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JACK WELCH's Blog

 
3 Posts and 3 Comments
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  • BR Building For Beginners

    By JACK WELCH - Nov 08 2009, 05:24 PM

     First of all, free multi-table tournaments (aka freerolls) are where you need to start.   No news there. 

    Every poker site offers freerolls, which will allow you to get actual cash into your account.  Annette "Annette_15" Obrestad is the best example of this method of bankrolling.  Without investing a single penny, she amassed an online fortune of $1,000,000, probably more.  Meanwhile, gaining the skill which led to a WSOPE championship and a purse of $2+ million.  A day before she turned 19 years of age.
    Pro Chris "Jesus" Ferguson challenged himself to go from zero to $10,000 on Full Tilt Poker.  Took more than a year, but he got it done.
    Don't sneer at the opportunity presented by freerolls.

    Many of today's more successful players got their start playing single table tournaments, aka sit-and-go's or SNGs.  Bodog offers single-tableSNGs for beginners - as low as $2.20 - which pay half of the field. Sometimes you can make the money without playing more than few checked-around big blinds.
    Perhaps you have heard of Chris "Money800" Moneymaker.  The 2003 WSOP ME champion kick-started the poker boom by parlaying a $40satellite into a $2.5 million cash.
    Satellites are designed for those players who lack the necessary funds to pay the full price of entry.
    First of all, learn where you have to finish to get the prize. Not playing is probably the key to success in satellites. When you do enter a hand, raise, don't call. Never risk your entire stack.  Play small ball if you are in a pot until you get the nuts on the river, then bet for value.  You want to grow your chip stack in concert with the blind increases.

    Do NOT - I repeat, DO NOT - try to win.  You do not try to win because you do not have to win to win.  You simply have to finish in front of the last player to lose.

    Don't try to get fancy.

    Finally, Frequent Player Points offer the opportunity to qualify for tournaments which pay actual cash.  An FPP on FTP is worth $0.06.  And you really don't need a ball cap with somebody's logo on it.


    My favorite satellite for micro-grinders is the $2.20 into the Sunday Quarter-Million Dollar on PokerStars.  An entry is awarded for every $11 in the prize pool.  So, the payout is close to 20%.

    These MTTs run approximately three times an hour, most of the day, most of the week.  Heck, you can multi-table them

    I am not the strongest player, but I manage to "win" 40% of these particular satellites.

    This from PokerStars: "You finished the tournament in 1st place. ....If you choose to unregister from this tournament your account will be credited with T$11.00. Tournament Dollars can be used to buy into any tournament."

    So, win one and you can afford to play 5 more.  Win four out of ten, as I tend to do, you have doubled your money.  I think that's right - I am truly a math bonehead.


    NOTE: I have never played the Sunday Quarter-Million.  I heart my weekends.

    What I do is sell my T$ for cash.  While there are doubtlessly a number of sites which buy tournament dollars, I have used - more than a few times - Liquid Poker.

    "You can sell your pokerstars T$ tournament dollars for 97% and your W$ for 91%(WPT, WCOOP, WSOP dollars). These are the best rates publicly available anywhere."

    Bottom line is this: for every $22.00 invested in satellite entries, a 40% win rate equals $42.68 in cash.


    I know, I know.  That's no recipe for riches.  But my goal, like Annette_15's, is not to deposit ever.
    Well, never again.

     


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  • How Does Your Luck Compare??

