Wednesday, May 20, 2009

Why play poker?

At one point, my daughter had wanted to do Family Law as a career. "Why would you want to surround yourself with that much heartache?" was the obvious parental response. Thankfully, she is now planning a different career path.

And so it is with poker variance. Why do we choose a pastime that in the short term is inherently stressful and highly likely in the bad times to affect our general persona? It is time consuming and as I am in a full-time job, that encroaches on family and exercise time. Presumably then, it must provide us with benefits too (or as rational creatures we wouldn’t do it).

Personally, I benefit from a heightened ability to make risk-based decisions at work; I feel more confident making significant decisions in a timely manner with incomplete information. It is also a healthy outlet for exercising what modicum of intellect I have in a competitive arena.

What value do you derive from your poker journey?

Tuesday, May 19, 2009

World Press Photo 09


It's easy to forget that there is a big world out there.

World Press Photo '09 is currently exhibiting at the NSW State Library and is well worth a visit. I've checked out the online equivalents and they don't translate, for example, this shot was simply amazing in person.

Monday, May 18, 2009

Poker Cruise 2

I had a very enjoyable poker cruise on Friday but the result feels like a bit of a non-event; reinforcing the concept of the utility of money and the fact that wins don't bring nearly as much joy as losses bring lows.

Surprisingly on this trip, most people ended up winning, probably 6 winners and 4 losers. Usually, we have a couple of people gather most of the chips by the end of the night (symptom of alcohol, triple-barrelling and a propensity to call massive overbets). For some reason though, the money seemed to circulate more on Friday.

Our land-based host has been having a bad run and on Friday he just seemed to be playing in the moment and played extremely well all night to be a $400 winner. He picked his spots and seemed to be right every time he had to make a marginal decision.

One notable loser on the night was our only "internet kid" who had been looking forward to his first poker cruise and a crack at the rich oldies. No-one was happy at the fact that he was the one that could least afford to lose the money. In reality though, he didn't adjust well to the crazy and often unpredictable nature of our home game. A valuable investment as a lesson learned early in his career. No doubt, he’ll be back.

As for me, things started well on the very first hand with quad Kings almost tripling up. The games are wild and I was relatively card dead for the next couple of hours. I can recall a number of good lay-downs on the flop with 2nd pair, and TPGK etc. With an average of 5 to the flop, it plays like a Limit game with your stack always at risk, where you really do need the best hand at showdown. Massive over-bets get called, so its very difficult to knock people out. Somehow, I managed to play sufficiently tight/weak to slowly leak away my stack over a barren period lasting several hours.

My second buy-in fared better and grew steadily until a critical hand when I managed to limp in with 99 in early position. Flop of Q74r was checked around and then the 9 came on the turn, I led out with a modest $5 bet into $7 or so in the middle, MP raiser made it $50 (which is just the kind of game that it is). I was genuinely afraid of the QQ because the raiser knows that I play fairly tight into multi-way pots, although he did seem tilty on the night. Being a cash game, the AI shove for another $70 was relatively straightforward and if I'm behind, I'm behind. He had Q7 and had let me get there on the Turn which was a costly mistake. My trips held up and I was in a very healthy position to safely pick my spots again. When we docked at 2am, I had booked an uneventful $150 win, enjoyed gourmet sandwiches courtesy of one of the players and laughed all night.

The banter was great as usual, which is what real poker is all about. Roll on the next home game which looks like 3 weeks away.

Tuesday, May 12, 2009

First ever PLO8 Final Table

I can't recall cashing in PLO8 before, but I seem to be getting the hang of the game a little more. Tonight I was wary of bubbling and when I got in the money I realised that I was still losing - $4.40 to enter, 99 runners and 27th paid $3.96. At the second break I was 8/23, needing a top 18 to turn a pofit of 55c.

