Posted: Monday, November 30, 2009
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I have a theory. Maybe just a hunch. Call it wishful thinking even. But I believe better people make better poker players. Certainly, a sociopath might have an advantage where aggression is concerned. However, when we think about long-term success across a decades-long career, poker longevity can only truly be achieved by those individuals who have their acts together. Every poker book written by every poker expert will archly discuss the importance of such personal attributes as patience, self-discipline, psychological control. Yet, few, if any, teach you how to acquire those traits. The books listed here will provide an excellent base to improve your life-roll management. 1. Blink - Malcolm Gladwell. Gladwell maintains that we "blink" when we think without thinking. We do that by "thin-slicing," using limited information to come to a conclusion. In what Gladwell contends is an age of information overload, he finds experts often make better decisions with snap judgments than they do with reams of analysis. Sometimes we over-think things. Sometimes you just have to go with your read. 2. A New Earth: Awakening to Your Life's Purpose - Eckhart Tolle. "Be aware that what you think, to a large extent, creates the emotions that you feel. See the link between your thinking and your emotions. Rather than being your thoughts and emotions, be the awareness behind them." 3. Zen In the Art of Archery - Eugen Herrigel. Through years of practice, an activity becomes effortless both mentally and physically. The body becomes capable of executing often complex, often difficult movements without conscious control by the mind. "The archer ceases to be conscious of himself as the one who is engaged in hitting the bull's-eye which confronts him. This state of unconscious is realized only when, completely empty and rid of the self, he becomes one with the perfecting of his technical skill, though there is in it something of a quite different order which cannot be attained by any progressive study of the art..." 4. If - Rudyard Kipling. The first few lines of the title poem say it all. IF you can keep your head when all about you Are losing theirs and blaming it on you, If you can trust yourself when all men doubt you, But make allowance for their doubting too; If you can wait and not be tired by waiting.... 5. The Bible - The Main Event of literature as far as I am concerned. Good for bankroll management. "Covet not thy neighbor's ass." The 23rd Psalm is always excellent to keep in mind when shoving all your chips into the middle of the table. 6. WOODEN: A Lifetime of Observations and Reflections On and Off The Court. - John Wooden. ESPN's show "Who's Number 1?" ranked Mr. Wooden as the greatest coach of all time in any sport. "Intensity makes you stronger. Emotionalism makes you weaker." 7. Personal Best - George Sheehan, M.D. I knew George Sheehan. He was either the most normal great man I have ever encountered or the greatest normal man. I wish I had thought to tell him that. He would have laughed. Modestly, of course.. "The memorable thing is not to excel against others but to excel against yourself...The real trophy is within. The real trophy is the self." 8.The Last Lecture - Randy Pausch. "We cannot change the cards we are dealt, just how we play the hand." Many professors give talks entitled "The Last Lecture." Professors are asked to consider their demise and to reflect on what matters most to them. While they speak, each member of the audience can't help but ponder the same question: What wisdom would I share with the world if I knew it was my last opportunity? If I dropped dead tomorrow, what would I want as my legacy? Randy Pausch, a professor at Carnegie Mellon, was asked to give such a lecture. He didn't have to imagine it as his last, as he had recently been diagnosed with terminal cancer. But the lecture he gave—"Really Achieving Your Childhood Dreams"—wasn't about dying. It was about the importance of overcoming obstacles, of enabling the dreams of others, of seizing every moment ("time is all you have...and you may find one day that you have less than you think"). The Last Lecture is a summation of everything Pausch had come to believe. It is about living. 