Posts Tagged ‘poker’

Keep Track of Your Bankroll in Holdem Poker

Monday, March 22nd, 2010

Serious poker players may bluff one another, but they have to be honest with themselves – especially when it comes to how much money they can really afford to lose. It’s called Bankroll Management, and it can be as simple as a few numbers jotted down on a notepad, or as sophisticated as software that tracks and accesses all the money that you have set aside for poker. And there’s a key point. You should have a clearly defined bankroll meant for poker only. Many players have separate bank accounts. You never want to mix up the resources that you require for life, with the resources that you have allocated to poker.

There are no hard and fast rules for determining how much you can afford, but there are guidelines that suggest how much cash you should have on hand to get into the game in the first place. Some experts say that you should have at least 50 times the size of the Big Blind (BB) before you get into a Limit Hold’em game. That means if the blinds are $1 and $2, you shouldn’t sit down unless you have $100 to play with. A bankroll of that size should allow you to be able to weather the inevitable swings in the game. Other experts will say though, that you should have at least 1000 times the Big Blind. So – to be safe, split the difference and try to have 500 times the Big Blind on hand at the start of play.

During the course of play the ratio of bankroll to Big Blind will change. If you started out with $1000 but quickly see that cut in half – you have two choices: risk losing it all fairly quickly or, drop down in limit. That’s one of the benefits of online poker: you can move up or down in limits fairly easily. If your bankroll ratio (bankroll/BB) is getting low, dropping down to a lower limit game will give you more time to build up your bankroll.

In a tournament of course, you can’t change tables – and in No Limit (NL) games you could be risking everything you have on every hand so.. in either case your beginning bankroll should be larger. The rule of thumb is to have access to 40 times as much as the tournament entry fee, or 100 times the big blind in a NL game. If the tournament fee is $100, you shouldn’t sit down unless you have $4000.

With those ratios in mind, the clear suggestion is that you start out low, and slow, and work your way up.

If you can keep a respectable ratio at a lower limit, that may indicate that you are ready to move up.

If you can’t, go back to Free Play and work on your game.

Holdem Poker Tournament Basics

Monday, March 22nd, 2010

First, understand what a poker tournament is. It’s not a battlefield. It’s not a debate. If there is a modern analogy, it might be the so-called ‘caged match’ in so-called ‘professional wrestling. Ten men enter and only one survives. But that analogy is not perfect, as the truth is that five, ten, sometimes 25 or more entrants survive every tournament very well thank-you. Maybe it’s like the popular TV show, “Lost”. You’ve landed on an island in the middle of nowhere and you have to find a way to survive. You only have so much food. There are beasts in the jungle. And your fellow passengers are not to be trusted.

Survival: That’s your first objective. You need to make it to the next hand, and from there to the next table, and from there to the remaining tables, and so on.. To do that you can’t just sit on the beach and wait. You have to get off your butt and do a little exploration of the island, take a few chances. You have to find food (chips), water (chips), and to a way to deny these necessities (chips) to the other passengers. So what’s your strategy?

Weapons: What do you have in your arsenal? What makes poker interesting is that everyone has access to the same weapons: rules of the game, knowledge of the odds, insights into character: it’s how you handle those weapons that makes the difference. Your weapons are only as effective as your expertise in handling them. Know the odds, and know your opponents (or at least be actively assessing them as you play)

The Stack: As you move through a tournament each level will bring with it a new crop of generally more skilled players, bigger blinds, and greater pressure. At all times you should be aware of your stack, and how to protect it. While you need to have a consistent strategy and stick to it, that strategy must be adapted to circumstance. You won’t take the same risks in the early part of a tournament as you will toward the latter stages. Be patient, but know when to strike. And when you are confident you hold a winning hand, work the table to build that pot.

Energy and Focus. The difference between a champion and a good player is often very simple: focus. We’ve all seen the speed skater heading toward the finish line suddenly ‘lose an edge’. He may have been the strongest and the fastest, but a momentary lapse of focus and everything is lost. You may have the greatest knowledge of the game, a sure-fire strategy, and a big stack of chips but if you lose focus, aren’t paying attention, and let yourself get pulled into a duel with another player who is paying attention, that may be all she wrote. To maintain your energy and focus in a long tournament take advantage of any breaks to eat well, drink water (never alcohol), stretch and revive. If you get a chance, take a relaxed walk around the block, a bathroom break, and maybe wash your face and brush your teeth. (Back at the table though, don’t let anyone know how refreshed you feel..)

