Friday, August 15, 2008

Sit-and-go tips

There can be few things in poker as annoying as busting out late in a sit-and-go

In the last two installments I’ve talked about the early and mid-game stages of a sit-and-go. Here I’ll take a look at the endgame of a sit-and-go, where you’re looking to get into the money.
Knowing how to play late-game strategy correctly is a must if you want to do well in sit-and-gos. In the late game there can be anywhere between two and nine players left, but usually there will be four to six. However, what determines when you reach the late game is the size of the big blind. A good rule of thumb is that when the big blind represents one-tenth of your starting stack you’ve reached the endgame. At this point you’ll need to change your strategy to one of all-in or fold to maximize your chances.

Pump it or dump it

Typically the average stack is around 10-15 big blinds in the late game, and once you drop below 15 big blinds your best option is to raise all-in or fold pre-flop. Broadly speaking the all- in zone can be divided into three areas.

10-15 big blinds

This stack size is a ‘no man’s land’ between the ideal amount for pushing all-in and the point at which you can comfortably afford to make a normal-sized raise. You should generally play few hands and move all- in with them when you do.

5-10 big blinds

This is the ideal-sized stack for moving all-in with as you still have enough chips to put opponents under pressure. This stack allows you to shove with a wider range and, in many spots, pick up pots uncontested.

0-5 big blinds

You must simply look for the best situation to move your remaining chips all-in based on your hand, your stack sizes, the player in the big blind, the other stacks at the table, and how many hands you have before the big blind will hit you.

Playable hands in the late game

Trying to determine exactly when a hand is worth shoving can be difficult, so here are some basic guidelines.

A-A – Q-Q

For 15 big blinds or less you “ You should almost always be prepared to move all-in or call a single all-in with A-K or A-Q in the late game” should never fold Aces and Kings to players who have already moved all-in, and the circumstances would need to be exceptional for you to consider folding Queens.

J-J – 10-10

Again, you can raise all-in with these hands for 15 big blinds or less in almost all situations and call an all-in with them most of the time.

7-7 – 9-9

Mid pairs are still strong hands for moving all-in with, and benefit from the fact that you won’t have to worry about how to play them post-flop. They are harder hands to call all-in with as you will often be flipping a coin or behind, but you should still usually play against a single player when they have moved all-in.

6-6 – 2-2

Small pairs are good hands to move all-in with in late position when you have 15 big blinds or less, in middle position with 10 big blinds or less, or when you’re short stacked with six big blinds or less in any position. You should not usually call an all-in with these hands unless you’re in the big blind and are getting better than 2/1 pot odds.

A-K – A-Q

You should almost always be prepared to move all-in or call a single all-in with A-K or A-Q in the late game, as it is a powerhouse hand and will usually be dominating a weaker Ace or in a race against a lower pair.

A-J – A-10

These are strong hands to move all-in with in most situations unless you’re in very early position at a very loose table with a stack of close to 15 big blinds; in that spot A-10 may be marginal. However, you should be more cautious about calling all-ins with them when the effective stacks are 10 big blinds or more, and your opponent is very tight or has shoved from early position.

A-9o – A-2s

When moving all-in a suited ‘rag’ Ace has only fractionally more value to it than if it is offsuit (for example, A-9s has similar value to A-10o) and so should be considered in one category. They are good hands to move all-in with for 15 big blinds or less in late position, 10 big blinds or less in mid position, or in any position when you have six big blinds or less. However, playing them in other situations is not advisable as you’ll often be called by bigger Aces or high pairs and be dominated.

Broadway hands (K-10+, Q-10+, J-10+)

These are strong all-in hands (suited or not) when you’re in late position with 15 big blinds or less, in mid position with 10 big blinds or less, or in any position with six big blinds or less, as they’re less likely to be dominated when called than small pairs or weak Aces. Because they’re rarely ahead of an all-in player’s range, however, they should not be called with unless you’re in the big blind and getting excellent pot odds, or up against a very loose-aggressive small blind that you have easily covered.

