The following principle is key to becoming a successful poker player. Without the proper money management skills, the best players in the world would go broke. For all you skim-readers, here are the basic rules of bankroll management for Texas Hold’em.

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Bankroll management is where you play at certain limits to avoid losing all of your bankroll due to bad runs of cards, which any poker player must expect from time to time. This is called ‘playing within your bankroll’. Subsequently, if you play at higher limits where there is too great a chance of losing all of your poker money, you are ‘playing out of your bankroll’.

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The reason why you should choose your limits carefully in poker is due to the variance. Variance is a term used to describe the ‘ups and downs’ of poker where you fluctuate from having bad runs of cards to good runs of cards, resulting in varying profits and losses. If you play poker for long enough there are going to be periods of time where you will consistently lose money, not because you are playing badly, but because the cards are not falling your way. This means that if you do not have enough money in your bankroll to absorb these downswings, it is likely that you will lose it all.

Therefore every time we sit down at the poker table, whether it be live or online, we want to give ourselves the best opportunity to win a maximum amount of profit whilst keeping the risk of going broke minimal. This is where the rules of bankroll management come into play.

So what limits should I be playing at?

• Cash Games
  If you are playing Pot Limit or No Limit poker, the safe recommended size of your bankroll is 20 times the full buy-in of where you want to play. This means that if you want to have the best chance of making money at a $1/$2 game where the maximum buy-in is $200, you should have a bankroll of at least $4000. Another way of applying bankroll management is by only putting a maximum 5% of your entire bankroll on the table at any one time, which works out the same as having 20 times the buy-in for the game.
• If you like to play limit Holdem however, you should have 300 Big Bets as a minimum for the limit you wish to play at. Therefore to play $1/$2 limit Holdem, you should have a bankroll of $600 at least.

• Tournament Games
  It is recommended that you have a bankroll that will give you 40 buy-ins to the level of tournaments that you wish to play at. Therefore if you want to play at the $10+$1 Sit n Go’s you should have a bankroll of $440.

So What limits should you play according to your bankroll:

Style of play and variance.

The style of your play can also determine what limits you should play in relation to the size of your bankroll. If you are a tight player then you should expect to receive a slightly reduced variance to that of a loose player, therefore you may be able to afford to reduce the amount of buy-ins in your bankroll.

This is because tight players will often only enter pots with strong hands and regularly go to showdowns with winnings hands, thus reducing the chances of seeing big losses. Consequently, if you are a loose player and play a large number of pots, you may want to increase the size of your bankroll to absorb the extra variance you may receive.

Absorbing losses and moving on.

A second reason for why you should exercise good bankroll management skills is to help you deal with the psychological impact that losses can have on your game. If you have a bankroll of 10 full buy-ins for a cash game at the $200 NL game and lose 4 buy ins, your bankroll would deplete from $2000 to $1200. Because of your small initial bankroll this looks like a big loss and may cause you to tighten up your game and play ‘scared poker’, because you are afraid to lose more money.

Now if you had 20 full buy-ins for the $1/$2 game, your bankroll would change from $4000 to $3200. Immediately you can see that visually this does not look as bad as the loss in the first instance. Therefore you will feel more comfortable that you have the ability to win back the lost money without feeling the need to change your game.

What are some of the big adjustments you generally make against good, thinking players?

Nothing in particular, but I try to stay a step ahead and figure out what their weaknesses are. I put myself in their minds and think about what they are trying to accomplish, not just in this particular hand, but overall in poker. Versus weaker players, I play a lot more straightforward, and I will play hands in a way that a good player would say, “OMG, that’s so obvious.” So really, I just try to mix it up against good players. I think sometimes guys get too creative and out of line going to war with good players. If I’m at a table in a tournament with mostly weaker players, I’m going to stay out of a good player’s way and play pretty straightforward against him because it makes no sense to get into a huge ego, five-betting war with a good player when there are idiots waiting to dump their chips. I save the higher volatility plays for cash games or a tougher tournament table.

Do you feel like that happens a lot? Good players banging heads because of ego when they don’t have to?

I think it depends. I think some good players play a really aggressive game, and they don’t adjust as much to their opposition. I generally want to play post flop with deeper stacks versus weaker players, but there are so many different styles that can have success. It’s hard for me to say it’s wrong for someone to five-bet another good player with air when they’re surrounded by idiots.

