Wednesday, February 3, 2016

Rewards And Getting Back On The Original Focus

Back on December 12th when I decided to make the transition to cash games it was decided that my primary focus would be cash games and there would be live tournaments occasionally.  Somewhere along the way I got away from that.  Somewhere along the way I started seeing dollar signs, increasing stakes faster, and before you know it tournaments became a daily thing three snd 4 times a day.  That's not what this was supposed to be.  This was supposed to be about my learning experience in cash games.  That's what I need to focus on, and I need to get the primary focus back where it belongs and that's on cash games. 

Any tournaments that I do play will be live like the one that I'm playing this Thursday.  I think online needs to be dedicated to cash games.  The final tournament that I played online was the $20 Midnight Madness in which I finished 4th for a $138 return.  If that was indeed my last online tournament it was kind of nice to go out with a bang. 

I also feel I need to start experiencing some of the benefits and rewards for putting in the long hours that I do and I know many many of my readers are going to totally disagree with me on this but I have decided that I am going to start making monthly withdraws to put a little extra cash in my pocket. This will come from any bonuses earned, rakeback made, and promotional money earned.  The only thing that is going to remain online will be my cash game earnings. 

Now before anyone tells me how wrong I am to be doing this you have to remember the fact is I'm on disability and only getting $826 a month and it always seems like I'm running short on money.  Oh sure I budget out my food costs and my rent and my phone and cigarettes and all that but it always seems like there's something coming up. You need an extra $50 for this or you need an extra $50 for that so being able to enjoy the perks that I'm getting from poker such as the rakeback and the bonuses and being able to add that to the amount of money that I get each month is not only going to help financially, but it's going to give me a psychological boost.  Because of what I'm doing, because of the long hours I'm grinding and actually being rewarded for it, actually seeing a small income coming in because of poker is going to give me a feeling of definite accomplishment.  Ending tonight after taking a $70 loss at the $20NL tables and winning $1.08 at $50NL which I will discuss in the next chapter, total cash game earnings are $606.22 and that is what my bankroll is.  Online available I have $520.07 which means I don't have to pay back bankroll $350 but instead $86.15 and actually another $50 in bonus money will be cleared within the next two weeks which means in essence I only owe my bankroll $36.15.  This is going to give me extra money this month that I can utilize for some live tournament play and I may even play some at the Plaza on the electronic tables. That's not definite but its a possibility.  They have a $10 rebuy tournament, $25 nightly tournament, and once a week at $35 tournament. yes I did say I don't like rebuys, but believe me there is a world of difference between an online rebuy and a live rebuy. The word rebuy may be in both of them but they are worlds apart and live rebuys I do not mind in the slightest. 

Down over $106 at one point tonight I was able to battle back but still took a $70 loss. These higher numbers are really hurtful but when it comes down to it I lost 3.5 buyins  tonight.  Looks like I'm in an official downswing dating back to January 31st where I lost $22 in I believe it was approximately 1800 hands so the downswing at this time would be approx 5 buyins over the last 6000 hands played at $20NL, but considering these borderline miracle comebacks that I've been experiencing I realize this could be a lot worse than it is and as usual during a downswing you just have to play through it making sure you're bringing your A game to the table each and every hand you play.  It's the typical bullshit one exoeriences in downswings and I'm no different.   Flop a set and end up losing, flop trips and end of up losing, flop another set and up losing.  If I'm not losing with the occasional big hand I am running extraordinarily card dead or seem to be missing every single flop to say nothing of draws not coming through and I mean big draws.  I'm talking draws that have 12, 15, 18, and even 21 outs  and missing every single one of them.  Since I decided to jump in that $20 tournament at midnight I played on, but I only had one $20NL table available and so when I lookex in the lobby low and behold I see 5  tables of $50NL.  Not wanting to run only one cash game I decided to risk a single buyin at a $50NL table.  I played 26 hands and realized it was something I really shouldn't be doing and left a $1.08 to the good.  I'm not going to say I didn't enjoy getting a taste of it, but when it comes right down to it I need to let it come to me when I'm fully ready and bankroll is as well.

I got a private contact email from my blog from a gentleman who I will refer to as Alan.  I'm going to be meeting Alan for lunch on Thursday at one of the strip casinos and from what he said in his email he is a successful poker player who much like me got his start a little later than most when it comes to poker. He said in the email he wanted to talk to me because he has some insights that he thought I might find valuable. I am definitely looking forward to this as the way I look at it any insights or advice that I can get from those that are more experienced and at the same time successful, can never be a bad thing.  

Well that's a wrap up for now.  6:19am and I haven't been to sleep yet.  Since I'm not playing tournaments online I'm thinking that running my session from 2 to 12:00 should get me the 1800 hands a day I need.  Not about to go to sleep now as my roommate is due here in about an hour and we have to go pick up the money order for the rent.  As soon as I get back home I'm going to be crashing asleep till at least 1 p.m. get up, grab a shower, and then hit the tables for a 10 hour run.  So until next time, take care everyone, and I'll see you at the tables.

5 comments:

  1. I used small live tournaments to get my bankroll started. I recommend researching which tournaments have the lowest house rake. I know some of them take upwards of 35% of the prize pool out for the house. It doesn't matter how good you are it is going to be hard to overcome that type of rake. See if you can't find some of the tournaments where they use promo money to prop up the small tournaments. The one I used had 30-45 entrants each day for a $35 tournaments and the house took $5 for dealers and $5 for themselves. BUT they added $300 so the effective rake for 40 people was only $2.50 a person. This was not in Vegas though so you might need to see if any smaller card rooms offer this type of stipulation.

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  2. I need to start experiencing some of the benefits and rewards for putting in the long hours

    Agree 100%. Go for it.

    Regarding live tournaments in Vegas: Most of them would be a complete waste of money for you as they are a complete crap shoot. They zoom the blinds up and you are going all in within 60 plus minutes. What's the skill or fun in that? You didn't ask, but just my $.02.

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  3. Make SURE that you check in on Twitter before meeting up with Alan. He could be involved with human trafficking an you'll end up a sex slave for some Saudi Princess after being abducted!

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    Replies
    1. Are you looking for a sex slave, or to become one?

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