Suited connectors

These hands play well against all-in calling ranges (8-7s, for example, is only a 60/40 underdog against A-K) and can be moved all-in with when you have five to 10 big blinds in late position. However, they should not usually be played when your stack is lower than five big blinds as you will have little fold equity and will often get called by high-card hands.

Trash hands

When you’re in very late position with a stack of five to 10 big blinds you may also want to move all-in with some hands that are slightly weaker, like rag Kings or unsuited connectors. If you’re in the small blind and everyone has folded around, you can push with a wide range of hands if you have this stack size and the big blind is relatively tight. This is because he will not be able to call with many hands and you’re not risking much to win the blinds, plus you will still have some equity even if called.

High blind limping

While you might be employing a push/fold strategy, that doesn’t mean everyone is. It’s quite common to find one player who is high blind limping (HBL) late in a sit-and-go. These HBLs can be divided into two categories: those who limp on the small blind when it is folded around to them, and those who will open-limp elsewhere. These two types can then be divided again between players who are habitual limpers due to inexperience and those who use the tactic more intelligently to trap with big hands.

Limping, of course, is not generally recommended, but there are some circumstances where it might be acceptable, such as in the small blind against a passive player in the big blind. Here you’ll be getting 3/1 pot odds to call and see the flop, assuming the big blind checks, which may be more profitable than risking a costly all-in with a marginal but playable hand.

Limping in the small blind is also acceptable with very strong hands like big pairs against over-aggressive players who will often try to punish you by raising from the big blind, since you will only have to catch them with a monster hand occasionally to show a profit.

Adjusting to antes

I’ve previously talked about the all-in zone, as measured by number of big blinds, but on sites where antes are introduced as the blinds increase, it’s important that you include the dead money they create in calculations you make about pushing ranges. For example, in a game where the blinds are 100/200/a25 and six players remain, there are 450 chips in the pot rather than the 300 that would be in if no antes were in place, increasing the amount in the middle by 50 percent.
For this reason, when considering an all-in shove in a game with antes, it is much more correct to think of them as increasing the size of the blinds and reducing the average stack. In the situation above, a player in late position with 1800 chips would do far better to push with a range that assumes the blinds are 150/300 with no antes, and that he has six big blinds remaining.

In the money

When talking about standard nine and 10-handed sit-and-gos with a payout structure of 50/30/20 the ‘in the money’ stage is reached when three players are left and the bubble has ‘burst’. It is important to notice that 60 percent of the prize money is now allocated since each player is already guaranteed 20 percent. In effect, therefore, a new tournament has begun among the remaining three players for the remaining 40 percent of the prize pool, with first getting an additional 30 percent, second an additional 10 percent and third nothing.

With this huge weighting towards finishing first, you should usually play more aggressively and aim for the win when three-handed, unless there is some compelling reason to try and secure second-place money first, such as being against one very large stack and one micro-stack which will soon face elimination.

The blinds will usually be very high relative to the stack sizes, which means that players must re-evaluate their all-in strategy at this stage and push with a much tighter range of hands since they will be more frequently called, not least because players now have the safety net of having locked up a profit.

Heads-up play

By the time heads-up play has been reached the average stack size will often be less than 15 big blinds and you won’t have much room to manoeuvre. For this reason it’s important to make swift decisions about how you approach the match based on your opponent and the depth of stacks.

Against a weak player and with deeper stacks you should apply a small-ball strategy that consists of limping or making small raises and playing post-flop, but with shorter stacks and against tougher opponents you should use an all-in or fold strategy with a wide range of hands.

Thursday, August 14, 2008

WPT Stock is less than $1.00

wtp
When the World Poker Tour first started, CEO and President Steve Lipscomb knew they would not make money right away - first they had to get the name out, get people to fall in love with their format, and then the profits would come. He was right, but now the reverse is happening. It’s a publicly traded company, and the recent announcement that the WPT has lost money this year hit the investors hard, and the value of the WPT stock dropped more than twenty percent as confidence dropped. The stock has hit its lowest point, trading at 70 cents a share.