    By JACK WELCH - Oct 29 2009, 03:02 PM

     We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses. - Abraham Lincoln


    I am trying to make the move to PLO.  I understand the increased variance.  I understand sample size.  Even at my advanced age, however, I wonder how anybody can make the transition when you NEVER win as a 65-35 favorite. 
    I do, however, understand how my opponents are enjoying the game as they get their money in bad and still win.  What fun it must be for them.
    The wife and I have been discussing luck all week.  She survived her surgery, but has a hole in her stomach, which refuses to heal.  Is luck survival?  Is luck not needing the operation?  Is luck no hole in her stomach?
    How do we compare luck?  Do we compare vis a vis those less fortunate or those more fortunate?
    Mrs. JackDog and I agree.  Where health is concerned, we compare against those less fortunate.
    I may have a bad back, but I can walk... there are people in wheelchairs, people without legs.
    This past winter, following the flu, then pneumonia, then a painful fall, I suffered a deep veinous thrombosis, basically a blood clot the length of my leg.  After five days in the hospital and then many more days in my recliner, I was feeling a little miserable about feeling miserable for two months. 
    Why me, Lord??
         I understand I am lucky to have not suffered a stroke.  I understand I am 'lucky' to have health insurance. But...
          My roommate in the hospital has been sick for most of the last 31 years.  When he wasn't sick, he was in an auto accident or getting divorced or losing his job. Michael is 51-years-old and a wonderful man.  Six weeks in the hospital this time, because his latest operation was botched.  He weighs 113 lbs.
          Later, I was at the doctor's office for blood monitoring and I met a 57-year-old man who's been sick for 10 years.  He has two different forms of incurable cancer (currently in remission) and a host of other problems, the solution to one of which was castration.
          Suddenly, I was feeling pretty good about myself.  You might say, I was feeling rather lucky.
          Where poker is concerned, however, we compare against more fortunate, don't we?   
    I may be a break-even player after years of serious dedication, but I haven't hit the big score or the long winning run or the bad beat jackpot or...?
          We look at these kids just barely old enough to get into a casino winning pots the size of a new car.  Or two. TV pros are winning prizes the size of a mansion.  Or two.
    Luckychewy has $127,000 in cash in his backpack, for chrissakes!!!
          Every online poker community has its Bad Beat forum.  Why are there no Suck Out forums?  Because a Suck Out forum would be comparing us to the less fortunate.  Rare is the poker player who looks at the unlucky and tells himself how fortunate he is by comparison.
        I keep telling myself I am on the verge of a major breakthrough.  If I can avoid drunk-tilt and depression-tilt, luck really won't much matter. Because I am so lucky compared to the 90% of poker players who don't win.  Or even break even.
          And I think we should start posting our Suck Outs.

    Every mule thinks his load is the heaviest. - Abraham Lincoln


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  • Does This Chip Stack Make My Butt Look Big??

    By JACK WELCH - Oct 11 2009, 07:46 PM

     

