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Asking for Trouble

Monday, June 22nd, 2009

One source of valuable information that Sharkscope can give you about a tournament opponent you know little about is ‘average stake’. Often you will find that the player in question is indeed playing at a level he is accustomed to but it is extraordinary how often this isn’t the case. I have been struck recently about how often I have taken my place in a $109 SNG only to discover that several of my opponents at that level have an average stake of about $5. Further more, of those cavalier individuals who have suddenly taken a shot at a big money game, the vast majority will having been losing at the very lowest level. Quite simply, they are looking for one great game at high stakes to sort out their debts. To be frank these are good people to find yourself up against. They tend to be unaccomplished and now, thanks to a moment of madness, they are probably terrified.

These people are gamblers. I make a clear distinction between poker players and panicking, desperate gamblers. Poker players wager calculated sums with reason to believe they will see ROI -’return on investment’ in the long term. They have shown an ability to win some money over a period of time that has seen good and bad runs. I have previously suggested that a conservative estimate of what that time period would be is in the region of 1000 games or more. And trust me this is a conservative estimate. I know great online tournament players who have had a bad 1000 games. The swings are more brutal than 99% of online players could ever imagine.

For the gambler leaping up the stakes the phrase return on investment is an unnecessary compliment in itself. Throwing ten times more money at something you have previously been unsuccessful at isn’t investing in my eyes. Sharkscope should show their ROP – return on punt. When I go to the Epson Derby I’m not investing my money because I don’t know the first thing about horse racing. But I might take a punt, based on some ludicrous hunch involving a horse’s trainer being born on the same day as my uncle. In poker, you need to prove that you can win at the low levels in order to earn the right to play for big bucks. Put another way, get a bankroll!

The problem with this is that it can all take rather a lot of hard work, patience and can be rather time-consuming. Given that most losing ‘poker players’ – if I use the term in the loosest sense – are convinced that they are just unlucky, they can easily convince themselves that success is always just around the corner. (Most winning players are also convinced they are unlucky as well and that says a great deal.) Frighteningly, but also brilliantly from my point of view, a losing $5 player will often even conclude that their game is more suited to the high stakes. The rationale here would be that they operate on a level so high that their moves are wasted on other low stakes players. ‘A better player would have folded to my bluff there’, is not an uncommon thing to hear. So off they head to the high stakes where their brilliant play will finally be rewarded.

Delusional doesn’t even begin to cover this mentality. Yes, there is truth in the fact that a ‘move’ can sometimes work against a better player and not an imbecile but one of the game’s greatest skills is learning to play each opponent properly. ‘Don’t try to bluff a player who simply can’t fold‘, is a valuable lesson and one best to learn at lower stakes. These are the players who will pay you off when you really do have a hand. But putting all this to one side, the fact is that you’re probably not good enough to win at high stakes until you are a proven success lower down.
It is temptation that combines with this self-delusion when a player ends up in ‘too big’ a game. I’m sure that a player who has lost $250 playing $5 SNGs is discouraged by the thought that it will take a supremely good run at that level to merely return to even. He will then become intoxicated by the thought that just one good game at the $109 level will wipe out all the debt in an instance. Throw into the mix a sense of injustice having probably lost the previous game with AK against AQ and you have all the ingredients needed to make that rash decision to leap in at the deep end.

Of course, the most likely outcome of this decision is that that our loss chasing gambler will simply accelerate his demise into the red. Even the best tournament players on the internet don’t routinely make the money more than half the time in a standard format. Not over a year or two’s play at least. It is quite possible that the gambler will even play a faultless game. Indeed, I have noted that these stake leapers will often become very tight and put in a competent performance because so much is suddenly at stake. However, in a desperate bid to eradicate poor play they will often become too tight and weak. Suddenly their blinds are available for the taking and they become predictable. The regular high stake players have noted that the newcomer appears too scared to bluff or get out of line at all. Good players will inevitably use this to their advantage.

In the final analysis if the gambler falls short of the money at this level it will hurt more than ever. It won’t ultimately matter whether the crucial moment was determined by bad play or bad luck because the greatest pain will come from having needed a result far too much. Deep down, he will be angry with himself for entering a game that he had no business being in. But wait, perhaps he will make the money and it will all be ok. Possible. But I suspect that the bad decisions will not end there and it will all end in tears soon enough.

