Erik Seidel: Poker Legend Continues To Crush High Roller Circuit After Three Decades Of Success

Erik Seidel is one of the most accomplished and revered poker players in history, having won eight World Series of Poker bracelets, a World Poker Tour event, and an additional 19 live tournament titles. With more than $24.4 million in live tournament earnings, the 55-year-old poker legend sits in third place all-time behind only Antonio Esfandiari and Daniel Negreanu.

Seidel grew up in New York City playing backgammon before moving on to trading stock options on Wall Street. After the 1987 stock market crash, he moved onto poker, playing at the famed Mayfair Club along with future poker greats such as Stu Ungar, Steve Zolotow, Dan Harrington, and Mickey Appleman.

Seidel’s first recorded tournament cash is perhaps his most notorious accomplishment, for after he finished second in the 1988 WSOP main event to Johnny Chan, he was immortalized in the 1998 cult classic poker movie Rounders. But despite nearly 30 years in the game, it’s incredible to realize that 58 percent of his career tournament earnings have come after his 50th birthday and his induction into the Poker Hall of Fame.

Although it would be difficult to match his career year of $6.55 million in 2011, Seidel is well on his way so far in 2015, having banked $3,674,584. He started 2015 off with a sixth-place finish in the Aussie Millions AUD$100,000 buy-in tournament for $388,450 and then followed that up later in the series with a fifth-place finish in the AUD $250,000 buy-in tournament for another $428,127.

He then took down a $25,000 high roller tournament at Aria for $159,230 before heading to Monaco for the €100,000 buy-in high roller event at the EPT Monte Carlo Grand Final, which he won for $2,250,999, the second largest score of his career. Then in late May, he chopped up yet another Aria high roller for another $354,000. As a result of his success, Seidel now finds himself in 14th place in the Card Player Player of the Year race.

Card Player caught up with Seidel during the 2015 WSOP to discuss his game, the current state of poker and what he wants out of the rest of his career.

Julio Rodriguez: You’ve been playing since the late ‘80s, but the majority of your winnings have come in the last five years. Other pros who were famous during the poker boom have faded away, but you’ve stayed on top of your game. What do you attribute your recent success to?

Erik Seidel: Well, I wouldn’t say that I’m the only guy who is still around from those days playing at a high level. There are a lot of guys who were very good back then that are still doing well and putting up results, but obviously it has become a much tougher environment to win in.

Also, it’s not like I feel like I have the game solved. One of the things that’s missing from my game is that I need to work harder on analyzing the situations that come up from time to time. A lot of these younger players have brought in all of this data and they understand some of these concepts so much more than I do. I’ve watched a couple of videos, but for the most part, I haven’t put as much work in as I should.

I felt very motivated at the beginning of this year. I don’t know what it was, but at the end of 2014, I started to see some stuff that was completely new to me. There were things popping up that I knew that I could add to my game. Obviously, I’ve run really well this year, but I feel good about how I’m playing.

JR: After three decades in poker, it’s incredible to think that there are still nuances of the game that are new to you.

ES: That’s the appeal to the game. That’s why poker is so much fun. Every day is a new learning opportunity and every day you have the chance to become a better player. The challenge of solving a new problem is what really intrigues and stimulates me. It’s so much fun to sit at the table and watch these kids who are incredible players and try and figure out what they’re doing differently and how I can counter it or use it myself.

JR: The last time you were featured on the cover of Card Player, you said that you used to always have a fear of going broke. Is it safe to assume that you no longer have that fear?

ES: Hopefully I’m beyond that point, but money is still a motivation for me. Having said that, I would still play if there were no money involved. I like to compete. It’s still very fun for me to come out and think through hands and hopefully win. I’m still thrilled when I win a huge prize, but what brings me to the table is the fascination I have with the game. It’s my own personal challenge to bring my A-game whenever I sit down

JR: When you were first starting out, did you ever think poker would one day grow to what it is now?

ES: I was not a visionary. It surprises me every day to come in and see what poker has become. My original dream was much smaller. I had a friend who would play mid-stakes limit games and I was just in awe of the fact that he could make a living playing as high as $10-$20 or $20-$40. At that point, I had no thoughts that I could ever play higher than that. In the early part of my career, I think I lacked the confidence necessary to believe that I could ever have any sort of major impact on the game.

JR: What was your main motivation when you were coming up the ranks earlier in your career?

ES: Ruah, my wife, and my daughters are my secret weapon. I do feel like family is my number one motivating force. When I first started playing, I would win money and it didn’t have any meaning. But once you have a family, your focus changes because all of a sudden you need to win or your family isn’t going to eat. Not only the motivation, but they are still incredibly supportive. Even today when I make a big final table, they’ll sweat the action online.

JR: During your career you must have seen it all, so what gets you excited at the table? Do you still have those moments of terror at the table where your heart is beating through your shirt during a big bluff?

