Poker bankroll management, building and strategy – online poker guide

Why Bad Beats Are Good For You

Friday, October 31st, 2008 | Poker Articles, Poker Strategy | 3 Comments

Submitted by Houston Slim, this article is a part of the Poker Strategy series.

Has this ever happened to you?
“I went all-in with pocket aces and he called with pocket kings.  Can you believe that lucky &^%$# caught a third king on the river?”
“I had the nut straight on the return and this *&^%$ idiot calls me down with a flush draw.  Of course, he rivers his fifth spade.  Why the &@^$ does this always happen to me?”
“Not only did that stupid @&%# call my obvious flush with only two pair on the turn, he sucks out and fills hit boat on the river!  What the @!$% was he thinking?”

In the immortal words of former US President Bill Clinton, “I feel your pain.”  Anyone who has played poker for any length of time has taken a bad beat, cried about their bad luck to anyone who would listen and watched as their tale of woe fell on deaf ears.  The next time you lose a hand to an “idiot” who “doesn’t know how to spell poker”, here are some questions to remember that may help ease the sting.

Did you get your money in good?  In other words, did you put your chips in the pot when you knew you had the best hand?  Did your opponent have five outs or less to make his hand on the river?  If so, you’ll win (on average) in at least ninety percent of these situations.

Will this ‘lucky card’ encourage your opponent to continue chasing draws?  The great poker writer and theorist Mike Caro wrote that, “the object of poker is not to win the most pots or the most hands or the most money; the object of poker is to make the best decisions.”  If your lesser opponent hits a miracle card to fill his hand, he may interpret it as a sign from the ‘poker gods’ that this is his ‘lucky night’.  He’ll chase every gutshot straight and backdoor flush as if it’s his for the taking.  One of the major mistakes that players like this make is to play too many hands.  In this case, your best move would be to wait for another powerful hand, let his overwhelming greed and false hope drive his betting and do your work for you.  As long as you’re holding a powerhouse hand (ideally, the ‘nuts’), let him build your pot, then listen to him whine about how, “I never catch draws”.

Do you understand the math of the game?  By now, most players should understand the concepts of ‘odds and outs’.  As in one of the earlier examples, if you hold pocket aces and your opponent holds pocket kings pre-flop, you will win (on average) eighty percent of the time.  The flip side of this math means that you’ll lose twenty percent of the time.  This means that your higher pair will lose to a lower pair about one time in five; the lower hand has a slightly better chance of winning than the chances of rolling a seven in craps.  Once you take some time to learn the math, you may see that ‘bad beats’ aren’t as improbably or remarkable as they may first appear.

Does a bad beat put you on tilt?  Sure, a bad beat can be a cause for frustration, especially when a less-experienced opponent starts thinking he’s the next Doyle Brunson after catching a lucky card.  You may even be tempted to play ‘poker professor’ and teach the lucky so-and-so the error of his ways.  One old poker saying discourages this idea:  don’t tap on the aquarium.  Let the ‘fish’ swim around in their ignorant bliss.  You’ll catch them soon enough.  Also, make sure that you don’t fall into their bad habits.  “If he can chase cards and catch draws, then so can I!”  Remember, the cards and the luck eventually even out; it’s your patience, skill and emotional control that give you the advantage.  If you give those up, you should just quit playing, hand over your money and save everyone (especially yourself) a lot of time and aggravation.

If you’ve enjoyed reading about my strategy tips, you can also read about my views on the news, people and places in poker at my new poker blog, Poker Info Page.

If you’d like to play with me (Houston Slim) on Full Tilt Poker, you can join me here. Use the bonus code “Houston” and get a $600 sign up bonus.

You could be posting your articles on the Poker Bankroll Blog. Read all about it here.

Tags: Poker Articles, Poker Strategy

5Dimes Sign Up Bonus

Wednesday, October 29th, 2008 | Sports and Fantasy betting | No Comments

5Dimes offers all new sports betting customers a 20% free bet bonus up to USD 400.

