Bear Stearns Casualty Turns Poker Pro With $8.55 Million Chance
Nov. 6 (Bloomberg) — The collapse of Bear Stearns Cos. left executive Steven Begleiter without much of a plan, so he took his poker pot and went to Vegas.
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Poker terminology:
- CALLER - One who calls. Sometimes used collectively, as in "3 callers".
- LIVE ONE - The best kind of opponent, a poor player with a lot of money to lose and in a hurry to lose it.
- MANIAC - A player who bets, raises and reraises without regard to the quality of his hand. Most often found in flop games.
- TABLE STAKES - A standard rule whereby during a hand players can only bet the money they have on the table. If the bet to a player is more than the player's stack, that player may call with all his chips and be eligible to win only that portion of the pot he contributed to equally. A side pot is created, for which only the remaining players may compete.
- LATE POSITION - For a particular betting round, a player who does not have to act until most of the other players have acted.
- FLAT LIMIT - A variant of fixed limit where all bets are the same amount.
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