9.The Secret - Rhonda Byrne. Laugh if you will. Come to think about it, those chortling the loudest probably have the greatest need to study these concepts. According to James Arthur Ray, there is scientific evidence to back up the spiritual practices and laws defined in The Secret. "Science tells us that everything is energy, and so your thoughts are energy. Your body, your cash, your car—everything you think is solid, if you put it under a high-powered microscope, it's just a field of energy and a rate of vibration," he says. "And so are we. So if you think you're this meat suit running around, you have to think again." One way to describe this energy is by comparing it to radio waves, "The frequency you give out through your thoughts and your emotions is what you have a tendency to manifest in your life," Re. Dr. Michael Beckwith adds. "Whether those thoughts and emotions are conscious or unconscious, it doesn't matter." If you are sending out the same negative energy over and over—whether thoughts or feelings—you will attract similar energy back to you. Ray explains, when bad things happen people might ask, "Oh, God, why me?" "Because it is you," he says. 10. Collected Essays - Ralph Waldo Emerson. "What I must do is all that concerns me, not what the people think. This rule, equally arduous in actual and in intellectual life, may serve for the whole distinction between greatness and meanness. It is the harder, because you will always find those who think they know what is your duty better than you know it. It is easy in the world to live after the world's opinion; it is easy in solitude to live after our own; but the great man is he who in the midst of the crowd keeps with perfect sweetness the independence of solitude." BONUS PICK!!!! 11. The Seven Habits of Highly Effective People - Dr. Stephen Covey. Habit 7. Sharpen the Saw. This is the habit of self-renewal, says Covey. Self-renewal necessarily surrounds all the other habits, enabling and encouraging them to happen and grow. Covey interprets the self into four parts: the spiritual, mental, physical and the social/emotional, which all need feeding and developing. These books - any one of them - can provide the breakthrough to move you to the next level. In poker and in life. Sharpen your edge.
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Posted: Tuesday, November 24, 2009
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This cautionary tale is a possibly accurate historical narrative from the archives of the Wild Dog. Barker Ajax drank a great deal of coffee that morning. Ate late a breakfast of granola with banana and yogurt. Cleaned the kitchen, chopped wood, did chores needed doing around the farm, answered mail, worked on the '69 Bronco he's spent six months refurbishing, played with puppy, walked in the woods looking for elk. A typical Tuesday. After six p.m., but before seven, Barker headed out to return rented videos. At the bottom of the hill, his clutch pedal, which he thought he'd repaired, broke yet again. He nursed the truck to town in second gear, to the shop where his girlfriend's campervan awaited a routine tune-up. Switched vehicles. Drove to the next town where he exchanged already-watched videos for a couple yet unseen. Suddenly, Barker was hungry and in no mood to cook. His first mistake. Barker Ajax should've gone home. Instead... There are three places to eat, all bars. One cards you at the door to make sure you're armed and have at least one felony conviction. The second joint charges tourists eleven dollars for greasy burgers the same size as your head. Felt neither dangerous nor wealthy. So Barker went to see what was behind door number three - a working mans' tavern boasting reasonable prices, sensible portions and a big screen television. Shaquille O'Neal, the Big Aristotle, was slamming a basketball. Barker ordered a draft beer and sat down to watch the game. Everything on the menu was deep-fired and batter-coated, so he told the waitress he'd need time to think. He ordered another beer. No problem, Barker's fine so far. These are small glasses. Engrossed in the game, he found himself involved in the carryings-on of three boisterous burly bearded rednecks. Huey, Dewey and Louie Louie. All clad in plaid flannel shirts and denim coveralls, partying since work ended a few hours earlier. Suddenly, Huey buys Barker a drink, same thing they're having, an ouzo boilermaker, a shot of the Greek liquor and a glass of beer as a chaser. Dewey buys the next round. Hadn't even finished the previous round. Barker thought he was pacing himself. He asked the waitress for a glass of ice water. Louie Louie, of course, buys a round. Barker drank that one, too. Judging by the condition of his wallet the next morning, Barker bought a round. That's four shots of ouzo, four smaller beers, two regular drafts. Couldn't swear he didn't drink more. About then, Barker forswore ouzo and had another beer. Which was in his hand when he found himself singing a karaoke blues version of Garth Brooks' "Friends In Low Places," backed up by the vocal harmonizing of The Three Rednecks. About this time, whatever time it was, Barker left the tavern. He recalled walking out the door, and hitting the fresh chill air, face first. The arrest report says the time was 1 a.m. Barker was parked off the road, maybe in somebody's front yard, much too close to a large oak, accompanied by a couple of patrol cars. Two very polite officers asked him to step out of his vehicle. Didn't know how he got there. Couldn't sober up fast enough. Nicely, gently, one officer gave him a field sobriety evaluation. Tests like 'count backwards by three from 117.' He remembered thinking. 