Sunday, May 6, 2018

It's A Whole New World And It's More Expensive

Tuesday May 1st was the first full day of the WSOP merge for Nevada and the eastern states of Delaware and New Jersey and for tournament players the results are awesome with many many more tournament options now available. Some are tournaments that I would have no interest in playing, but there are several that I definitely want to be taking part in. They have also put back less expensive tournaments for those trying to build a bankroll which I think is really great. Not everybody wants to keep hundreds of dollars online and for those players that maybe only have a hundred bucks they can get in the game with tournaments of $0.10, $0.25, $0.50, and $1 available to them.

It's a whole new world, and it's more expensive. On WSOP prior to the merge my basic poker day consisted of playing four $3 deepstack rebuy tournaments a total cost for me of $24 as I do the immediate rebuy, but not the add-on, and a $5 deepstack rebuy tournament if it actually went off with a cost for me of $10. The total cost for me not including if I tossed a $20 one in here and there was $34 per day. After looking over the tournaments, and experimenting with some and then deciding whether or not to continue with them in the final analysis I have 9 tournaments a day I want to be part of my daily play schedule, but unlike the cost of $34 per day previously, the cost now for me per day will be $81.  The tournaments I want to be playing are listed below.

9 a.m. $5 NLH Deepstack Rebuy $350 Gtd
4000 / 10 / 55 / A

12 p.m. $3 NLH Daily DS Rebuy $600 Gtd
4000 / 10 / 55 / A

1 p.m. $20 NLH Daily Freezeout $700 Gtd
5000 / 10 / A

115 p.m $1 NLH Daily Rebuy $100 Gtd
2500 / 8 / 60 / B

3 p.m. $5 NLH Daily DS Rebuy $500 Gtd
4000 / 10 / 75 / A

5:15 p.m $1 NLH Rebuy $500 Gtd
2500 / 8 / 60 / B

5:30 p.m. $7 NLH Daily DS Rebuy $750 Gtd
4000 / 10 / 75 / A

7:30 p.m $15 Daily NLH KO Freeze $500 Gtd
4000 / 10 / A

8:15 p.m $1 NLH Daily Rebuy $500 Gtd
2500 / 8 / 60 / B

The numbers that I have separated by a slash beneath each tournament listed is the starting chip stack, how many minutes per blind as under the old system it was 10 minutes, but now some of the tournaments have only 8 minute blinds, how long the rebuy period is in minutes or if it's not a rebuy tournament how long the late registration is, and finally what is the blind structure A or B. Another thing that changed with the merge is their tournaments have one of two blind structures. Here's a screenshot of each. I will call the one on top Structure A and the one on the bottom Structure B.

There are other tournaments such as 6-max and re-entries, which allow you to reenter the tournament if you have one chip or less, but these tournaments only start with 2500 chips and anyone that reads this blog knows that in tournament play my strength lies undoubtedly in deepstack, slow structured, full ring tournanent play. If you look at the difference between structure A and B in the screenshot above you will find that by the time level 10 is reached the blinds are double what they are in structure A and antes have kicked in five levels earlier than structure A. If you will notice on the list of the tournaments I want to play the ones that have structure B are the $1 tournaments, the cheaper ones and to make matters worse there also have only 8 minute blinds.

So why would I even play them you might ask? Well, actually there are a few reasons. The first is two of those are $500 guarantees and a simple $2 investment can pay out over $130 if you take it down. The second reason is they are also just a smidgen closer to the tournament structures I will find playing live. No, I am not saying they are close to it, but they are at the very least closer. That might be a stretch to use that as a reason, but none the less it is a factual one. The third  reason is it helps to keep down my average buyin also known as the ABI. Along with this more expensive cost it's going to require an updated bankroll management approach. I went into today with a bankroll of $729 and $81 a day could be a bit expensive. If you look online looking for bankroll management suggestions some will say 100 ABIs as the suggestion, but on a scale of 1 to 10 with 10 being ultra-conservative and 1 being Ultra crazy on the risk assessment scale, the train of thought seems to be that a 100 ABI bankroll is around 4 to 6 on that scale right smack-dab in the middle.

I make no secret of my financial situation which is that although I have $300 left available to me each month after bills are paid and expenses are set aside such as food and whatnot, a portion of that remaining $300 has to be delegated for Uber or Lyft rides if needed, or perhaps I may want a simple food delivery order once or twice during the months, or I may want to keep $100 aside for an emergency fund just in case something comes up like the other day when I lost my vape pen and had to go to the vape store and spend $40 for a new one. We never know what little thing might come up from day to day so it's always best to keep an emergency fund set aside even if it is only $100. So while if I did nothing else I could replace $300 of my bankroll if absolutely needed I don't want to put myself in that position so a safe bankroll management plan needs to be established, but one that still allows me to play the higher-priced better-paying tournaments and I think I'm came up with one that I'm pleased and satisfied with.

I needed to decide on a base bankroll amount that allows me to play what I call my Mainframe 6. For me this would be the two $5 deepstack rebuys, the $3 deepstack rebuy, and the three $1 tournaments. That's a total of $32 divided by 6 tournaments which equals a ABI or average buyin of $5.33. The base bankroll I want for these is $700 which gives me 131 average buyins in the bankroll and overall 70 buyins for the highest priced tournament that I would be playing each day. I find this to be a nice middle ground. Even if the bankroll drops below $700 I still will play the Mainframe 6 until I'm back over $700 again or I'm broke.

