Saturday, March 29, 2008

Lesson From A Pro

In my last tip, I talked about the necessity of loosening up your pre-flop game, especially in the late stages of a tournament. This week, I’m going to provide you with some more specific examples of the kinds of hands you may want to play when you’re under the gun or on the button, and the ways you may want to play them as you get closer to the money.

For each example, I want you to assume that antes have come into play, which makes stealing the blinds not only more profitable, but also more of a necessity if you want to maintain a playable stack. If you're not willing to raise with anything but “premium” hands at this point in a tournament, you’ll find your stack becoming noticeably shorter with each hand and orbit of the table.

With that in mind, let's say I'm under the gun; I’m going to be raising pre-flop with almost every pair, depending on how aggressive I think my opponents are. I’ll also play suited Aces all the way down to A-8 and unsuited Aces all the way down to A-10. I’m also likely to play any two suited cards that are 8-9 or better. As far as off-suit hands go, K-Q or K-J are probably the worst hands I’ll consider; I’ll play both of these hands from under the gun when there are antes, but I won’t play K-J from this position when there are no antes.

By the same token, I’ll play a lot looser when I’m on the button and it’s folded to me: any Ace, any King, any suited Queen, basically any two suited cards 4 or higher, and usually any two unsuited cards that are 8 or higher. This puts 59% of the hands into play, which are just about how many you should play in that spot.

Of course, you’ll need to adjust your starting hands based on the make-up of the table. If you’re seated with a loose-aggressive player, you’re going to play fewer hands because they’ll call or re-raise you a lot more often than more passive opponents. On the other hand, if the table’s playing tight, the player in the Big Blind is playing tight, or you’re on the bubble, it’s a great opportunity to open up your game and steal more often. This is especially true if you’ve got a huge stack and everyone else is just looking to survive.

Remember, this is a baseline strategy - deviate from it based on your opponents, the stage of the tournament, who is in each blind, and your position. What do you do when you’re facing a pre-flop raise? Think about how you would play in your opponent’s spot and that should give you an idea of what cards they might be holding. If you don’t know anything about your opponent, assume that he’s varying his strategy based on his position; playing tight under the gun and raising with less than 10 percent of his hands (tighter than I recommend) and looser on the button, raising with about half of his hands.

For example, say your opponent raises under the gun and you’re next to act, holding A-10o. You’ve got to respect the raise from under the gun because your opponent is probably only playing about a third of the hands he’d play from the button. Not only that, but the rest of the table is still left to act and any one of these players could easily have a big hand with which they’ll call or re-raise. Since you’re clearly out of position here, you need to lay your hand down and look for a better spot.

If you do call with A-10o in this situation and everyone else folds, you’re probably going to be a 45 percent underdog to any of the hands that your opponent should have been raising with from under the gun. Even in this “ideal” situation, you’re still risking chips when you don’t have to.

If you’re holding A-10o in the Big Blind when someone raises from under the gun, that’s a different story altogether. You’ve already got money in the pot and you’ve seen who’s still in the hand. Similarly, if your opponent raises on the button and you’re in one of the blinds with A-10o, your hand is actually the favorite because he’s likely raising with any Ace in that spot.

There are also some players who don’t take their position into account before they decide to play a hand – they just play with Aces through Jacks and AK no matter where they are at the table. You need to tighten up against these players as you know they’re only putting their chips in the pot with big hands.

All of this is just a framework for playing on the button and from under the gun. Use it to help figure out which hands you should play in these spots and which hands you should be playing when your opponents are in these spots.

Thursday, March 27, 2008

Roy Rounder TIPS

Implied Odds, Hitting Trips, And Being Chip Leader

*** QUESTION FROM A READER ***

Roy,

Great article.

I had one question to you. Wouldn't you advise calling with
all pairs even with when facing a raise?

I play 25 NL on Party and I will call a raise with any pair
as long as the raise is less than 10% of the opposing
players stack. My thinking, with a monster hand like AA or
KK that he is raising; when I do hit my set I am taking his
whole stack.

So I hit my set statistically 1 in 8 times and call any
raise with any pair as long as its 10% or less of a players
stack. I make most of my money on the no limit tables doing
this.

My basic strategy is to raise the same with every hand as to
not giveaway my hand.

AA, KK - raise 8 times the big blind (which is $2 on a 25NL
table) and if someone has raised before me I usually put
them to the test and reraise 3 times the amount they have
put in or go all in.

AK, AQ - I raise 8 times the big blind if no one has raised
in front of me. If someone has limped or no one has entered
the pot I will raise 8 times the big blind. If the pot has
been raised before me, I will only call if I have a decent
read on the player.

