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Saturday, August 23, 2008

New Cashgame Challenge

Haven't played much tournaments lately but have started a new cash game challenge. If you read my blog from the beginning you may know that I suck at cash games and define myself as a tournament player.

Unfourtunately I know about the big variance of tournament poker and the high value in cash games. So I bought "Harrington on Cashgame" some time ago and now found the time to read it. You have to be open minded as there are some things in the book that might break with your usual play-by-the-book imagination. But I like what he writes and I think it will allow me to develop a successful style for cash game poker.

So I started a new challenge and I started down at the $0.01/$0.02 level. I abandoned my short-stack style of play and turned to a deep-stack style (buying in for $5 per game). My BR for this experiment started at $100 and after 17,5 hours and 15 sessions (which obviously not much statistical significance) I am up almost $4 for an hourly rate of $0.22.

Doesn't sound like much success? ... well, not really. Just imagine you had played $1/$2 with the same success. This would then convert to a $400 win with an hourly rate of $22. Not too shady.

Even those 15 sessions had some interesting observations so far:
- I was down in 6 of them (2 times total loss of buy-in)
- Biggest session was trippling the Buy-In
- I went from a -$7.19 low point to a $5.29 high-point

Especially the last point is interesting. Again converting to $1/$2 that would have been a swing from a $719 loss at the lowest point to $529 win at the highpoint in just that short time. And I think swings can be even worse over longer times!

That's exactly why I start that low. I could have easily put up some money for playing let's say $0.25/$0.50. But I would care a little less about the money for the start. On the other hand I really want to experience the swings that can happen to be prepared if I invest bigger money.

I will "cheat" anyway. With proper bankroll managment I would need a $230 Bankroll to step up to $0.02/$0.05. With the time I can spend for playing (1-tabling) it would take me more than half a year at the current win rate. I know I can't stand that at this level. So after getting comfortable with the level I will probably add some money to the bankroll to boost my way up in the levels.

Will you find me at live cash game tables anytime soon? I doubt it. With my requirement of at least 200 BB's buy-in even a game as low as the $1/$1 game at the Royale in Wiener Neustadt would require $200 for a single buy-in. I'm not prepared for that stuff right now. But if my online experiment suceeds I may be in the near future.

Beside that we now started a nice homegame in Munich with some people I only knew from playing online with them so far. We play SnG's with a good structure and I placed 2nd in one of the four games we played so far - making me almost break even. But beside the money it's just a nice group and a lot of fun to play with them.

I'm not sure were to go mid September. I have won my ticket for the FullTilt Million Euro Challenge long ago and it will be a fun event for sure (although the freeroll tournament has a crappy structure). But at the same weekend the pokertour08.at will stop at the CCC in Innsbruck. Great structured event and the one I bubbled in Wiener Neustadt not long ago. Will decide shortly before the events.

At german PocketFives.com we may have an interesting offer for all our members soon. Can't tell details yet but we are working on it and I will tell you soon ;-) In case you don't know yet: Chrisrokx has moved his famous german written blog to PocketFives.com and we are happy to have him here. Have fun reading his stuff, too.


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