Excalibur To Kill Its Poker Room

Soon the Excalibur, the medieval themed casino on the Las Vegas strip, will take a step into the future by replacing all the human dealers in their poker room with computers. The poker room, closed as of Monday the 18th, will reopen on August 22nd with a dozen PokerPro tables in place. The tables, made by PokerTek, handle the dealing, shuffling, chip collecting and dispensing of cash duties, leaving the players at their touch screens only needing to worry about their poker game. These tables can double the number of hands dealt in an hour by eliminating the chips and cards.

Tuesday, August 5, 2008

Steve Wynn gets "BITCH SLAPPED" by prostitute at Wynn Las Vegas

Steve Wynn Steve Wynn was reportedly assaulted on his own casino property last Friday. Wynn was in the parking area of Wynn Las Vegas, when he was approached by an alleged prostitute. Wynn held onto her and directed her to the doorman, then called for security. That's when she began squirming. Then the woman's apparent sister (also a prostitute) appeared and slapped the casino CEO in the face.
The Review-Journal reports that the sister duo (Sarah and Maria Cournede) are "known prostitutes" and have a history with police. They had previously been banned from the casino.
Both sister prostitutes were arrested for trespassing, but Wynn did not press charges for the assault.

Poker in the Park, Why Not Here In The U.S.

Poker in the Park will run from 4 p.m. to 9 p.m. on Aug. 15, and 10:30 a.m. to 6:30 p.m. on Aug. 16. During that time, PKR will be sponsoring the Poker Dome, in which they will host free hourly Texas Hold'em tournaments.

The tournaments are free, No-Limit Texas Hold'em single-table sit-and-gos. They are scheduled for:

Aug. 15

  • Event 1: 4:30 p.m.
  • Event 2: 5:30 p.m.
  • Event 3: 6:30 p.m. The SubTV Student Poker League Cup
  • Event 4: 7:30 p.m. The LondonPubPoker Trophy

Aug. 16

  • Event 5: 11 a.m. The Royal Surrey Tournament
  • Event 6: noon
  • Event 7: 1 p.m. The Poker Project Trophy
  • Event 8: 2 p.m. The Nuts Poker League Challenge
  • Event 9: 3 p.m.
  • Event 10: 4 p.m. The England Poker League Cup
  • Event 11: 5 p.m. The Bluff Europe Championship

UltimateBet and Absolute Poker are also jointly hosting a Poker Academy tent at the poker festival, where players can partake of free poker lectures given by poker pros. There will also be autograph sessions.

On Friday, Aug. 15, participants can go to a reading by Tony Holden from his book Bigger Deal, as well as take in lectures by Ian Frazer, Marc Goodwin and Paul Jackson. On Saturday, Aug. 16, Liv Boeree will give two lectures during the day and Nik Persaud, Neil Channing, Dave "Devilfish" Ulliott, Tom Sandbrook and Montel Williams will give talks on poker as well.

The lecture schedule is as follows:

Aug. 15

  • 5 p.m.: Tony Holden, a reading from Bigger Deal
  • 6 p.m.: Ian Frazer, How to dominate short-handed games
  • 7 p.m.: Marc Goodwin, Insight into Omaha
  • 8 p.m.: Paul Jackson, Tells: Reading opponents through body language and other tales

Aug. 16

  • 11:30 a.m.: Liv Boeree, The beginner's guide to No-Limit Hold'em
  • 12:30 p.m.: Nik Persaud, The pro's guide to online poker
  • 1:30 p.m.: Neil Channing, Cash games vs. tournament poker
  • 2:30 p.m.: Dave Ulliott, Table Image: Dominate the table using table talk to bully players
  • 3:30 p.m.: Liv Boeree, Pre-flop Play: Hand selection and playing position
  • 4:30 p.m.: Tom Sandbrook, Playing poker the professional way
  • 5:30 p.m.: Montel Williams, The International Poker Federation and the future of poker

Steve Bellis of The Nuts Poker League said he believes the poker festival will be "definitely the biggest poker event for beginners and enthusiasts alike."

Steve Hedger, founder of London Pub Poker, also expressed that Poker in the Park is a great opportunity for people new to poker and also for the game itself.

