The Cost of Doing Business

The cost of sitting at a $1-$2 NL table in a Strip casino is about $10 per hour. This includes the rake, tips to dealers and cocktail waitresses and assumes that I am being dealt average cards and am playing against average players. The figure stays about the same for $2-$5 NL, so it is more cost efficient to play at that level (bankroll permitting) if one measures success in terms of big blinds per hour.

Should I wish to, I could lower my hourly nut by playing tournaments or by playing online.

Classic misplay?

The Station casinos are rewarding 50 hours of play in April and May with a $200,000 freeroll tournament. In a bid to chalk up a few hours, I found myself sitting at a $1-$2 NL table at the Green Valley Ranch. Most of the players were locals with an even balance between loose aggressives and tight passives.

With about $130 in front of me, I open limp from early position with 99. There are 5 callers including the button and the blinds. The flop comes

Q T 9 with 2 hearts

I check, player to my left bets $10, next player folds, button raises to $25 and the blinds fold. I think there's at least a 50% chance the button has me beat and I put the initial bettor on a flush draw.

I push (both my opponents have me covered), the initial bettor folds and the button calls after about 10 seconds of deliberation. He shows the nuts (KJo) and takes down the pot when I fail to improve.

Should I just have called the button's raise instead of pushing? An examination of my pot equity reveals an interesting phenomenom. If it is 2-handed between the button and myself and we assume he has the straight, my pot equity is 35%. If it is 3-handed and we assume the initial bettor is on a flush draw, my pot equity not only doesn't decrease, it actually increases to 35.5%, with the button giving up 26% equity to the flush draw. This apparent paradox is explained by Morton's Theorem. I have yet to factor in other variables such as fold equity and the probability that the button actually does have the straight.

The aim here is to maximize my winnings and I'm not so sure I did.

Another try at MTT's?

I have concentrated on live no limit cash games to date. After an interesting conversation with CJ while he was in Vegas, I have decided to look into re-entering the tournament scene. Initially it will be low buy-in stuff and will be in addition to the NL cash games.

As usual, I am enjoying great success when pitted against other opponents. However, this is all pretty much negated by my inability to conquer myself.

8 minus 4

I was busy folding at a $1-$2 NL table at the Aladdin yesterday afternoon when from the corner of my eye I spotted none other than CJ signing up for a tournament. Sure enough he was in town en route to the charity gala at the Playboy Mansion. I had the pleasure of playing with him for a short while before we met up with Joe Speaker, Change100, Pauly, his friend Senor, and Jason Spaceman, all of whom had come to play in the 1:00pm tournament. Although he didn't place, Senor lasted the longest and then they were off to the Excalibur for some sports betting.

Surprise meetings are the best.

Zen and Retribution

I am currently reading Larry W. Phillips' Zen and the Art of Poker. On page 48 he states :

POKER RULE #34: Detach yourself emotionally from the game.

Does this mean I can't get even with that dipshit who slowrolled me? Every rule has its exception.

Local garbage at Caesar's

You would think I would have learned by now. Every once in awhile I commit the offense of making a large reraise with the second nuts.

I have As5c which makes me the nut flush on the turn. Like a lemur, I check. The river is a ten of spades making a straight flush possible with Qs. I bet $50, fucktard makes it $100, and I go all-in with my remaining $200. I call him fucktard only because he took a full five seconds to call, five seconds which made me think I had won the pot. He then sheepishly turns over the Qs to which I say "Nice hand, next time don't slowroll, pig!" The local Las Vegas poker world is small and you can be sure I will get the opportunity to slowroll him back, not to mention the constant barrage of below the radar insults I will hurl his way.

But back to the gist. What's the point of reraising in this situation if I'll only get called by a better hand? I lost my stack, got slowrolled to boot, and have thus gained the painful learning reinforcement which will keep me out of trouble till who knows when.

They can't leave me alone

 
There's nothing like a $35 "welcome back" bonus to get one's feet wet again in donkeyland.

Limit hold'em against idiots

The Aladdin is having a $50,000 NLHE freeroll tournament on March 5 for those that have clocked 60 hours of play during the months of January and February. At this stage, it looks like about 120 people will qualify.

I've put in my 60 hours, most of it at the 3-6 limit hold'em tables. In retrospect, I should've stuck to 1-2 NL as generally it is less lemurish. A typical 3-6 hand :

I raise on the button with 88 and get two callers.

Flop : K 7 3       Check, check, I bet, call, call.

Turn : J            Check, check, I bet, call, call.

River : A           Bet, call, I fold.

Lemur takes down the pot with Q7o. Jackass doesn't show.

A variation of the KK quandary

I am UTG (under the gun) in a $1-$2 NL cash game with about $175 in front of me. I look down to see KK and decide to limp in. Two more limp in behind me and the button raises to $10. Small blind folds, big blind raises it to $35. The big blind is a playah who is aggressive and mixes it up. I push all-in.

All fold to the button who goes into the tank and then folds. Big blind, who has me covered, instacalls and turns over AA. I lose my stack.

Could I have played this any better?

