Dan Cates almost went bankrupt over bad business deal

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Posted on: May 1, 2020 6:35 pm EDT

Even the best poker minds can fall victim to bad advice

A lot of people within the poker community have heard at least once the name Dan “Jungleman” Cates. The poker pro started as a teenager and developed into one of the top-rated heads-up cash players on the planet, delivering to fans tons of exciting poker action. He has a remarkably interesting story about his poker passion and how he became successful; unfortunately, being young and naive almost led him to bankruptcy when he trusted some alleged friends who got him involved in a bad deal.

Right from the beginning of his career, Cates was recognized for being a big loser, and he even worked at McDonald’s to get more money to top his bankroll while he was still in the learning process. His college phase was spent doing nothing more than grinding sit & go’s in his room. Once he learned the game and started to see some real earnings, he had to go through some people taking advantage of him.

Cates was supposed to be backing some supposed friends in a business deal, which ended up clearing almost all his net worth. He didn’t realize that he was being played into investing most of his funds, and, when he realized what was going on, he managed to negotiate his way out of the deal, but without giving further details of what the bad business was. At least he was able to save himself from derailing his poker career.

As a high-stake cash player, the biggest pot Cates has ever won from a hand was back in 2010 in a PLO hand against Patrik Antonius. The hand was for $300/$600 stakes and, in a raise race from both competitors, Cates ended up winning a $376,844.50 pot.