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Pepperdine University School of Law

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Monday, July 19, 2010

What Is One of My Classes Worth? $8,026.33

WSOP As regular readers of this blog know, I use clickers in my tax classes (Taking Back the Law School Classroom: Using Technology to Foster Active Student Learning, 54 J. Legal Educ. 551 (2004)) and take the students' performance into account in the final grade.  This places a premium on class attendance. I thought that by now I had heard all possible student excuses for missing class. 

Last week, Andrew Jeter (below, right) one of my University of San Diego students this summer, told me that he was entered in the 2010 World Series of Poker in Las Vegas to honor his godbrother, who died on June 20.  They were best friends growing up, and the godbrother had gotten Mr. Jeter into poker. They had talked about entering the World Series of Poker to play with the pros, but the godbrother died before he could realize that dream.

Jeter The timing of the tournament was unfortunate: if Mr. Jeter made it past the opening two rounds, he would have to miss at least my Monday class (and more if he kept winning).  I told him that, like all students, if he missed class he would not be able to earn credit for any clicker questions asked that day.

Mr. Jeter ended up doing quite well in the tournament, finishing 568th after getting knocked out by poker legend Johnny Chan:

Andrew Jeter committed his last $42,000 before the flop, moving all-in from the small blind after Johnny Chan opened from under-the-gun. Chan made the call.

Jeter's K/8 went up in flames when Chan flopped a set of threes, the board running out Q/3/2/A/J. Chan is up to $1.17 million.

Mr. Jeter walked away with $24,079, which presumably took the sting out of missing three of my classes.

Update:

http://taxprof.typepad.com/taxprof_blog/2010/07/what-is-.html

Celebrity Tax Lore, Legal Education, Tax | Permalink

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Comments

But what if Zarin had skipped your class and went to Atlantic City instead?

Posted by: mike livingston | Jul 19, 2010 11:54:08 AM

Is the $24k net of the $10k entrance fee or gross? If gross, we're only talking $4.7k a class. Kudos to your student.

Posted by: PES | Jul 20, 2010 12:21:29 AM

It is gross so he netted $14k. I am not sure what the blinds were at that stage but K8, even suited, is not a good hand, especially if someone opened under the gun. Still, if the blinds were high enough (and they may have been since Chan called with a relatively weak hand), it may have been the right bet. From the board, though, Chan did not have to flop the set. His pair of 3s before the flop ended up being enough. Still, kudos and far better than most.
Also, it is not clear if he paid $10k to enter or won in a satellite tourney. So, he may have netted even more.

Posted by: Skipp | Jul 21, 2010 10:37:53 AM