'if I was sober, I couldn't do half this stuff.' Well, Barker Ajax wasn't sober. Handcuffs. Becoming more sober. The drive to the jail. More sober still. Jail was in the basement of City Hall. One minute he's at the bar, next minute he's behind them. A cage really. No bars, but wire mesh - three sides and the top, too - painted a bilious yellow, a yellow somehow drained of all its brightness and warmth. Barker blew 0.16 on the blood/alcohol machine, the same reading the coroner found in Steve Prefontaine's body the night Pre died with his little English sports car atop his chest. Barker called a poet to bail him out. He awoke felling like Mickey Mantle's liver. How did that day's activities vary from any other day? They didn't, not until Barker walked into that tavern. He wasn't in the habit of going to bars. Shaquille O'Neal was on TV; he wouldn't have stayed to watch, say, the Knicks. If he'd had his own truck and/or his normally omnipresent canine companion with him, he doubtlessly wouldn't have hung around so long. Too long. His girlfriend was away on vacation. He would've gone home for dinner, if she'd been there to cook it. He blamed her for everything, of course. At the farm, Oregon Coast Range, 1993.
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Posted: Friday, November 20, 2009
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One of the bigger leaks for less sophisticated players is bet sizing. I speak from some experience.Correctly sized bets will maximize your wins and minimize your losses. Additionally, you will put opponents in situations where they are getting the wrong odds to play back at you. Any bet you make should always relate to the current size of the pot. First question then, how much is in the pot? Remember, your bet determines your opponents' pot odds. Every time your opponent calls with incorrect odds, you have an edge. Therefore, make correctly sized bets to ensure your opponents can make these mistakes. If you believe you have a hand superior to your opponent, bet 70% to full pot. This size bet will prevent the opposition from correctly calling, if they are on a draw. They will, however, now have the wrong odds to continue with the hand. A bet that size will winnow weaker hands from the field. As you might well imagine, you will reduce the chances of your hand getting outdrawn when the next card comes. At lower limits, there are few instances where you want to make a bet less than half the size of the pot. Weaker bets will usually cost you value and giving your opponents to correct odds to call and perhaps outdraw you. Often, you will see a player make a smaller bet. Either he is making an error or he is being tricky. The point being, the smaller bet provides information. A standard-sized bet carries little information. A properly-sized bet puts your opponents to a tough decision. Their calls should offer info regarding hand strength. For opponents to call, they must feel they have a decent holding or strong drawing hand. (Of course, they could be idiots or floating you to take the hand on a later street.) Therefore, we can use this information to influence our decision on the next betting round. If we have a decent hand but it is one that is easily beat, we may consider slowing down our betting on future rounds as our opponent may have us beat as they called our strong bet on an earlier round. However, if we feel we still have the best hand then we should continue our strong betting, to try and extract as much money as possible from our opponents by taking advantage of our pot equity. The biggest mistake for beginners is making minimum bets (donkbets) and raises. If make a minimum raise before the flop, a number of players will call you, as they are now getting the proper odds to see the flop with any two cards. As a general rule, beginners should avoid minimum bets and raises. Either make a strong bet or don't bet at all. As we used to say in the playgrounds of my youth, go big or go home. Also, a donkbet elicits little info about your opponent's hand. As a general rule of thumb, if you raise pre-flop, make your bet 3x the size of the big blind. Never vary that amount. (If you are at the lowest stakes, you might have to make this bet 4x or 5x, as the amount must be large enough to dissuade chasers.) If there are limpers before you, bet 3xBB +1BB for each limper. again, you are betting in part to put your opponents to a tough decision with incorrect odds. If you are raising an opponent’s bet, raise them 3 times the size of their original bet; again to offer incorrect odds for a call. When you decide to make a bet or a raise, look at the size of the pot before deciding on the size of your play. Look at the size of the stacks of all players remaining in the hand. Look at the size of your own stack. If any bet is going to be more than 40% of your stack, just shove. The goal of bet sizing is a simple one. Or two. You want to reduce the odds your opponents are getting. You want to maximize your winnings. Bottom line: A shove is often the wrong size bet. Don't ever be afraid to bet correctly.
