Saturday, October 24, 2015

Ironing Out An Approach

Well my last post where I somewhat outlined what my approach was going to be when I make my deposit on wsop.com has being pretty much been tossed and unfortunately I feel that I will have no choice but to play the $3 deep stack rebuys guaranteed prize pool tournaments. I looked over the $1 and $2 tournaments that have been completed this morning and this afternoon and unfortunately they just do not offer enough of a money return.  Most of them have 20 or 30 players paying maybe $20 for 1st, but it's just not enough to try to accomplish or grind a legitimate bankroll. 

If I am going to grind a legitimate bankroll online and with sporadic live play it's obvious I'm going to need to be playing in tournaments that offer higher rewards, either that or I'm going to be living in Las Vegas for the next 20 years trying to grind this up.  Not exactly why I came here.  

With that said each tournament will cost me $5.73 and that counts the initial rebuy to start with a double stack.  I see there are about 5 tournaments a day in the $3 range and if I am successful and can grind up some profits another 5 or 6 in the $5 range which would be a little less than $10 for each when buying for those.   I'm going to have to run very hot very quickly or I could go through that hundred dollar deposit in just a few days time, but the way I look at it there really is no choice in the matter so I will simply do what I must do. 

I actually would like to eventually turn into a No Limit cash game player, but let's face it if I go the route that Rob from Robs Vegas poker does and his standard $200 buyin oe the route the Trooper does as I believe he buys in for the $300 max that is most prevalent in this town. A live cash game bankroll is 50 buyins so you're talking a  $10,000 and $15,000 bankroll respectively.  No matter how you look at it I'm a long way from being able to grind 1-2 live, but it is something that I would like to see happen eventually.   In a perfect world have the bank roll to grind 1-2 No Limit cash games and add a few $125, 30 minute blind level tournaments in each week.  A long road to be sure, but I'm someone that adamantly believes you must always have something to work towards.  Goals is what keeps the mind sharp and alive.

I'm going to wait till November 8th to make that deposit at one of the Caesars properties.  Since I'm going to be out and about that night anyway I figure best to take care of everything all in one day.  So from now until then I'll just be playing the freerolls on wsop.com.  If I can pull off a win in one of the 6:45 p.m. $100 freerolls that'll be worth about 20 bucks and would give me three buyins for the $3 rebuy which could possibly get me started earlier than expected.

Out of the $822 that I will get for my disability payment the beginning of November, I figure Misty is going to need about a $200 loan plus my regular share of $290 so that the rent is paid.  $100 for wsop.com, $100 for that concert date I've got, and another approximately $130 in other expenses that I've got which will include a wireless mouse for my grinding as I can not stand using the built in mouse control on a laptop.

Monday is my birthday and I will still be at my friends house cat sitting and will be going back to my place sometime Wednesday.  Misty seemed rather insulted that I wouldn't let her make me a cake and cook that special dinner for my birthday so I agreed to let her do it when I get back.  I originally thought I could just dodge it altogether.  I'm turning 48 years old and quite frankly birthdays when your middle age is something you try to avoid at least for some people.  It's just another reminder I'm getting closer and closer to the big 5-0 and I'd prefer not to be reminded of that little fact lol, but friends being friends I suppose they have some enormous need to celebrate these special days. 

And as for, if not my immediate future, but just a little bit down the road, and this is not poker related but more living situation related, I would like to rent a place somewhere downtown or near the Strip.  Even if everyone gets employed, the fact of the matter is I want my own space at some point although I will have to admit if everyone does get gainfully employed and contributing the cost per month is going to be very hard to ignore.  If you figure 5 people splitting a $670 rent, $110 cable payment and $66 electric bill rounding things off your talking $850 split five ways is only $170 a month plus food and that is impossible to beat, but quite frankly with the attitudes that I receive about what I'm trying to accomplish, my goals in the live poker scene and online, I'm not sure if the inexpensive monthly cost is going to overcome that more than a few months longer.

That will be all for now. Tomorrow is sunday football and will be nice to be able 2 watch that uninterrupted as over at my place always seems like something is needing to be done.  It's so nice and quiet staying here at my friends house watching her cat and that's another reason why I see a move within 2 to 3 months happening.  Take care all and I'll see you at the tables.