Getting the bonus is easy:

1: Sign up at 5Dimes

2: Make a deposit. Click here for 5Dimes money transaction details.

3: Wager five times your deposited amount, and receive your 20% in free bets. Please remember to contact the 5Dimes support after your first deposit.

5Dimes can be contacted by email, live chat and phone.

Customers outside the United States can get a sign up bonus maximum of USD 250.

Please visit bookmaker bonus section at WOSB.com to see other bonus and free bets offers. Further readings: 5Dimes review

Tags: Sports and Fantasy betting

Poker Freeroll at Mermaid Poker

Tuesday, October 28th, 2008 | Poker Freeroll | 4 Comments

Freeroll tonight at Mermaid Poker at 20:00 CET.

You can find the tourney in:
Poker Lobby -> Multi Tourney -> Freeroll.

The name of the tourney is “Poker brblog Free”.

The prize pool is EUR 50. To join you only have to post a reply this thread on the PokerBRB Forum, easy!!

If you are new to Mermaid Poker check out the sign up bonus at Mermaid here.
Mermaid Poker Bonus

If you have any questions please feel free to post them here or add us to your messenger. pokerbrb@live.com.

Enjoy!!

Tags: Poker Freeroll

Rags for Riches: Charity’s No gamble

Monday, October 27th, 2008 | Poker News, Poker Pro | 3 Comments

Rags for Riches:
Charity’s No Gamble

If you’re like me, or say, millions of other people across the globe that live and breathe poker, than you probably hold a subscription to a poker ‘rag’: a magazine or publication built around us – poker players. Hidden beneath the covers of these rags are stimulating interviews, intriguing concepts and news that – along with a good time, can bring a little perspective to a world of 52 cards… and some riches to boot!

Here’s what you should know this week -

The Duchess of Poker, Annie Duke, made a killing recently, though her luck did nothing to line her own pockets, no, she’s helping the survivors of the Darfur crisis. Duke, along with Don Cheadle and Norman Epstein created the charity event Ante Up for Africa last year. The list of celebrity players at the 2nd annual event was endless (Matt Damon, Jason Alexander and Adam Sandler to name a few) as was the list of pro players (like Howard Lederer, Mike ‘The Mouth” Matusow and Erik Seidel); the night’s emcee was Phil Helmuth.

Due to gaming laws in Nevada, Ante Up for Africa cannot withhold money for the charitable donation to Not On Our Watch and Enough!, the charities which will take the money to raise awareness about Darfur and provide monetary aid to the victims there. Instead, they ask participants to donate half their winnings, though nearly all ended up donating 100%! The champion of the night was pro-player, John Hennigan.

We, as a community, should be proud that us poker players so often step up in generosity to do our parts in making the world a better place, proven with the numerous charity tournaments held each year to fight diseases like AIDS and muscular dystrophy or and help those in need because of war, famine or natural disaster.

Congratulations to all the participants!

Check out more from Delik James at:
Gambler Chronicles
Quad Seven Poker

Interested in making a contribution or learning more?
Ante Up For Africa

Source: Bluff Magazine

Tags: Poker News, Poker Pro

Poker pot odds; all you need to know

Saturday, October 25th, 2008 | Poker Articles, Poker Mathematics | 8 Comments

This article is a part of the Poker Mathematics series.

This article is number 1 in a planned series of 3 articles covering the (in my opinion) most important mathematical aspects of poker:

• Calculating pot odds: see Poker pot odds; all you need to know
• Calculating poker probabilities: see Poker probabilities; all you need to know
• Calculating expected value: see +EV poker; making the winning plays

I have a feeling that many poker players, both experienced and beginners, could do with a brush-up on how to calculate poker pot odds. In this article I will try to explain the concepts so they make sense. Hope I succeed:-)

Firstly when it comes to odds calculations there are basically 3 different systems:

• The Fractional Odds System favoured among bookmakers in the UK. In the fractional odds system you will see odds displayed as fractions such as 6/1 or more commonly 6:1
• The European Decimal System used mostly by bookmakers in Europe (no surprises here). The European decimal system displays odds like decimal numbers such as 1,3, 2,7, 6 etc.
• The American Moneyline System favoured by bookmakers in the US, hence the name of the system. In the American Moneyline System you will find odds like +500, -123, +345 etc.