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Posted: Monday, November 16, 2009
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I have been playing - seriously - Omaha for the last month or so. Oddly enough, ever since I purchased Hold'em Manager. But that's another story. I played mostly PLO cash games and not very successfully. Then I discovered PLO and O/8 MTTs, which seem to play to my strengths. As all you ladies know, my strengths are patience and discipline. I am virtually tiltless - when sober - and I can play position. Lord knows... Anyway, I have probably Final Tabled as many MTTs in the last month as I have FTed in four years of NLH. I just got knocked out by a three-outer, so I don't even think I am running so freakin' red hot. I just think I have found my venue, so to speak. I am old... it's not a moment too soon. Below is a bunch of savvy knowledge I purloined from the Internet, which, as you all know, was invented by Al Gore. But enough about him... Please note, I am talking to beginners playing PLO at a low limit in an MTT. You don't play PLO like this in a cash game. In Hold'em, there are 169 distinct hands. In Omaha, there are 16,432 different possible unique starting hands you can be dealt. When you are dealt four cards, you are really looking at six distinct hands. Ideally, all of your four cards work together. Success in Pot Limit Omaha depends largely on the starting hands you choose to play. If anything, the edge a good player has over a bad player is higher in PLO than in NLH, which is excellent news if you’re the one with the edge. The edge in a PLO MTT is often simply the cards with which you entered the pot. And as long as the structure of the tournament is good enough, you will have plenty of opportunities to exploit your opposition. The top 30 Omaha starting hands are as follows: 1. A-A-K-K 11. K-Q-J-T 21. Q-Q-A-K 2. A-A-J-T 12. K-K-T-T 22. Q-Q-A-J 3. A-A-Q-Q 13. K-K-A-Q 23. Q-Q-A-T 4. A-A-J-J 14. K-K-A-J 24. Q-Q-K-J 5. A-A-T-T 15. K-K-A-T 25. Q-Q-K-T 6. A-A-9-9 16. K-K-Q-J 26. Q-Q-J-T 7. A-A-x-x 17. K-K-Q-T 27. Q-Q-J-9 8. J-T-9-8 18. K-K-J-T 28. Q-Q-9-9 9. K-K-Q-Q 19. Q-Q-J-J 29. J-J-T-T 10. K-K-J-J 20. Q-Q-T-T 30. J-J-T-9 Note: All hands in the top 30 must be double-suited. The best Omaha starting hand is AA-KK double-suited. The odds of actually being dealt that hand are 50,000-1 against. Even such a powerful hand is just a 3-2 favorite to win against 8765 double-suited. In addition to the top 30, you will to play wraps, hands like 8-9-10-J, which can result in nice straights. Ideally, you will have 2 cards of the same suit, as this is the only way you can possibly hit a flush. In Omaha, players rarely having a strong edge over their opponents. Rarely will you find yourself with over 60% equity HU. Each additional player reduces your equity immensely. The lesson here? Play good hands and nothing else until... Well, you'll know when. Omaha is considered to be a "nut game". This means your chances for straights and flushes are more important than high cards. Minimize losses. When you lose, lose the minimum amount, and when you win, win the maximum. In MTTs, especially early, I try to get involved risking the least chips possible before deciding if I plan to move forward post-flop. Check for rocks before you dive in. Let your opponents play trash. Leave weak and marginal hands out of your game. Watch what hands your opponents show down. And there will plenty of showdowns to inspect. Look for the NLH players who don't yet know - or care - about the 6 possible hands. You don't have to be Stephen Hawking to comprehend you have more of a chance to win with six hands than one or two. A-A-rag-rag rainbow is hardly better than fertilizer. A-A-A-rag is also plant food. Lay it down and wait for an actual Omaha hand. If an opponent pushes pre-flop, especially out of position, he will typically have A-A. Especially in a low limit MTT. How does your hand play against top pair?? It is difficult to get your opponents to fold, so bluffing is ill advised, especially for those new to Omaha. And don't get worried about being bluffed. Look for reasons not to complete