ES: I don’t know that I still feel that when running a big bluff or I’m about to win a tournament or something. I think I get excited when I find something that works. When I figure out a play, that’s when I feel it at the table.

JR: You’ve obviously done very well at the World Series of Poker and on the World Poker Tour, but it’s these big buy-in high roller events where you’ve really shined in the last few years.

ES: It’s really interesting, because it kind of reminds me of the old days because you play the same people over and over again. When I first started playing poker, there was only one $10,000 event a year. I had this fantasy where I would say, ‘if only there was one $10,000 event a month, then I could really count on making a living playing poker.’ Now you have a high roller event every month or more, and it seems like they are sustaining themselves and are here to stay.

I approach the high rollers differently than I do a regular tournament. I make sure I’m well-rested beforehand so that I can focus all of my energy on playing my absolute best. Even in a $10,000 tournament, I’m not as invested, and in some cases, I might even be going through the motions. But the $100,000 and higher are really a challenge because I feel like every single decision is amplified and becomes so important.

JR: Can you think of a big mistake you made in your career and how it affected your development as a player?

ES: There are a lot of moments that come to mind, but it’s really funny. Sometimes I’ll make a mistake and I’ll get excited by it, because there’s something I can learn from it. Of course, I’m not looking to make mistakes, but when they happen they can be happy accidents.

Even when I see bad players make mistakes, I can always learn from it. I remember this guy back when I was playing at the Mayfair Club who was not a good player, but he went on this really successful streak. I remember telling myself that this guy must be doing something right, and obviously we’re all missing it. That’s happened to me a couple times where I’ve seen a guy whose game I wasn’t particularly impressed with, but who had something useful for me.

JR: Do you ever fear that you’ll lose your edge?

ES: I fear it every day, but I don’t think I have any particular edge. I just go in, try to figure things out, and hopefully it works out. For me, it feels good to be able to play with these guys. I’m honestly just as much of a fan as I am a player, especially of these young kids who are always bringing something new to the game.

JR: It still seems like you are pretty modest about your abilities today, despite all of your accomplishments. Where do you see yourself among your peers?

ES: That’s a really difficult thing to judge.

JR: Not for some poker pros. A lot of players would jump at the opportunity to tell you why they are the best.

ES: (Laughing) Maybe it’s one of my strengths that I don’t have the delusion that I’m the greatest player in the world. Every day you play against people who have extraordinary minds that have put a tremendous amount of work into their games. You hear them talk about the game and you’re amazed at the level they are working on. I think it would be foolish to ever think you had the game figured out or that you were the best around.

JR: How do you want your career to be viewed when it’s all over? Do you have any set goals?

ES: I don’t have any plans. It’s nice that I’m up there on the winnings list, but I don’t have a set amount of money or bracelets I’d like to win to cement a legacy or anything like that. My goal is to keep competing at a high level for as long as I possibly can. Not only do I want to be able to play for a long time, but I want to feel just as excited to play as I do now. If you look at someone like Doyle Brunson, to me, that’s the most remarkable thing. I think he’s 81 years old and he’s still playing with the best players in the world, more than holding his own every single day. I don’t know that there’s a precedent for that in any profession. Maybe there’s some writers or architects out there who are still going strong into their eighties, but there can’t be many. If I can go that long and still play well, then that’s all I’ll need. ♠

Top 10 Scores Of Erik Seidel’s Career

Of Seidel’s 225 career tournament cashes, an incredible 48 of them have been six figures or more. Seidel has had an absurd amount of success at the Aussie Millions, where he has earned a total of $6,214,882 or approximately 25 percent of his lifetime earnings. In fact, seven of his top 17 cashes have come in Australia.

Seidel has been remarkably consistent since poker exploded in popularity back in 2003, with his worst year being $125,356 in 2006. During that span, he has won more than $21 million, more than five times the amount he had earned in his previous 15 years as a pro. Since the poker boom, Seidel has been averaging just over $1.6 million each year in tournament winnings.

Rank Year Event Buy-In Finish Prize (USD)
1 2011 Aussie Millions Super High Roller AUD$250,000 1 $2,489,747
2 2015 EPT Monte Carlo Grand Final High Roller € 100,000 1 $2,250,999
3 2011 Five-Star World Poker Classic High Roller $100,000 1 $1,092,780
4 2008 WPT Foxwoods Poker Classic $10,000 1 $992,890
5 2014 Aussie Millions High Roller AUD$100,000 3 $963,558
6 2008 Aussie Millions Main Event AUD$10,000 2 $880,000
7 2011 NBC National Heads-Up Poker Championship $25,000 1 $750,000
8 2013 EPT Barcelona High Roller € 50,000 2 $745,224
9 2013 WPT Five Diamond High Roller $100,000 2 $650,100
10 2011 Aussie Millions High Roller AUD$100,000 3 $625,000