The final week of July could have gone better. If you recall from my last entry I started the final week of July with $1,254 and unfortunately I ended the final day of July with $1170. However I am starting the final five months with $1,100 as I decided to pull $70 of that off and send it to my PayPal which I will then send to my checking account. Why did I do this you ask? Actually there were two reasons. The first was I wanted to start the final five months of the year with a nice round even number in the and the second reason was I've got a few medical co-pays not to mention bills I need to take care of next month and that extra $70 is going to most likely go for that.
It has been 3 full months since the merge on WSOP and this is a paragraph that could be titled why do I wait so long, but of course that can be said for a lot of things that I figure out along the way during this journey. I recently discovered, once I actually took the effort and looked into it, that ever since the merge and this asinine increase in the amount of players paid in these tournaments to over 15% and sometimes just under 20% that it absolutely kills the ROI and more specifically it kills it in rebuy tournaments more than anywhere else because those, as you know, cost more than face value. Prior to the merge even a min cash in the rebuy tournaments would be about double the total tournament cost even if you did the initial rebuy and add-on. Now with this new payout structure there are numerous times, I kid you not, where a min cash is getting you 1.2 times you're buyin. The situation is better in freezeouts and knockouts. Yes, depending on the exact circumstances there are times where that will happen even in a freezeout, but those times are less prevalent. As a prime example the $20 deep stack freeze out I have found usually a min cash pays 1.5x to 1.8x the buy-in and believe me and trust me when I tell you those few tenths of a point make a huge difference in the long run. My results since the merge are a prime example.
ITM: 17 for 79: 22%
I think it goes without saying that if you are 22% in the money you should be showing positive numbers in the earnings department and even if you don't agree to that line of reasoning you would have to agree that those earnings would have to be at least close to break even. 22% in the money in rebuys and down almost ($400) in the process. That doesn't even come close to adding up and I guarantee you if the payouts weren't so low because of the increased player payouts, those numbers would be in the positive. The final day of July was a prime example. $7 deepstack rebuy, total cost $20.37 for one initial rebuy and the add-on, 220 players, I finish in the top 10% and get $29 for my aggravation. No thank you rebuys are off the menu for the final five months.
ITM: 7 for 28: 25%
Not the best, but then again not to worst at least I'm showing a profit and heaven to Betsy it's in freezeouts. Whoever would have thought that.
ITM: 13 for 54: 24%
This one takes a little explaining. On the surface it does not look exactly what you might call prosperous, but even though I am showing overall losses in KOs there is an interesting but to this. What I am about to say next is probably going to sound insane, but then again that probably is no surprise to my long-term readers anyway lol, but after running horribly for the first 21 tournaments I decided that I was not going to play a knockout tournament like it was a knockout tournament. I think you know what I mean. Going after the knockout with less-than-stellar holdings, calling somebody who's all in with a thousand chips and you have A7s. I think it can be agreed that in a normal tournament or a normal freezeout you're not going to call off a quarter or a third of your stack in that situation, but when you're in a knockout tournament it's played a little differently so I decided that even though I was in a knockout tournament I was going to play it like I was just in a standard freezeout tournament. The results from this decision was eight cashes in the next 12 played in the $15 KO including a fifth-place finish with $100 in earnings and a 55.5% ROI. Prior to this change of approach I was 5 for 21, all of them min and losses of ($254). Over the final three tournaments in the $15 KO that I played in July I seemed to slip back into that go after the knockout routine and I went 0 for my final 3 however I was able to get three Knockouts in two of those tournaments so even going zero for the last three in the $15 KO my losses for those three were still only $15. Obviously I need to get back on track in my thinking and approach, this much is obvious, and perhaps for others it doesn't matter, but for me in a knockout tournament I got to play it like it's a regular freezeout because I think 8 for 12 says everything and more than I could possibly say here.
So the title says "The Final Five" and obviously since I've already mentioned it a couple of times that indicates the last 5 months of the year. Since I am eliminating rebuys from my tournament schedule that only leaves me with five tournaments to play each day, three of them Knockouts and two regular freezeouts. Total cost of the daily tournaments are $53 with an average buyin of $10.60, but two of them make up $35 of that $53 cost. I'm starting "The Final Five, as I stated previously, with $1,100 exactly. I'm also starting the final five months with over 100 average buy-ins, 103 to be precise, so I do believe it is in my best interest to to supplement my earnings with PLO8 cash games. I'm choosing these over NLH cash games because first of all in a live setting I've done considerably better this year in the few hours that I have played in Limit Omaha 8 than I did in limit Hold'em and with the aspect of the low and the high makes the variance lower and makes it far more interesting to me than your basic and NLH cash game which as you know bores me to freaking tears and makes root canal without anesthesia or Novocaine look appealing. Another reason is I heard one of the streamers that I watch say that even in the micros $250 a week is possible and I would like to see just how close I can come to that. I do not on God's green earth expect to hit that number, but hell, if I could get half of it, I'd be happy.
The first seven months have been a constant struggle, but the first four months were definitely profit and ever since the merge it hit me hard with the changes, but I think I've got everything figured out. Total earnings over the first 7 months were a paltry $244 with $117 coming in online earnings. I'm ready and raring to go for "The Final Five" and I really feel that since I've got everything ironed out in just what I want to do and how I want to do it, that these final 5 months is going to be a volcano explosion that would make Mount Saint Helens look like a smoldering smokestack. I'm ready and raring to go, I've got the drive for it back, I feel like I'm totally in the zone, and the only thing that's going to stop me from making a hell of a run in "The Final Five" is myself.
That's going to wrap this one up. Less than 90 minutes until the first tournament of the day and I'm not sure exactly what time the PLO8 games will get going, possibly by 11, but if not there should be at least one table going by 12. It will be a three table max so if I've got three tournaments going which I very well could in the afternoon, I will not be able to play cash games during that time. I'm only going to play these cash games while I'm in a tournament and if I'm not in one then I'm going to utilize that as my break time. With all that said that the other things remain the same such as the $2,500 goal to withdraw a thousand and keep 1500 behind online. Time to hit the tables soon, time to go to work, time to do what I do best so let's rock and roll this baby!! Until next time, take care everyone, and I'll see you at the tables.