I favour the European Decimal System (I’m European what can I say?) but a quick glance at the available poker literature out there will quickly convince you that the fractional odds system is favoured among most poker writers (including my guru Dan Harrington). Luckily this article will give you an idea of how poker pot odds are calculated in all three systems.

Moving on the actual math: let’s say you are playing an online tournament and the pot after the flop is 2500. Your only remaining opponent bets 500, what are then your pot odds for calling? With your opponent’s bet of 500 the pot is now 3000 and you have to call 500 to stay in the pot. Here’s how you would calculate the pot odds for calling in each of the odds systems described about:

• In the Fractional Odds System the fraction quotes how much profit the bettor will make relative to his stake. A fractional odds of 3:1 therefore means that the bettor will make a 300$ profit for every 100$ staked. A fractional odds of 1:3 on the other hand means that the bettor will make a 33$ (100$*1/3) profit for every 100$ staked. In both cases the bettor will receive his original stake back. This means that in the 3:1 example the bettor will receive 400$ (300$+100$) in return and in the 1:3 example the bettor will receive 133$ (100$+33$) in return. Returning to the poker example from above, by calling your opponent’s bet of 500 you could potentially win a pot of 3000. A bet of 500 with a profit of 3000 gives a fractional pot odds of 6:1 (3000/500). As written earlier your initial stake is returned to you along with your profit which means that you in total will receive 3500.
• The European decimal system differs from the other two systems in as much as the bettor in effect hands over his stake to the bookmaker. The decimal odds then reflects the total amount that will be returned to the bettor; that is both his stake and his profit. Let’s see how this works in the 3:1 and 1:3 examples from above. When staking 100$ to win 300$ the bettor parts with his stake and is paid back his stake plus his profit which equals 400$ (100$+400$). In this case his decimal odds are quoted as 4 (400$/100$). In the 1:3 example, the decimal odds are 1,33 (133$/100$). Revisiting the poker pot odds example, the decimal poker pot odds are 7 (3500/500).
• In the American Moneyline system the odds are either positive or negative. The fractional odds of 3:1 from the example above would be written as +300 indicating the amount of money to be won on a 100$ wager. The 1:3 fractional odds would be written as -300 indicating that you would have to wager 300$ to win 100$. Going back to the poker pot odds example the 6:1 pot odds therefore corresponds to +600 in the American moneyline system. As a concluding remark I do not think the American moneyline system is well suited for calculating poker pot odds, so if I were you I would focus on getting familiar with either the fractional or the decimal odds system.

Given the explanations above, converting poker pot odds between the three systems is pretty straightforward. I have listed some examples below. Fill in the blanks yourself to practice converting odds.

• Fractional odds to decimal odds: write the fraction as its corresponding decimal number and then add one. Thus 8:1 corresponds to 9, 1:4 corresponds to 1,25, 1:8 corresponds to 1,125 and so on.
• Fractional odds to moneyline odds: if the odds is more than even (i.e the decimal odds is larger than 2), convert the fraction to its decimal number and multiply by 100. If the odds is less than even invert the fraction, convert to its decimal number and multiply by -100. For example 7:1 becomes +700, 2:1 becomes +200, 1/4 becomes -400, 1/9 becomes -900 and so on.
• Decimal odds to fractional odds:
• Decimal odds to moneyline odds:
• Moneyline odds to decimal odds:
• Moneyline odds to fractional odds:

You could be posting your articles on the Poker Bankroll Blog. Read all about it here.

If you’re looking for a free poker bankroll, check out our review of PokerRoomSchool.

Check out our detailed introduction to fantasy betting at Draftbug.

