Wednesday, September 23, 2009

Quick Update...

Ok back to business...poker update. Two days have passed and I am pretty stagnant at $39.00. I've played around 24 SNGs (Sit-N-Go: means that once the players sign up the tournament starts, usually takes no more than 2 minutes to fill all the spots in a 9 top) and I've yet to have a breakthrough. I think I am going to try a different strategy (while still sticking to my Bankroll Management). I am going to switch over from the $1.20 9 top (9 player) SNGs to the 10 player-$1.10 DoNs (double of nothing). Basically it's pretty straightforward, 10 players buy-in for $1.10, and 5 leave with $2.00 (yeah I know only 90 cents profit but, extrapolate that to 10 tables an hour that if I can consistently make 5th place or better would yield $9/hr...better than minimum wage! Within 6 hours of play I should be approaching my $100 mark which will allow me to up the stakes, talk about grinding it out though!). It shouldn't be too hard to make 5th or better in these SNGs as 1,

I already consider myself a half-decent poker player and thus should be able to beat most of the competition at these stakes and 2 I am also fairly good at maximizing my profits in the hands that I am involved in. What this translates to is that all I need to do is double up once (increase my chip count from 1500 to 3000 by whatever means necessary) and in theory I should be in the money (10 players with 1500 chips each = 15000, so 3000 chip = 1/5 of all the chips on the table). So I either have to take 1 person out and I've accomplished my mission or I can try and "steal" 200 chips from each player. So if by change I am able to get a chip count of 4500 or more than I should have no reason to play any more hands unless 1, I get dealt pocket aces and have the opportunity to win some more chips or 2, the game progresses extremely slowly, as some of these do, I notice the blinds are starting to chew me up. (Blinds are the mandatory bets that the two seats to the left of the dealer are forced to bet. What this accomplishes is that 2 people have every committed money to the pot and thus will be more likely to promote "action" or get involved. If not for the blinds than everyone would fold away all their hands until they get dealt monsters which would make for horrible poker!) Alright, time to log for now, more on my progress later. I have to try and keep this one shorter than the last!

Goal by this weekend - Break $100

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