Okay, I'll be the first to admit I'm not a gambler and I've never understood flipping.  Even for action junkie degens, it has never seemed to make sense to me.  The lifetime return is 50-50, so where is your edge? If it isn't a flip and you don't have an edge, than your opponent does and they are giving that up to agree to the flipping.  How exciting is it to flip a coin?  It often seems to be initiated by someone who is losing already, frustrated, and looking for a quick return to even or a greater hurting. 

Today's high stakes example comes from none other than Ziigmund and Phil Ivey.  Ziigmund had been playing Durrrr heads up for a while, that I missed.  Tom had about 300k and Ziigmund 400k before Durrrr had to leave.  Ziigmund then jumped on Ivey Thunderdome.   Nothing too notable occurred early as Ivey pulled to a 60k lead while they discussed Ziigmund possibly coming to London to play in the big cash games with Cyr.  Then in the next 30 hands Ivey won pots totally $835k vs. Ziigmund pots won totaling $218k (for a $617k difference).

- Ziigmund then initiated the flips request ($100k each, except for one $200k flip)
- Ivey won the first two
- Ziigmund requested $300k be loaned
- They did 10 flips in total (with one being a $200k flip)
- Ivey won 7 including the $200k flip to Ziigmund's 3.
- Ivey transferred 200 more but had to leave and urged Ziigmund not to jump off a balcony.
- Ivey left with $953k in under an hour.

Edited text of the 40 hands....(I bolded some of the more interesting chat)

Phil Ivey wins the pot ($161,999.50) with three of a kind, Kings
Ziigmund: aw4 y
Ziigmund:  dg
Ziigmund: nj
Ziigmund: aryjä'sryj
Ziigmund: sryjsry'syjsryjjxr
Phil Ivey wins the pot ($1,999.50)
Phil Ivey wins the pot ($53,999.50)
Ziigmund wins the pot ($41,999.50)
Ziigmund wins the pot ($17,999.50)
Phil Ivey wins the pot ($17,999.50)
Phil Ivey wins the pot ($2,000)
Ziigmund wins the pot ($17,999.50)
Phil Ivey wins the pot ($45,999.50)
Ziigmund wins the pot ($2,000)
Ziigmund: zzzzzzzzzzzzz
Ziigmund: zzzzzzzzzzzzzzzzzzz
Phil Ivey wins the pot ($2,000)
Ziigmund wins the pot ($5,999.50)
Ziigmund wins the pot ($17,999.50)
Phil Ivey wins the pot ($1,000)
Phil Ivey wins the pot ($2,000)
Ziigmund wins the pot ($5,999.50)
Phil Ivey wins the pot ($5,999.50)
Phil Ivey wins the pot ($1,000)
Ziigmund wins the pot ($1,000)
Ziigmund wins the pot ($47,999.50)
Ziigmund wins the pot ($15,999.50)
Phil Ivey wins the pot ($5,999.50)
Phil Ivey wins the pot ($5,999.50)
Phil Ivey wins the pot ($43,999.50)
Phil Ivey wins the pot ($31,999.50)
Phil Ivey wins the pot ($208,991.50) with two pair, Aces and Jacks
Ziigmund wins the pot ($1,000)
Ziigmund wins the pot ($41,999.50)
Phil Ivey wins the pot ($2,000)
Phil Ivey wins the pot ($240,998.50) with two pair, Kings and Threes
Ziigmund: ok
Ziigmund: 1 flip
Phil Ivey: k
Phil Ivey shows [7h Qc Ac Qd]
Ziigmund shows [2s Qh 3s 2h]
Phil Ivey wins the pot ($199,999.50) with two pair, Kings and Queens
Ziigmund: ok 1 more all in
Phil Ivey: k
Ziigmund shows [2d Jd 6d 9s]
Phil Ivey shows [6c 4h 6h Kd]
Phil Ivey wins the pot ($137,714.30) with three of a kind, Sixes
Ziigmund: send me 300
Ziigmund: lets flip few more
Phil Ivey: i sent it
Ziigmund: ok
Ziigmund: wait
Phil Ivey: yessir
Ziigmund: f
Ziigmund: u
Ziigmund: cigaret
Ziigmund: back in 3 min
Phil Ivey: don't let money change u
Phil Ivey: lol
Ziigmund: ok 1 flip
Phil Ivey: k
Ziigmund: then cigarette
Ziigmund: then more flips
Phil Ivey shows [Qs 2c 8d 3s]
Ziigmund shows [5s As Qc Td]
Ziigmund wins the pot ($199,999.50) with two pair, Kings and Tens
Ziigmund: 100k each
Phil Ivey: 100 ok
Ziigmund: yes
Ziigmund: now i win
Ziigmund: lets bet flop
Ziigmund: 10k
Phil Ivey: k
Ziigmund: 9TJA
Phil Ivey: kq87
Ziigmund shows a pair of Aces
Phil Ivey shows two pair, Kings and Eights
Phil Ivey wins the pot ($199,999.50) with two pair, Kings and Eights
Ziigmund: and 100k
Phil Ivey: k
Ziigmund shows [4d 9c 2d Ah]
Phil Ivey shows [9s 7d 6s 3c]
Phil Ivey wins the pot ($199,998.50) with a straight, Six high
Ziigmund: more
Phil Ivey: again
Phil Ivey: k
Ziigmund shows [Kd 8c 6c 2c]
Phil Ivey shows [Ts 9c 6d Qd]
Ziigmund wins the pot ($199,999.50) with two pair, Kings and Eights
Ziigmund: 100 each
Phil Ivey: k
Ziigmund: 3679
Phil Ivey: aj23 spades
Ziigmund wins the pot ($199,999.50) with a straight, Ten high
Ziigmund: 100 each
Phil Ivey: k
Ziigmund: Akj5
Phil Ivey: what do i need to bet
Ziigmund: hahahaha
Ziigmund: 37
Ziigmund: what u have
Phil Ivey: q982
Ziigmund: TILT
Phil Ivey wins the pot ($199,999.50) with two pair, Queens and Nines
Ziigmund: 200 each
Phil Ivey: k
Ziigmund: 599T
Phil Ivey: 3568
Phil Ivey shows [3s 5s 8s 6s]
Ziigmund shows [9c Tc 9s 5c]
Phil Ivey wins the pot ($399,997.50) with a straight, Eight high
Ziigmund: last one
Phil Ivey shows [Ad 6d Td 5c]
Ziigmund shows [Js 6s Ah 9s]
Phil Ivey wins the pot ($199,999.50) with a straight, Six high
Ziigmund: cool
Ziigmund: no london
Ziigmund: jumping from balkony
Phil Ivey: lol
Phil Ivey: don't do it. i will have no one to flip with me
Ziigmund: send me some
Ziigmund: lets play more
Ziigmund: y0 phil
Phil Ivey: sent 200 have to quit soon
Ziigmund: ok lets flip those
Ziigmund: if u quitting
Phil Ivey: keep the 200. we will play later gotta go
Phil Ivey: be back in a hour