Saturday, January 03, 2009


2008 Wrap (Brag post obv)

So 2008 pretty much rocked. As I mentioned below, my return per tournament was remarkably close to that in 2007 (around $180). So twice as many tournaments = twice as much mobney. My average buy in was significantly higher ($205 compared to $152), and the total profit was $272K, at about $380/hour. Sweet IMO. Finally, while this is an estimate going by the average number of hands/tournament recorded in Pokertracker, I made about $120/100 hands.

I don't think many people realise how much money you can make playing online tournaments if you're actually any good and you practise good game selection. Oh alright, and you run super hot. To make that kind of money per 100 hands I'd have to be either killing $10-20 NL or very good at $25-50, and I'm almost certain that either of those would involve far bigger swings [1] (cue Dave D to tell me I just haven't run bad yet). Which would be true, but even so, you won't see me moving on from the tournaments for a while yet. This is one reason why I think tournaments are softening up ; a substantial proportion of the really good players have burned out and moved on to cash, heads up, the live circuit (lol) or whatever. The other, in response to Rob's comment below, is just through observation ; I'm sure I see more and more brain dead spazzy spewy retarted mouthbreathing plays from villains as every week goes by.

Moving into 2009, if I can just keep that at the same level I'm going to automatically make about 30% more in £ just because of currency rates. I should be able to increase my $ volume somewhat by cutting out the sites with crappy software (mostly the Euro sports betting sites) and stepping it up on Stars and Full Tilt instead. I won't be playing live much, maybe only a TV 6-max donkfest or two, and maybe WSOP ME, we'll see. I definitely won't be wasting 6 weeks chasing bracelets this year. Apart from that we'll just keep cracking on and see where that takes us.

[1] Technically far bigger downswings. Of course tournaments will always (hopefully) have massive upswings, but when people talk about swings, it's downswings that they mean. I haven't tracked what my biggest downswing is, but my worst month in two years has been a $12K loss, I haven't had 2 losing months in a row and I usually keep about $30-40K online and have never been in danger of having to redeposit. Bok ...

Update : Interesting New Year post from Ansky on Pokersavvy here. Now, Ansky is a guy I respect tremendously, his videos are really good, he plays $25-50 NL and Heads Up, and maybe higher for all I know. I'm pretty sure there's no way I could ever play cash NL as well as he does. And his target per 100 hands for this year ? $150.

Get it quietly ffs.
N1 Andy. On your cash comparison, and given the number of hands that you have played, you could just about manage your win at $5-$10NL (taking my own numbers at 1/10th of the stakes) if, as you say, you were killing the game. Your biggest downswong (once again, taking my numbers as a very rough guide) if you were killing the game would likely be something like $10K. So, not a massive difference in up and downswings, methinks. Cash has the advantage of allowing you to play when you want, but I think that the quality at $5-10 and above NL is tougher than yer average opponent in a $200 tournament. For a start you get satellite qualifiers, whereas in the cash games the only equivalent is someone "taking a shot"..

Someone just posted Ben Grundy's graphs on 2+2 :

Which is an example of both ridiculously higher winrates/100 and getting it very loudly.

All the same, you have put your finger on it Pete. Tournaments are a mechanism for playing against very bad players for amounts of money that they'd never ever put up themselves, and that's what makes them so profitable, to a large extent.
Nice one.

I await my invitation to the celebratory nosh up/piss up with baited breath.
Burger at the Cov game IMO.

Like most people I prefer to put in twice the time for one fifth of the money (before tax) in a dead end job.

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The numbers don't scale Pete. Andy would be immensely lucky to make $50/100 at the 5/10 level and the competition is much tougher. When the USA closed those games became terrible. This would make the biggest downswing bigger too.

Stick to tourneys, and well done, Andy.

(And you haven't ran bad yet :)
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