Soon after break flop FH to put me in 4th of 23. Limits going up 600/1200 and I'm 6/20 with only 8000 in chips, card dead. Couple of good hands picked up the blinds and I find myself the shortest stack at the final table. 30mins later, bugga, another break and still hanging about with only 2.5BB left. Shoulda gone AI and got to sleep - chip and a chair tho'. Still 9 of us at Final Table. Not any more ... profit $3.52 and a lot of fun.

Monday, May 11, 2009

Pub Poker - Strategy Question

$15 + $10 rebuy - 32 Starters, paying 3 spots.
Payout structure is $75, $150 and $250.

Blinds are 5K/10K and we're down to the last 4:
- UTG 8K
short-stack for some time, doubled thru blinds twice
- Button 41K
was short stack but just tripled up
- SB $80K
has only been playing a few weeks and playing a wide range preflop
- BB (Hero) 41K
has tightened up a little on the bubble with high blind structure

UTG folds, Button min-raises to 20K, SB folds. I look down and find AQo in the BB. What should I do, and why?

Saturday, May 9, 2009

Jesse Takes a Shot

Rangers 1 - Celtic 0 - Now that's a bad beat!

Just wanted to point you toward a blog that I follow Jesse Taking a Shot. Jesse had a career at Oracle that he has swapped for a crack at professional poker. Not the glamorous TV Tourney stuff, but the more traditional live Californian Card Room limit games. It's a series of very interesting stories and thoughtful perspectives like Jesse's most recent post on 'Poker is like Golf'.

I've also taking the liberty of transcribing one of his Bay 101 conversations into a movie by XtraNormal.

Thursday, May 7, 2009

Importance of Poker Buddies.

... or Sky City gets the better of me once again, this time with superior poker skills.

It's amazing when you hear stories from the professionals, how the met playing backgammon in New York or even Tennis in Scandanavia. Either, they're all leveraging the same connections to become famous or, as the results would indicate, their results are for the most part superior to the rest of us and they've learned quicker as a group. My recent experiences at the ANZPT and Sky City Auckland have reinforced this concept in my mind.

Recapping the ANZPT, I felt a sense of anticipation in the lead up and I wanted to do well, as reflected a few posts ago. I met or exceeded my expectations in terms of results and was suitably chuffed (you'll be pleased to know that my cockiness has been well and truly been knocked out of me coming back to earth at the felt which is a great leveller). Anyway, at the Sunday Deep Stack Event, it struck me that my anticipation was nothing to the excitement that a quarter of the field were enjoying having brought their partners along to share the experience. There was another quarter that it was just another day at the office. For me, I was in the middle which isn't a bad place to be because it means that you're still appreciating it. From a results and expectation perspective though, I have a long way to go yet and it's unlikely that I'd get there on my own.

Now what really struck me was that over the week where I played only 2 days, albeit 12 hours plus both times, you do get talking to a lot of other players. And by the Main Event where I turned up briefly to spectate, I was involved in conversations with a lot of the top Aussie Pros. People know people and just by being there, you get right in the middle of all sorts of hand analysis, comments on tells that were spotted, partnerships being formed for the upcoming teams event, media reporting, playing styles of specific individuals, who to watch out for and who to take advantage of, various home games that go on, etc. etc. It was really harder to avoid being in the middle of it all. How then can you not succeed?

And so to Sky City Auckland where I played all night. With the time difference, I can either leave in the afternoon to get a flight, or first thing the next morning. My preference is to do the latter, which means setting the alarm very early. If you stay out to midnight, it's hardly worth going to bed. And as someone who has been known to sleep under telephone booths in Euston Station, beaches in Greece etc, the thought of a hotel room lying essentially unoccupied seems like a waste. Extrapolating this line of thinking, I play to the poker room closes, get a cab to the airport in time for the opening of the Qantas Club at 5am. A couple of hours snooze there and then a 3 hour flight to Sydney where I manage to sleep the whole way - sweet.

