Saturday, March 31, 2007

Expensive lessons in Omaha

I've had a decent week so far from a Texas Hold'em standpoint. Unfortunately, it's been more than just Texas Hold'em this week:

Tuesday - The Liz and Brandon $20 Freezeout was moved to Tuesday this week due to some of the players' scheduling conflicts. I busted out in 6th place, but I left the house with a picture of Liz's terrific (albeit unexposed) chest on my cell phone, so it was a winning session as far as I was concerned.

Wednesday - Some of the players I know from various games around the area happened to get the poker itch all on the same day, so I hosted an impromptu $.25/$.50 game to tide everyone over. At the suggestion of some of the more veteran poker players, we added Pot Limit Omaha Hi to the mix, alternating rounds with No Limit Hold'em. All I really knew about Omaha was that it was essentially a "game of the nuts", but the cards were extremely cooperative, so I managed to do well in both formats. I finished with a $17.64 hourly rate over the 5.5 hour session for a net profit of $97.

Thursday - In the Krumbine $100 game, I continued to minimize my mistakes and the deck continued to run me over, so the combination made for a very nice session. We played a couple of rounds of PL Omaha Hi, but it was NL Hold'em for the majority of the night. I finished the 10.5 hour session with a $40.29 hourly rate (net profit of $423).

After finally cashing out at 6 in the morning, the 5 remaining players (all of whom clearly need to get lives) decided to play a $40 freezeout to round out the 'evening'. Though I finished 2nd for a net profit of $10, I didn't do myself any favors by trying to make it through the rest of the day on absolutely zero sleep, and I'm not just talking about work...

Friday - This is where things took a real turn for the worse. After work, one of the Thursday regulars called to invite me to a game that was hosted by a player who had made the final table of a $1500 NLHE event in last year's WSOP. The format was $1/$2 with NL Hold'em and PL Omaha Hi rotating every other round. I played well during the NLHE rounds, but I seemed to have some real trouble taking my foot off the accelerator during the PL Omaha rounds. There was one key hand early on where I basically gave away my whole stack with trips versus a boat. I lost another half a buy-in against a baby flush when I overplayed top set on a suited flop. I finished the 5.5 hour session with a -$74.55 hourly rate, dropping a total of $410.

I probably would've exercised better judgement had I not been playing on zero sleep, but there's no denying that I am at a distinct disadvantage when playing anything other than Hold'em. I've always wanted to learn as many games as possible, but now that it appears I'll be playing Omaha for real money on a regular basis, it's really lit a fire under my ass. I'm absolutely determined to become one of the best players in that $1/$2 game, regardless of the format, so I'll be using this weekend to read as much material as I can possibly find about Omaha. Though I'll likely continue to lose money the next few sessions, I don't ever want to just give it away like I did last night.

Sunday, March 25, 2007

Minimizing losses from the blinds

I'll let you in on a little secret: I don't like it when people attack my blind.

I know this is the case for a lot of players, but I probably lose way more money from the blinds than I should due to the fact that I never give a player any credit once I've made up my mind that I'm up against a steal attempt.

I had such a blow-up earlier today when I dropped a whole buy-in at a $.25/$.50 NL cash game on UltimateBet. The player to my right had only been at the table for about a dozen hands, but I had already tabbed him for an aggressive player who liked to make moves after the flop:

Hand #40568179-5554 at Zwiggelte (No Limit Hold'em)
Started at 25/Mar/07 10:03:03


alange is at seat 0 with $14.45.

Abdul_Akhmed is at seat 1 with $64.30.
RandomFlask is at seat 2 with $30.70.
summit555 is at seat 3 with $45.65.
Silver Book is at seat 4 with $56.60.
4TO1DOG is at seat 5 with $117.
Abellino is at seat 6 with $26.25.
martin048200 is at seat 7 with $47.25.
McSquiggs is at seat 8 with $24.10.
Big_Greg27 is at seat 9 with $49.70.
The button is at seat 0.

Pre-flop: RandomFlask is BB with 5s, 8c.
summit555 folds.

Silver Book folds.
4TO1DOG folds.
Abellino folds.
martin048200 folds.
McSquiggsfolds.
Big_Greg27 folds.
alange folds.
Abdul_Akhmed calls.
RandomFlask checks.

Flop (board: 2h Th 9d):
Abdul_Akhmed bets $1.
RandomFlask raises to $2.
Abdul_Akhmed re-raises to $7.
RandomFlask calls.

Turn (board: 2h Th 9d 8s):
Abdul_Akhmed bets $15.
RandomFlask goes all-in for$23.20.
Abdul_Akhmed calls.

River (board: 2h Th 9d 8s Ts):
(no action in this round)

Showdown:
RandomFlask shows 5s 8c.

RandomFlask has 8c Th 9d 8s Ts: two pair, tens and eights.
Abdul_Akhmed shows Kc Kh.
Abdul_Akhmed has Kc Kh Th 9d Ts: two pair, kings and tens.

Hand #40568179-5554 Summary:
$3 is raked from a pot of $61.40.