your small blind. Position is even more important in PLO than NLH, so avoid entering the pot OOP. Even if there are only two players yet to act, that is still a dozen potential hands to defeat. Essentially, PLO is a post-flop game. With four cards, no hand going to be a huge favorite over any other hand pre-flop, but the pot-limit nature of the game usually prevents all of the money going in before the flop. PLO focuses upon making solid post-flop decisions; this is where your edge lies. The ultimate overpair is, of course, A-A. A-A in PLO can be more trouble than they are worth; as a new player, you will undoubtedly go broke with them more times than you care to imagine. Try to get in the mindset of only playing your big pairs in PLO for set value, and learn to ditch them immediately if you face any sort of resistance post-flop. Doing so will immediately improve your game 100%. You’re given four cards, might as well use them all. Sets are so vulnerable you’re not a guaranteed winner, even if you do hit your hand. Boats, flushes, straights...that's where the glory lies. PLO is all about connecting hard with the flop. PLO is a game of the nuts. Straights, flushes, sets, full houses – they’re all commonplace, so don’t be too surprised to see your Queen-high flush or your bottom straight drawing dead when the cards are turned over. With this in mind, only chase draws if you are confident you are drawing to the best hand. You don’t want to pay to hit a card that may lose you a big pot. For the same reason, small pocket pairs should only be played as part of a strong combo hand with both straight and flush potential. These lower pairs are unlikely to make top set when they do connect with the flop. Small sets can be some of the most costly hands in PLO, as the danger of someone having a higher set is far higher than in NLH. If you see the flop with a small pair, proceed with caution. As a general rule, don’t play pairs lower than nines or tens for set value. Position is more important in PLO as bets, calls, checks and raises give away much more reliable information. There are few hands that can afford to give free cards. With four cards in each of your opponents’ hands, the chances of being outdrawn are high, meaning only the strongest hands or the safest of boards are suitable for slow-playing. The information you receive from betting decisions made by the players who act before you is much more reliable than in NLH. Patience is not just about card selection. It's easier to come off a shortstack deep in a tournament in PLO and still win the tournament than in NLH. A disciplined shortstack strategy is important and overlooked by many who become too willing to gamble in bad spots when short. If there are three to a suit on board, you can almost always assume someone has the flush in Omaha, and a paired board yields a very high probability of someone holding a tight (full house), whereas that would only be a minor concern in most Hold'em hands. Tight-passive players are less likely to be steamrolled in Omaha than in Hold'em. Reduced opportunity for bluffing reduces how effectively you can bully a passive player. Respect displays of strength. Players making large bets in Omaha are far less likely to be bluffing than the same caliber of players in NLH. Do not get "married" to an eight-out straight draw: in Omaha, it is possible to flop 13-out, 17-out and 20-out straight draws. It is best to wait until you hold one of these draws before you heavily involve yourself in the pot. Do not overplay unsuited aces: when all you hold are a pair of aces and two unsuited, unconnected rags, there is little you can flop to improve your hand. If you do not flop your set, you're not going to hold up often in a multi-way pot. The potential to have upward of 20 outs in Omaha allows for drawing hands to be statistically ahead of made hands. Common Mistakes in Pot-Limit Omaha - Overplaying "Hold'em strength" hands.
- Calling with weak holdings and low-outs draws when facing a bet.
- Playing too many starting hands.
- Not raising pre-flop with premium hands.
- Giving free cards or under-betting the pot without the nuts.