Against a table full of good players, what higher volatile plays are you talking about that you’d be happier making?

Certainly three- and four-betting light, and also calling off my chips in more marginal spots. I wouldn’t want to take a flip if I have decent chips and a table full of donks, but if everyone’s tough, I am more likely to just go with a hand and roll the dice. I don’t know, I don’t really have a defined strategy, I just kind of sit down and make decisions on the spot.

When you say you try to stay out of a good player’s way when at a table with some good and a lot of bad players, what kinds of specific things are you doing differently?

I’ll do less re-stealing. I won’t defend my blind with marginal hands versus a good player and call less in position with some hands versus a good player that I would call against the weaker players. Basically, I’m trying to reduce my variance because I know the good player isn’t going to give much away, and I want to stay as low variance as I can so that I can save my chips for confrontations with weaker players where hopefully, I’ll have a bigger edge.

In the NAPT High Roller Bounty Shootout, you were at two tables full of good players. Can you think of any hands that the concept of adjusting to thinking players applies?

Hand #1

OK, so it was at my first table. We all started with 25,000, so there was 175,000 total in play. We were three-handed at this point. I had one bounty so far, which was Andrew Robl. John Hennigan, Alex Kamberis, and Daniel Negreanu were already out. Scott Seiver had won six bounties in the morning, so if I wanted a shot at the $100,000 for most bounties, I needed to knock out both final two guys which were Phil Galfond and Lee Markholt.

So the blinds were 800-1600. It was my button, Lee was in the small blind and Phil in the big blind. Lee had about 50,000 and Phil had 35,400. I had about 90,000 and raised to 4,600 with ace-deuce offsuit. Lee folded and Phil shipped it in. I tanked and ended up calling, but it was a tough decision. He had pocket sevens and I rivered the three-out ace. But, he had been shipping it in about once every other orbit. I know he’s good enough to realize that he has just enough chips to make me fold, and I’m like 54% against some hands like king-queen and suited connected type stuff. Plus, he is really good, so I don’t mind taking a shot at knocking him out.

If I lose, I’m still tied for chip lead. I also had the extra bounty consideration ($5,000 plus a stronger shot at the $100,000 prize). I probably wouldn’t have called if he wasn’t a top player or if there were no bounties. I always have three outs minimum, which isn’t a horrible spot. So it was sort of a weird situation where I just decided to gamble for the double whammy of knocking out a tough opponent and giving myself a shot to collect some bounties. Phil and Lee were probably the two people I least wanted to see in the final three with me also, so I didn’t mind gambling.

Hand #2

We were six- or seven-handed at the final table. I opened from middle position with queen-ten offsuit. Scott Seiver defended his big blind. Honestly, I have no idea what the blinds or stacks were, but I was deep-ish, somewhere in the 50 to 100 big blinds range. The flop comes king-queen-three. He checked and I checked behind.

Sometimes I bet, but I just felt like checking and seeing what happened on the turn, which was a six. It brought a flush draw. He checked again, and I decided to bet. I had been playing too many tournaments against weaker, straightforward players, and in this spot, once they check the turn, it means I have the best hand. So of course I’m pretty sure I have the best hand, so I bet. Scott check-raises me, and I hate life. I start talking about how I can’t bet there, and I fold because the way I played my hand, I can almost never have better than second pair.

Scott is certainly good enough to pick up on that and raise me with any hand because it’s so hard for me to call, so once I bet, I honestly should probably call. It’s a move I like against weaker players where I might pick up a bet with air on the turn or trick them into calling with bottom pair or something. But, against a player like Scott, I need to either bet the flop, or check the turn. I lost what I’m supposed to lose, in that if I bet the flop I would fold to a raise or check turn behind and evaluate river. I left myself way too open against a smart player. He told me later he had aces though so that was nice, but it still was too risky. He could’ve had any hand, and I have to fold or call off all my chips.

Andrew Robl published such a great story recently:

First off, I’d like to say that I don’t think I’m a great poker player. I have been outplayed thousands of times, and some of my opponents constantly outplay me. I tilt, play in bad games, gamble too much, drink too much, and make countless other bad decisions. But I am blessed to know some great poker players. Here are traits they all share.