Tags: Poker Articles, Poker Mathematics

Unibet WOSB Freeroll October 26th

Saturday, October 25th, 2008 | Poker Freeroll | No Comments

Next freeroll is on the 26th at Unibet.

The tournament kick off is at 21:00 CET, BUT there are changes from summer time to winter time in some countries so please double check the time in your country.

You can find the tourney in:
Poker Lobby -> Scheduled Tournaments -> Special.

The name of the tourney is “WOSB Freeroll” since it is sponsored by WOSB.

The prize pool is EUR 50. To join you only have to post a reply this thread on the PokerBRB Forum, easy!!

If you are new to Unibet check out the sign up bonus at Unibet here:
Unibet Sports Betting Bonus
Unibet Poker Bonus

If you have any questions please feel free to post them here or add us to your messenger. pokerbrb@live.com.

Enjoy!!

Tags: Poker Freeroll

Rakeback vs. Poker Bonus, or both?

Friday, October 24th, 2008 | Poker Rakeback | 1 Comment

This article is a part of the Poker Rakeback series.

As an online poker player you constantly get different bonus offers and often you sign up for a bonus without really making sure how much rake you have to pay before you clear the bonus. We want you to choose a rakeback deal with a poker bonus included, so you get the best of everything!

Today, almost every poker sites offer deposit bonuses and they usually include a percentage and a certain amount, for example, 100% up to $500. This means, that you have to deposit a certain amount and it will be matched with the same amount, not exceeding $500. Remember, if you deposit $200 you will receive a bonus of $200, and if you deposit $1,000 you will get a maximum bonus of $500. So make you sure deposit the right amount in the first place!

Every bonus has a time limit
The time limit is important if your bonus is paid in a onetime cash out, because you can lose the entire bonus if you do not pass it within the time limit. It is important that you check the requirements for the bonus in order to clear the bonus.

Check the bonus requirement

Sites like Interpoker use the points system based on how much you pay in rake. These points are often used as a bonus requirement; you have to play and collect a special amount of points in order to clear the bonus.

Rakeback or Bonus?

If you want to take full advantage of rakeback and bonuses, make sure you don’t choose one over the other. Find a way to make bonuses and rakeback work together. There are poker rooms out there that will not deduct your bonuses from your monthly gross revenue (the total amount you pay in rake), hence you will receive both rakeback and poker bonus. Signing up for a rakeback plan is a must for every online poker player. Signing for a rakeback deal that gives you credit for tourney fees and leaves your bonus money out of your rakeback calculations is the best way to go.

PokerBRB gives you an easy overview of the poker rakeback deals out there.

Written by Michael

You could be posting your articles on the Poker Bankroll Blog. Read all about it here.

Tags: Poker Rakeback

Why the cards matter least – Poker Strategy Part 1

Thursday, October 23rd, 2008 | Poker Strategy | No Comments

Submitted by McTap, this article is a part of the Poker Strategy series.

Before you decide to play your hand there are several factors that you should consider before making your decision to call, raise or fold. I understand that poker is a card game, but in reality, the cards you hold are only a small piece of the puzzle and should not influence your decision too strongly. Now a pro will say “Tell me something I don’t know,” while a beginner/intermediate player might have troubles grasping this concept. Some of you may have even heard about how Annette Obrestad (Annette_15, winner of last year’s European WSOP) played and won a 180 person online tournament without ever seeing her cards (they had them blacked out on her screen). This just proves my point a little further. Over several upcoming articles, I will discuss many of the factors you need to consider before playing your hand.

Blinds
In order to make a proper decision you need to know what the blinds are and where you stand according to them (M-factor). I understand that this should be a trivial fact, but many players, especially late in tournaments, decide to just call without realizing that they could be putting in a good percentage of their chips pre-flop (if the blinds are high compared to your stack), when according to their M-factor they should fold the hand or go all-in. In reality most players don’t know, or understand, their M-Factor, so here is a brief description.

