Wednesday, July 16, 2008

Anatomy of a bluff

STONE COLD LIMIT BLUFFING
Recently pulled one of the more memorable limit bluffs in my career. Before getting into it, let's revive the most famous bluff of the millenium at the 2003 Main Event WSOP.


On a board of: FLOP (9s 6s 2d) TURN (8s) RIVER (3h)
Chris Moneymaker holds: Ks 7h
Sam Farha holds: Qs 9h

After a Moneymaker preflop raise of 100K, both players check the flop. On the turn, Farha fires out a bet of 300K and Moneymaker raises to 800K. Farha calls. On the river, Moneymaker moves all in and Farha goes into the tank.

"You missed your flush?" he asks Moneymaker. Moneymaker stays mum, hiding behind his rainbow Oakley shades. Unable to make the hero call on poker's grandest stage, Farha tosses his hand in the muck. Less than an hour later, Moneymaker hoists the gold bracelet.
Even the casual poker player knows this story. But let's play a little role reversal and replay the hand as a limit hold'em hand. It's conceivable that Moneymaker raises Farha's turn bet with one overcard and the king of spades, correct?

When we reach the river card, a 3h which represents an obvious blank, what are the odds that Farha is laying down top pair here to one measly limit bet? Zilch, zero, and nada. Farha is likely fitting himself for the main event bracelet and the Moneymaker poker boom ceases to exist.


This brings us back to bluffing in limit hold'em, a rarely discussed topic because, well, you can't bluff in limit, right?

A quick fact sheet:

a- 90% of limit bluffs fail.

b- Limit bluffing is often associated with angle shooting bastards.

c- It's impossible to bluff in a limit game below 10-20 stakes.

d- You will invariably lose your roll if you bluff often in limit.

The main reason why people felt themselves bluffing at the limit table is because they fail to think two or three streets ahead. If you're going to bluff in position on a player you think is weak, start by popping them pre-flop and fire every street. Don't back down on a street that creates a scary board. If you don't have the stones to fire every street, then limit bluffing is not for you.

Of course there are exceptions to the rule. The best advice is to avoid bluffing in limit period, especially at small stakes games where players will call for the sake of looking you up regardless if they have a pair or even ace-high. I'm not saying bluff check raising a rock when the flush draw hits will never work. But in my experience you will get your hand caught in the cookie jar 90% of the time unless you're playing high stakes.

Enough delay; onto the hand:

Commerce Casino
4-8 Limit nine-handed. Typical 4-8 limit game, passive-weak showdown poker.
Hero: Seat seven
Two limpers, I look down at Qc-Jc. I decide to raise to take control of the pot (any preflop raise constitutes an automatic check to you on the flop at this table) and because the second limper is tilting off the table after having three two-pairs cracked in the last two orbits. Action after me is folded to the SB (probably the only other solid player at the table) who calls. The BB also calls.

After the first limper (seat four) calls, the tilting villain re-raises to make it three bets. In the twisted world of limit poker, a limp re-raise usually means one of three things:

a- player limps with big hand (high PP or A-Ks) in early position with the intention of three-betting any raises after him.

b- a severely short stacked player wants to put the rest of his chips in the pot since he now has the odds to call any raise with the opportunity to quadruple or quintuple up. I often see players in this situation put in the three-bet with small PPs (deuces, sixes, etc.) hoping the original raiser caps action to increase their pot odds.

c- a tilting fish simply wants to play a big pot and get lucky regardless of what his hand is.

I make the quick deduction that the villain is indeed our classic tilting fish and cap the betting with a final raise. Much to my delight, both the SB and BB fold to the additional raises (this rarely happens in limit) while both limpers call.

Flop - 10d 9s 3h

I think this is a great flop for me because it gives me the opportunity to keep applying pressure with a semi-bluff. A rainbow board with the open-ender gives me eight outs to the nuts, and I feel comfortable with my two overcard pair outs also.

The first limper checks and our tilting villain bets into me. I immediately raise, and the limper hesitates before calling. He is an average player, and one hand which stands out in my mind is where he thought for a minute (an eternity in limit time) before making a crying call when I had flopped top two pair and rivered a boat. So my table image to him is favorable at this point. The tilting villain three-bets and I'm still not a believer so I re-raise to cap the action.

Turn - 3s

Not the best card for me. If the board pairs again on the river, either player is inclined to call me with K or A high based on the sheer size of the pot. Regardless, I tell myself if the tilting villain checks to me again I am firing another bullet. If he bets into me again, I have to give him credit for at minimum a pair and I'll slow down. Check, check, and for a nanosecond, doubt creeps into my mind: "maybe I should check here, I still have a lot of outs..."