Experience

This is by far the most important attribute in becoming a great poker player. It is impossible to become a great poker player without putting in thousands of hours at the table and seeing millions of hands. Due to the nature of online poker, with the ability to play hundreds of hands an hour, it’s possible to get experience faster than ever before. You have to play at least 10,000 hours of poker before you have a shot at becoming a great player.

Intelligence

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At the highest levels, everyone’s experience level and knowledge of the game will be near equal. Whoever can adjust to an opponent faster and out-guess what adjustments the opponents are making will come out on top. This is sometimes referred to as “leveling.”

Desire and Willingness to Learn

No matter how much you play, you will not improve unless you actively think about what your opponents are doing. Beyond this, you also need to seek other poker strategies from players better than you are through books, training videos, coaching and discussing hands with friends.

Ability to Control Emotions

In poker, it is always important to have a logical analytical reason for what you are doing. Our emotions are not equipped to deal with probability and randomness, which are two defining elements of poker. The ability to control your emotions and make the correct logical play time after time is one of the hardest things to do in poker.

Social and Networking Skills

Having a strong poker network is key to becoming a great poker player. It will allow you to get into the best games and allow you to make friends with the strongest players who can help you further improve.

Having a “Sick” Amount of Gamble

To be a truly great player, you have to have a lot of gamble in you. You have to be willing to take on players better than you at stakes higher than you’re used to. At some point, it is the only way to improve. But be warned, it’s also a good way to go broke.

Adjusting your game to the position

Taking something that you really shouldn’t have is frowned upon in the real world. Most in a civilized society call this stealing. Using the principles that work in poker, such as deception and guile, landed the Adelphia boys in a place where striped pajamas are high fashion and strip searches are considered recreational activity. Luckily though, using your position at the poker table to steal a pot will not net you such dire consequences.

There are times when your position at the table will allow you take a pot you would not have otherwise won. Statistically speaking, it is the best hand that wins most of the time, regardless of position. So what we actually mean by “taking a pot you would not have otherwise won”, we are referring to the amount of money. Using your positional advantage at the table you can squeeze out some extra bets that may have otherwise stayed far out of your reach, in your opponents wallet.

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The last position is the place you want to be. When your turn comes in the rotation for this spot, take advantage of the opportunity. Most players live in fear of somebody raising behind them. When you are in the last position you are the guy they are looking at and praying you won’t raise. This position gives you the freedom to play more loose and aggressive. The person in last position can dictate the behavior of the table with their play.

Let’s say you have a strong hand and are in the last position. Playing a little possum won’t hurt the pot size. The folks in front of you, who are calculating their pot odds based on your raises, may fold if you look overly aggressive. You can bluff the pot odds by playing it tight and simply calling their bets for a couple rounds, thus artificially inflating the pot. They will feel safe if you pretend to be weak, and stay in the game.

Many poker players are inherently timid, and fold in the face of a challenge. If you have a weak hand, raising from the last place may scare the other folks away, even those who could have beaten you.

The last place is the power position, when you have it, enjoy it. The next round somebody will be doing to you what you hope to be doing to them.

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]]> http://en.pokerbg.net/2010/02/how-to-get-a-bonus-poker-rooms-fulltilt-cakepoker-and-many-more/feed/ 0 http://en.pokerbg.net/2010/01/texas-holdem-poker-tips-and-tricks-in-english/ http://en.pokerbg.net/2010/01/texas-holdem-poker-tips-and-tricks-in-english/#comments Tue, 26 Jan 2010 11:41:40 +0000 admin http://en.pokerbg.net/?p=50

Poker Tips

This collection of poker tips was put together by Mike Sexton (host of PartyPoker.com and commentator for the World Poker Tour), and Linda Johnson (a noted poker player and personality).

Pay attention

Watch who’s playing in an aggressive or loose way and who’s playing tight, try to play the loose players and avoid the tight players, unless you’ve got a strong hand.

Watch the chips

Always be aware of everyone’s chip count. Know who has more chips than you and play more carefully against them – a mistake could knock you out. It’s usually better to play pots with players who have fewer chips than you do.