    DOES THIS CHIP STACK MAKE MY BUTT LOOK BIG???  by Jack Dog Welch
     
     
    "In the end, if you are still just doing it, you win." - Laird Hamilton
     
        Like many poker players, I first played seriously in college.  I began to believe I was one of the best poker players ever to sit down at a card table.  I crushed the dorm game - crushed it! - pulling down maybe as much as 40 or 50 dollars a week.  Seriously.  That was a helpful sum, some 45 years ago.  In fact, I played poker and bridge so seriously, I flunked out of school.
        My father was not happy.  He offered me a choice.  I could deal with his - not inexplicable - wrath or I could serve my country...starting tomorrow.  He was not bluffing.  I figured my odds were better against the Viet Cong.  Talk about your prop bets.
        Dad, it must be said, was an excellent poker player.  Mother tells about the time she found a piece of property upon which to build her dream home.  The site was so choice, a bidding war was about to erupt.  If she could come up with an unlikely large amount of cash immediately, she could swing the deal.  "I might be able to help," Dad said.  From his sock drawer, he pulled a roll of bills, approximating his pre-tax annual income.  The next day we owned a half-acre field atop a hill.
        I joined the U.S. Air Force because the Marine recruiter was out to lunch.
        Oh, the irony.  Having flunked out of college due primarily to a lack of interest in higher education, I soon found myself in Monterrey, California, at the Defense Language Institute.  Assigned to a year-long study of the Czech and Slovak languages. Forty hours of classes weekly, with no option whatsoever of quitting.  Failing grades doubtlessly meant a direct flight to Cam Ranh Bay.
        At DLI, all governmental agencies studied, even the FBI.  Virtually every language around the globe was taught.  Including Vietnamese. 
        We used to joke about the two-week course given to combat troops on their way to the Far East.  What could they be teaching you?  "Hello."  "Goodbye." "Drop your weapons."  "Raise your hands."  "Surrender or die." "I'll have another beer, please."  "I love you." 
        I still remember how to say "kiss my butt" in Czechoslovakian.
        Of course, we played poker.  We played a lot of poker.  Hour after hour after hour of poker.  In those days, the games were mostly 7-card stud and 5-card draw.  Dealer's choice, with the occasional wild card, like one-eyed jacks and suicide kings.  Stakes varied, usually depending upon how close - or how far - from pay day the game was played. 
        Games got tougher as the pay period went on.  Think of the month as one big MTT, towards the third weekend, most of the weaker players had surrendered their bankrolls. By the end of the month, each barracks was basically spreading a short-handed sit-and-go.            The better players had the option of moving up to face higher "ranked" competition.  By ranked, I don't mean the PLB.  The sargeants had their games, the officer corps had their games, too.  The weakest games were among the junior officers, the second lieutenants.  Sooner than later, I got my ass kicked.  And kicked.  And kicked.  And kicked.  I began to believe I was one of the worst poker players ever to sit down at a card table.
        I got beat so bad, I decided poker was not the game for me.  I stopped playing.
        Fast forward a few decades.  I cannot precisely place the blame on Chris Moneymaker.  But I did read the best-selling Play Poker Like the Pros by Phil Hellmuth.  In the book, Mr. Hellmuth graciously recommended playing on UltimateBet.com.  So, I signed up.  (After all, the Poker Brat had been voted "Best Poker Tournament Player in the World" in 1997.) 
        I deposited $50, which was lost almost before I figured out what buttons to click. Just like in the military.  Apparently, years away from the tables had not improved my poker skills. 
        So - what the hell - what did I have to lose?  I began to play... gulp... play money games.
        Slowly, and then ever more rapidly, I begin to win.  And win.  And win.  Just like in college.  Before long I was playing 1000-2000 NLH with a BR beyond 3 million.  I had my mojo back.
        If you ever have a choice, do not marry a crazy person.  My wife wanted me to cash in.  When I explained it was not real money, she refused to believe I was even playing poker.
        After the divorce, I began to play again for real.  I managed to get small deposits on a half-dozen sites.  And while I study and study and play and play, I am barely a break-even player.  I simply cannot manage the win which allow me to move ahead.
        Oh, I did have a big win some months back.  A huge win.  I finished first in a 12,000 player MTT on PokerStars.  There is something very rewarding about sitting alone at a final table with a stack of 18,000,000 chips. I was still admiring my stack when they closed the table.
        Unfortunately, the event was a freeroll, which merely served to allow me entry into a future tournament.  I placed 36th of 3391 entrants in that MTT.  I was feeling pretty good about myself.  Back-to-back Jack.
        This was about the same time I began to understand the ups and downs of my youthful poker "career."  College, where I was a big winner, was small, private, expensive, church-affiliated.  Those kids had no idea how to play poker.  None whatsoever.  The Language Institute, where I was a big loser, was populated with country boys and city slickers, who actually knew how to play the game.  Some of them might not have even cheated.  They were that good.
        My own skills, to use the term loosely, never changed.  I was bad when I won, I was bad when I lost.  My game remained the same, while the results depended upon my opponents' skills and the fall of the cards.
        Today, I improve incrementally, glacially. Seems everybody who survives online improves, too.  So, gradual improvement almost seems -EV.  To be successful, we must get better faster.  We must be open to new ideas.
        As winners, we must realize we might not be as good as we think we are. 
        As losers, we have to understand why we lose. 
        And when we do win, we have to make sure the victory is worth achieving.
     
     

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