QQ, JJ - I raise 8 times the big blind if no one has raised
in front of me. If someone has limped or no one has entered
the pot I will raise 8 times the big blind. If the pot has
been raised before me, I will call and play cautiously post
flop if I don't flop trips or my pocket pair is not the
higher than the board.

AJ - This hand has gotten me in trouble. I usually limp in
or call the big blind. I throw away to any raise before me
and usually fold it if a raise comes behind me.

1010, 99, 88, 77, 66, 55, 44, 33, 22 - call the big blind.
maybe raise 1010 and 99 in late position if no one has
entered the pot. I will call a raise up 10% of the raising
players stack. Post flop I know where I stand if I hit my
set or not, or my pocket pair is above what the board shows.

I usually move tables quickly after I double my stack up,
because most players will learn how you play and its hard to
get action on raises after they learn you play real hands
and push with them.

- S.

>>> MY COMMENTS:

Wow. What great insights.

You've hit on some KILLER strategies here that can be
instantly implemented to win more money at online poker.

First of all, I noticed that you said, "My basic strategy is
to raise the same with every hand as to not giveaway my
hand."

This is brilliant. I often employ this technique myself,
because it keeps your opponents COMPLETELY off-balance...
guessing at what you're holding.

You also brought up a great point about the value of hitting
trips when you wrote, "When I do hit my set I am taking his
whole stack."

This concept can be taken FURTHER...

In online poker, IMPLIED ODDS are a more important
consideration than in offline poker. The reason is because
of the common LOOSE-AGGRESSIVE style of play...

When you make a significant bet, your chances of getting
action are much higher than in your average home game or
casino.

That's why I like to limp-in with suited connectors...
because if I hit my flush or straight I'm CONFIDENT that I'm
going to win a huge pot from someone.

The key is to NOT "chase" your outs. Don't stay in a hand
and call all way down to the river with your draws... it's
not worth it. Bet the draw upfront, and if you get raised
just muck it.

As for your question regarding pairs...

It sounds to me like you're playing RING GAMES and not Sit
and Go's. When I play a low-stakes ring game, my strategy is
about the same as yours.

The biggest difference for me is that I hate getting up and
moving tables so frequently. I've found that when players
begin losing money to you, they often WON'T STOP. They'll
just keep losing money... DETERMINED to beat you.

And of course, that's when you get the WINDFALL of profits
from them... since they're on tilt and OUTRAGED that they
can't seem to break you.

What I'll do is show an occasional bluff... or even get
busted on a bluff... that way they remain confused about my
style of play.

Remember: No limit Texas Holdem is PSYCHOLOGICAL WARFARE. As
soon as you find a "fish" you can consistently beat, don't
leave! Just keep playing until THEY decide enough is enough.

OK, back to pairs. When I'm in a ring game, I will call
small raises with pocket pairs, in hopes of busting my
opponents.

But in Sit and Go's I'm more cautious. And the reason is
simple...

In RING GAMES, I'll often play the "odds". Yes, there's a 1
in 8 chance that I'll make my trips. And so I'll play my
pairs and take down huge pots when I hit.

But in SIT And GO'S I can't always afford to put my chips
into the middle. Remember, there's only ONE MAIN STRATEGY
for Sit and Go's:

SURVIVAL.

If you don't make it to the top three players in a 10-man
Sit and Go, you're not in the money, which means you've
FAILED.

And in your average Sit and Go, you'll probably only get a
pocket pair once or twice (or maybe a few times if you're
lucky) before the field gets down to three players.

So what I've found is that it's often better for me to
LIMP-IN with my pocket pair and hope for trips. If someone
makes a decent raise, I'll usually muck it unless I'm the
chip leader.

Thanks for your comments man... and keep up the good work.

*** SUCCESS STORY ***

Hi Roy...

I had been receiving e-tips from you after visiting your
website, but was reluctant to buy your book because I had
never heard of you. I bought some books by Sklansky and Ed
Miller... they gave me some good foundations, but Sklansky's
book is very complicated and rigid.

I decided to buy your book after reading of your offer
regarding Tournament Tactics as those are the games that I
play and was looking for some help in the Multi-table
tournaments.

I purchased your book tonight and am glad that I did, many
of the questions that had been dangling in my mind were
answered in your book, especially regarding pocket pairs and
playing the Group 1 hands, Ace and under hands and "Watching
the Gun".

Great insights!

There are so many areas that you touched on that helped
clarify situations for me, that had been troubling me and I
am anxiously ready to play in some tournaments tonight.

Thanks again for sharing your experiences and thoughts, it
was a great help to me. I look forward to reading your
Tournament Tactics book.

