The Muck: Markup Police at it Again Ahead of 2021 WSOP
No arrests have been made following Mike Matusow's 2021 WSOP stake package release, but the Markup Police is on the prowl, so stay vigilant.
All kidding aside, Matusow is charging what some consider markup that is too high. His 13-event You Stake package calls for 1.3-1.5 markup (depending on the event), or a 30%-50% spike the buy-ins. So, if you want $1,000 worth of his action, you'd pay $1,300 to cover the markup at 1.3.
Poker player Andrew Barber was one of the first to call out those who charge investors high markup.
This markup situation in poker tournaments is never gonna go away, is it? Big names are straight up robbing people… https://t.co/1QQkg7vSDi— Andrew Barber 🌐🌹 (@abarber1)
Hellmuth to the Rescue
Phil Hellmuth was quick to defend his good friend. He claims Matusow won 30 of 31 cash game sessions he personally staked "The Mouth" from 2015 to 2019. The 15-time WSOP bracelet winner is no slouch to receiving heavy criticizing for charging rake that many considered high.
Prior to the start of 2018 World Series of Poker, he released a package calling for 1.8 markup, about as high as you'll see any pro charge.
Earlier this week, he told Barber on Twitter that he's made his You Stake customers over $200,000, and he believes Matusow has also turned a profit for his investors.
@phil_hellmuth @YouStake @themouthmatusow Phil, you don't buy a lot of action. I *promise you* that Mike isn't beat… https://t.co/S5bznYFPCw— Andrew Barber 🌐🌹 (@abarber1)
WPT Announcer Isn't a Believer
Tony Dunst didn't hold back when he discovered Matusow's staking request. The World Poker Tour commentator tweeted in reference to Matusow playing $10k's: "I could retire on selling Mike at even money in those things."
Dunst put his money where his mouth is and placed a wager with Max Silver at even money on Matusow losing in those events.
"You're a nice guy and I've always liked you Mike, I just don't think you're beating high stakes anymore. Nothing personal," Dunst tweeted.
Matusow didn't appreciate the critical comments from the WPT announcer. So, he fired back.
Other Takes on Markup
Doug Polk had a different opinion on the markup issue than most others. He isn't focused on if Matusow is a profitable buy at 1.3 or if high markup is scummy. Instead, he's encouraging potential investors to be wise with their money.
Its a free market. Let people decide if they want to invest or entertain themselves. Continue to make fun of horrib… https://t.co/2rVKG62uu4— Doug Polk (@DougPolkVids)
"If the product your after is too expensive then don't buy the product! Incredible how humans complain constantly about freedom. If the product is being sold at too high of a price it'll fail, if its succeeding then it isn't too high," Tom Southwick (@TomSouthwick11) tweeted.
"But Doug, what about people who don't know any better and just trust someones 'word' because of who they are. People automatically just respect that word even though it is wrong a lot of the time," Mark LaPiana (@HeyItsMark275) said in response to Polk's tweet.