Anyway, last night when I sat down, there were no recreational players, NONE! Hardly a +EV spot with a load of grinders. But you know what, the best players aren't grinders either, their gamblers at heart and that's who turned up for the most part. There were the long faces grinding out their $200 / night on the $60-$100 BI NLHE tables, where I started. But then a tournament started with $100 entry, 3000 starting stack and 20 minute blinds. Almost every one of the 50 competitors had been to Sydney and the ANZPT. I now understood all of their stories and could join in. I got respect at the table and actually started well, thanks to good cards. I didn't cash though and that wasn't the point of the story anyway. The point was, I was being accepted into this group and hearing stuff that I only get access to on PokerCasts. But this time it was current. The hand analysis was refining thinking that I'd only just experienced and drawn my own conclusions too. But these guys were noticing things that I hadn't really thought about.

For example, I had AA one time, with about 6000 in chips, blinds were 100/200. EP raiser made it 600 and MP limped. I was on the button, happy days. I thought about my betsize, and I was sure that 1500 would have got two aggressive callers. I made it 1850 to draw some attention to the bet. I nearly got the desired single caller but both folded which I wasn't too unhappy with as my stack was growing just nicely. But then a player not involved in the hand said "Nice squeeze play". I know that he was probably just fishing for confirmation, but it struck me that this was a squeeze play. I'd never really thought of it like that before the bet, but subconsciously that is what I was doing. And I hadn't even formalised it in my head after the action, but it was a genuine squeeze play. Just by drawing it to my attention, I thought about it more and it did crystalise my thinking on the move for similar situations in the future. A small example of how being in the community helps you improve.

I'm just not getting that to nearly the same extent online, on 2+2 or even to be truthful this blog. If this was a business, I'd have to say that the ROI just isn't there. That said, it isn't a business today, its a (sometimes very) challenging hobby that I really enjoy. In that regard, following the half dozen or so blogs that I do really does cheer me up, so it has got to be +EV. I just wish the LSG was back blogging again though. Those were the days.

So I was $100 after busting out and still a few hours to go before my flight (I didn't want to go busto on my kiwi dollars). I went to look at sitting at a table and there was a $1/$2 PLO game going. These were the very experienced online and live PLO specialists. Their home games also include Omaha/8. I was way out of my depth but if I bought in short stacked and played really tight preflop and picked my spots post flop, I should be able to do OK with not too much risk. Nice theory until I got it all in with a Turned A high Flush only to get sucked out on with a straight flush on the river. Ah well, there goes the first $100 chip. I took another out of my pocket and am pleased to report that this lasted me until the poker room closed. The education that I received though was second to none.

At the table was a German guy (I think) called Andy who could have come across as arrrogant to plenty and was commentating incessantly. He was by far the best LAG there. But he also analysed every hand after the pot. He'd also call (pretty accurately) the hands that people had, which I actualy think is easier in PLO as there is less bluffing and the range is narrowed by the flop betting a lot. He clashed with another guy who was a gambling NLHE LAG but very little clue about PLO. In the pursuit of all of his chips, he lost several BIs, but by cash out time, he'd way more than recovered them; nice work.

In the early hours, we got shorthanded, down to 6 but the banter continued and I got a whole new persective on how to play PLO. Spots where Andy would explain to the table that if you fire there he just can't call. I think that with a few more sessions like this, my game would come on in leaps and bounds, but I write this post back home and all alone in the absence of live poker buddies to discuss strategy with. I always have you guys though.

I'll leave it there, but without the opportunity to live amongst living, breathing poker players on a regular basis, I'm convinced that I'll never win a bracelet. Truth is that even if I did do it all day every day, it just isn't in me to be that bracelet winner anyway probably. Highest percentage of Cashing will do me just fine. If I could acquire a modicom of the BCG's discipline, I reckon that I can get that to 50%.

Well that is today's rant, but I'd certainly be interested to hear of anyone that has similar or contrary, thoughts and experiences.

PS The next Poker Cruise will be on Pittwater on May 15th if anyone can make it to Sydney for then, there are still 2 spots available.