Simon Ballou writes for Oddschecker.com

Million Dollar Comeback

Monday, December 15th, 2008

Sadly, given the exciting title of the blog, this week’s subject has nothing to do with me. Instead it refers to last week’s exciting climax to the Ladbrokes’ Poker Million. The glamorous 6-seat format runs over several months and after dozens of the world’s top players tumbled out over 12 heats and semis the televised final didn’t disappoint. Belfast professional Marty Smyth, the only man to make the two previous finals was back again and this time he emerged triumphant. His success was made remarkable by a comeback from the dead that should inspire every tournament short-stack.

The live final began with Smyth rightly among the favourites for glory. However, nobody was backing him soon after he suffered an almighty setback that all but knocked him out. Southern Irishman Liam Flood raised in position with K-K, Smyth re-raised with A- K in the small blind and soon found himself facing an all-in bet from his veteran opponent. By this stage the Ulsterman knew he was in trouble but felt pot-committed to play a hand as strong as A-K to its conclusion. The better hand held up and Smyth was left with a measly 15,000 chips – the cost of one big blind and one small blind. Disaster. Of course it’s only in retrospect that I use the phrase ‘almighty setback’. At the time Smyth was assumed to be out. The old poker adage that ‘all you need is a chip and a chair’ is a nice thing to say, but to all intents and purposes, meaningless. Surely.

Soon after this major pot came a seemingly innocuous moment that will surely come back to haunt the likeable Liam Flood, known to many as The Gentleman. He was suddenly the new chip leader and determined to use that status to the full. This meant all-out aggression and raising a wide range of cards from various positions. This tactic is fully recommended for a man in such a position but needs a little adjustment or at least extra consideration when a tiny stack is left at the table and set to act after you. Flood promptly raised with 5-4 and Marty Smyth, somewhat inevitably, plunged his final 15,000 chips in with a King and half decent kicker. Everybody else folded and Smyth was left in a great spot to double up with only Flood’s mediocre holding to beat. Again the best hand held up and one further all-in success a few minutes later and the 3-time finalist was miraculously back in contention.

Although it would be harsh to blame Flood for such an unlikely reversal of fortune it was a loose move that sparked Smyth’s comeback and it shows the importance of finishing off a major opponent while you still can. The best prospect of finishing the Ulsterman off would never involve him taking his chances against 5-4. Had that hand being folded then it’s far likelier that a better hand or two would have been involved in that ultimately pivotal showdown. Raising trash hands has value against opponents with smallish but not desperate stacks because they are less likely to move all-in. If they do so then the weak raising hand can be folded and its limited showdown value isn’t exposed or relevant. This was not the case with Smyth who was guaranteed to play almost any two cards in his predicament.

Ironically Flood received his final comeuppance two hours later when again holding 5-4 he re-raised all-in on a bluff pre-flop from the small blind. This time he found the now fully revived Marty Smyth ready and waiting in the big blind with A-Q. Timing is everything and Smyth has a remarkable tendency to pick up great hands at the perfect moments, as well as being a terrific player. It’s a pretty formidable combination.

On another day the ingenuity of Flood could have been tournament winning and it was certainly a pleasure to watch. The re-raise all-in with 5-4 may sound like a wretched play to a novice player but that shows an ignorance of the table conditions he found himself in. First of all, the play was clearly intended to win the pot uncontested at a stage when the high blinds were vital to win. It was based on a read of the initial raiser and the belief that they couldn’t call an all-in re-raise with the hand they held. There were only a few hands Smyth could have called an all-in re-raise with behind him and he found one of them. In this respect it was bad luck rather than a bad read that denied the maverick efforts of Flood.

The difference between the first ‘5-4 hand’ and the second was all about fold equity. In the first instance Flood was almost certain to get a call from the short stack but on the second it was very unlikely, so he had lots of fold equity. Unfortunately for Liam Flood he got a call each time and his weaker hand failed on both occasions. In contrast, Marty Smyth never looked back from the defeat of Flood and it was third time the charm as he became Poker Million Champion 2008.