Abdul_Akhmed wins $58.40 with two pair, kings and tens.

I decided that he was trying to buy the pot after he insta-bet the flop, but I really should've slowed down once he reraised me, especially since I didn't have a large enough stack to push back with on later streets.

The worst part is that he probably decided to slow-play his KK specifically since he had seen me aggressively attacking weakness in the few hands prior. He set the trap and I fell right in.

I know that it's important to trust your instincts, but I didn't take any time to re-evaluate my initial read as the hand progressed because I was too preoccupied with defending my blind. I don't have these blow-ups too often, but I'm sure the losses will add up if I don't learn to let go from time to time.

Saturday, March 24, 2007

Results Update - March 24, 2007

On Wednesday, I finished 5th in the Liz and Brandon $20 Freezeout. In a game where aces with a jack kicker is normally good, my AJ ran into AQ and I failed to get away from it. Other than that, my only regret is that my seat didn't offer a better view of Liz.

My friend, Mr. Krumbine, who usually hosts the Thursday night game, was recently shipped off to Iraq, so I hosted the 'Krumbine $100' for the first time. I had to scramble to buy a poker table since I left my other table at a friend's place, but it all worked out. We took advantage of the warm weather and played out on the covered patio in the backyard, much to the delight of all the smokers. But most importantly, I achieved a $17.54 hourly rate over the 6.5 session for a net profit of $114.

While doing an online price comparison for poker tables that morning, I stumbled upon a local poker group which happened to be holding a $1/$2 no limit cash game the following evening. I signed up for the game primarily with the intention of finding some new blood for my Thursday game. Not sure if I succeeded in that respect, but I was certainly happy with the session that I had: $91.67 hourly rate over 6 hours for a net profit of $550. The game was comprised primarily of tight-aggressive players who were probably better suited for tournament play, and I felt like I held the post-flop advantage over most of them. If they hold the game with any regularity, it will be a good candidate to add to the schedule.

As for online play, I registered for a $4.40 PokerStars freezeout on Thursday and finished 38th out of 180. The biggest mistake I think I made was that I let myself get desperate before I was truly short-stacked and called an all-in with 77. I consider myself a pretty good short stack player (probably because I get so much practice), but I never gave myself a chance to prove it this time around.

I also just finished a $3.30+Rebuy with 2780 runners. Things were going smoothly until the following hand:

PokerStars No-Limit Hold'em Tourney, Big Blind is t200 (9 handed)
MP2 (t15345)
MP3 (t6525)
CO (t6775)
Button (t1599)
RandomFlask (t22599)
BB (t5253)
UTG (t5934)
UTG+1 (t12772)
MP1 (t22299)

Preflop: RandomFlask is SB with 8h, 8s.
3 folds, MP2 raises to t400, 3 folds, RandomFlask calls t300, 1 fold.

Flop: (t900) 2h, 8d, 3s (2 players)
RandomFlask bets t800
, MP2 raises to t5600, RandomFlask calls t4800.

Turn: (t12100) 4s (2 players)
RandomFlask bets t4000, MP2 raises to t9320, RandomFlask calls t5320.

River: (t30740) 7s (2 players)

Final Pot: t30740

Results:
RandomFlask has 8h 8s (three of a kind, eights).
MP2 has 2s Js (flush, jack high).

Outcome: MP2 wins t30740.

I did manage to get this player to put all of his chips in on the turn when I was over 80% to win the hand. But this being a tournament, there's still a part of me that wonders if I should've made a bigger bet on the turn rather than inducing a bluff with a weak lead. The funny thing is, had it been a cash game, I would've been elated with my play despite the end result. I'll have to take some time to ponder this one.

Wednesday, March 21, 2007

Rebuy strategy needs work

Well, that makes 2 straight MTT cashes. I finished 181st out of 2323 for a net profit of $5.36. Why such a small profit? I went a little crazy during the rebuy period. 7 rebuys plus the add-on, to be exact. It could've been worse, but I probably gambled just a little more than I should have. At least it paid off; my stack was about twice the average size by the first break.

Once we started playing 'real' poker after the add-on, I thought I did a pretty good job of using my chip stack to push the table around. I probably still could have been more aggressive with my button, but I'm working on it. My biggest mistake was that I tried to outplay unfamiliar players after the flop on 2 separate occasions. But even then, I would have been in great shape had my straight not succumbed to a full house on the river on a key hand about halfway through the tournament. Them's the breaks.

Results Update - March 20, 2007

Placed 95th out of 2117 in the PokerStars $11 NLHE ($15,000 Guaranteed) last night. Net profit of $20.76. I think I could've used position more often during the middle stages of the tournament to help build a bigger stack. I also lost a 3rd of my stack on a hand late in the tournament when I made the mistake of tangling with one of the chip leaders. Other than that, I was pretty happy with my play.

I'm getting ready to play in a $3.30+R NLHE ($10,000 Guaranteed). I've allotted 3 rebuys plus the add-on for this tournament, so I'll be mixing it up early. Results to follow.

