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Showing posts with label Strategy. Show all posts
Showing posts with label Strategy. Show all posts

Aug 4, 2011

Size really matters ... at #Poker

Thursday, August 04, 2011 Posted by Unknown , No comments
Please don’t let the title confuse you, this short article is about poker and will take a closer look at various aspects of the daily grind that involve ”size”. Even though it might look pretty simple on first sight and appears easy to learn, it still takes a lifetime to master this fascinating card game and you will only be able to gain and maintain an edge over your opponents if you consistently work on your game and poker education.

The main goal is getting as much knowledge as possible about all different aspects of the game and short term success might not be able to compensate a long term loss. It is a matter of sample size to determine if you can beat the competition already or if you are currently on an upswing within a few hundred hands. Obviously it is by far easier to track this progress at online poker, since there are several tracking programs to help instead of depending on your own memory at the live poker tables.

But why is sample size that important? It gives you a basic understanding of your performance and the consistency and with the help of tracking programs, you can analyze your game and find leaks that you would have otherwise barely noticed. Because otherwise a different size might take over control and that is the size of the ego. If you don’t analyze your game and try to find leaks, you don’t know for sure how profitable you actually played or if you missed out some equity in different situations.

Don’t get me wrong, ego and personality at the tables are important and it helps a lot when you have confidence in your game. But emotions should never fully take over control because in this case, you will most likely not be able to make the most logical decision. Sometimes you have to listen to your gut feeling, but don’t let trash talk and prejudices have any say when you need to decide whether you want to fold, call or raise. 

Another size is more of a basic when it comes to poker: the size of the pot. Especially at Pot Limit games it indicates how much you can raise if you are still active in the hand. Even though No Limit Texas Hold’Em is the most popular poker type, games such as Pot Limit Omaha are slowly catching up in popularity and it becomes more and more important to master this aspect of the game as well.

The pot size should already be a very common aspect of the game, because it can also determine if you will still get called on a value bet on the river or not. Finding the right betting size is a fundamental criterion and you have to find the right balance, because you don’t want to scare off a potential customer that will pay you off on a premium hand. On the other hand you also don’t want to give away any odds for other players that are still involved in the hand to jump in and see a cheap flop, turn or river.

Bankroll management (BRM) should give you an indication what size of your bankroll you can risk without causing too much damage if you end up losing. It might reduce the potential win as well, but you should not underestimate the important of the safety aspect. Even if you end up losing a portion of your budget, you can still come back in the next session and at tournament poker, a good fold is better than a bad call as well. 

Another important aspect that involves size is the stack size, be it in tournament or cash play. The deeper you sit in a game, the more options you have to make moves and plays that you could normally not afford or push through due to not enough fold equity. You can play big pots in position or just push out short stacks on the bubble, a gamble here and there doesn’t hurt your stack as much and in general you can take more risks and get away with it or paid off big time.

The more we learn about this card game, the more we realize that we might not know as much as we think we already did. But that is just another motivation to consistently work on the game and always approach situations on and off the tables with an open mind. Sometimes we have to trust our gut feeling, or think twice before making a decision.

Poker offers a lot of challenges and lessons in every hand that we play, but if is always up to us if we are willing to learn from it or not. It is a question of dedication and how much time, efforts and money we want to invest to improve and standing still doesn’t increase the odds that we will be more successful. 

One last thing: What came to your mind at first when you saw the title of this entry? Be honest and you will get an idea how open minded you really are, this will also help you at the tables as well.

Jun 13, 2011

The magic d-word at #Poker

Monday, June 13, 2011 Posted by Unknown , No comments

We often let emotions take over control and have a certain influence on our actions, often this results in a disappointment when the own expectations are not met. A typical reaction is a wide range of swear words to blow off some steam and most are blocked within the poker room chat. But the new magic word is the d-word … not the f-word anymore, but the one that is related to a stupid and stubborn animal.