Simon Ballou writes for Oddschecker Poker

Borderline Plays

Wednesday, November 12th, 2008

Flopping a set with your pocket pair is almost the holy grail of tournament play such are the lucrative possibilities this creates. But the odds of this occurring are only about 7:1 meaning that most of the time the true strength of your holdings is minimal, or at least much harder to judge. With a low pocket pair there won’t be many flops that seduce you without the 3-of-a-kind, which at least makes it an easy hand to fold. High pocket pairs will often still play as overpairs and thus still have alluring value without a set on board. However, the toughest hands to play involve the middle pairs on flops where you could be in front or behind, but it’s incredibly hard to say. Let’s examine some of the different ways in which the common middle-pair dilemma can play out.

A classic awkward scenario you will find yourself facing is a pocket pair of eights and a flop of Q-7-3. Of course we all think of this spot in broadly the same way – ‘if nobody has a queen then I’m probably winning here’. Of course this is too simplistic, given the numerous factors we must consider. Firstly, how many players have seen the flop and what was the pre-flop activity? Obviously the more players that have seen the flop, the less likely it is that your pair of eights is ahead. If more than two of you have reached this point then it would be wishful thinking to stay involved in the pot after any flop betting. That said if you have position, and play is checked to you on this board then a value bet would certainly seem worthwhile. Then if anybody plays back at you it would be best to shut down. Yes, it is acceptable to just give up in this situation! Even against a loose aggressive player who calls every hand it isn’t that far-fetched to think he could have a queen in his hand. You will surely find a tighter spot than this to take on a bully. Furthermore, if he’s check-raising then his play looks much stronger.

It’s dangerous to convince yourself that that you’re definitely winning in this situation. One reason for this is that you’re hand is very unlikely to improve after the flop. The probability of another eight coming on the turn or river is 10:1. Let’s speculate that an aggressive opponent bluff re-raises you with nothing but a couple of high cards like K-J. If you simply call the re-raise bluff then he has many more outs that he can still hit to make a genuine hand and beat you – in this case eight. It is therefore imperative to either re-raise again, which is very high risk, or more pragmatically fold. In a SNG or any smaller stacked competition you will be wary of risking most or all of your chips on this play.

If we examine this situation as a 2-way pot in the early stages of a tournament then we must try and put our opponent on a hand range. Many tight players will only raise with high pairs and A-K from an early seat. From later positions these same players may open the betting with any middle pair or A-Q as well. Looser players may raise any pair from any seat as well as any two high cards, particularly when first in. It’s vital to know which of these two types you’re up against. If we figure first of all that a tight player has raised us from a late seat then our pair of eights is beaten by everything in our perceived range other than A-K, and that’s on any flop without an eight. It’s wishful thinking to put him on the one hand out of about six that you can beat – so fold.

However, if a really loose player is thinking ‘if I play it, I raise it’ then aggression should often be the order of the day. For one thing 8-8 becomes a very reasonable hand to re-raise with pre-flop. But having elected to call and seen a board of Q-7-3 you must think your chances are promising. The next dilemma is how to win the hand quickly, as we’ve discussed the threat of seeing further cards. This is where knowing your opponent comes into play again. Many loose players will see a first bet off the flop from you as a challenge and instinctively re-raise regardless of what they have, almost as a reflex action. With this in mind a strong check-raise appears a much safer option with 8-8 on this board. It will take a brave or stupid individual to play back at you with a worse hand at this point. But then there is still clearly the genuine possibility that you are behind. So which is it? At least bet-sizing has given you a little more information to work with. At this point you must rely upon instinct and judgement; it’s time to move all-in or fold.

Up to now I’ve only referred generically to the flop of Q-7-3. Of course if two or three of these share the same suit then that changes things considerably. People will routinely bet out and re-raise all-in on flush draws. This is a further complication to an already tricky spot. And it can get even worse. Consider holding pocket J-J on a board of 9c-10c-Kh. We have flush draws, straight draws, two pair and set possibilities everywhere we look. Yet we can’t help thinking that our well disguised 2nd pair and gutshot draw could be in good shape, especially against one dubious opponent.

These are the borderline plays that can make or break you in Texas Holdem. Sets and the highest pocket pairs will often play themselves but it’s the pesky mid-pocket pairs that often make you work for your chips. This is one area where the great folds save money as often as the great calls make it.