- T.R.
Louisville, Ky

>>> MY COMMENTS:

Thanks for your feedback man, I appreciate it.

Good luck in those multi-table games...

*** QUESTION FROM A READER ***

First of all.....the tips that you send are very
informational, very helpful, and enjoyable to read. But
here's my question....assuming that you send these free tips
to probably a vast majority of players who currently hold an
account at any given online poker site......how beneficial
is it to follow these tips provided that nearly 75-80% of
the people I am playing against on the computer have read
the same damn e-mail that I just read??? 

Help me understand that.

I mean, how can I gain an advantage if 7-8 out of the 10
players that I am against at a sit n go are trying to employ
the same betting styles as I am due to a "mass email" that
they also received in their inbox.....how do you play
against that?

- M.R.

>>> MY COMMENTS:

Hahaha... Well, GOOD QUESTION!

The truth is, there are MILLIONS Of people who play online
poker...

I recently heard a statistic that for any given day, more
people in the United States play online poker than play
GOLF!

That's insane.

All I can say is that I WISH 70-80% of the players you face
were reading my emails... because if that were the case, I'd
be a very rich man.

My newsletters aren't "mass emails". They're only sent to
those people who subscribed at my website and gave me their
email addresses. A more likely statistic is that .0001% of
the players you're up against have read my newsletters...

...Which puts you at a HUGE ADVANTAGE.

But I'll tell you what... don't take my word for it.

Go out and implement my tactics and strategies in YOUR NEXT
POKER GAME.

If they help you win more money, great. I've done my job.

If not, then just go to the very end of this email and click
the "unsubscribe" link... and you'll never hear from me
again. Ever.

Of course, your opponents will be glad you did!

Lol.

*** QUESTION FROM A READER ***

Hi Roy - Thanks very much for your new guide "Tournament
Tactics". I put your tactics in to practice that very
evening, entering my first "Sit & Go". Guess what - I came
Second!

At my second Sit & Go tournament I also finished second.
Thank you so much. I really can't praise your books highly
enough.

Thanks again.

Also, a question for you.

In a Sit & Go tournament, having made it to the final 3, I
find I'm usually bullied over the blinds. Maybe I'm too
conservative with the hands I'm prepared to play. Can you
make any suggestions on how I might make it to first place?
Thanks.

Thanks very much.

- Lisa D.
Sandhurst, UK

>>> MY COMMENTS:

Lisa, congratulations on your money finishes for YOUR VERY
FIRST Sit and Go's...

That's fantastic.

To answer your question about getting bullied:

The key for Sit and Go's is to PLAY FOR FIRST after you get
to the top three.

If you've used my strategies for MAKING it into the final
three, chances are your opponents will view you as a
relatively tight player...

You must immediately "shift" into super-aggressive mode.
Your goal should be to win the blinds as much as possible by
PLAYING YOUR POSITIONING and READING YOUR OPPONENTS.

Don't let your opponents see a cheap flop. Make them pay for
it.

If you get a pocket pair, two face cards, or an Ace, you can
pretty much assume you have the best hand. It won't always
be the case, of course, but with the blinds so high, you
must assume.

Don't patiently wait for good hands once you've made the
money...

Instead...

Come out of the gates like a RAGING BULL and make your
opponents PAY.

You'll steal some quick pots early, your opponents will go
on tilt, and then you'll get all-in action for your real
hands.

Try that out and keep up the good work.

*** SUCCESS STORY ***

Roy, just wanted to let you know that I've been reading your
letters for about 4 months, and bought your online book
about 6 weeks ago. I put all the principles into play, and
slowly began building my winnings with online 25/50 cent no
limit games. I actually started improving so fast that I
jumped up to the 2/4 games in a matter of weeks and made
enough to cover a trip out to Vegas while the WSOP was going
on.

I never made over to the Rio to watch because i was too busy
raking it in where we were staying at the Mirage. Since I've
been back, I've been having a hard time getting any of my
friends to actually invite me over (as the first time I did
I walked with EVERYONE's money).

That's it, just wanted to say thanks, keep up the good work,
and good luck to you too.   

- S.

>>> MY COMMENTS:

Yes... The side cash games in Vegas WERE pretty nice,
weren't they?

Glad to hear about your success. Keep it up.

*** QUESTION FROM A READER ***

Hi Roy

Many thanks for your book, one of the best buys I have ever
made, doing great in STT's and low limit NL/TH. (Will be
moving up soon)

But could you give some advice on tournament play, would
appreciate some advice.

I do ok, often hitting the money but have always managed to
fall short of winning a tournament:

- 2nd 8 times.