Finally a show worth watching

I highly recommend GSN's High Stakes Poker on Monday nights, which is proving to be the best TV poker show by far. Sammy Farha, Doyle and Todd Brunson, Jennifer Harman, Barry Greenstein, Daniel Negreanu, Ted Forrest and many others are featured playing in a NLHE cash game. Last night's episode will be repeated a few times during the week and is well worth seeing, if only for the final hand.

Hi ho, hi ho...

 
Nothing much new to report. I've been selected for "house duty" for February so my playing time is limited. Once a year, every guy living at the shelter is expected to spend a month cleaning, cooking, gardening and anything else required for the common good of all the residents. Sleeping outside is dangerous and no longer an option, so it's a small price to pay for the luxury of a roof over my head.

Welcome!

 
My fellow Irish homeless ...

Wages of Sin

 
I have the moral fiber of a used car salesman. No sooner had I outlined my SnG goals than I decided to try the $10 SnG's with only 15 buy-ins. I lost four in succession and plonked myself down in a $1-$2 NL cash game with $100 and change. After a few hands, I was crippled when my KK ran into AA leaving me with $30. I eventually got down to $14, when I tripled up with AA and continued playing till I hit $200.

Now the logical thing to do would be to go back and give the $10 SnG's another shot. But after winning $186 in a couple of hours, I find the prospect of returning to a $2 per hour grind rather unattractive and prefer the $1-$2 NL. Needless to say, this line of approach will decimate any bankroll, be it six digits or three.

Progress

I am enjoying continued success in the $5 SnG's at Full Tilt, having built my bankroll from $50 to $150 in 8 days. Surprisingly, I am still not tempted to start playing $10 SnG's, preferring to wait until I have at least 25 buy-ins. I may compromise on 20. Had I been this disciplined in the past with money management, I wouldn't be playing $5 SnG's today.

American Woman

Years of selfless voluntary work, together with a charming and flawless personality, have finally paid dividends. I've been asked to be an official chaperone for one of the contestants in the Miss America Pageant to be held later today at the Aladdin Resort and Casino. This entails accompanying the candidate to all the pre- and post-event functions, not to mention a change in socks and underwear. So far we have hit it off pretty well despite the age and height difference. I have been giving her pointers on how best to respond to the judges' questions, and later this afternoon will critique a private rehearsal of her swimsuit presentation. Her deportment should be fine; it's mine that I'm concerned about.

Ryan's Express

From the moment Ryan eliminated me in the 2005 WPBT Winter Classic, no mean feat against a player of my caliber, I knew he was destined for greatness. I had not, however, anticipated the speed in which this greatness would materialize. Yesterday, Ryan took down first place in the opening event of the LA Poker Classic, the $300+$30 No Limit Hold'em tourney, for a $113,583 payday.

Congratulations, Ryan. You have set the bar.

Sit N Go Sunday

 
It's no secret that I have long since abandoned Sit N Go's and MTT's in favor of cash games. Nevertheless, my good, close, personal friend Bobby has been urging me to look into the former with particular emphasis on the strategies espoused in Kill Phil. Now I am a stubborn bastard at the best of times and rarely listen to the advice of others. But somehow his repeated exhortations breached my thick skin and today I decided to play some exploratory $5 SnG's on Full Tilt, leaving the appropriation of the aforementioned book to a date in the near future.

I played 8 SnG's with the following results :

1st place - 1 time
2nd place - 1 time
3rd place - 4 times
4th place - 2 times

for a 64% ROI. Clearly this is a very small sample space, so there is plenty of room for reversion to the mean. Also this is a very low limit, so the competition is below average. The point, however, is that at all times I felt in full control of both myself and the game, and was rarely surprised by anything thrown at me. And even more interestingly, it was obvious that there were a couple of players who were playing what I can only guess to be something akin to a Kill Phil strategy - naturally they were my toughest competition and they always made the money.

I have played $100 and $200 SnG's in the past. It's a pity Kill Phil wasn't available back then. But even if it had been, the question remains whether I would have had the discipline to implement it religiously.

Have you seen this cart?

 
We are barely two weeks into the New Year, and already someone has stolen my shopping cart. The bastard cut through a cable lock securing the cart to the street light under which I read. More on this when I return from filing a police report.

Shuffle up and deal

I've spent about 40 hours in dealer's school, learning to shuffle and pitch cards together with the mechanics of dealing hold'em, seven card stud and omaha. The manager of a strip casino poker room has been gracious enough to let me come in and practice dealing tournaments. I've had two practice sessions to date. On my first, I was so nervous I could barely hold the deck of cards without shaking. One player sensing my discomfort said, "It's only a $40 buy-in tournament - don't be so nervous." My pitching left a lot to be desired with cards flying everywhere. I even managed to deal the cocktail waitress a hand as she was passing by.

The second session went a little better, but I was still jittery. It's amazing how difficult it is actually sitting in the box after having played so many hours on the other side. There is plenty of room for improvement, but with each practice hopefully my confidence will grow and the anxiety will subside.

2006 - off to a great start!

 
Yes, yes, yes! I will be sailing on a luxury poker cruise in March. I cannot divulge full details at this stage, but it will involve an online poker site, 6 WSOP bracelet holders and some of the best tournament pros all vying for a $5 million prize pool. Naturally I'm excited as hell, as this will be my first cruise as a galley hand.