Turbo Selector

Monday, October 27th, 2008

One odd thing about playing poker seriously is that I have lots of friends who play socially. This is a weird dynamic that most people don’t experience. Doctors, for example, don’t generally go out with people on a Friday night who dabble in a bit of heart surgery. Instead they have to contend with people constantly asking what they can do about the crick in their neck. My occupational hazard is that everybody who’s won a few pounds off their friends thinks they do what I do. But the house games that I play are not poker as I know it. Effectively they are turbo competitions where the edge of the best players is negligible to non-existent. The emphasis of the evening is, quite rightly, on a few drinks, a bit of banter and not taking anything too seriously. Effort is also made to keep everyone involved so the best way to do that is to play about three games in the course of about four hours. This is all well and good but I only ever go there for a good time, not to make money. Friends of mine would point out that this is just as well as I rarely leave with any.

Good players should always be looking to invest their money in a game where they have an edge. It’s no good being the best player at the table if the format precludes you from demonstrating that fact. Accomplished players are drawn to events that offer them a deep stack and a ‘good clock’. In plain English this means that you get a lot of chips to begin with and that the blinds levels rise slowly, giving you time to play. If you begin with a short stack and blinds rise quickly then you’ll have to gamble early on and get lucky quickly if you want to stay in the tournament. As skill goes largely out the window, so that elusive edge disappears and you might as well be playing roulette or bingo. There certainly is a case for playing turbo tournaments online when you can multi-game and the sheer volume of games you can get through counters some loss of edge. But that is a discussion for another day. If you’re looking to make money in a live tournament, and multi-gaming isn’t a consideration, then the smart move is to find a game with a good format.

However, the other day I went to a venue that I enjoy socially and decided to play their Friday early evening rebuy tournament. I was unsure of what the exact structure would be but had classified this evening as a social night not a work night in my head. This is an important distinction for me to make. If it’s a work night then I must play tournaments that give me the best chance of success. On a social night I let my hair down a bit, don’t worry so much about the format and view any monetary success as a bonus. (I might add that I do occasionally have social nights that don’t involve poker of any description. Honest).

As it turned out the structure of this rebuy event was lousy even by my ‘social’ standards, but it did demonstrate the problems of turbo poker. Firstly we all began with a meagre 1000 chips for £23 and all rebuys and add-ons would be £20 for a further 1000 chips. The event was self-dealt which meant that play was painfully slow in that first 45 minute period, particularly with all the novice players in attendance. This was frustrating, not least because the hand per hour rate was pitiful, while the blinds rose every 15 minutes. Then when the rebuy period ended, to my horror, the blinds levels were set to increase every 10 minutes. Even worse. It quickly became clear that if you didn’t double-up virtually every 20 minutes you were going out.

The carnage was never ending. There was absolutely no chance of seeing a flop cheaply. It was all-in or fold poker for everyone. This is the single biggest difference between social poker and real poker. ‘Push or fold’ poker involves skill only so far as picking the right start cards to shove at the right moment. This should only be a tiny facet of the game, not the whole caboodle. The subtleties of finessing a flop, making great folds and adventurous bluffs are fine arts that are completely lost in a turbo crapshoot. At one point I ‘played’ an entire blind level without being dealt a hand after being moved around tables faster than one of Gordon Ramsey’s waiters. That’s what happens when players crash out every two minutes.

Remarkably, due to being luckier than most people, I managed to finish 4th out of the 59 who started out on this madcap adventure. I only mention that because my friends think I’m bitter when I go crashing out of our turbo house games. But now they can see that I even moan about the format when I do win money! My pursuit of pure poker with a deep stack and a good clock is never ending. Anything else is just a bit of fun and a good night out.

Simon Ballou writes for Oddschecker Poker

Rounders…A Whole New Ball Game

Monday, October 13th, 2008

A poker grinder doesn’t just think about how he can win the most money. He has to take the pragmatic view of things as well; how does he lose the least money on a bad run? It’s with this in mind that token-based poker comes into its own. I’m going to discuss the merits of a Sit and Go (SNG) format called Rounders found on the Microgaming network. There are similar structures available on other sites such as PartyPoker’s ‘Steps’ and Ladbrokes’ ‘Ladders’ that operate with the same premise. The basic idea of all these is that you can buy in at a low level for a small fee and win entries to the higher, more lucrative stages. A small initial investment can lead to a massive eventual prize.