I think almost every poker player used it and it is a typical reaction after a bad beat, yet last time I checked there is no golden rule that the best starting hands will also win when you go into a showdown  after all community cards have been dealt. This is called variance and happens quite often, yet most of the time we always try to blame someone else rather than analyzing what just happened.

Don’t get me wrong, I have also been guilty of that but I try not to use the d-word as often anymore and rather stick to “well played” – might be a bit sarcastic, but there is no need to use swear words. The time wasted with blowing off steam can be used in a by far more constructive way to look through the hand history. In the heat of the moment we don’t always realize that or don’t pay attention to all details to judge it in a reasonable way.

Good beats and bad beats are part of the game and make it more exciting, it can obviously be frustrating at times but the ultimate goal is to always make the most logical decision based on specific aspects. None of them actually contain the d-word though, quite a few actually start with a p … p as in poker.

The game of poker and gaining knowledge about all its various aspects it is a long and difficult progress, you constantly have to work on your game and if you stand still, you already fall behind. The popularity of poker has seen a tremendous growth over the last decades, especially since the man with the perfect name and the perfect story won the Main Event of the World Series of Poker.

Nowadays, you can see poker on TV almost every day and most of the formats there are action filled and you will see a lot of spectacular moves.  Why is that? Because it doesn’t make much sense to show boring folds, they don’t attract potential customers because they always want to see the highlights and also need a certain entertainment to try it out themselves.

What you see is a by far more aggressive younger generation that plays reckless and has no fear to make moves. They use the power of position (an important p word) as well as the power of chips to outplay their opponents and take advantage of more tight players that will often fold when faced by too much aggression. Of course there is no guarantee that an aggressive play will always be profitable, but if you can use a variety of strategies and can adjust to different types of opponents quickly, you have by far more options in various scenarios.

The power of chips, especially in position, is a common tool against tighter opponents that will fold by far more playable hands, because they are afraid to play postflop and even if you get reraised one out of ten times and have to fold, you will win more chips on the other nine successful steals. It is not wrong to play fewer hands, but it is by far more difficult to win chips when you always throw your hole cards in the muck.

If you always wait for premium hands, you limit your own options to win chips because you reduce the possible hand range and give away by far too much credit to your opponents with your passive play. They also just get the same number of hole cards (this might vary depending on the game type) but will make more moves because they know you will most likely fold. The principle of “tight is right” may have applied in the past, but nowadays it more likely can be called “nit is sh1t”.

Another important p word in poker are the so called “pot odds”, you don’t have to be a genius to figure out the ratio and when it is profitable to have the right percentage that will justify decent odds for the correct return for investment. At online poker you see the total pot and how much more you have to call, at live poker you can always ask the dealer for a count. Of course you are aware that you will probably not have the best hand preflop, but there are still community cards to come on later streets.

The key is finding the right balance and making the correct and most logical decision without letting emotions have any influence on it. That may be difficult at times and some are better to master this dilemma, but if you want to improve it is an important step in the right direction. If you limit your own play to specific standard moves, you become predictable and this can be exploited by your opponents.

It will be easier to get a read on you and this is the worst nightmare ever when you sit at a table and you are like an open book and could also play with your hole cards exposed. The final result in that case would be the same if there is still a betting round to come because your cards will get mucked. But if you really want to improve, you will have to invest time, money and efforts into your poker education and this doesn’t include sharpening up your vocabulary of swear words.

If you want to talk about poker, use more p-words and less d-words … . And if you still don’t know which d-word I mean, it will probably look like that:



P.S. Did you actually know how the word "donkey" or "donk" found its way to poker and why it is used? It actually comes from the noise made by poker machines ages ago when people jammed in their coins to start playing. Another reasonable explanation/assumption would be the fact that this type of player is as stubborn and / or stupid as the animal ...

Jun 9, 2011

Tight is right?!