What hands to play pre-flop? 1. All top 30 hands with at least one suit and most of the time when offsuit. 2. All suited A-K-x-x with at least one x-card, 10 or higher. 3. All double-suited four in a row of hands, five or higher. 4. All double-suited connected hands, five or higher, with a maximum of one gap between the top two and the two low cards or between the low card and the three high cards. An example is K-Q-T-9 double-suited and J-9-8-6 double-suited. 5. All K-K-x-x double-suited. As with any poker advice, these are just guidelines to give you a place to start from. The hands you raise and limp with will change depending on your table, your image, your skill and the skill of your opponents.A hand should not be considered made until the river. The nuts on the flop means very little after the final two streets fall. It is seldom wrong to bet out with top set in a short-handed pot, even though the board looks scary. Remember, anytime you flop a set, you have about a 34% chance of improving to a full house on the turn and river combined. Cliff Notes. If you start playing PLO now, you will be ahead of the game. And the crowd. It's that simple.
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Posted: Sunday, November 8, 2009
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Bet sizing is understood to be perhaps the most informative tell online. Of course, the value of that information varies from stake to stake or cash vs. tournament. In a donkament, if an opponent doesn't know what he is doing, it is difficult to glean actionable intelligence from his performance. Other than he doesn't know what he is doing. If you have been watching the WSOP on ESPN, you can watch the Main Event leader Darvin Moon continually switch his bet sizes. He claims this is because he doesn't know what he is doing. So, where's the tell? And what is it telling you?
Betting speed, i.e., how fast or slow a player makes his bets, is also thought to be indicative of the strength of an opponent's hand. Of course, everybody knows this. Supposedly. An instant automatic check might be a weak hand, one likely to fold against any resistance.
A long pause, followed by a raise typically suggests a very strong hand. The original thinking was the opponent had to take time to strategize how to extract the most chips from you. On the other hand, many knowledgeable players often do this timing tell when they are weak. An instantaneous automatic raise usually suggests a very strong hand. An opponent who quickly calls your bet is often holding a reasonably weak hand. An odd number bet, such as 99 cents when a normal bet might be one dollar, typically means your opponent read an article which suggested such a bet is confusing. Either he's an idiot or he thinks you are an idiot. This is a meaningless tell, although I am thinking he thinks he's tricky and knowledgeable. And thus I think he's exploitable.
Auto-checking, i.e., using the check/call boxes, typically suggests a weakish hand and/or a player who is impatient or not paying attention to the play of the hand. This behavior can also be exploited. And should suggest to you not to use these boxes yourself. I find CHAT is often a reliable tell. If you see an opponent who likes to criticize another's play, you know he thinks he's good. A actually good player, on the other hand, will not criticize a weaker opponent. A smart good player will not educate an opponent or chase away a fish. This professor-type is often easy to tilt with your own chat. Simply compliment the fish-who-sucks-out on his good play. This will have the effect of bolstering bad play by the fish while tilting the professor. Win-win for you. Beware the villain who announces "I have to go" and then shoves. He will invariably have AA and will only leave if you call and he gets all your money. Any player who complains about a "set-up" or a site being "rigged" is typically a long-term loser. A gloater, i.e., somebody who insults a losing opponent, is also likely to be a losing player. A winning player is used to winning and acts like he's been there before. A good player knows better than to insult his victims, whom he intends to victimize again. Never forget you have a mute button to block an opponent's chat.
When a new player joins the table and immediately - out of turn - postsa blind, you can usually assign that player a weak tag. He's immediately forsaking position. All good for you. Either he is an action junkie, impatient or clueless about proper play.