The Rounders 10-seat structure is as follows: ($ can also be the equivalent amount in tokens)

Round 1: Buy-in: $5.50 (house fee inc). Finish Top 2 to win entry into R2.

Round 2: Buy-in: $27.50. Finish Top 2 to win R3 entry. Finish 3rd to replay a R2.

Round 3: Buy-in: $123.75. Finish Top 4 to win R4 entry. Finish 5th to replay any R2.

Round 4: Buy-in: $302.50. Finish Top 5 to win R5 entry.

Round 5: Buy-in: $605. 1st: $3000, 2nd: $1200, 3rd: $800, 4th: $500.

So there we have it. The opportunity exists to turn $5.50 into $3000 over the course of five SNGs. Not only that, but it’s possible to do that by finishing sequentially 2nd, 2nd, 4th, 5th and then 1st. That sounds even more achievable.

But the real attraction of Rounders is much more subtle than that and can even be missed altogether by many of the players who stumble upon the format. Firstly, you don’t have to play each round sequentially and can buy-in at whatever stage you like. Furthermore, and most crucially, each level can be replayed as many times as you like allowing for the possibility to STOCK-PILE TOKENS. Theoretically, this makes it possible to win money steadily over time without ever putting money in again after an initial investment.

To put this into basic practice a new player could buy-into Round 3 for the fee of $123.75. If he finishes in the top 4 places out of 10 he earns $302.50 worth of tokens – effectively a Round 4 buy-in. But he then DOESN’T play Round 4. Instead he re-invests that sum into another Round 3. If he achieves another top 4 finish then his token count will then be up to 481.25. There is nothing to stop the player attacking Round 3s exclusively for as long as he sees fit. Even better news is that if Round 3 success (defined as a top 4 finish) is achieved 50% of the time then it is profitable. For every ‘success’ the net token gain is 179 where as every ‘failure’ (except 5th place) loses just under 124 chips. Therefore, a 50% record sees your token stack rise by about 55 for every two games played. With this and much more in mind, I will outline my advanced rounder bankroll strategy next week.

As for the feel of the games, I find them to be the tightest SNGs going. Perhaps this shouldn’t be surprising as the format is incredibly appealing for the ultimate grinder. For the guys who spend their days playing nothing but Round 3s and 4s the mentality is ingrained deep within to just get through. The notions of chip building and bubble aggression are often ignored or deemed irrelevant. Consequently you often find that you’ve played for an hour, only two players have gone out and you’re surrounded by the proverbial rocks. This can be very off-putting and the danger is that you just become another player who plays too tight. But this has to be avoided, because your edge depends on aggression against weakness.

The realisation that first place is no better than 4th (in Round 3) or 5th (in Round 4) is not lost on many of these players, which is in itself to their credit. However, the reality of this is that so many players at the table are playing for 4th or 5th that nobody ever seems to go out! This means that the comfortable looking stack when the blinds are 50-100 has become a major concern when they hit 200-400.

The other interesting aspect to Rounders concerns the money level itself, Round 5. The grinders who have accumulated chips successfully are not always so adept at playing to win when it really counts. Furthermore, a number of high-stakes cash players seem to like buying in for the full amount, without any tokens, at the top level. With all respect to cash players, many of these guys should perhaps stick to the format where they made their money. Although if they want to win at cash and lose on SNGs that’s fine by me. All and all, I would say that Rounders are well worth a punt.

Simon Ballou writes for Oddschecker Poker

WSOPE Heartache

Monday, September 29th, 2008

Last week I embarked on my first ever World Series outing where I pitted my wits against the finest players on the planet, who had all descended on Leicester Square. My event was the £1500 No Limit Holdem contest in the second ever World Series of Poker Europe (WSOPE). I had wondered if all the top American stars would make it over for this appetizer course, with the main event still a week away. I needn’t have worried. The pursuit of ‘bracelets’ ensured that the Empire Casino was the venue for the who’s who of poker all week.