- 3rd 15 times

- placed about 60 times

Would like some advice on Starting hands early mid and late
play. Any help and thoughts would be greatly appreciated...

Many thanks in advance

By the way congratulations on that good finish in the WSOP
well done

- J.W.

>>> MY COMMENTS:

You wrote that you need help on STARTING HANDS... but what
it sounds like to me is that you need to re-adjust your
FINAL TABLE strategies.

Getting second and third place so often means it would be a
good idea to go practice some heads-up and short-handed
games.

Call up a buddy and play heads-up poker with him for five or
ten bucks a game... and play OVER and OVER and OVER and OVER
again.

Try out different blinds structures, change tempos, and get
comfortable with heads-up action.

If you find yourself short-stacked every time you make it to
the money, try out different strategies for your
MIDDLE-STAGE play...

In a tournament, right before players make it to the money,
everyone TIGHTENS UP.

So here's what you should do:

THE OPPOSITE.

Push the action and take control. Try to steal some pots and
get some momentum going... that way you have chips to play
with later.

Keep working at it. You're getting close.

*** QUESTION FROM A READER ***

Roy... you wrote:

"Like I said, you've got to risk ALL your chips.

Now if you go all-in and one of those players makes a CALL,
you'll win four out of five times.

So if you get five big hands a game, you only lose ONCE. Of
course, that one you lose USUALLY won't wipe you out,
because you'll have more chips from the OTHER big hands."

But whenever you go " All In " you are risking all your
chips at that point. in other words..if you win 4 All In
bets....and then lose that FIFTH All In bet, are you then
Busted.. No money??

even though, you won 4 out of 5

thanks for your insight

- J.B.

>>> MY COMMENTS:

Let me clarify what I meant...

When you go all-in early in a tournament and WIN, you
double-up.

And after winning a few of these "all-in" matches, you'll
have a nice-sized stack in front of you.

So let's say you started with 1,000 in chips...

Then doubled-up to 2,000...

Then took out a player who only had 500, which put you at
2,500...

Then LOST to a player who had 1,000...

Now you're left with 1,500 in chips.

My advice is to TAKE ADVANTAGE of the loose-aggressive
nature of online poker and push your stack in when the odds
are way in your favor.

When that happens, you will STILL lose some matches due to
"unlucky" cards.

There's nothing you can do about that.

But the chances are you'll have a BIGGER STACK than your
opponents... and the occasional lost match won't break you.

Remember, if you want to win at poker, you need both the
high-level "big picture" strategies... AND the
detail-oriented "techniques" for specific pots and players.

You need a GAME PLAN... like how to shift gears for
different stages of the game, how to manage your chip stack,
and how to control your table image.

But you also need the DETAILS... stuff like how to calculate
the pot odds, how to spot a bluff, and how to set up a trap
play at the right time.

Think of it like a puzzle...

Tuesday, March 25, 2008

Bankroll Management

This is from a site called sitandgotraining.com.

Problem 1: Playing beyond your means.
Problem 2: Moving up too quickly.
Problem 3: Going on Tilt / Bad Luck.

Now I will outline the bankroll rules that I strictly follow to address these problems.

THE BANKROLL RULES

Rule 1: Deposit a maximum of $50 per month.

To start building your bankroll you must first develop respect for your money. The best way to create respect for your money is to apply a penalty for losing your initial deposit. Do this by limiting the frequency of your deposits. Start with a deposit of $50 and only allow yourself to redeposit once per month. If you lose your deposit, move to the play money tables until the next month. However, by applying Solution 2 in addition to the playing strategies I will teach you in the lessons to come, you might never need to deposit money again!

Rule 2: Apply the 5% and 25x rules.

The 5% rule is simply this: do not commit more than 5% of your bankroll to any one sit 'n go buy-in. By limiting your buy-in to 5% of your bankroll, you will limit your losses for any one event. In addition, as you build your bankroll, this rule will allow you to move up in stakes. However, if you begin to lose money at the higher stakes, the 5% rule will also "force" you to move back down. The one exception to this rule--you can always play at the $2 level, regardless of your bankroll. In addition, do not move up to the next level until your bankroll is at least 25x the buy-in. By using the 25x guideline you will give yourself a few shots at winning at the next level before the 5% rule forces you to move back down.

For example, if your initial deposit is $50, you should start by playing the $2 sit 'n go tournaments. Stay at the $2 level until you grow your bankroll to 25x the next level buy-in. So if the next buy-in is $5, do not move to the $5 level until you have grown your bankroll to $125. I realize that 5% of $125 is more than the $5 entry fee; you want to give yourself a little buffer to start winning at the next level. However, if you have problems winning at the new level, you must apply the 5% rule and drop down to a lower level if your bankroll drops below $100. By applying the 5% and 25x rules you will ensure you are always playing at a level appropriate for your bankroll.