As far as I'm concerned, avatars and screen names (often) constitute tells. And reverse tells. Obviously. Especially at the lowest stakes. Durr & OMGClayAiken both chose their names to appear "stupid." Or annoying. Or both. Two smarter players it'd be hard to find. I forget durrr's avatar on FTP, but Galfond's is an old fat lady. Whitelime has been using a crazy plant his entire, hugely profitable career. While krantz has a clown. In all cases, they are trying to appear weaker than they really are. Watch your opponents' play vis a vis the avatar and screen name. Invaribly, the "cooler" the name and/or avatar, the weaker the player. On FTP, you have little to fear from the Doberman or Mike Tyson. The ninja is probably nobody to worry about, but keep your eye on the little green gecko. Beware the little white poodle. In live play, when they appear strong, they are typically weak. Online, when they have a screen name like takeallurmoney or makinucry, they are likely to do neither. AllinAlien may or not be a shove monster; Bluffin'Bob may or may not bet with weak cards. But there are clues there which should make themselves obvious after some minutes of observation. On Stars, I have a photo of myself in cowboy hat and sun glasses. I am often insulted as a fat hick. I am neither. Obviously, my opponents read on me is inaccurate. And I am guessing by these insults that I can shove those ignorant dirtbags closer to tilt. Doyle would also be a fat hick, I guess. The idea is not to ignore the info you are giving off with your screen names and your avatars. And always note the info being given to you by the opponents' screen names & avatars.
Apply a healthy dose of skepticism to any perceived tells. Which may - or may not - mean what you think they mean.
Bottom line? You can learn much by trying to learn much. - JDW
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Posted: Thursday, November 5, 2009
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First of all, free multi-table tournaments (aka freerolls) are where you need to start. No news there. Every poker site offers freerolls, which will allow you to get actual cash into your account. Annette "Annette_15" Obrestad is the best example of this method of bankrolling. Without investing a single penny, she amassed an online fortune of $1,000,000, probably more. Meanwhile, gaining the skill which led to a WSOPE championship and a purse of $2+ million. A day before she turned 19 years of age. Pro Chris "Jesus" Ferguson challenged himself to go from zero to $10,000 on Full Tilt Poker. Took more than a year, but he got it done. Don't sneer at the opportunity presented by freerolls. Many of today's more successful players got their start playing single table tournaments, aka sit-and-go's or SNGs. Bodog offers single-table SNGs for beginners - as low as $2.20 - which pay half of the field. Sometimes you can make the money without playing more than few checked-around big blinds. Perhaps you have heard of Chris "Money800" Moneymaker. The 2003 WSOP ME champion kick-started the poker boom by parlaying a $40satellite into a $2.5 million cash. Satellites are designed for those players who lack the necessary funds to pay the full price of entry. First of all, learn where you have to finish to get the prize. Not playing is probably the key to success in satellites. When you do enter a hand, raise, don't call. Never risk your entire stack. Play small ball if you are in a pot until you get the nuts on the river, then bet for value. You want to grow your chip stack in concert with the blind increases. Do NOT - I repeat, DO NOT - try to win. You do not try to win because you do not have to win to win. You simply have to finish in front of the last player to lose. Don't try to get fancy. Finally, Frequent Player Points offer the opportunity to qualify for tournaments which pay actual cash. An FPP on FTP is worth $0.06. And you really don't need another ball cap with somebody's logo on it. My favorite satellite for micro-grinders is the $2.20 into the Sunday Quarter-Million Dollar on PokerStars. An entry is awarded for every $11 in the prize pool. So, the payout is close to 20%. These MTTs run approximately three times an hour, most of the day, most of the week. Heck, you can multi-table them I am not the strongest player, but I manage to "win" 40% of these particular satellites. This from PokerStars: "You finished the tournament in 1st place. .... If you choose to unregister from this tournament your account will be credited with T$11.00. Tournament Dollars can be used to buy into any tournament." So, win one and you can afford to play 5 more. Win four out of ten, as I tend to do, you have doubled your money. I think that's right - I am truly a math dyslexic. NOTE: I have never played the Sunday Quarter-Million. I heart my weekends. What I do is sell my T$ for cash. While there are doubtlessly a number of sites which buy tournament dollars, I have used - more than a few times - Liquid Poker. "You can sell your pokerstars T$ tournament dollars for 97% and your W$ for 91%(WPT, WCOOP, WSOP dollars). These are the best rates publicly available anywhere." Bottom line is this: for every $22.00 invested in satellite entries, a 40% win rate equals $42.68 in cash. I know, I know. That's no recipe for riches. But my goal, like Annette_15's, is not to deposit ever. Well, never again.
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