Stu Unger: Rise and Fall of a Poker Genius
Stu Unger was a poker prodigy. At the age of 14, he became the youngest player in history to win a World Series of Poker bracelet and by 27, he had amassed over $2.8 million from poker alone. From 2007-2012, his yearly earnings (competitions and online play combined) never dipped under $1 million. And then it all went wrong...
Three years ago, after logging on for what should have been an ordinary day at work, Stu found himself not just unemployed but blacklisted from an entire industry for which he’d spent his life preparing. He was devastated.
Like many other professional poker players who have fallen victim to the explosion in online poker beginning in 2008, Stu found himself losing everything. He even had his bankroll (equivalent to about $300,000) stolen in a series of cyber attacks across several online poker platforms. And while it may be easy to blame the changes that have occurred in the industry on such a dramatic change in player population and over-saturation of the market, there's no doubt that technology and its real-time reach has something to do with it as well. Unfortunately, in Stu’s case, this technological advancement also lead to his downfall.
Poker is a socially or psychologically derived skill set rather than a mathematically derived one. Meaning, the ability to win at poker is partially determined by an individual’s ability to read or “read” their opponents. This type of poker requires that the players are sitting in real-time at a table with each other and can see everything that moves. The social aspect of this game is what gives it such appeal and even makes it accessible for those who wouldn’t normally be considered proficient in math, but rather social science. And this is where the downfall lies.
The accessibility that online poker provides for those who wouldn’t normally have the means to play it has also transformed poker into a more social science than actual skill set. In fact, betting becomes a game of “who blinks first” as opposed to an educated guess or logical strategy. This isn’t to say that there aren’t still players out there who are creating real-life skills and picking up math, but the vast majority of online players are simply creating a socially driven platform for playing an online card game.
In fact, the poker boom that took place several years ago in the United States was so popular that it actually created a surge in demand for social science graduates. This was a time when college students were no longer enrolling in math and science programs, but rather business and social sciences. With the sudden influx of student-driven interest, universities began overwhelming their curriculum with more business oriented courses and programs. And while this may have seemed like a favorable scenario at the time, as it increased enrollment numbers, it ultimately lead to the downfall of many professional poker players who considered themselves skilled mathematicians over socially driven gamers.
Stu is just one example of many poker professionals whose careers were cut short by this unfortunate phenomenon. With the flourishing of online poker becoming a real-life skill set rather than a mathematically derived one, many players have either been shut out from playing in the various tournaments at an early age or have been forced to play purely for “play money” online games. And this is where Stu Unger found himself in 2012.
With all of his possessions and bankroll depleted, Stu was left with no choice but to return home and locate a job. Many professionals blame their fall to the boom of online poker, but Stu believes his difficulties nearly three years ago were actually owed to the fact that he had made an error in choosing to make his living as a professional poker player. Stu’s talent was as a mathematician, and he believed that his skill set had gotten him far in poker. But he soon found that his mathematical abilities weren’t enough to make the same kind of money that he could make as a statistician. And this is where Stu has done everything from managing an IT company with a friend in New Jersey, to counting cards at Atlantic City casinos, to playing again for “play money” on PokerStars.
In fact, Stu at one point even questioned whether or not he was suited for poker. He tried it out during the early days of online poker and found it to be an interesting game. But a year and a half later, he ultimately turned his back on the game of poker for good. But even now, some of Stu’s old opponents continue to contact him, asking if he is still playing online. He's yet to find another outlet for his mathematical talents, but as you can see in his story, Stu has certainly found plenty of other ways to use his skills...
The Rise & Fall Of A Poker Genius (2012)
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