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Showing posts with label wpt. Show all posts
Showing posts with label wpt. Show all posts

Friday, March 30, 2007

Leaving Low Limit

The strategy described on Low Limit Holdem Strategy and Tactics www.lowlimitholdem.com including the starting hand selections is, at its core, not a low limit strategy at all. After all, the cards don't know what limit you are playing... A 1 cent table is exactly the same as a $10,000 table in terms of the rules, the cards, the odds and so on.

The reason the site was named "Low Limit" is that at the time table conditions at live poker rooms (the kind you actually go to in person and sit down) at games in the low limit range ($1-$2 through about $9-$18) were ideal for playing lots of good multiway hands. Essentially these were loose games where many people saw the flop and then, because the pot was large from all the pre-flop callers, continued on past the flop too far with very weak hands.

Now, in 2007 at the end of an unparalleled explosion in the popularity of poker which was thanks almost entirely to the World Poker Tour and its televised final tables with hole card cameras, it is more and more difficult to find this sort of extremely loose table online at the low and "micro" limits.

One of the reasons for this is that there's been a lot of poker education and access to good general poker advice from professional poker players. There's also the fact that most new poker players severely underfund their poker playing efforts and then play an extremely tight game to try to minimize their variance.

The strange truth online is that the looseness of the tables actually increases as you raise limits from micro to low to middle limits at most cardrooms. You're more likely to find loose conditions described on our main site at a $3-$6 to $10-$20 table than you will at a $0.50-$1 to $2-4 table.

Your goal as a money winning poker player should be to increase the limit you play at. This is not just to take advantage of the looser behavior mentioned above, but also (and very importantly) to minimize the impact of rake on your winnings. At most online cardrooms $3 is the maximum rake taken so a large pot of $100 at a $3-$6 table will generate the same amount of rake as a large $400 pot at a $10-$20 table but the percentage of the pot that is actually rake is much less. To maximize your profit you must continually strive to increase the limit you play at.

Tuesday, August 31, 2004

WPT Legends of Poker

I got to watch a bit of the final day (before the final six tomorrow) action of the World Poker Tour Legends of Poker event at the Bicycle Club casino in Bell Gardens, California.

I wasn't there to play--at least not to play in the $5000 event--more as moral support for my significant other (SS) who was participating in the Ladie's Poker Party (first place would win a spot on the WPT Ladies Invitational event which is filming September 1st).

Before she went in to start her tournament we spotted Clonie Gowen and Evelyn Ng milling about and I was almost run over by Shana Hiatt and a small group moving with her (she would also be playing in the ladies event). Access to the final few tables of the WPT main event was suprisingly easy to get and I was able to watch Doyle Brunson and Jennifer Harmon play a few hands from my vantage. I didn't get to see any huge deciding pots or exciting races but I did get to see a lot of pots won without anyone ever showing a hand. Now that's good poker.

Pokerwise I did put in some obligatory time in the 3-6 holdem game and ended up a 10 big bet loser (the deciding hand was when my AA was cracked by 88 on the turn when his third 8 miraculously appeared) after three hours when SS was eliminated during the 5th blind escalation from her tournament when her all in with TT vs another player with 77 ended in tragedy when the person in question hit a 7 on the turn. She did pretty well and felt she was playing well the whole tournament and managed to eliminate Kathy Liebert with her JJ vs KL's 77.

I can definitely see the lure that the WPT has brought to poker. The air of the poker room was charged with excitement and it was pretty neat to be surrounded by celebrities (even if they are "just" poker celebrities). If you get a chance to participate in a WPT event (or even just railbird one for a little while) I highly recommend it.

Friday, July 16, 2004

Low Limit No Limit Holdem

The big online game to play right now is no limit ring games which have spawned strategy sites like http://www.flopturnriver.com/ (a good place to visit if you want to play in these games). This is an exciting game with some very good profit potential if you are a good no limit player. Of course it's not so easy to become a good no limit player!

Right now what I see online are three types of people playing this game. First are the gamblers... instead of signing up for InterCasino and playing blackjack they want to gamble against other players. You'll see them throwing money around like crazy and playing an extremely aggressive variety of no limit poker. Next we have the newbies (no offense to them at all--we all were newbies at one point) who saw no limit play on TV most likely (maybe the WSOP or WPT or even Celebrity Poker). These people of course make a lot of mistakes because there's a big difference between playing a no limit game with $1-$2 blinds and playing at the final table of the WSOP. It's not uncommon for them to make big preflop moves on very marginal hands like AJ/55 that really want to see a flop. The last group are the experienced no limit players who are feeding off the first two groups.

These are just observations. I am not a good no limit player (although I can hold my own and have won a few small tournaments). It takes a lot of skills to play no limit because the mistakes are so costly. It also has the potential to be very profitable in the short run as people flock to these tables. There is a problem, though, and that is that the skilled players beat the weak players much faster in no limit and pot limit games than in any other sort of poker. This means that the supply of money into the games will eventually dry up (as they've dried up in the past at the brick and mortar cardrooms except in some special circumstances and except for now that the game has gotten so much new blood mainly from the WPT program on the Travel Channel).

Another thing to keep in mind: Ring no limit play is much different than tournament no limit play. In ring game you're looking to get involved in one or two big pots a night. In a tournament you aren't able to do that because of escalating blinds and have to start making moves. Hands like AK which can usually be put all-in in the later stages of a tournament are preflop suicide in a ring game.

So should you play this flavor of holdem? Well you can if you can build the right skills quickly there is still time to make some money before the money dries up. And when the money does dry up you can come back to limit holdem which will remain constantly popular among poker players of all skills precisely because sometimes the bad player can make a killing.