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Where to find the biggest edges

Taking a long break always makes me want to play more poker right after getting back. I've been playing a decent amount since Thursday and should have a bunch of fun hands up soon. In the meantime, while I'm picking up material, I thought I'd throw up a quick post on where and how to play to build a bankroll. I'm not Jesus Ferguson and don't make a habit out of making $1 into 20K on a regular basis, but I do occasionally play lower stakes and like to look for spots to boost ROI "off the beaten track". It's not 2004 anymore and making high 4 figures a month from little to no risk casino whoring is a thing of the past, but if I had to make a few thousand dollars into 20,000 as fast as possible, here's what I would do:

1)Immediately move my roll onto as many sites as possible, *but* move it entirely off Stars. I love Stars and have made a lot of money there, but it's just not a good cash game site and the tournaments aren't conducive to a low budget. Even buyins as low as the 11r or the 20/180's get their share of good players, there are no overlays, and satelliting into a tournament only gives you T$ (or W$!!!), so if you're on a tight roll with little margin for error, what's the point?

2)Split the roll up as follows: 50% "cash game site", 50% "tournaments" - split up between Bodog and FTP. The cash game roll can technically be anywhere you have rakeback, but should be on the site with the softest games you can find. I recommend Cake for US players; Euros should look into places like Everest. Other places like UB, Absolute or even WSEX (if you're a limit player) are fine, too, but under no circumstances should your cash game site be Stars or FTP. The combination of bad or nonexistent rakeback + tough games isn't worth it.

3)Why Bodog and FTP for tournaments? Bodog has overlays on every guaranteed tourney they run and soft fields; FT has the best satellites, good SNG's (that aren't as nearly fully solved/12 tabled as Stars) and a good, but still fast-ish structure. Roll permitting, you should also look into some of the smaller sites, still focusing on game selection and overlays.

4)Play weird games. If a site has good NL, it will have great limit and fantastic Omaha. If a site's midlevel SNG's take too long and/or have an odd structure, the top level ones are a goldmine - because pros shun them - and you can probably take shots on a short roll. If you've ever read a book on stud, you already know more than most people playing small stakes HORSE. Those FTP sats where everyone starts with 3 BB? It's probably possible to break 100% ROI in them, because *no one* other than the rare SNG pro has memorized 3 BB ICM theory, much less bubble play when everyone has 5 big bets. Explore, explore, explore.

See you at the tables.

Hand reading 103: Bluffing when they have a medium strength hand

Note: Because of the nature of this post, it's more applicable to MSNL than HSNL, and won't help you much at nosebleed stakes.

Getting the most out of a guy telegraphing an overpair or a huge draw when you have a monster is pretty easy - just don't slowplay and all the chips will be in the pot soon enough. When you don't have a monster, your action is also pretty easy - just fold, unless you've got something with enough outs or implied odds to continue. Running big bluffs on people with big hands doesn't pay.

Of course, people don't always have a big hand when they bet, and rarely have a big hand when they check. Nevertheless, it also doesn't pay to blindly bet/raise trying to pick up every medium or large pot just because the villains aren't showing any strength - even bad players will eventually catch on, and decent ones will quickly start trapping you. So the trick here is to read villains' hands well enough to know when their hand is OK, but cannot stand much heat, and take away a decent portion (not all) of these.

This is a very broad topic and can't really be covered with one post, mostly because every player has a different set of tendencies. But almost everyone playing MSNL and even many HSNL players will telegraph their hands to you in their own way, especially in limped pots and given multiway action. (Limped pots are great for this because the average hand is weaker and people are less willing to contest them. You can often get a hand like JT to fold on a J64 board in a 10 BB pot, where the same bad player will happily stack off for 100 BB if you raised PF.)

When you are not the initial aggressor, the trick here is to recognize when somebody is trying to exercise pot control. In an MSNL 4 or 5 person limped multiway pot (generally, this will be a live game), when the first or second limper bets less than 2/3 of the pot on the J64, rainbow flop, they are very likely to have exactly a weak to decent jack. Most of the time they're called in one spot, they will either check or blocking bet (underbet) the turn; if they are raised, they will either call and check/fold the turn, or fold immediately. This is the type of board and hand on which a late position float is profitable; you can see if anyone else overcalls, the other guy doesn't typically have much, and unless you have 72o, your hand almost certainly has a decent number of outs if your planned turn bluff doesn't work. The more outs you have, the better a float is; keep in mind that something as weak looking as 87 with a backdoor flush draw might turn out to have 40% equity in the hand!