At the beginning of each poker day anything over $700 is set to one side so to speak and whatever that amount is I then decide what will be played with what is available. The choices being the $20 freezeout, the $7 deepstack rebuy $1,500 Gtd, and the $15 Daily KO. If I have $49 available as in I started the day with $749 then awesome no problem I can play all three and if I start the poker day with less such as going into today I started with $729 then choices have to be made and I have to pick and choose what I feel is best. So starting today with $729 I had $29 available and I chose the $7 deepstack rebuy with a total cost of $14 and the $15 KO.

That's going to wrap this entry up. My next entry will let you know how the first 10 days went, but if the first six is any indication it is not going to be a pretty sight. You can follow along how I'm doing over on the right side of this blog, but it is loaded with a lot of red numbers unfortunately, but we keep fighting on because cold runs don't last forever they just seem like they do. So until next time take care everyone and I'll see you at the tables.

Bankroll:  $729
May: ($130)
2018 YTD:  $103

Thursday, May 3, 2018

April Results And Looking Towards May

April turned out to be a winning month like March, but April was over twice as better.  April earnings were a total of $306 with $250 earned in tournaments, $53 earned in cash games, satellites cost me ($4) and the rakeback that I was able to gain was $7. My bread-and-butter tournament definitely were the $3 deepstack rebuys and whether they were 55-minute rebuy periods or 85 minutes it didn't seem to matter which was actually surprising to me as I usually do considerably better in the 55-minute variety. Earnings were $293 with a 124% ROI on the first and earnings of $202 and a 259% ROI on the latter. I struggled in the $20 tournaments that I played. Whether they were freezeouts or $10 deepstack rebuys that I do an immediate rebuy in to make it a $20 tournament cost no matter how you look at it in those I showed losses of ($170) ouch!!  I lost ($25) in the one Superstack Freezeout I played and didn't cash and in the one tournament I sold action on my portion of the loss was ($19) so none of that was exactly exciting it. In the $5 deepstack rebuys I lost another ($110), but I bounced back with $79 in earnings in the 6-max $5 two rebuy one add-on tournaments I played in.

All in all April got me back to being in the black for 2018 for a grand total of earnings of $234. Believe me that is not a brag as I find those numbers to be very disappointing, but February was a month that I took a significant hit with losses that month of ($541) so I had to climb my way out of a hole even though January was a winner for ($336), but I am somewhat proud of myself that I was able to buckle down and do what I had to and was able to climb out of that hole even if I've only made $234 over the first four months. I'm hoping to do much better over the next four.

The first 4 months of earnings and losses will all be combined into one grouping because as most of you I'm sure already know that WSOP has merged. May 1st the merge took place and now all three states are in the same player pool and the way I understand it some additional skins were added but I'm not completely sure about that last part so don't quote me on it. Many of the tournaments that I have been playing are either no longer on the menu, or their buyins have increased, or the guaranteed prize pools are considerably higher. There are also several more tournaments for me to choose from now.

My next blog entry will be more in-depth about this merge after the first week  has been completed. I will update you on how I'm doing so far and what tournaments are available for my personal preference. There is another aspect also. With the merge WSOP has increased the number of players that they are paid in their tournaments. The whereas before it was approximately 10% or 11% of the field they now payout on average from 17% to 19% of the field. I'm not sure how I feel about this.  Overall when I combine all my tournaments played online over the first four months of 2018 I've gone 27 for 154 for an in the money percentage of 17.5%. My tournament costs we're $1,267 resulting in earnings of $274 for an ROI of 21.6%. Obviously with an increase of the player pool being paid in tournaments my in the money percentage should increase, but with less money to be had in the top spots how will that affect my ROI?  That is something I do not know and something I'm not going to be able to answer until I have a sufficient sample size played under the new system to compare to so time will tell. Stay tuned my friends and we will find out how it pans out one way or the other.

I'm going to wrap up this entry by letting you know that I will definitely be playing in my first World Series of Poker event this year. I am going to be entering The Giant a $365 bracelet event. This is the same tournament that last year got about 27,000 entrants, but I don't care it's going to be my first experience at the World Series and I cannot wait for it to happen. Because they have five different flights for day one and then day 2 being a specific day and the final day 3 being a different day my physical limitations that I have experienced over the last several months should not come into play. Looking at the structure it looks like it's only 6 actual hours of playing time on day 1 so all should be good on that end. To say that I am absolutely excited would be the understatement of the century.

That's going wrap up this one up.  May will be nothing but tournaments played on WSOP as there are so many choices I don't have time for anything else and all my readers know how I feel about playing cash games anyway. I also decided to cut my maximum tables playing tournaments each day down to two. It's forcing me into a position where I have to pick and choose what I feel are the best tournaments for me instead of just clicking on anything and everything that's available and I think overall that can only be a good thing. The reasoning behind the maximum of two tables is because I feel the flow for me goes much better and I am able to pay close attention to everything that's going on on both tables. I find that when I increase that number to three  there is definitely a lapse of concentration  and for a poker player that's not something you want. So until next time, take care everyone and I'll see you at the tables.