Wednesday, July 02, 2008


Done And Done

Well, that's that out of the way. To round up, I played OK in the last 3 tournaments, and at least doubled my stack in all of them, but it wasn't enough to even threaten a cash. Somewhat belatedly, I have learned the value of going into check-call mode in limit games when you're short stacked and you can save a bet or two to gamble all in with on the next hand, rather than smashing the lot in just because. I was able to restart my limit shootout twice like that today, but the third was too many.

So the final damage was 1/17 in tournaments for -$25.7K and, probably more frustratingly despite being for much less $, 1/18 in single tables for -$3K. The funny thing is if I had stayed at home and put similar hours in online, I would probably have ended up with about the same amount of money in play. What's not so funny is that I would probably have had a better EV and (definitely) hugely lower variance. Still, it was worth a spin I suppose, and we can just put it down as a bad month and move on.

Where we move on to will be the subject of a post or two once I have my feet under the table back home. Most likely increased volume online and screw live tournaments, I'm thinking right now.

I think it's worth doing the Vegas thing, because as you got at in an earlier post, the utility curve for the not-as-risk-averse-as-the-common-man investor is a lot flatter or increasing. A $500k+ score online is going to come along once in a blue moon, while at the WSOP you have a pretty genuine shot of hitting a big score and starting an empire of staking/sandwich shops/property or whatever to spin it up into the 7 or 8 figures onwards.
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