"London is one of the most vibrant poker cities in the world, and the game is as popular as ever," Hedger said.

"Our leagues have seen waves of new players coming through our doors and learning the game, and Poker in the Park will be the perfect chance for those who haven't been bitten by the bug to finally see why we love the game so much."

For more information, visit www.pokerinthepark.com.

Sunday, August 3, 2008

Boyd Gaming Halts Echelon Place Construction

Echelon

Boyd Gaming announced today they will cease further construction on the $5 billion Echelon Place project located at the old Stardust site on the Las Vegas strip. The project laid off more than 800 construction workers and the job is expected to remain idle for a year or more. Boyd Gaming cited the current economic condition and concern that two of the Echelon minority partners, Morgan Hotel Group and General Growth Properties, could arrange suitable financing for their portion of the project. After the announcement Boyd Gaming stock went up 20% as speculators found this news to be a positive move. Financial observers have believed the project would not prove to be profitable, especially in the current Las Vegas economic downturn. Boyd Gaming stock has seen a 72% drop since the first of the year. Boyd also announced a $100 million stock buy-back plan. The company indicated they will concentrate their interest on the existing Las Vegas resorts that mostly serve the locals market. Boyd Gaming is also a partner in the east coast Borgata Resort located in Atlantic City. They also operate successful gaming operations in Illinois, Indiana, Louisiana, and Mississippi.

Playing a Big Draw in Limit Hold'em by Chris "Jesus" Ferguson

In Limit Hold 'em, it is not uncommon to see pots that are contested by four, five, or even six players. This happens with some frequency at lower limits, especially when playing with those who haven't learned the virtues of a tight-aggressive style of play.

In multi-way pots, draws become especially powerful, and playing big draws aggressively against multiple opponents can create very profitable situations. For example, say that you're dealt As-8s on the button. Three players limp before the action gets to you, and you decide to limp as well. Both blinds call, so a total of six players see the flop of 4s-7s-Jc. You have no hand at the moment, but you do have the nut flush draw.

On the flop, the small blind bets and three players call. What's your best action? Clearly, folding would be wrong. With two cards to come and nine outs, you'll make the nut flush roughly 35 percent of the time, making you only a 2:1 dog. With six small bets going in the pot pre-flop and four going in on the flop, you're getting pot odds of 10:1.

You might be tempted to just call and see what the turn brings but, in fact, raising in this situation gives you better value. The pot is getting large and it's likely that all your opponents are going to call. Even those who have nothing more than second pair or a gutshot straight draw may feel that their pot odds are favorable enough to justify calling the second bet. If your raise gets called by four people, you'll be getting great value. You'd be getting 4:1 on your money when you're only a 2:1 underdog – a clear win for you.

The raise might also work well for you on the turn and river. By acting after the flop, there's a chance that the other players will check to you on the turn. This gives you the option of checking and taking a free card if you don't make your flush.

The level of aggression that you show with a draw will largely depend on your position. To show how your play might change with position, imagine you're in a hand with the same hole cards (As-8s), the same number of players (six), and the same flop (4s-7s-Jc). This time, however, you're not on the button but are in the big blind instead when the small blind bets out. Here, you want to encourage the other players in the hand to put as much money in the pot as possible. If you raise, you're probably going to force players with second pair or a gutshot to fold, so your best option is to call. Give your opponents every opportunity to throw money in the pot.

Finally, let's look at how you might play the same cards when you're the first to act. If you have a nut flush draw in the small blind and there are six players in the pot, go ahead and bet. It's a favorable situation for you, so you want to make sure that some money goes in the pot. When out of position, I'll usually follow-up my flop bet with another bet on the turn no matter what card hits. Then, if I miss again on the river, I can decide whether or not I want to bluff at the pot. If I'm against only one or two players on the river, I'll usually bluff. If there are five players left in the hand, I won't bother. It's too likely that someone will call.

You can make a lot of money playing draws in low-limit Hold 'em. Just remember that you want as many people contributing to the pot as is possible, which means that in different positions, you'll need to do different things to get the most out of your draws.

Chris "Jesus" Ferguson