Thursday, June 09, 2011 Posted by Unknown , No comments
It might come to some as a surprise but this indeed gonna be a poker related blog. I barely play poker as of lately and when I finally got some spare time, I stick to my usual HeadsUp SNG and Omaha + Stud Cash whenever I see an active table within my limits. I barely play MTT's anymore and even long handed SNG bore me to death.

I happened to play a private tournament and we were down to 4 players, top 3 get paid and I am sitting in 2nd place, the Big Blind is very short with less than 700 Chips at Blinds 100-200. The Chipleader has slightly more and is the only one that could kick us out of the tourney. Let's take a look at the hand history:

Hand#262094E397000129 - Tournament Table 1 T9757591 -- Table 1 -- $0/$100/$200 NL Hold'em -- 2011/06/09 - 01:29:10
Seat 3: thej***3 ($2,765 in chips)
Seat 4: Pric***4 ($686 in chips)
Seat 5: IcanHazCheez ($4,814 in chips)
Seat 9: slic***9 ($5,235 in chips) DEALER
thej***3: posts small blind 100
Pric***4: posts big blind 200
Dealt to IcanHazCheez [Qd,Kd]
IcanHazCheez: raises to 700
slic***9: is all in 5235.0000
thej***3: folds
Pric***4: is all in 486.0000
IcanHazCheez: is all in 4114.0000
slic***9: returns uncalled bet 421
Pric***4: shows [5h 5s]
IcanHazCheez: shows [Qd Kd]
slic***9: shows [Td Ad]
*** FLOP *** [2c,6h,Js]
*** TURN *** [6c]
*** RIVER *** [Qs]
***SHOW DOWN***
IcanHazCheez: wins 8,256 with Two Pairs, Queens  and Sixes

BuyIn: $3.30
Payout:
1st = $13.50
2nd = $8.10
3rd = $5.40

The Chipleader has done the exact same isolation move a few times, using his chipstack near the bubble to rake in dead money ... and would have done the same without any doubt. Now you might ask why I call in that spot - most would fold there and just hope the Chipleader kicks out the shorty and move on from there. But with what hand range would he make that move and what else does speak for a call almost even stacked as 2nd vs 1st?

- if he really wants to get value out of a big hand, he would not shove all in and rather 3bet preflop
- he has done the move several times before in very similar scenarios
- both Chipleaders are likely to have a hand that beats the shorty in showdown
- tight play on the bubble is -EV, especially in SNG
- payout difference between 2nd / 3rd and bubble 
- do you play to win or to cash?

What speaks against the call in that spot?
- bubble and giving away a decent opportunity to get at least 2nd
- you still have an okay stack if you fold, no matter if the CL wins the hand or not

It is not necessarily scared money in an MTT and you can't compare it, because if you are deep in an MTT and have the same move on the bubble you are more likely to fold because you can reach that situation in an MTT less often than in a SNG. The payout difference in a SNG is not really that big and usually we play for the win here.

Given the previous play, the Chipleader made the same move several times and his hand range is more loose - you don't always give him a monster hand that totally dominates you. So what exactly would that be? Probably middle pocket pairs and AT / AJ ... sometimes AK but that is worst case scenario besides Queens / Kings / Aces. But considering the payout steps on a regular one table SNG, would you rather prefer a chance to win a big pot and dominate the SNG 3 handed or fold and probably see the Shortstack triple up after the isolation?

You obviously pick hand combinations that have equity against the most common hand range of the Chipleader there and no Ace rag that will almost always see you dominated. At the very end it always depends on the own risk management, but in that case I have to say "tight is shyte". Maybe that is just the influence of cashgame or the HeadsUp SNG ... but if I really fold there in a simple SNG, I can also quit playing poker. I heard chess was a really fascinating and highly entertaining game with lots of action ... .

Obviously that is different in an MTT but you always have to adjust your game to the current table and circumstances, otherwise you are stuck with standard moves that every opponent can exploit when he is paying atttention. And especially on the bubble, you will see a lot of isolation moves just to rake in dead chips. It is your call ... or should I say fold?