When you *are* the guy taking a stab at the pot in the first place, you should pay attention to how likely the people in the pot with you are to fold to second barrels and how likely they are to have draws. If everyone checks to you on that J64 flop when you have the button and you have a tight image, it's OK to bet with almost any two cards, as long as your opponents aren't so bad that they will call down with something like 76 over multiple streets (very few are.) There aren't many draws out there, the checks say nobody is likely to have a jack (but since you're on the button and overlimped, you very well might), and even if someone calls your flop bet, they will probably not call a turn bet. BTW, keep in mind that if one of the blinds calls your bet on this board, they are far more likely to have a jack than when a limper check/calls, instead. Limpers here will sometimes take cards off with very little, but because there are people behind them, the blinds have a tighter range. That doesn't mean they won't still check/fold lots of turns, though.

Some other things to look for to identify opponents with weak or medium strength hands that can be taken off them:

-people who will raise PF and cbet most flops, but usually will not bet the turn (and if they check the turn, usually check the river as well)

-people who limp a lot from early position and weak lead on the flop

-any sort of weakish looking bet (more applicable online than live, since live bets are undersized)

-when the player quickly checks any scare card (a third flush card, an ace, a straight completing card), especially on the turn - even if they call the turn, a river follow through is nearly always profitable (bonus points if you actually are merely semibluffing on the turn)

Against decent or good players who are unlikely to put in a full stack light, you should also consider otherwise rarely used alternate lines. Let's say you are in the blinds and defend a hand to a middle position raise in a full ring game. The flop comes 872, and you know that this player is unlikely to have hit this board. What is your plan?

Note that I didn't say what your hand is. No doubt, you'd probably check/call some hands, check/raise other hands and maybe bet out a few. But most of the time you check/call, you also check the turn, most of the time you check/raise, you will lead the turn, and if your bet on the flop gets called, you will probably check scary turns and bet random ones - again, regardless of your hand. These are all natural tendencies and your opponents get confused when you go against them - so, when you think they missed the flop, consider doing that. When you are against a thinking, but straightforward opponent, check/call, betting a board like 8723 with a hand like 65 will often get better hands to fold cheaper than checkraising the flop would have, and if you then follow through on any river, good players will frequently even talk themselves into folding overpairs.

I'll be on vacation for a while, but should be back posting in a couple of weeks.

Satellites: WSOP game selection

In addition to sat strategy like the last post, over the years, I've made a couple of big satellite threads on 2+2. At one point, I promised I would update last year's thread and/or talk about how and where to qualify for the WSOP after I got a seat. Hopefully, I'm not done winning seats yet, but here's some things I'll throw out there:

-Just like last year, this year, winning on FTP or Stars gives you a bunch of bonuses if you make the final table or win the ME. The FT first place prize alone adds $1,000 in EV to the tournament if you have an exactly average shot of winning it with 10K entries, $2,000 if it only has 5K, and so on.

-This year, picking between FTP and Stars for qualifying is tricky. When you play an FTP sat, for example, you're basically just playing a regular tournament with a bunch of $12,000 payouts at the top. For a few reasons, this means a tougher field at FTP than normal; FTP also has 12 minute blind levels, where Stars has 30(!) minute blinds, and Stars throws in 1K (or a week's hotel stay) for the first package you win. That makes Stars the best place to win a package if you're only going for one, but the first Stars package is non-refundable or transferable (you must use the seat) and the second only pays out in W$, which are worth around .85 on the dollar. FTP also has the 'King of the WSOP' promo running - I probably won't be playing enough to get there, but clearly, if you're going for multiple seats, Full Tilt's the way to go. (I'm American so I have no idea what, if anything, Party and other non-US sites are doing.)

-Smaller sites remain a good option, but multiple seat satellites are such a huge advantage over winner take all sats that the latter are just about never worth it. The exception is sats with overlays, like the $250+20's at Bodog last year. This year, it looks like Bodog has some overlays again, but they're allowing people to win multiple packages if they're spaced > 30 days apart, which might eventually kill that. (Incidentally, this is a terrible rule.) There are a couple of other sites that might be good this year, too - I won't mention them in print, but you should be discreetly looking around a few out of the way tournament schedules.

Good luck in the WSOP.

Sidebar: Satellite play

Today, I'm going to take a break from posting in lesson format and just talk about satellites.