Strategy: No one can tell you what your strategy should be: you know best what works for you. Of course there are plenty of examples (books and books) of strategies that have worked well for others, and a familiarity with these approaches is important. More important to tournament success however, is that your strategy is not obvious to others. Especially at the beginning of a tournament, or when you first sit down at a new table, it’s important to mix it up. Be aggressive one hand. Limp into another. Make a bad play or two. Remember, the good players are paying more attention to how you play, than their own cards. If you don’t mix it up, especially in the beginning, the good players will soon figure you out and – no matter what cards you are dealt, will minimize your effectiveness.

Be Lucky.

The History of Poker

Sunday, March 21st, 2010

What time is it?

Do you really want to know the history of poker?

Poker is now, right now. It’s the fix you’re in, the cards you’ve been dealt.

The history of poker goes only as far back as your last hand.

Not buying that?

How about, the history of poker is.. a bit muddled, a bit muddied. Some people will tell you its origins are in Persia, in a game called As Nas, which might explain some of the problems we’ve been having over there in recent years. Others disagree.

Wikipedia speaks of a German game called ‘Pochspiel’, which translates literally as ‘the poke game’, and means something along the lines of, ‘okay bud, if you don’t believe me, put your money where your mouth is’. That German game, and the other European variations that came after, had one thing in common, bluffing.

Anyway, whether it was with a 20-card deck (which is the way they often played it in the eighteenth century and sounds like a game of pure bluff), or the standard 52 cards, a game that required the ‘temerity’ of what we now understand as poker, made it over to New Orleans in the early part of the nineteenth century and like jazz music, spread from there through that great artery of industry and commerce, the Mississippi-Missouri-Ohio river system, into the very marrow of America.

Poker was, in those early days, already synonymous with the pioneer spirit, as it was the game of magnificent Paddle-wheel riverboats that were loaded with equal parts cotton and culture. Mark Twain – who began his adult life on the Mississippi, knew the game, and chronicled the American taste for risk taking.

I like the jazz metaphor myself, because at its best, poker is a kind of beautiful improvisation. Coltrane could take a few basic notes and turn them into a religious experience, and a talented card player could turn, perhaps, a humble Ten and a Two into enough folding money to fill a ten gallon hat.

Anyway, somehow, Poker got into our blood, and it might have stayed there, hidden, a subtle influence on literature, an easy way to add character to a cowboy movie, a diversion for bachelors and college kids, would have stayed that way if it were not for technology.

Really, and once again, the history of poker is most honestly defined by the last hand, and the last winning hand dealt to the history of poker was the Internet – and to a lesser degree, cable television.

Yes, in 1970 the first World Series of Poker championship was held, and out of that smoke-filled backroom emerged the now almost mythic personas of Amarillo Slim, Doyle Brunson and others. And yes Hollywood, which is always looking for authenticity, so they can market the hell out of it, came calling. But in terms of the average, fun-loving person, The World Series of Poker was not a revolution. In 1970 there was more of an audience for pocket billiards (as least in England), than poker. There were Rock Stars in 1970, but none of them were poker players.

But when Internet access to online poker and the hole-card camera were introduced at the end of the 20th Century, ‘pochspiel’ finally came of age.

Suddenly it wasn’t just heavy-set mustachioed oil-men from Dallas that could play the game at a high level. Suddenly it wasn’t just the stuff of eighteenth century melodramas where men in powdered wigs lost fortunes by candlelight.

Suddenly an unknown kid named Chris Moneymaker could not only hold his own, online, but without a moustache or a fondness for Bourbon he could enter and win that World Series bracelet.

The history of poker is there, right now, face down on the felt.

Online Poker – Should you care when or where?

Sunday, March 21st, 2010

Right now if you’re sitting at home somewhere in the ‘States’, there’s a good chance your breaking the law.

Real-money poker – at least the online kind, is illegal in this country. Attached to anti-terrorist legislation signed by President GW Bush in 2005, were regulations known as the UIGEA (Unlawful Internet Gambling Enforcement Act, which prohibits US Funds from being transferred from a financial institution to an Internet gambling site. The legislation is in a kind of legal limbo right now, but it has already had the effect of closing many online sites and driving the poker business overseas.

If you’re reading this the chances are that you are a poker player, and want the ability to play for money online. It is convenient, fun – and if you are an American, could mean billions in tax revenues that could be put to good use.

Look at the revenues from your local, government-run lottery. In many states it is mandated that profits from government lotteries go directly to schools, arts programs, or local government. The revenue that could be realized from online poker, could do even more.

Right now, if you’re sitting at home, do more than play a few hands of poker. Take the time to write your Congressman or Senator a little note, asking them to consider the benefits of a regulated, taxed, American-based online poker industry.