Important Note: The 25x rule works great when you are starting out at the lower limits. However, once you build you bankroll and start playing at higher limits, say $20 and above, or start playing multiple tables, I recommend a larger bankroll to protect against downswings. Consider staying at the $20 level until you have 50x the next buy-in.

Rule 3: If you lose 3 times, quite for the day.

To avoid going on tilt due to bad beats or a run of bad cards, the solution is simple--stop playing! If you lose 3 times in a row, quit for the day. By quitting, you will stop the trend (at least for that day!). The next day when you start playing again, your frustration will have lifted and you can approach the game with a clear mind. By applying the strategies outlined in the following lessons, it will be unusual that you will experience this issue two days in a row. But if that does happen, you might want to take a few days away from the game. Going on tilt can destroy your bankroll. It is better to sit out for a few days than to give back the profit that you have so carefully earned.

Rule 4: Withdraw 10% Per Week

Once you build your bankroll go over $1500, it is time to start rewarding yourself for your efforts. I strongly recommend that you withdraw 10% of your total bankroll every week. That might seem like a lot but it only represents two buy-ins (if you are following the rules above!). Withdrawing money does two things. First, it protects the money (you can't lose what isn't in your online account). But more importantly, it rewards you for your hard work.

CONCLUSION

As I mentioned in my introduction, I went broke numerous times trying to learn the game. As I look back on my failures, each time can be attributed to breaking one or more of the rules outlined above. However, I have not gone broke since I adopted the rules. Obviously I can not force you to apply these rules--I can only encourage you to adopt and apply them to your bankroll. Here they are again:

Deposit a maximum of $50 per month.
Apply the 5% and 25x rules (50x at higher stakes).
If you lose 3 times, quit for the day.
Withdraw 10% per week.

Although critical, there is more to building a successful bankroll than effective bankroll management. You must also learn and apply the strategies that will set you up to WIN. I will begin outlining the strategies in the next lesson.

Saturday, March 22, 2008

Loosening Up Before the Flop – Part 1

143

Loosening Up Before the Flop – Part 1

Andy Bloch

March 20th, 2008

Knowing what to do and when to do it is what separates those who just play in tournaments from those who make final tables. This is especially true in No-Limit Hold ‘em, where the first decisions you’re faced with are what hands you should play and when you should play them. As the blinds get bigger and antes come in to play, these decisions become even more crucial. In these situations, one of the most critical errors that people make is not varying their pre-flop strategy enough.

While many pros advocate playing a tight, aggressive game and the importance of choosing “premium” starting hands, I find that there are many newer players who take this advice too far and simply don’t play enough hands. I recently talked with a newer pro who told me he was playing less than 10 percent of his hands pre-flop. This just isn’t enough – I don’t even play this tight under the gun. If you’re playing this tight, you’ve got to loosen up considerably, especially in late position and in the later stages of a tournament.

Let me give you an idea of what I’m talking about. As a general strategy, I want to play about 40 percent to 45 percent of my hands from the button before antes come into play. Under the gun with eight players left to act behind me, I’ll play about 14% of my hands. This percentage goes up gradually as my position advances around the table until I’m playing about 31 percent of my hands from the cut-off.

When antes come into play, I’ll raise about 59% of the time I’m on the button. On the other hand, I’m only going to raise about 18% of the time when I’m under the gun. With or without antes, it’s important to note that I’m raising about three times as often from the button as I do from under the gun. That may seem like a lot, but that’s how much you need to vary your play before the flop.

To give a specific example, let’s say you’re at the 100/200 level, and you raise three big blinds from the button. You’re risking 600 to win 300, which isn’t ideal. But if you’re making the same raise when there’s a 25 ante per person, then the same pot’s up to 500, which means you stand to pickup another 200. Those extra chips make it worthwhile for you to loosen up and raise more often with a wider range of hands, especially when you’re in the cut-off or on the button. If you’re successful with this play even a little over half the time, you’ve got an edge raising with almost anything.

You may have noticed that I’m giving some very specific percentages in this article. These are based on thousands of hands that I’ve played and tracked over the years, and a ranking system that I’ve been able to create that helps me determine which hands I should play and raise from different positions. You can create a similar chart for yourself or find a copy of mine in the Full Tilt Poker Tournament Strategy Guide. Use this information to help fine-tune your pre-flop hand selection and see how loosening up your game can help you thrive in the later stages of a tournament.