I love sats. They are my best game and almost everyone else's worst game. Many otherwise good, even great, tournament players completely blow up when faced with late game sat situations, are terrible at knowing when and how to pushbot, and add thousands of dollars to shortstacks' EV late in a sat. Cash game players are worse - I can think of at least one 25/50 NL winning regular who's close to dead money whenever he picks up a big stack in a satellite, solely through misplaced aggression. Last year, I picked up 2 WSOP seats in only four $650 events; this year, I won my first package on my fourth 'big event' try (3 Stars 650's and the FTP 1K event I qualified in) and, although I'll be traveling and probably playing for only half of May, hope to pick up 2-4 more packages before the ME starts. Thanks to the constant mistakes everyone else makes, playing a big sat awarding many seats is a little like playing during the good old days of 2004 Party.

Yesterday, I played a number of interesting hands that show how bad the play is. I'd rather not analyze them all today, but I'll throw one out there for now. Here's the hand that got me into the $1060 sat for a $109 investment:

Seat 2: the1captain (13,145)
Seat 3: DooshCom (19,800)
Seat 9: Adar (13,555)

the1captain antes 200
DooshCom antes 200
Adar antes 200
the1captain posts the small blind of 800
DooshCom posts the big blind of 1,600
The button is in seat #9
*** HOLE CARDS ***
Dealt to Adar [7s Ah]
Adar raises to 13,355, and is all in
the1captain calls 12,145, and is all in
DooshCom: okay I got crap..
DooshCom has 15 seconds left to act
DooshCom: but..I'm gonna call anyway
DooshCom calls 11,755

Adar shows [7s Ah]
the1captain shows [Ad Qh]
DooshCom shows [Ks 4s]
*** FLOP *** [Tc 6s 2d]
Adar: win pls
*** TURN *** [Tc 6s 2d] [2c]
*** RIVER *** [Tc 6s 2d 2c] [4d]
Adar shows a pair of Twos
DooshCom shows two pair, Fours and Twos
DooshCom wins the side pot (820) with two pair, Fours and Twos
DooshCom: lol
the1captain shows a pair of Twos
DooshCom wins the main pot (39,435) with two pair, Fours and Twos
DooshCom: I did
Adar: ty

Funny call, right? Now let's do some math. This sat paid several people but gave out only 2 $1060 seats; third place got something like 480. Overall, then, we were playing for 2 more $580 spots.

If DC had sat out, losing this hand would leave me with 410 chips; he'd have 18K and captain would have 24K. I would then have to win around 3 consecutive all ins with a random hand, probably against two people at least once, just to come back to the 5K mark - at which point I'd still be a dog. In other words, my equity in the tournament if he'd sat out might be 10-20 bucks or so (you can use ICM - Google for this - to find the exact number, but I'd be shocked if it was more) and the other two would essentially have 570 each. Of course, if I won, the tournament would be over. In short, if he left and got himself a sandwich, he would wind up ahead maybe $575 in Sklansky bucks.

But DC called, figuring it didn't much matter what would happen. As it happens, he had two live cards, his best case scenario, giving him 37% equity/AQ 43%/me 20%. Let's examine what happens in this 'best case':

-When I win, the tournament is over;
-When he wins, the tournament is also over;
-When captain wins, the tournament is over only if I also lose. I'm a 56% favorite in the 820 chip sidepot.

It's not totally exact because equity isn't really winning percentage, but as it happens, a little over 20% of the time, I wind up with 820 chips, he winds up with 6K and captain has a giant stack. At that point, because it's my BB and his SB next, I am exactly 2 all ins away from being a big favorite to take the second seat. My equity in that scenario is somewhere in the neighborhood of $100, all of it coming out of his equity. Since that happens 20% of the time, this cost him 20 bucks - and that was the absolute best case. If I actually have a real hand or captain dominates him, the worst case costs him upwards of 50.

Sounds small, right? Well, the buyin is $109. This random 'I'll just toss in my chips to end this faster' call is like giving away a quarter of your stack before you ever start the tourney.

And that's why satellites will always be +EV.

Hand reading 102: Taking advantage of a tell, part I

In my last blog entry, I wrote about a couple of basic online poker tells. Like I said in that entry, these tells shouldn't really be new to you if you are an experienced online player; they're meant to be representative of the several dozen other tells exactly like those two. In fact, except for the better HSNL regulars and the best tourney pros, almost everyone gives off tells via their timing and betting patterns in almost every hand they play. This time around, I want to give out some tips on how to take advantage of that.