Such a government regulated industry could add strict penalties to a system that is now self-regulated. Right now, the fox is guarding the hen-house. Right now the top players are the stock-holders. Right now professionals are colluding with one another to take someone else’s money. In the past several years there have been numerous stories of Poker Industry insiders manipulating software.

Poker is an individual game (or should be) with you – the player, taking on all comers. The fears of the established professional sports (football, baseball, basketball) that legalized gambling could cast doubts on outcomes, is real – but a separate issue altogether. In fact re-writing the UIGEA regulations to include additional protections for our traditional sports, is critical.

Lets not throw the baby out with the bathwater. Let’s make sure that poker players, baseball fans, and those who have a casual interest in these past-times, have both their freedoms ensured and and their checkbooks protected.

Tell your representative that you support sensible, comprehensive online gambling legislation.

Texas Holdem Poker Spring Training?

Sunday, March 21st, 2010

That’s what poker needs: spring training. Most sports have a pre-season. A month or two when its fans can bask in an optimistic sun, gather autographs, head to the beach- confident that this year will be different.

But poker just goes on and on, without regard to the light, without a concern for the weather, with not even a nod toward Puxsatawney Phil’s prognostication. And that can be depressing. Especially now, in the dead of winter.

In poker the game is never called because of rain or snow, or even darkness. In poker the darker the better.

But does that bode well for this new, universally accepted, globally practiced game? Perhaps when it was just Doyle and Amarillo and Telly Savalas, the excess of poker was a big part of its appeal. But today – when anyone can sit in at the main table, there seems to be a clear need for a poker pre or post-season.

Wouldn’t it be great to head to – lets say, Albuquerque in the off-season (August/September), enjoy the mountain air, and watch the top players just fooling around. Maybe it could be a mini-season with all pots going to charity? Maybe there could be an all-card playing pre-season where Bridge players and Pinochle fanatics and Poker players mixed with tarot card readers, and bubblegum card collectors.

Sure I know, poker players want to maintain the mystique, but that mystique will always be there because it comes from the players, from their characters, their idiosyncrasies. Poker is now as mainstream as horse-racing, as accepted as Jazz. It needs to find both its season, and its off-season. It needs to realize it is a part of the everyday and, so as not to wear out its welcome, it needs to take a little break every now and then.

Day 27

Sunday, March 21st, 2010

Hey, what do you want? Life got in the way. I have a job. I have a life. I had the flu. I should have tried playing when I had the flu. I coukldn’t have done any worse, and maybe I would have taken the kind of chances that – when my head is clear, I’m too rational to risk. Maybe, I should play ‘as if’ the chips were worth real money? Wait, let me try – and see what happens. Hold on, while I log on…. Well, first off, even though I am impressed overall, with the program and how it works, there are quite a few times when the thing freezes, or logs me off, or something happens. Then the whole game goes into limbo. Now there’s some new software to download, and after a few false starts, its loads and what do I see – a come-on for a new game. I think if regulators get down to it, they shouldn’t allow those kinds of promos, pop-ups, etc. They shouldn’t be able to get you in a virtual corner and say, try this, you’ll like it.

Okay so I thought I’d give ‘Rush Poker’ a try, on the Full Tilt site. They show you how to play, offer a $5 bonus for trying, but then I can’t figure out how to get started. Is it only for real money? I’ve got a few hundred ‘play’ chips? A $5 bonus for trying something that looks like it could suck a lot of money out of my pocket in minutes, doesn’t seem like a good bet.

Okay I figure it out, and got into a game, and lost every chip I had in under five minutes. Mistakes, I’ve made a few, but then again, here’s a few to mention.. I went in on a no-limit game. In one hand, in about 15 seconds or less, I lost 2000 or more chips. I stayed alive a few more hands, won two in fact, but then went all in, by default, and was stoned. I shouldn’t have played at all without a better sense of when to go in and when to get out, fold. Then again, it seemed more real, more like real poker, like what you see on TV, might in fact be better ‘training’ for real poker. It happened so fast, it didn’t even hurt.

Day 11

Sunday, March 21st, 2010

“I have a life you know. Right now I’m pretty sure that my life and poker are not the same thing, and never will be. But I know how it goes. I mean, if you win. If you win you think, this is easy, and that probably fuels the fun. What I am saying is that right now I can’t see giving this enough time to grow on me. I don’t think I have enough fanatic in me to become obsessed, driven enough to spend the time to learn this game.