The M-factor is the relationship between your stack and the amount of the combined blinds. First off, according to Harrington, there are 5 M-Zones:
•    Green Zone = Your M is 20 or more.
•    Yellow Zone = Your M is between 10 and 20.
•    Orange Zone = Your M is between 6 and 10.
•    Red Zone = Your M is between 1 and 5.
•    Dead Zone = Your M of 1 or lower.
The higher your M-factor the less you need to play mediocre hands, as your are not in trouble to be blinded out. Once you reach the Orange zone or lower, your options start to become limited. This does not mean that when you have a Green or Yellow M-factor you should not use your larger stack size to expose opponents weaknesses, attack those with a
Yellow M, or steal pots, it just means that you are not being forced to play your hand as you can survive a bad stretch of cards without too worrying too much about being blinded out. For example, if you have 1000 chips and the blinds are 25-50 this gives you an M-factor of 13.33 (1000/75), putting you in the Yellow zone and giving you the option of not playing a mediocre hand out of position. But if you had 1000 chips and the blinds were 50-100, then now you have an M-factor of 6.66 and your situation takes on a whole different meaning. Your M was just cut in half by the blind increasing and now that mediocre hand starts looking like a monster that you should be pushing with. Keep in mind that with any M of 7 or lower you should be going all-in with medium hands and above, as limping commits too much of your chips to fold on the flop. When going all-in due to a low M-factor, being the first in the pot is always better, especially with medium hands. Not too often do you want to call off your entire stack with less than a premium hand. Also keep in mind that while you are in the Yellow zone you are not desperate yet, but calling or raising a hand could drop your M-factor into the Orange zone, making you think that an all-in might be your best option. Before this article gets to far you might be wondering what I consider as medium hands. First off any pocket pair (99 or less) and connected cards down to 7-6 (suited or not), any A J or lower (suited or not), K Q-7 would fit (suited is better but I would play unsuited), as well as Q J-9 (again suited is way better but if I had position I would play unsuited) would fit this range in my opinion. Some people might go lower, but then you are getting into the greater probability that you are behind pre-flop. Bottom line is when it comes to going all-in due to a low M-factor, pick your spot but don’t be afraid to play any 2 cards.

If you are having troubles calculating your M-factor while playing, you should consider purchasing Tournament Indicator. This valuable tool is great for SNG’s as it will calculate your M-factor as well as your EV (estimated value) for each hand you play. If you do not know what EV is, don’t worry, I will be talking about that in another part of this series. Before spending the $80+ on this software you can download a 48 hr free trial to see how it works. Keep in mind that the free version is only for play money games and you will need to purchase the full license to get the full effect. Personally I haven’t used Tournament Indicator more than the free version so I don’t have a strong opinion either way, but you can read more about it at sitngotraining as he has taken the time to analyze it.

The other thing about the blinds to consider is when the next level will be starting. If you find yourself short stacked and the blinds are going up on the next hand or that your M is between the Yellow and Orange zone, you should consider making a move at this blind level with the cards you have. This could be advantageous as players might not consider you as desperate and take you as having a legit hand so they won’t call, winning you the blinds. But if you were in the Orange, Red, or Dead zones, your opponents might be thinking that you are making a move with any two cards and are more likely to call.

So when it comes to blinds, there isn’t a whole bunch to consider, but they need considering non the less. The last thing you want is to not be paying attention to them and find yourself blinded out, or in trouble of being blinded out. The next time it is your turn to act in a game, try to think about this before looking at your cards and you will be in a better frame of mind to make a proper decision.

Good luck at the tables.

McTap03

Check out PokerStrategy.com for an Instant Bankroll of up to $150

You could be posting your articles on the Poker Bankroll Blog. Read all about it here.

Tags: Poker Strategy

Poker Freeroll October 26th

Wednesday, October 22nd, 2008 | Poker Freeroll | 6 Comments

PokerBRB and the Poker Bankroll Blog are yet again hosting a poker freeroll. Difference this time is that the freeroll is sponsered by WOSB.com.

