Chip Management

Ok, so before I mentioned that I would try to incorporate a lesson in each post instead of griping about bad beats or talking up a big payday. Well, instead of only talking about those things... The main thought today is chip management. I've heard about this and read about it and thought I knew what it meant until the other day. Like I said I played in the Super Satellite for the $1000 main event at the Bike. There were 174 people with 17 getting into the main event. So 2000 in chips times 174 is 348K meaning the average stack at the end would be roughly 20K. So for the first time I actually thought about this and realized that if I could get to or around 20k I could ease up a little. See in a satellite like this you only need one chip when the bubble guy busts and you're in, so trying to win ALL the chips is not necessary. My goal was to acquire chips and avoid large pot situations unless I had the nuts. This worked very well for me and I always got my money in with the best hand and I made it through.

So, lets get on to the Main Event. 225 people showed up for a price pool of $225k, not to shabby. Only the top 27 get paid. I decided to take a steady approach, much like the one from the night before. By the way, we all started with $10k in chips, so the math shows the average stack of the "in the money" people would be roughly $83k. I decided $100k would be my goal and then eventually get them all. I worked hard and by the time we got down to 5 tables I had roughly $160k in chips. I decided to slow way down and avoid big confrontations. I tried to pick my spots where I could steal without too much resistance and pick up the blinds, which blinds and antes by this time totaled $20k. Once in the money I went back into get more chips mode. I was card dead and my stack went down down down. I was down to $59k when I moved all-in with A-2 offsuit. I got two callers and won the hand when an Ace came on the flop. Blinds and antes included I was up around $189ish. Needless to say, I made the final table, which became a stand still. Antes were $5k with $15k and $30k for the blinds. Everyone took turns stealing the pot when I finally went all-in with A-8 offsuit and $105k. The guy that was in the pot with me had KJo and spiked a J on the flop. I was very happy with my play, minus a couple of hands that really cost me some chips but I recovered both times. I was very patient, focused and paid attention to my chips and what the average stacks were like. I never panicked or thought I was out of it. I think I finally have an idea of how to make it in the money now and I hope that this is the beginning of a long line of cashes. Just like with anything you do in life, if you stay true to your goals and work hard everything will come together and work out. It wasn't the first time and I know this won't be the last time but it certainly was pretty sweet. Try the how many chips will the average stack be approach next time you're in a tournament and see how that works for you. For me, it sets a tangible target instead of all of them. If you have an "average" stack once you're in the money you are bound to be in the middle and can easily move up the ranks. Stay out of pots with the big stacks (unless you have aces, kings or queens) and make the smaller stacks pay to see a flop. They usually are waiting for the other short stacks to bust so they can move up knowing that they are all but out of it. These are great places to keep your stack growing and your place in the tourny moving up. Good luck.

Liquor Up Front, Poker in the Rear

Yeah, I had that Big Johnson T-Shirt. If you don't know about Big Johnson T-Shirts, that is probably a good thing. Anywho, since we last talked I went on a nice little run at the tables, 4th in a $69+6 FullTilt tourny of 122 entrants and 6th in a $10+1 FullTilt tourny of 432. And I had some decent results in a few cash games. Few things I've learned while playing away are patience and focus. Two things I really am not good at in regular life oddly enough. Unfortunately, I was unable to accomplish my goal of entering a WSOP event (any would be fine with me), mainly due to time. I've been travelling a lot and not really had the time to play as much as I would like or opportunity. Such is life and there is always next year.

That said, I went ghetto style and played in the "Mini Series" at the Bicycle Casino here in LA. It is basically the WSOP but at 1/10th the cost. I didn't fair well in one of the events. I was not patient and lost focus and was gone. Tonight is their "World Championship Main Event". I find it funny when places add World or International to their title to make it sound "better". Like Will Rogers International Airport in OKC. I lived there for 26 years and never once heard of an international flight in or out of that airport. Anyway, tonight's buy-in is $1,000 as opposed to the WSOP's $10,000. My bankroll would be seriously dented if I paid for that entry fee outright and my wife would seriously dent me if I took that money out of the bank. So, I entered last nights Mega Super Satellite, $110. 174 entrants 17 get in, 18th gets $440 cash. I started out with a fury and was up between 7 and 8 thousand (we started with 2) within the first hour. After the first four 20 minute rounds, we went on break. Thats when my cards went cold, ice cold. Over the course of the next hour and a half I played exactly one hand. I folded every big and small blind due to large raises and had to let go of marginal hands due to large raises (from solid players, if they were chumps I would have called). Anyway, I fought hard and stayed focused and patient. Needless to say, I made it into the top 17 and will be playing in tonight's Main Event. So look for an update tomorrow. So tonight's theme will be focus and patience. Good luck in your endeavors and talk to you tomorrow.

http://www.cardplayer.com/tournaments/results/2074