Pokerstars Joe Cada wins the 2009 WSOP Main Event

[Fonzi]

Joe Cada, 21 years old, became the youngest ever winner of the WSOP Main Event when he outlasted Darvin Moon to with the coveted bracelet and the $8.5 million dollar first place prize. While many thought this would be over very quickly gven that Cada had a sizeable chiplead and much more experience going into heads up play, Moon played a strong game early on to come back and actually take over the chiplead within the first 10 hands.

Cada who's a college drop out had this to say after his victory, "I'd like to thank all my fans and my friends," a very emotional Cada to the fans in the Penn & Teller theater. He then went on to tell reporters: "It's really surreal right now."

Moon earned $5.1 million for his second place finish. Clearly disappointed, Moon still walked away with more money then Cada who has to split his first place prize with his backer Cliff "JohnnyBax" Josephy.

Make sure to tune in to ESPN tonight for the final table broadcast. I guarantee you'll see some hands that will make your jaw drop.

[Fonzi]

One of my sources just told me that Joe Cada may have to give JohnnyBax somewhere between 50-60% of his earnings. We've also learned that Cada's agent may be getting a piece as well. The poor kids will be left with only $2 million after taxes if he's lucky. SICK!

[lkport]

Thats what happens when you can't manage your own roll and can't afford the $10k buyin.

[dodonumber2]

Originally Posted by lkport

Thats what happens when you can't manage your own roll and can't afford the $10k buyin.

:idea::smile: and Next year when it's You stan in tht spot winning 7 million we know that you won't owe No one cuz those credit cards will be paid off... i'd take 2 million and split with people who helped me along the way.... but i'm not greedy :wink:

[Fonzi]

I just read a story about how Cada bought and paid in full for a house when he was 19. My question is this, if you're doing so well, why get a backer for half your Main Event buyin? To me it's mind boggling. That 5k cost him 4.25 million. Excuse me while I go throw up.

[Tomturkey46]

I think I will join you, that is not plesnce thinking on that.

The turkey:no:

[Fonzi]

The national media is giving Cada big props for warning new players about thinking that poker is a quick way to make a lot of money. Here's what he told the Detroit Free Press: "For every high I've experienced the lowest of lows.” Cada told the media outlet, “It definitely can be a living, but it’s one of those things: You have to be very careful when you decide to make it a living. More people lose than win.”

Joey, we agree with you 100%. For anyone reading this and thinking abut playing poker seriously, we suggest you search our site for articles we've posted on proper bankroll management.