12 comments:

  1. Yeah, I hear you regarding playing $3 rebuys as opposed to $1 tourneys. It is tough to grind up a bankroll from $100. It is all a matter of risk vs rewards. One thing I would like to clarify though, 100 buyins recommendation for MTTs applies to a poker stake, or to a bankroll that cannot be replenished. In your case, you actually have a reasonable expectation of replenishing your bankroll on a monthly basis, so you can relax that requirement as long as you are ok with being out of action till next month if you go bust.

    Regarding $3 rebuy tourneys, is there an addon option? Usually for rebuy & addon tourneys, I assume 3 buyins as the average cost of the tourney.

    Any reason why you are not playing on Bovada? Are you worried about the safety of your money? They have quite a few guaranteed tourneys everyday from $2 to $5 buyins, and the first prize are usually in the >$100 range. Why not put $50 in there and take a shot for bigger prize pool?

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  2. if I didn't have my own personal experience with Bovada and what I consider to be highly suspicious happenings in their game play the most recent report that I read would keep me far from there. As far as the $3 tournaments on WSOP go yes there is an add on but I am willing to not utilize the add-on because at the time of the add on the chips that they offer it in relation to the blinds in my opinion is negligible at best. As for the 100 buyins and being able to replenish the roll each month. You are absolutely correct I do have that ability, but being on disability the amount that I can replenish it with each month is somewhat limited as you might expect. Under current circumstances best case scenario I could replenish only approximately $300 a month and when you consider that I am trying to avoid the electronic tables giving the minimum buyins to be $40 to $45 even with what i could replenish that is not a lot of chances to get through the variance. Then again I may just have to stop being stubborn about it and simply play the electronic tables because quite frankly that is the lowest buyin amount available and with an ABI of $19 over at the Plaza on those electronic tables the fact of the matter is I would only need $1,900 for those 100 buyins which lets face it is going to be far easier to grind to than $5,000

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    1. Fair enough, you have got to play where you feel comfortable. If you don't mind, can you point me to the articles you read on Bovada? I do play on it regularly, and would appreciate any info you have to share. GL

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  3. https://medium.com/@dataminepoker/report-bovada-lv-2015-online-poker-in-danger-adf904952c41#.dwkz7m9cu

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    1. Thanks for the link. I just did a quick read thru the report. Sorry, but this doesn't pass the smell test. Seems like someone went to a lot of trouble making up things that sounds impressive, but in quite a few areas what the author says make no sense. It doesn't help that the author(s) doesn't even say who they are.

      I googled the author's site and came up with a thread on pokerfraudalert. I agree with most of what Dan Druff posted in that thread.

      I am not saying there is no worries US DOJ won't shut Bovada down, or there may not be other problems with the company or people running it. But as far as systematic card distribution problem and "big hand" winners, I don't trust that report.

      At the end of the day, how much are you really risking here? I say go for the site with lots of game options, you can always withdraw once you win a couple hundred or more.
      http://pokerfraudalert.com/forum/showthread.php?11121-Your-Thoughts-on-Report-Bovada-lv2015-Online-Poker-In-Danger

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  4. i sure wouldnt spend my money on wh@t u do if th@t low.

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  5. I play on Bovada almost daily. I'm never sniffed anything out of the ordinary and in six or seven years I've played, they always sent me a check when requested.

    Things could change, however. What is it they say: "Past results do not guarantee future performance."

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  6. I'm going less by the report and more with my own personal experiences on Bovada I just saw some very shaky things. Besides living in Nevada as I now do i much like the thought that I can go to any one of five Ceasars properties and make my deposit and withdrawals right from the cashiers cage so for that reason I'm going to stick with wsop.com and the $3 rebuys to start out with

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  7. Tony whether you would do it or not is meaningless you blow 4 grand on blackjack, you blow 300 on slot machines. I'm a struggling poker player but it's my dream, my passion, my future, but unlike you I also have certain outside interests which I will dive into full force as well. Las Vegas isn't going anywhere for me, it will always be here, and if it takes me a long time to get to where I want to be then I'll have fun on the journey.

