Wednesday, September 5, 2007

S&Gs vs ring games

My wife says I can play more poker if I can turn a good profit and bring it in to the house - basically become a semi-pro where I earn some income from poker. It's not easy having a full time job and playing poker in your off hours.

So now the question is - what is the best way to make money. Ring games (limit and/or no-limit) vs sit and gos?

I know for a fact I don't enjoy playing limit poker. I feel like it's donkeys abound and there is less room for creative play and so many decisions are driven by pot odds. For example, I'm getting 9 to 1 on this call on the river. I think there's at least a 10% chance I have the best hand, so I have to call. Perhaps, I can find better play at higher limit games, but my experiences at $2/4 (and yes, I'm talking about 2 dollars and 4 dollars) on Stars are finding super tight players. So what's the solution there? Play loose aggressive. Then I get punished when I try to push people out by the few who inevitably get a hand. Anyway, I hate limit.

So then we have no-limit ring games. Here, there are generally much looser players. There are also many bad players here. You can sit around and wait for the near nuts. My downside here is that the chips have real world value and I have trouble separating the chips from that real world value. In a tournament setting, it's just so much easier to disconnect yourself from the money you're playing with because of course you're not playing with real money. I just have more trouble taking a beat for $50 or whatever because I really feel it. But I do feel like I can beat these games regularly. I actually only ever did NL games on Party, but for some reason, I don't think the Stars games are so different. I also hear that the FTP games are juicy as well.

And then there are sit and gos - which to this point have been my game of choice. I like the fact that they have a defined end point. I like the fact that I can limit my losses by playing in S&Gs that have comfortable buy-ins for me. The players are generally weak (though as in my previous posts, I'm having some trouble consistently beating weak players). But the nature of rising blinds leads to more gambling. And that leads to tough beats. I feel like that in the later rounds there are more all-ins before the flop, and I find myself in 55/45 situations or something similar. You have to gamble, but for someone as unlucky as I feel I am - that's not appealing.

So those are my thoughts. Perhaps I'll try some of the NL ring games on FTP. I only have $50 or so in there, but that should be plenty to start with as long as I follow Chris Ferguson's rules on bankroll management, which I think are excellent. Too bad, my friend who recently went broke is so terrible at bankroll management:

  • He never buys into a cash game or a Sit & Go with more than 5 percent of his total bankroll (there is an exception for the lowest limits: he is allowed to buy into any game with a buy-in of $2.50 or less).
  • He doesn’t buy into a multi-table tournament for more than 2 percent of his total bankroll, but he’s allowed to buy into any multi-table tournament that costs $1.
  • If at any time during a No-Limit or Pot-Limit cash-game session the money on the table represents more than 10 percent of his total bankroll, he must leave the game when the blinds reach him.

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