Binance Charity Poker Tournament, Can You Beat It?

June 3, 2020

Did you hear about the Binance charity poker tournament? As a poker player and cryptocurrency enthusiast, this is a must-play event!

You might raise an eyebrow when I say that, but let me tell you why.

Poker & Crypto a True Love Story

The majority of poker professionals own cryptocurrency. Not only does this highly volatile asset require a high-risk tolerance, as does poker. But Bitcoin and other crypto coins serve a purpose to the online gamble community. It’s an easy asset to trade for fiat currencies.

As online players play on several poker networks with different fiat currencies, it can become a struggle to get your poker profits to your bank account. It’s not a walk in the park to open bank accounts abroad. Just this week I got declined by several Thai banks to open an account.

So when you start winning a bunch of dollars, euros, Yuans, or Baths, you created a problem for yourself. How am I supposed to withdraw my money?

This is where crypto comes into play. There are several places to trade BTC for fiat money on poker clients with other players. This way one party gets the fiat he needs, while the other receives crypto to withdraw his profits, which he hopefully starts investing.

And let’s not forget that there are many Bitcoin Casino’s where you can play or cash out in crypto, like Seals with Clubs back in the days.

The Binance Charity Poker Tournament

binance charity poker

On May 15th, one of the biggest exchanges in the world held a charity poker event in collaboration with the Pioneer’s club and Bitcasino.io. The event is organized for the #cryptoagainstcovid cause.

At the time of writing, they have already raised $150K, and Binance is matching all donations 2:1. On top of that, 100% of the players’ $100 entry fee will be donated.

I think it’s great that the crypto community is showing its giving side once again. But why I personally love this tournament is the opportunity to play against some of blockchain’s and poker celebrities, including, Charlie Lee (Litecoin), Brock Pierce (EOS), and WSOP main event winner Jamie Gold.

So Who Won The Event?

It wasn’t me. In fact, I couldn’t even join the tournament. I received an invitation the day before and figure I’d buy in when the events starts.

Ten minutes before the event, I boot up my laptop and I’m getting fired up to start playing against a few of my blockchain idols. However, the registration was already closed. Apparently it closed a few hours before the charity poker tournament started, so I was left with my only last option: “rail-bird”.

And the winner is…..

Charlie Lee, the founder of Litecoin, claimed the poker throne and donated all the profits to charity.

Can I Beat This Game?

poker player

In one word: impossible.

As the pricepool is fixed, the more entry’s the lower your ROI.

Even though the skill level of the cryptopreneurs is most likely lower than the average poker tournament, if the buy ins go to charity instead of the pricepool you’re not +EV.

But, we don’t mind donating a few bucks to the Binance Charity to help fight against COVID right?

Will Binance Host Another Charity Poker Game?

Don’t quote me on this, but I’ve heard rumors it will be a returning poker tournament. Keep an eye on this site to find the new dates and to register.

Next time, I’ll be sure to register my $100 a day before the tournament starts, and if you join aswell I’ll see you at the final table.

****
Did you enjoy this article? Every share & comment matters. Post a comment with your thoughts below and share it to help others find it.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

You may also like:

The Otherside Metaverse Details, How to Spot a Deal

The Otherside Metaverse Details, How to Spot a Deal

A few months ago, the team behind the Bored Apes (BAYC) announced the public sale of their metaverse “The Otherside”. This was the most anticipated mint of 2022, and boy, it did not disappoint. What got the buzz going was this trailer:...

My First 4 Weeks as Crypto Punk 2498

My First 4 Weeks as Crypto Punk 2498

Before I dive into my most expensive online purchase ever (68 ETH ~ $218k), let’s first find out what exactly is a Crypto Punk. They are a unique collection of 10,000 pixelated art images with 24×24, 8-bit resolution. Conceptualized by Matt Hall and John Watkinsonas a...

How to Set up Your Ledger Wallet on MetaMask

How to Set up Your Ledger Wallet on MetaMask

With the NFT bull market in full force, it's time to help you guys work on a bit of security by setting up your Ledger wallet on MetaMask. We all love our NFTs that go up in value, and it would be a shame if we lose our digital assets by getting hacked or by being...