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  8. in response to mojo and poker dog I think poker dogs put it best when he said in his comment something along the lines of there's no guarantee the Department of Justice won't shut up about it down. The fact that it's us-based, the fact that it's governed by the Nevada Gaming Commission, the fact that I can make a deposit and with Draw right from the strip casinos, for all of these reasons not the least of which I'm not in danger of losing any money because of a DOJ shut down I will be sticking with wsop.com being a Nevada resident it gives me this ability. With that said I'm working on my next blog and see where I will be doubling the deposit up to $200 and I'm having reconsiderations about not playing the $1 and $2 tournaments as well

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  9. Really, with your lack of money and the realities of play over at wsop.com, your only viable option is to play online at Bovada because of the vast options of tournament play, largely populated, and good structure. ACR/Black Chip are very tough to grind out an MTT living on a small BR cause of the terrible structures (long late reg) and low prizes for small events, although you can always just jump in right at late reg end and gamble in most guaranteed events. $100 at Bovada would be a million times better than $100 on wsop.

    I'm not even sure if Nevada residents can play Bovada or Winning Poker Network.

    The article/report about Bovada has also been debunked on TwoPlusTwo as well.

    Forget about the 100 buyin rule. When you are really short you might go with the 5 buyin or even 1 buyin rule. You have to be focused and tight and on a plan to grind from nothing. I have played on low to zero BRs online on many occasions. You have to sock away your buyins like squirrels nuts and play every hand like it is your last dollar (in your case it is).

    Your options seem horrible. You have a lot of hang-ups but little money. You don't like the electronic tables, but it is the best live option for you, you don't like Bovada but it is the best online option for you. Get over the BS stuff and concentrate on poker. Its almost like Tony needing the proper seat to play well.

    You need to be tight and No Limit cash is a good option to play tight as opposed to Limit Holdem. I mean, I would almost take $200 and play one session of 1/2 to see if I could get a run going, instead of playing $100 on some online site that gets 4 entries in a $1 MTT. Well maybe the one buyin is crazy but I might do it cause I will just wait til I get the nuts post flop lol.

    Your BEST bet with these limited options is to hunt down a stake of some kind, some how. If you hunt around town and make friends, you can get a number of one-off MTT stakes if you show up at the tournaments (like the AC thing). Of course the best would be some kind of decent sized cash or MTT stake. There are a lot of people around especially in Vegas who do these type of things if they like you or feel you have the right potential. You have to network like a job, make friends, follow the rules of a proper stake if they do give you money and don't appear to throw it away. Show up at tons of tournaments if you can and chat with as many poker players as possible. Or try to hit up AC for more of a stake or several tournament entries.

    Good Luck

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  10. Actually that 100 dollar deposit is turning into 200 dollars. The funny thing is that some of the reasons that you mentioned is why I'm going wsop over bovada. First of all wsop non rebuy tournaments have no reentry and I like that a lot. Secondly I to have heard that nevada residents are not allowed over on bovada and besides I already told them to cancel my account ages ago and from what I said before the reasons I'm choosing wsop are because they are US based, governed by the Nevada gaming commission, get withdraws right from the casino cash cage to mention a few.

    I find it interesting on what you said when it comes to not counting the amount of buyins when you're on short money. I would think short money is the time where I really need to observe bankroll management. As far as the electronic tables I've already come to the realization that I'm going to have no choice I'm going to have to play them and if I do go with the 100 buyin standard that'll be $1,900 give or take so call it $2K if I went with only 50 buyins then I only need half of that obviously so if that were the case I only need to grind 200 into 1000 which shouldn't take too long.

    Once my roommate is over her current financial difficulty I can add a minimum $350 a month into this once everyone gets working of course and once everybody gets working it may be close to $500 a month that I can add into this. so obviously since each and every month I do have at least call it $300 to try to grind with so I'm in a better situation than some and not as good as others, but as always in my life I will make do with what I have.

    A lot of this is going to go with how it makes me feel what my comfort level is, my comfort zone and quite frankly that's 100 buyins so on the 3rd of November I will be making a $200 deposit and beginning the next day I will try to grind that $200 into $2000. this past summer on Bovada I had turnef 300 into 1200 in less than a month playing MTTs and those were only the one two and three dollar variety so I know I have the skill to do it. I also like the fact that WSOP has a lesser percentage of payouts then any other online site I've seen. Where a min cash in a lot of tournaments online will barely double your buyin on WSOP most of the time they get you 3 to 5 times you're buyin.

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