First, let's talk for a bit about preflop tells. These are more important for tournaments, but do tend to show up vs. shortstackers in cash games, as well. The majority break down into two categories:

1)Oversized raises

2)The speed of the preflop action

Oversized raises are obviously the easiest ones to spot and are almost always accurate (that is, few people fake a 4x raise; even if they do, sooner or later, some short stack will reraise them anyway and their faking will be uncovered.) I'll make it simple: most of the time, a bigger than normal raise is AK, QQ-88. Sometimes, it's AA-KK, especially when a low stakes player makes it deep into a big tournament. Overbet pushes (when someone just shoves 20-30 BB, especially with no limpers) tend to be a shade weaker - something like AK-AJs, JJ-77. Keep in mind that a good player shoving 20 BB after several limpers will often have something worse, though, and a 10-12 BB late game shove is also quite different/depends on position.

The speed of the action - especially a preflop call - also sometimes means something. This is quite a bit trickier to spot, is not nearly as accurate as bet sizing, and needs experience to get it right, so I won't go too deeply into it. One thing you can take on faith, though: if a bad player autocalls (that is, checks the 'call a raise' button) a PF raise with medium or deep stacks, it is a hand that he will play no matter what, but not a monster or anything special. Look for small pairs, small to medium suited connectors, or two 'not so great' big cards like ATo/KJo. These same players will quickly call with any pair postflop, and will stack off with top pair, but they'll need to think when calling with overcards or a gutshot.

Taking advantage of these should be self-explanatory, so let's move on to postflop tells. Most of the time I see decent - but not great - players lose tons of chips or bust out of a tournament *early* is when they ignore an obvious tell coming from a horrible player. I'm not going to list individual tells - there are too many and I'd like to be able to play poker afterwards without having to adjust all over the place - but here are some things decent players should do far more than they do:

1)Raise blocking bets. When somebody bets 100 chips into a 1000 chip pot, a raise to 1000 - or even 800 - must work < 50% of the time to show a profit. Very few people betting 100 into 1000 know anything about poker, so that bet is almost always what it seems - scared money. (Even if you get called here, you should sometimes follow through on the turn for the same reason.) Once in a great while, you'll run into an exception, get minimum 3 bet, make a note of it and move on; next time, you can fold top 2 pair to his set.

2)Pay attention to the flop bet. When a decent, straightforward player raises, gets 5 calls, and then bets a decent amount into the field on an 8 3 2 flop, your nines are no good. Don't even bother to call the flop bet to 'see where you are' or any of that nonsense. Yes, you have an overpair, and yes, sometimes he will merely have a flush draw - but that doesn't mean anything. You're still a giant dog to his range and losing tons of money on the call, so just fold. (However, if you're deep stacked and have implied odds, sometimes you should take a card off with a hand like 43, even when you'd fold 99. See below.)

3)Pay attention to the flop bet, the flip side: When that same player bets big in a 6 way pot, you can assume he has at least an overpair or a big flush draw. If you have a set, calling is almost always a bad play. Why? Sometimes, an ace will hit the turn when the other guy has kings (and so on down the line); sometimes, the third flush card will hit and kill your action/hand; sometimes, you'll make a boat with the second 8 and freeze him up...and so on. Bottom line: in multiway pots, when somebody's hand is face up as a big pair, it is very rarely correct to slowplay your monster. There are only a few exceptions, such as when you're second to act and there's a couple of maniacs behind you, or when the guy is good enough to make a tough fold if you raise the flop but will commit himself on the turn.

3.5)When and how to try to crack that big pair: Mediocre players will often just raise every draw, including hands like J T, on the flop, thinking "flush draw + overcards + fold equity". Big mistake. His bet told you that he isn't folding and probably has an overpair, so why are you counting any fold equity *or* overcards as outs? More often, it's correct to just call and go for overcalls - reserving the right to semibluff raise on the turn, especially if a J or T hits. Conversely, if you have that 43 on the 832 flop I mentioned earlier and are closing the action, you should sometimes also call even when definitely behind, looking for a "brick" 3 on the turn. In HSNL against thinking opponents, you would also look for aces and fives and occasionally semibluff those cards, too. (But do *not* usually call with aces, such as A3 on an 832 flop, when facing a certain big pair - your implied odds simply don't exist.)

That generally covers "what to do if villain has what he thinks is the nuts." Next time, I'll write about a few ways to take advantage when the villain telegraphs a weaker hand.
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