting ways! What were Galfond's achievements this year? And will the Galfond Challenge be resurrected? Let's find out the answers to those questions!
Galfond Sells His Poker Website
Run it Once has been one of the top poker strategy websites in the past decade. After going online in 2012, Galfond and fellow poker pros taught dozens of aspiring poker players, helping shape the poker community along the way.
In March of this year, Galfond announced that the poker platform he founded was about to be sold to Rush Street Interactive – a renowned company that operates regulated online casinos in the US. In a tweet, Galfond said: "Run It Once Poker’s platform and team, myself included, were acquired by Rush Street Interactive (RSI), with the plan to solidify, enhance, and integrate our software into their platform".
According to reports, the online poker platform was sold for $5.8m: $3.3m in cash and an additional $2.5m in RSI shares. Galfond also shared that it took some time to decide on selling Run it Once. In fact, it took Galfond and his team 18 months to find the right partner that might help them broaden their horizons.
Galfond Challenge Update
A few years back, Phil Galfond challenged multiple players to a game of Pot-Limit Omaha (PLO). Galfond had a lot to prove to the poker community since many people tend to believe that those who can't do – teach. So, did Galfond's coaching history lessen his ability to play the game? Apparently not, as he won most games. That is why it was hard for Galfond to find a new opponent when he wanted to test his skills yet again.
And since nobody was willing to compete with him in a game of PLO, earlier this year, the poker coach announced he was willing to try his luck with No-Limit poker, even though he hasn't played this poker variant for years.
But eventually, a poker dealer that goes by the nickname "ChrisIsLord" accepted the challenge to play $50/$100 PLO. Surprisingly, Galfond ended up losing $7,500 in this match, which came as a shock to us all due to his previous winning rate.
Interestingly enough, Galfond also commented on his planned match against Dan Cates, also known as "Jungleman". When the Galfond Challenge was announced, Cates was supposed to be the second poker pro to compete against the mastermind of the whole thing. However, things stopped there, and the game never took place. Apparently, the two simply have packed schedules, and they weren't able to coordinate a date for the match. In an interview, Galfond said: "…I feel like I need to start maybe pushing for us to do it in bits and pieces."
Apart from that, there's no news regarding the popular poker challenge.
Phil Galfond is one of the most respected poker players out there. From afar, it seems that he made all the right choices to propel his career forward: from poker player he turned into a poker coach. Later he managed to captivate the attention of the masses with his exhilarating challenge, and then – he sold his company for a major profit.
What else does the future hold for this spectacular pro?