Why Mike Caro Would Burn a $100 Bill at the Table

Halloween is all about tricks and treats. In the poker world, though, one of the names who knows this game best is Mike Caro. Known as the Crazy Genius of Poker, Caro once pulled a very different trick at the table: he would burn $100 bills in front of his opponents. His goal was to collect the money he hoped to win from them after the show.

Now 82 years old, Caro spent most of the last twenty years outside the poker world. He then appeared as a guest on the PokerNews Podcast for a two-part special interview with Chad Holloway. During the conversation, he explained why he sometimes burned money that was still in good condition. The topic came up when it reached a piece of advice Faraz Jaka had shared: sit down, burn a $100 bill, and then play like a miser.

Caro confirmed that he had really done this many times. In his view, this did not mean he didn't care about money. On the contrary, he did the display because he cared about money. Caro had a saying: a poker player should care about money but act as if he doesn't.

The burned bill created the image of someone who spends money carelessly and without a plan in the eyes of his opponents. In reality, Caro was a patient player, ready to wait for the right opportunity. In bigger games, $100 was not an expensive price for that reputation. According to Caro, it was a very cheap advertisement.