Then BOOM, I snap out of it and fire again. Both players call.

River- 6s

So I completely whiff. The backdoor flush got there, but based on the hesitation of both players calls on the turn I doubt anyone has it. They both check and I fire my last bullet. Seat four, pauses and in sheer consternation looks at the tilting villain to see if he's going to call. I highly suspect he has the best hand between the three of us here, at minimum a pair of fours. He looks at me and I'm hoping he's replaying my full house hand in his brain. Finally, he mucks.

"I got a full house." I tell the tilting villain, smiling.

Refer to number b in the syllabus on limit bluffing: it is often associated with angle shooting bastards. Am I bastard? In this instance, kinda. But I've masterfully pulled off this bluff to this point and if I can get an edge with some table talk here, I'm going to take it.

"Full house?" He asks, incredulous.

He takes a deep breath and mucks. A pot of nearly $200 is pushed my way.

Gimme those!

Friday, July 11, 2008

Quadducks

Bad news: Quadducks is out of the main event just out of the money before the dinner break on day three.

Going into day three with an above average stack was an optimal situation for him because he is the master of avoiding marginal spots. Only way he's going bust before the money is through a series of coolers. Here are three hands that led to his downfall (I hope he doesn't mind me posting these):

HAND#1

Blinds: 1k/2k no antes
BB (Quadducks): AJoff (approx 120,000 stack)

Action: folded around to the SB, who limps (he has a stack of around 100K), our hero raises it up to 6000 and the SB calls.

Flop: J-8-2 rainbow. SB checks, hero fires a continuation bet of 6K, SB calls.
Turn: 2d (still no flush draws). SB checks, hero bets 10K, SB calls.
River: 4c. SB checks, hero bets 14K, SB calls and tables J-4 to take down a 70K pot.

Analysis: I think our boy played the hand perfectly. The SB played the hand weak-passive and I don't disagree with his check-calling after the flop, but limping from the SB with J-4 then calling a 6K raise out of position with complete air smells fishy to me. Perfect board for Quadducks until the nightmare 4 on fifth street.


HAND #2

Blinds 1k/2k no antes
Seat three, a tilting loose player, raises to 8K under the gun.
Seat six (Quadducks): QhQd (approx 100K stack)

Action: Quadducks reraises to 20K. Seat eight reships all in for a total of 60K. Quadducks calls and seat eight tables Ac-Kc.
Flop: 8d-7d-10c.
Turn: 2c.
River: Jc completes the runner nut flush for seat eight for a massive 131K pot.

Analysis: Normally, I don't consider AKsuited taking down QQ a bad beat but take a closer look at the tournament situation and it's definitely a cooler for our hero. Seat eight is looking at an under the gun raise and significant reraise from Quadducks, who has a solid table image. He has to know he's behind, possibly even dominated at this point and his stack of 60K has an value of 20m. For those of you unfamiliar with m, I'm basically saying he has enough chips to not freak out and push here. A super marginal situation to put the money in here with AK suited? I think so.

Regardless, the flop was beautiful for our hero but the turn brings out the "uh,oh" alert in your brain and the river sealed the deal...

HAND #3
Blinds: 2k/4k Antes: 100?

One early position limper as action reaches our hero (nursing a 72K stack after chipping up a little) who wakes up w AA. He jacks it up to 11K, only caller is the limper (same player from hand #1 with the J-4).

Flop 8-9-2. Limper checks and our hero bets 22.5K, leaving himself approx 36.5K. Limper thinks for a moment and calls.

Turn 7. Limper checks again and our hero pushes his remaining 36.5K into the pot. Limper calls with 6-6 for the open-ender and set draw.

River 10. Quadducks is sent to the rail.

Analysis: I'm trying to probe for a different he could have played this hand, but I think it's perfect again. You could argue shipping it all in on the flop here since he is relatively short-stacked, but you have to bet for value against a weak player in this situation.

The limper played the hand passive-BAD. I don't know how else to word it. I can see how he might have thought the flop was a good one for him here since there is no paint, but at least fire into the raiser or even try a check raise to see where you're at here. I still don't think he's committed on the turn with open-ender because it's the dummy end so he's really only drawing to six outs when he calls 36.5K at that point.

Well, there ya go. Three coolers and out of the main event just like that. Fortunately, Quadducks isn't the tilting degenerate kind of personality so he will land back on his feet.

Monday, July 7, 2008

When I grow up...

"Being broke is childish."

These were the words of a good friend during the last Vegas trip. If this maxim holds true, I've been shitting my diapers for four years now. That's right. I'm a toys 'r us fish.

But back to my buddy, who I will refer to as Quadducks. He's playing day three of the main event today with a healthy above average stack of 125K. Quadducks has satellited into the main event twice, cashing in the '03 Moneymaker year (98th place). Wishing the best of luck to him.