The freeroll is played at Unibet Poker the October 26th. The kick off is at 21:00 CET and the tourney is called “WOSB Freeroll”.

The prize pool is EURO50 and everyone interested can join this event. Only requirement is that you make a post in this thread on the PokerBRB Forum. After posting you post we will send you a password.

If you have any questions post them here or add us to your messenger, pokerbrb@live.com.

Enjoy!!

Tags: Poker Freeroll

Bankroll Management by Steve

Friday, October 17th, 2008 | Poker Articles, Poker Bankroll Management | 2 Comments

Submitted by Steve, this article is part of the Poker Bankroll Management series

Besides playing too many starting hands for their own good, online poker beginners usually commit another – extremely frequent – mistake: they play on bankrolls way too flimsy to support the limits on which they’re trying to make money. Playing under bankrolled can ruin an otherwise good player’s monthly revenue too, let alone that of a player who’s only just begun exploring the intricacies of the game. Here’s why:

Texas Hold’em is a game of relatively high short term variance. What this means in layman terms is that experienced players and rookies will do battle from relatively equal footings on a per hand basis. The luck factor gets a bigger role than in other games and that acts as a big equalizer often upsetting the pros in favor of the beginners. This however is an extremely deceitful image: over the long-run, skill always prevails over luck and the gamblers are bound to get felted.

Suppose you’re a good player and you only have a very small bankroll to play on. The variation may well get to you and bust you completely before you ever get the chance to impose the advantage your skill lends you.

If you play on an adequately large bankroll however, you’ll be able to emerge after bad beats and with the positive EV provided by your sills and discipline, you’ll turn a profit at the end of the month.

The big question is: just how big is an “adequately large” bankroll? – and it may be more difficult to answer than one would think at first glance.

In order to accurately determine the size of bankroll that would back you up well at the green felt, you need to ask yourself a few questions.

First of all: what is the game of poker for you? Is it just a small time hobby, is it your biggest hobby, is it an obsession or is it what you do for a living?

If it’s just a small-time hobby and you only spend a few hours playing poker in a year, you shouldn’t really worry yourself about bankroll issues at all: you do not need one. In this case, your primary reason for playing is obviously not to make money, but rather to have some fun, fun which you’re probably willing to pay for too.

If poker is more like a hobby for you, you’ll need the equivalent of 2-5 buy-ins for the limit on which you play. This bankroll will be enough to cover your expenses for 1 month’s worth of play, but it sure won’t be enough to carry you through bad swings. Then again, if you treat poker as a hobby, your objective will probably not be to make money on it, and therefore you will not feel the need to have your bankroll carry you through times of bad beats.

If poker becomes your obsession, and you realize you’re in it for the money, you’ll need a legitimate bankroll, one that will carry you through downswings. In this case, due to the fact that you’ll be playing much more often, you’ll need a bankroll of about 10 buy-ins. At this stage, you probably have a separate source of income, so that will come in handy to bail you out if things misfire completely.

Of course if you’re an online poker player you will need a slightly bigger roll of about 15 buy-ins, because of the bigger number of hands per hour you’ll be playing at the virtual tables.

If you’re thinking about going pro, about making a living playing poker, you’ll have a whole host of different factors to consider. You’ll have to take a really serious look on the life you’re currently living and assess whether you’ll be able to maintain or even improve (depending on your goals) your current living standards. You’ll have to take your rent, loan, mortgage and other expenses into account, and you’ll also have to consider the fact that you may act differently at the table when your rent is riding on the pot you’re striving to secure.

As a pro, you’ll need a much bigger bankroll, one that is rather intricate to accurately determine. Regardless of whether you’re a weekend player or a professional however, you should never play a single hand without rakeback. Rakeback will yield a constant trickle of revenue, one which – if you’re a high stakes player – will quickly turn into a steady flow.

You could be posting your articles on the Poker Bankroll Blog. Read all about it here.
Best,
Steve

Tags: Poker Articles, Poker Bankroll Management