No match

If your cards don’t match any of the community cards, throw your hand away when someone else bets.

Ace in the hand

Don’t play every time you have an ace in your hand. However, play an ace if it’s accompanied by a card of the same suit or by a 10 or higher.

Hands to stay with before the flop

Play with pairs (7-7, 9-9), two face cards (K-Q, Q-J), or hands that can make both a straight and a flush (8-9, 6-7 of the same suit). Be patient and fold other hands, unless you’re in the blind.

Good hand? Bet strong

In no-limit Texas Hold’em, players can bet all of their chips at any time, so bet aggressively when you have a good hand.

Watch and wait

Play fewer hands when you’re one of the first players to act, because you’ll be ‘out of position‘ and vulnerable to raises from the remaining players.

Wait your turn

Do not act until it is your turn; play proceeds clockwise at the poker table.

Be a ‘bettor,’ not a ‘caller’

Being aggressive is good.

Call their bluff

If someone raises in a late position (near or on the button), re-raise them a good amount if you are on the blind. Chances are, they don’t have a big hand and they’re just trying to steal your blinds. (This style of play, known as going ‘over the top’, is probably the strongest play one can make in no-limit Texas Hold’em.)

Be patient

The biggest mistake most players make is to act too quickly. When you’re making an important decision pause to think about how the betting has gone and what your opponent might have. Take your time.

How to play poker pocket pairs at texas hold’em

Is that a pair in your pocket? Or are you just pleased to see us? From deuces to pocket rockets, our former poker expert, the late Andrew NS Glazer gave us the best playing strategies for every pair in Texas hold’em.

Pocket pairs are potentially some of the most profitable hands in hold’em, but because they are so often misplayed – usually overplayed, sometimes underplayed – they don’t add as much to your day’s win or your tournament chances as they should.

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The ‘coin flip’ – a rule or a myth

Whenever you watch televised poker and you see someone with a pocket pair going up against someone with two overcards (such as Q-Q vs A-K or 7-7 vs 8-9), you almost always hear the announcers say one of two things: either the hand is a ‘coin flip,’ (meaning that it’s a 50/50 chance) or that ‘it’s roughly 11/10 in favour of the pair.’ Listen for it: it’s practically universal.

The only problem is, it’s practically universally wrong. Different pocket pairs are different sized favourites against different overcards. In fact, they aren’t always favourites. J-10 suited is a favourite over every single pair from twos through sevens, if the pair doesn’t contain one of the suited cards, and usually even if it does. You need to reach pocket eights before the pair becomes the favourite, and that’s by a tiny amount.

On the other hand, if you take your pocket sevens – or even your pocket deuces, for that matter – up against A-K, you’re the favourite. Can you guess why the J-10 hands do so well?

To hit one (or more) of the overcards

For example, Q-Q vs A-K, and the final board is 5-K-7-J-2.

To make a straight

(A single card from a pair can also help make a straight, but two connected cards stand a much …
better chance). For example, 7-7 vs J-10, with the final board coming 8-9-Q-7-2 (notice that even making a set of 7s on the turn didn’t save the pocket pair).

To make a flush (very similar to the straight analysis)

For example, 8h-8h vs Qs-Js with the final board coming 10s-9s-Ah-3h-8s. Notice the same river card ….that gave the eights their ‘lucky’ set also created the flush: remember such

possibilities when calculating ‘outs’ (winning cards).

To get counterfeited – one of the biggest problems with tiddly pairs

For example, 3-3 vs A-9, and the final board comes 5-5-6-10-6. The owner of the 3s must play the board, while the opponent can use his Ace. Any time you own a small pair and a larger

pair flops, be careful.

Because J-10 makes more high straights than any other hand, if you owned a pair of fours, you would actually much prefer to be up against the powerful looking A-K, which makes far

fewer straights, than against J-10.
If you own Q-Q and are up against A-K, you are in the single most favourable ‘pair vs overcards’ situation. Express it however you like: 4:3, or 1.33-1, or a 57.2%; no matter which way you describe it, you are quite far away from coin flip territory.

You own this significant edge because your two queens reduce the A-K’s chances of winning with a straight. A-K’s owner will need a queen to hit the board to make a straight, and you have two of them tucked safely away. Don’t get too excited by this information, though. Many players, upon learning that J-10 makes more straights than any other hand start to rank J-10 far too highly.