I initially found myself to be a little edgy in such illustrious company. My starting table put me alongside several familiar faces who ‘I knew off the TV,’ even though I was struggling with names. This was a little frustrating because I desperately wanting to check who I was up against but was not prepared to ask. ‘I know you’re a famous player and all, but what’s your name again,’ I thought sounded a little pathetic and, at the same time, a bit insulting. Instead I just hid behind my sunglasses that I had adopted for the day and decided to keep a low profile. The shades are not something I normally bother with – particularly for my internet play I hasten to add – but on this occasion it just felt right.

My efforts to keep a low profile were soon compromised when I spilt my water over ‘Gentleman’ Ben Roberts whilst turning round to see what Phil Hellmuth was up to. This clumsy act summed up my first session at the table. My 6000 starting chips were rapidly deserting me through a heady combination of ill-advised betting and missing every flop I saw. When I went to the first break after two hours I was languishing with little more than 2000 chips. I knew that if I didn’t turn things round fast then my WSOPE debut was going to be a bitter personal disappointment.

Thankfully, when we resumed my performance improved along with the quality of the cards I was dealt. I quickly doubled through with KK against AQ and picked up another nice pot when I flopped a set of 10s on a 9c-10h-Qh board. The pot was welcome but might have been more had I not felt compelled to check-raise all-in to avoid the many potential outdraws. The highlight of the second session was knocking out the aforementioned Ben Roberts after he pushed his short stack with A-9 against my J-J. ‘You spill water on me and then you knock me out!’ he lamented with a smile on his face. I can confirm that he is indeed deserving of his ‘Gentleman’ status.

The following session was largely uneventful as once again I found myself card dead. For a while this was unproblematic as I had jolted my chip stack up to a respectful, playable position. But inevitably if you’re not moving forwards then you’re moving backwards in this game. I didn’t want to be card dependent and was looking for spots to at least pick up a few blinds but this was easier said than done against such high quality opponents. US star Andy Bloch was just one character at the table with a decent chip stack to his name and he wasn’t afraid to use it. Of course when I did pick up AA for the one and only time in the day it inevitably clinched me no more than the blinds and antes.

After two hours without a significant hand win I was back in the short-stack ‘push or shove’ position. In the final hand before dinner was scheduled I made my big move. I was sat on the button with A-6o and was desperately hoping to be first in so I could push. Then, annoyingly, the guy to my immediate right beat me to the count and shoved his similarly short stack all-in. My immediate thought was to fold since A-6o is no great calling hand, especially with the blinds still to act. But on considering my spot a little more I was tempted. The all-in had come from possibly the loosest player at the table and although he would still normally play something better than A6 he was also very aware that this was the last hand before a 2-hour dinner break. I had little doubt that he was unprepared to wait around for that long only to nurse a stack even smaller than my own. With that in mind I felt that an ace could well be good against him and if I ran into a better hand in the blinds then that would just be my bad luck. Furthermore, since I had only shown good hands all day there was some chance one of the blinds would throw away a slightly better ace than mine when confronted with two all-ins. I called, the two blinds folded and I was encouraged to see my hand up against K-7o, and thrilled when the best hand held up.

Dinner tasted considerably better after that and on the first hand after the resumption things got even better. My J-J held up again against A-J and I found myself in my best position of the day, albeit still only a medium stack. Sadly, this was to be as good as it got. The cards neglected me once again and it began to look as though I would be limping into Day 2 in a pretty desperate position. I stole the blinds once or twice uncontested but my destiny was to be shaped in the very final minute of the scheduled day’s play. I had already told myself that I would go all-in with any two high cards or even medium suited connectors to give myself a double-up or bust scenario. So imagine my pleasure when I woke up in the big blind with K-K. I got the early seat raise that I hoped for and gave only a brief ‘Hollywood’ pause before pushing my humble stack all-in. I was relieved to see a call from Q-Jo, right up until the flop delivered a Jack and a Queen. The turn and river brought no justice and I was out in cruel fashion, finishing 48th out of 219 runners on the day.

Winning that hand with the heavy favourite would have given me a fighting chance going into Day 2, but it was not meant to be. On balance, and it really is a tough call, it’s better to go out courtesy of a moment of gross bad luck than due to bad play. At least I could console myself with the knowledge that I had held my own against the world’s finest. Maybe next year…

Simon Ballou wirtes for Oddschecker Poker