From Wall Street to Full Tilt

Wall Street's former financial whiz kids are turning to online poker in increasing numbers during the downturn.

What do playing poker and playing the financial markets have in common? Plenty according to a number of experts. Both require an understanding of probability, an ability to read the plays of others, and a thick skinned swagger to help put opponents off their game. Yep, poker players and wall street bankers are peas in a pod.

And with financial markets in turmoil and more pink slips than bonuses being handed out at the big investment banking firms, it has come to light that ex-bankers are migrating to poker rooms.

And its not just those who have been given their marching orders. Some still employed in the financial industry are looking to supplement non-existent bonuses with a little poker income on the side. While others have taken it up as a full time pursuit.

"Some friends have told me that my greatest trade ever was Lehman for poker," says one former Lehman employee now earning a living playing poker online and in Vegas. "After things got bad I upped my poker hours significantly."

It's just more lucrative in the current climate for someone who knows what they are doing. And as another convert points out, its also a lot easier than investment banking.

The similarity in skill set between poker and trading have long been recognized. One well known investment firm has for some time now required its new recruits to read gambling strategy bible Getting the Best of It, while others have looked favorably on potential employees with poker playing expertise. Its just a natural fit.

So next time you're up against a cagey opponent in Full Tilt, ask if they were recently axed from Lehman Brothers.