His success serves as inspiration to my fishiest of flaws: bankroll management.

Thus, I present my newest bylaws regarding bankroll management.

1. Risk no more than 5% of the bankroll in any cash game.
2. Risk no more than 2.5% of the roll into any tournament.
3. Never sit down with less than 20 BBs at any limit cash game.
4. Deposit, deposit, deposit.

Online bankroll and live bankrolls operate as two separate entities. These rules apply to each bankroll. Also, a separate life bankroll will be used exclusively for expenses (rent, utilities, food, etc) and can never be used to fund the other bankrolls.

Well there ya go. Three separate bankrolls managed by three separate accounts. Hopefully they don't conglomerate into one big incestous blob before imploding into a big fat zero as the individual roll has so many times before.

Sunday, July 6, 2008

Leaving Las Vegas (Pt. 2)

So we left off with a $1144 profit over 5 hold 'em sessions. Now onto the ugly stuff:

Sportsbook: -796 (whiffed on 1 4tm parlay, 2 3tm parlays, 1/3 on 2tm parlays, 0/2 on misc)
Table Games/Slots: -819 (-269 slots, -120 blackjack,-330 tx hold em table game(yuck), -100 pai gow)

-1615 (TB/Sportsbook losses) + 1144 (poker) = -471
-250 (hotel and gas)
-500 (going out, staking, misc expenses)
______________________________

-1321


Wait. Hold on. Come on dude, I thought this was supposed to be a frickin' poker blog, not a gamblers anonymous testimonial?

Unfortunately, this is not the case. I, my friends, am the ultimate degenerate fish.

Taking a second look, even without the table games I would still end up profiting only $294 after my expenses. It was little consolation that I discovered 56 complimentary Harrah's offers to come back for free in my Inbox upon my return. GD opportunists.

My hope is that this develops into an actual poker blog instead of a fishy sob story. Look forward to discussions on bank roll management, implied odds, and tournament theory instead of bankruptcy diaries, seven card straight flush pai gow odds calculators, and eleven-team parlays. I'll go over my goals for the next six months away from the tables along with my strengths and deficiencies at the table for my next posts. Hope to see y'all around.

Saturday, July 5, 2008

Leaving Las Vegas

Here's a recap of the latest Vegas foray:

Hold 'em sessions: 5

1-2 NL at Bally's
Three sessions (+560, +360, +150), none of which lasted longer than three hours. Bought in for $200 everytime (min $100, max $300) and am proud to say I never had to reload. Tables were soft, weak-passive every session.

1-2 NL at Caesar's
One session (-400). This one doesn't look pretty on the surface, but I didn't really feel fishy walking away from it. Bought in for $200 (same min-max as Bally's) and subsequently rebought for $100 twice.

First bust hand- AsJc UTG I raise to $15 (blinds are $1-$3). Three callers behind, Flop comes Ac-4h-9d and I fire a pot-sized bet of $40. Only caller is a new player in seat six. Turn is a harmless 4c and I push all in for my final $96. Seat six thinks for a minute and calls with A-8. River 8c and I'm felted.

Second bust hand- AJ off in the SB. Seat six raises to $15 (this hand sound familiar?). I reship from the SB all in to $67. Seat six calls with As-10s. Flop two spades and I know I'm dead. Turn is the Ks and I'm drawing dead to the felt.

Final busto hand - J4 off in the cutoff. Three limp before me, I limp and seat six raises to $10 from the BB. Three call the raise, including yours truly (I know, I know...). Flop is Jd-5d-5c. Seat six checks (supicious) and I take the bait and shove for my final $60. He snap calls with J-J and TKOs me from the table.

(Note: my apologies for not loading these hands on the HH replay application. I'll figure out how to use that ish on my next post)

Final session was a 4-8 donkey limit fest at Binion's at 5AM on a Thursday night (or morning?). Bought in (actually, was staked) for $240. Cashed out $724 for a $484 profit. Not sure if I should count this as a win since it wasn't on my own dime and anything under $10-20 limit isn't real poker in my book, plus I had a friend at the table. We weren't team playing or anything, but it still shifted the dynamic of the table because I wasn't afraid to raise him because he is a true limit nit.

So counting the staked session, I profited a total of $1144. Playing primarily NL was a first for me, and winning at it was an even bigger surprise. With a couple of redbull jagers under my belt I felt more comfortable there than ever.

For those of you paying attention, there remains one lingering question. Why the @@## did I need a stake for a 4-8 limit donkfest if I was up near one g? The only answer I can muster is this:


I am a fish.


(Sorry, post is getting too long I will explain tomorrow.)