My regular games

I'm still working on developing a regular poker schedule so that I make sure that I'm playing on a consistent basis (both live and online). Right now, there are only 2 games that I play in regularly:

"Liz and Brandon $20 Freezeout" - Wednesday nights. This is a live $20 turbo freezeout with a very steep payout. The EV is probably just barely positive as a result of the structure, but the friendly atmosphere and attractive (albeit taken) female players are more than enough to keep me coming back. The average player in this game is tight-passive.

"Krumbine $100 NLHE" - Thursday nights. This is a live $100 No Limit Hold'em cash game ($.50/$1 blinds). It has a great mix of loose-aggressive and loose-passive players, with the occasional tight-aggressive player thrown in. A great place to practice changing gears.

I'm still trying to determine which online tournaments I'll be playing regularly. My focus will probably be on the PokerStars guaranteed events, but I'll check out the offerings at Ultimate Bet, Full Tilt, Absolute, and Bodog as well.

My poker background

Like many new players, it was the explosion of poker on TV a few years ago that introduced me to the game, and I was instantly hooked. As is the case with most things that I take interest in, I had to do as much research as I could, so I bought a couple of books and it snowballed from there. Among my favorites:

The Little Green Book by Phil Gordon - A great first book for new players. It's a very easy read, and it covers the basics as effectively as anything I've read so far. Great for cash gamers and tournament players alike.

Harrington on Hold'em by Dan Harrington - In my opinion, volumes I and II are must-reads for any serious player, especially tournament specialists. I haven't checked out volume III yet, but I'm sure I will eventually.

Professional Poker by Mark Blade - This book details the things you should consider before trying to play poker for a living (or even for supplementary income). It also gives as thorough a treatment of bankroll management as I've found anywhere.

Super System by Doyle Brunson - They don't call it the "Bible of Poker" for nothing.

Other good books in my library:

Theory of Poker by David Sklansky (probably not the best place for beginners to start)
Book of Tells by Mike Caro
Book of Bluffs by Matt Lessinger
Tournament Poker for Advanced Players by David Sklansky
Kill Phil by Blair Rodman and Lee Nelson (how/when exploit the "all-in" move in tournament play)
World Poker Tour: Making the Final Table by Erick Lindgren
Online Ace by Scott Fischman
Hold'em Poker for Advanced Players by David Sklansky (for Limit Hold'em specialists)
Ace on the River by Barry Greenstein (mainly for entertainment purposes)
The Making of a Poker Player by Matt Matros (again, mainly for entertainment purposes)

Other resources:

Two Plus Two Publishing - These forums house invaluable content that you won't find anywhere else.
PocketFives.com - Lots of informative articles and forum discussions.
Cardplayer.com - The 'CNN' of poker.
Bonuswhores.com - Wealth of information regarding online sign-up and deposit bonuses as well as online poker in general.
RizenPoker.com - Online poker phenomenon, and my personal favorite blogger. I make no secret of the fact that his is a path I'm trying to mirror.

That just about covers all of the different places that I've learned to play poker so far (aside from actually playing, for which there is no substitute).

Why and how

The primary purpose of this blog is to force me to analyze my play and document my progress as I try to build my bankroll from virtually nothing. If others happen to learn from my mistakes, that's great too.

The game I will be playing most is No Limit Texas Hold'em (surprise, surprise). I do believe that it's important to become proficient in multiple variations of poker (and I certainly dabble on the side), but I'll be using this calendar year to find out what kind of progress (i.e. $$$) I can make by focusing primarily on No Limit Hold'em. However, I will be playing both cash games and tournaments.

I'll be starting with an 'unprotected' bankroll of $500. I'll play within my bankroll for the most part, but since it's an amount that I can afford to lose a couple of times over, I'll admittedly be taking occasional stabs at games which are a just a little beyond those means. Once I hit the $2000 mark, I will adhere strictly to the guidelines of a 'protected' bankroll. If you are brand new to the game or are playing with a bankroll that you cannot afford to replenish, I recommend that you not deviate from your chosen bankroll guidelines AT ALL.

In addition to playing both cash games and tournaments, I'll be playing in both live and online environments as well. For the live games, I've developed a few spreadsheets that will allow me to track my hourly rate. For the online games, I'll be using the venerable PokerTracker software to log my sessions. I'll also be using Microsoft Money to keep track of my balances at the various online sites.

Intro

Welcome to RandomFlask Poker. This is actually the 2nd iteration of this blog. The first version ran from early 2006 to the first part this year, but I had to sack it because I realized that I was talking a bigger poker game than I was actually playing. This time around, there will be no fluff, no BS. Just straight-up results, analysis, and a running total of my bankroll as I endeavor to break into professional poker.

Note: While I have serious aspirations of becoming a professional poker player, I have an equally serious understanding of the likelihood that I'll fail. I already have steady income that pays the bills, and I will NEVER play with money that I can't afford to lose. Unless you can say the same, please do not consider playing poker for anything other than recreation.