Smaller pairs

I split pocket pairs into several distinct value groups. Let’s start at the bottom and work our way up:

Small pairs (2-2, 3-3, 4-4, and 5-5)

Although these hands stand a reasonable chance of winning a heads-up confrontation against overcards, they have several major vulnerabilities. In a game where three or more players see the flop, they usually need to make a set to win. Small pairs are also the most vulnerable to getting counterfeited. The good news is that their unimproved post-flop weakness is so obvious that even bad players are usually willing to throw them away, something that can’t always be said of?

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Middle pairs (6-6, 7-7, and 8-8)

For the most part, these hands play like small pairs. The biggest difference is that they don’t get counterfeited nearly as often, and occasionally in heads-up confrontations, you will find yourself facing only one overcard instead of two. Otherwise, these hands can be more troublesome than small pairs, especially if the board comes low – 10-4-2, for instance. A player holding pocket 8s will often think ‘only one overcard hit, I might be leading,’ and bet aggressively, not realising he is up against someone who has that one overcard or someone who is tentatively calling with a hand like 9-9. Normally, unless you flop a set or a good straight draw (that is, the board is 4-5-6 and you have 7-7), you should get out.

Danger pairs (9-9, 10-10)

Much like middle pairs, but occasionally will hold up against an opponent who has hit part of his hand (like someone playing A-8 suited who hits the 8). Should be played like middle pairs, but you will very rarely get counterfeited. I call them danger pairs because players tend to push them too hard.

Royal couples

J-J:

The single trickiest hand in no-limit. It wins just enough without improvement to give its owner confidence, yet is extremely vulnerable in multi-way situations. If you are facing all three overcards, you are a significant underdog. Just how big varies: you’re far better off being up against A-K and K-Q (winning about 43%) than against A-K and Q-10 (winning about 37%), because of the lack of duplication. One trick to avoid getting into trouble with J-J is to pretend it’s 8-8. You’ll only play it hard in favourable post-flop situations, and won’t try to beat the world with it, pre-flop.

Q-Q:

The third best starting hand in hold’em should be played aggressively. The problem in low-limit games is you won’t just be up against one player holding A-K: You’ll be up against K-10 here and A-9 there, and that’s much less favourable than facing a solitary A-K. In no-limit, what sort of hands will you face heavy action with? Bluffs, the occasional person overplaying a smaller pair or A-Q, A-K. . . and K-K or A-A, where you’re a 9/2 underdog. It’s often best to make a significant but not full-commitment raise and wait to see if the flop contains an Ace or King. If you’re in a tournament, and someone raises up front, someone else moves in on him, and someone else calls the all-in bet, unless at least one of the all-in players was short stacked, your Queens belong in the muck. Ditto for any situation where someone seems unafraid of multiple opponents.

K-K:

‘Cowboys’ are a terrific hand and worth playing quite strongly. They do belong a full level below Aces, though, because even some rookie playing A-3 has a 30% chance to beat you with his overcard. In a low-limit, multi-way pot, if an Ace flops, your Kings are essentially doomed; only in high-limit games where players will throw hands like A-9 away do you have a chance, and even then, it’s probably worth not bothering until you’re an advanced player. Try to avoid going on tilt when the Kings get beaten, because players hold singleton Aces a lot and 30% chances aren’t insignificant.

Aces in the hole

A-A:

‘Pocket rockets’ are much better than Kings because you can’t be facing an overcard. One key in playing Aces correctly lies in knowing when to get away from them. In low-limit, multi-way games, you should figure that two red aces are toast when the flop comes 9s-10s-Js; in other words, beware extremely coordinated flops. Don’t get stubborn. A lot of no-limit players like to limp with Aces, hoping that someone else will raise, and then they can re-raise. This is dangerous. If five people wind up limping, you have no idea where you are after the flop. You raise a lot with other hands and get re-raised; why not raise with this one, and hope you get re-raised here? If everyone folds and you just win the blinds, that’s unfortunate, but not as unfortunate as losing your whole stack because you let someone in too cheaply and only bet heavily once his hand became well defined.

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