“I went back, sure, after a week off, and I was pretty bad. I started off with a few hundred chips, lost those, tapped some more of my ‘winnings’, lost those. I started to think I knew what I was doing. I had a strategy. I folded if I didn’t have a minimum hand, face card suited, or at least a pair, something. But it seemed like those at the table with me were more risky, and were lucky too. I thought, at first, that I needed to play for real money, if low stakes. But then I thought, if you can’t figure out how to win for fun, what the hell do you think you’re doing? I am not sure that makes sense. Maybe playing for fun alone, no cash, is just putting yourself at the mercy of the odds. You have to beat the odds, don’t you? I mean if you can’t see the other people’s faces, their real faces – then all you can go by is the odds, and I suppose, if you were real paranoid, the way the funny heads played. But do people really follow other players around, compile statistics? For what? Maybe if I was playing for real, I mean real money. But is that the same thing? I mean is poker not just my cards against yours? Is it mean against the machine?”

Day Two

Sunday, March 21st, 2010

“It’s a little creepy. I mean, are these people at it night and day? How else could they have accumulated all these chips. There was this one guy in a James Bond head, had something like 25,000 chips. I wondered what he was doing there, if he was so good. I had 200, got up as high as 950 or so, back down, back up, but always hovering near zip. Right away I said to myself, if I ever figure this out I’m going where people know how to play, because otherwise what is there to lose? Isn’t that funny, I started thinking right off that to win, I had to have something to lose. And to win consistently, everybody around me had to be in the same predicament.”

Day One

Sunday, March 21st, 2010

“Its intimidating. They have these poker websites, all black and red and, not what you would think is appealing to women, and the first thing you see are stories about people winning and losing hundreds of thousands of dollars. I don’t know about you, but that’s intimidating. It doesn’t make me want to sign up. But at least they’re smart enough to lure you in with some free poker, if you can find it.”

Sharona did find her way there, relieved she says, that she didn’t have to give out any financial information, at least at first, in order to be able to learn the game. So once she figured out the download..

“I thought it was a bit silly, the players all had to have, what do you call them, cartoon heads? I thought ‘where’s my 3D glasses’? The women’s choices were a bit tacky too, I thought. But to tell you the truth, I was amazed at the software. It practically played for you. The only thing I didn’t like, or wondered about, was whether this online game was the same as, you know, live and in person. I mean there’s no interaction. I thought, if I ever get into a real game, seeing real people sitting across from me, giving me the eye, well, I mean that’s going to change how I play, right?”

But then Sharona learned that, if you like, you don’t ever have to ‘interact’. There’s plenty of money to be made online.

“it’s scary, really. All that money, won and lost with a click. What if you made a click by mistake. Poof!”

But that may be a way off for Sharona. She started with 200 chips, and after two hours she needed to add 200 more, and so on. “The big difference was that, at least as far as I could tell, none of the other funny looking heads at my table were drunk,” Sharona said. “Its much easier to win when the other players have been drinking.”

Sharona – the poker beginner

Sunday, March 21st, 2010

The story of Sharona Packs, a beginner at so many things, poker being just one. But one evening Sharona crashed the annual all-night poker ‘shebang’ – least that’s what her boyfriend called it, and became enamored of the game.

“I was lucky enough to stumble up to his apartment at an hour when most, if not all of the boys were more than half in the bag,” Sharona remembers, “ and I watched with, call it amusement, as they took turns making dumb bets, blowing good hands, and otherwise doing a disservice to poker lovers everywhere.”

But still Sharona was impressed, at least with the passion of the players, despite their alcohol-infused ineptitude. And one particular fellow – notably not her boyfriend at the time, was what she called ‘a warehouse of information’ on the game – and an industry, that seemed to be some kind of secret and exciting club.

“If you’re not a player,” Sharona said, “you just don’t have a clue what’s going on. I mean the millions of players, the millions of dollars, the thousands of games going on, live, or online, and the amount of money that the average idiot (her word, not mine) is throwing away because he doesn’t have the time, or the intelligence (her words not mine) to figure it out.”

So Sharona started to play, and we thought it might be interesting to follow along, see how she does. See if she can succeed, make a little money, or at least learn how to play the game in a way that will allow her to easily beat the boys at the annual ‘Shebang’.

“That was one of the first things that hit me when I began to play,” Sharona said. “This is a game that is associated – or at least was in my mind associated, with wrinkled old men clutching bourbon bottles in the back rooms of whore houses in old Clint Eastwood movies. But women can and do excel at this. And geeks and nerds, and Wall Street brokers.. so why not me?”

Sure, why not. So we’re going to follow Sharona as she deals herself in to this secret, not at all what she expected, world of poker. Stay tuned.