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Episode Info

Episode Info:

In this episode, Wayne Yap, high-stakes poker professional and advisor, reveals how he made his way to the top despite severe financial adversity – and a two-year stint in the army. Elliot and Wayne discuss the importance of studying and building a network within the poker community. Listen in to hear an expert share his strategic thinking, practical game theory, and mindset mastery tips so you can jump stakes and play bigger.

Visit The Mindset Advantage Podcast or find us on iTunes to subscribe, visit previous episodes, and learn more about your host, Elliot Roe.

Time Stamped Show Notes:

  • 00:50 – Introducing Wayne, his journey, and direction
  • 01:20 – His started by playing small games in Singapore; his parent’s business was failing and he went into the army for two years at that time
  • 02:00 – He didn’t have the money to practice his game so he downloaded poker videos and would watch them while out in the jungle while in the army
  • 02:40 – The importance of studying
  • 02:57 – Learning is important in any field if you want to improve and succeed
  • 03:07 – The learner’s mindset is the most important thing
  • 03:25 – How he ensured his improvement and success
  • 03:32 – He had financial pressure so he felt like he had to get good
  • 03:55 – After the army he went to Macau with some good high-stakes poker players and because he studies math and statistics he was helpful to them
  • 04:10 – He learned from them and was valuable to them; this helped set up his network
  • 06:05 – How long it took him to support himself through poker
  • 06:22 – He got into high-stakes in about six years
  • 07:05 – He didn’t appreciate it then, but does now looking back
  • 07:42 – The mindset needed for the system used in Macau
  • 07:53 – He said it was lucrative but killed brain cells
  • 08:30 – Sessions run 24 - 30 hours and some do doubles to play longer with VIPs
  • 09:33 – It’s not professional; after 20 hours, they are delirious and need to release awkward energy
  • 10:50 – He knows only 5-10 people who like it to some degree; most of the time they’re miserable and tired and are doing it for the money
  • 11:55 – He got very bonded with the people he played with; everyone became friends
  • 12:38 – How the VIPs play in Macau
  • 12:48 – The ones that come back to play want to be good players but don’t care about losing money
  • 13:20 – They don’t care about the game but get to make friends with pros
  • 13:50 – Advice for player who want to get to high-stakes
  • 13:55 – Decide whether you want to be good at poker or be good at poker and make money
  • 14:20 – Poker is dynamic; GTO is not the angle
  • 15:37 – You can’t ever practically apply the exact solver outputs; you work on assumptions that can be wrong
  • 16:30 – Don’t get stuck on the theory part
  • 17:20 – Things Wayne sees around mindset
  • 17:35 – The biggest mindset flaw is that people take things too seriously
  • 18:25 – Letting emotions get to you has a negative compounding effect at the table
  • 19:10 –The money you have is more valuable than the money you earn; find your threshold and know how much money you need and what you can afford losing
  • 20:50 – Know your emotional limitations around losses
  • 21:13 – What Wayne would’ve done differently
  • 21:50 – Strategy-wise, zoom out a few levels from where you are
  • 23:10 – Wayne’s next steps
  • 23:25 – He explored block chain and made investments
  • 23:45 – He wants to educate, train, and empower others
  • 24:05 – He plans on doing cryptocurrency education and feels he brings a fresh perspective
  • 24:33 – He’s teaching people how to play and make money playing poker; it’s important to build soft skills 

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