BE THE KING! (of Small-Stakes Tournaments)
Poker strategies designed for the novice and the nervous
By Mike Exinger
Copyright 2011 Mike Exinger
Version 12.11.11.c
Smashwords Edition, License Notes
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Chapter 3 – Let’s Sit Down and Play
Chapter 4 – Designing a Strategy
Chapter 5 – Expanding the Strategic Rules
Chapter 6 – The Other Guys at the Table
Chapter 7 – Tools of the Trade
Chapter 8 – Stages of the Tournament
Chapter 9 – Other Stuff That Didn’t Fit
Preface
CAUTION: The book you are about to enjoy comes with one disclaimer and three caveats:
DISCLAIMER: This strategy guide guarantees NOTHING. It offers you an opportunity to play poker using a system that I have found to be successful. It does not mean that you will find the same success. Stuff happens. Gambling in many forms is legal in many jurisdictions, but it is just that...a GAMBLE. Proceed with caution. If you do find that this book gives you a leg-up on other players, hooray, and go tell someone else to buy the book!
And now, the caveats:
This book is intended for those poker players who are looking to improve their game. It is designed to be simple to read and intended for those who aren’t making money at the tables. Fortunately for me, that’s 90% or more of all poker players.
Careful readers will note that the title of this book is “Be the King.” In addition, for clarity and laziness I use the pronouns “he” and “his” and the like in reference to all poker players (unless specifically discussing a known female opponent). This is not deliberate sexism, as most poker players ARE male, and the word “King” references “one who rules” which we all know can be of either gender. Besides, I know many female poker players who can kick your ass.
For some reason, many poker strategy books have a forward by Wil Wheaton. While I respect both Wil’s poker playing acumen and writing skills, he did not contribute a forward for this book. Maybe next time.
Enjoy.
Chapter 1 – Introduction
WHAT THIS BOOK IS ABOUT
This is a book like other poker books in that the purpose is to make you a better poker player. The assumption is that you WANT to be a better player, or else why buy the book, huh? You may be amazed to know that the majority of poker players have never picked up a book, read a magazine, participated in an online poker forum…nothing at all when it comes to improving their game.
The concentration of the book is Texas Hold ‘em small-stakes tournaments. Much has been written about playing in tournaments, and we’ll make reference to some of the more outstanding tournament literature that is out there today. The problem this book attempts to address is that most of the focus has been on higher stakes tournaments, partly because that where the authors play. This book specifically focuses on small-stakes tournaments (partly because that where this author plays). That’s one reason – two more are these:
More poker is played at the small-stakes level than any other level. Check the lobby of whatever online poker site you frequent – there are more small-stakes games than any other level (and they fill fastest).
Small-stakes tournaments are different than at other levels. The reasons for this are varied, and we’ll discuss them all, though you can’t do anything about a few of them. Except shrug.
Part of improving your poker game is an awareness of your environment. In order to play winning poker, you need to understand the difference between lower level stakes games and the stuff you see on TV. The World Series of Poker, World Poker Tour, and the like are big-money tournaments. The hands analyzed in Card Player magazine are from big-money tournaments. Most of the poker manuals today show hands from big-money tournaments. Yes, you’ll learn strategy from all of these sources, and then, when you try to apply them at the small-stakes level, you’ll wonder what they’re all about.
Because, and I will say this over and over, “It’s different down here.”
The small-stakes environment causes ripples in the waves of basic strategies used in other levels of play. Part of those ripples come from the clowns who have no idea what they’re doing, and part of it comes from players who only know partly what they’re doing. Both of these groups tend to get in your way, making progress difficult.
An analogy is needed here. Think of this as a special driving manual. Other manuals (poker books) will teach you the rules of the road, how to start your vehicle, how to drive safely and at night, and all that. But…they don’t talk about the guy on the road that only drives 30 MPH, no matter if he’s on a city street or the highway. Nor do they discuss the guy who only drives 80 MPH no matter where he’s driving, or the guy who drives with the sun shade still firmly in place on the windshield. And they certainly don’t tell you how to avoid and survive these kinds of drivers, because the people who write these books don’t face these drivers on the “roads” where they drive.
If you play small-stakes tournaments, you DO see these “drivers” every day, and you know what kind of mayhem they can cause. Me too. While we’ll discuss some of the basic strategies you’ll find in similar poker tomes, we will deal specifically with applying strategies for these unique small-stakes games.
The neat part about learning more about (and conquering) the small-stakes tournaments is that this skill will be of value to you when (if) you decide to move up levels and play for higher stakes. It’s all about learning the environment you play/drive in, and this book is your road map.
WHAT THIS BOOK IS NOT ABOUT
Fancy plays. Complicated math. Metagame. We’ll leave the advanced concepts to others. We’ll focus only on Hold ‘em despite the fact that learning other poker games like Omaha and Stud can actually help your Hold ‘em game. We will look at typical scenarios you’ll face in single table tourneys and at MTTs, and develop a basic strategy for best dealing with these scenarios at small-stakes levels. That’s it. That should be enough.
WHAT YOU SHOULD ALREADY KNOW
I assume that you know how to play poker, and by that I mean you know the flow of the game. You know how to bet, the rankings of the hands, that sort of thing. If there are terms you see here that are new to you, know that this is why they created the Internet. Here are a couple of sites that have information up the wazoo:
http://www.flopturnriver.com/poker-dictionary
There’s lots of good stuff there, like hand rankings, calculators, player forums, and other poker tools. Yes, there are other sites out there (2+2, Pocket Fives, and many, many more) - go look.
I was thinking that it would be best if you didn’t know anything about poker, so you wouldn’t have to un-learn any bad habits. That would make this book too long. So some knowledge is good – in fact, it’s better in this case because as you un-learn your bad habits, you’ll actually become more aware of your poker environment, and as I stated above, that’s part of being a better poker player.
WHO THE HELL AM I?
I’ve had several careers, both as a grunt and as a top line employee. What makes me think I’m different is that whenever I advanced to the top, I never forgot what it was like at the bottom. When I was a teacher, I remembered what it was like as a student, and structured my courses accordingly. When I was a bank manager, I remembered what it was like as a teller, and treated my staff accordingly. I am now a business owner, and I remember what it was like to get a paycheck instead of signing them. That’s one side of me.
My gambling side? If you’ve read this far you’ve guessed that I play most of my poker at the small-stakes level (you’ll read why later). I’ve been playing poker (and involved in some form of gambling) for…let’s just say “a number of years.” Back in my youth we had to play poker at someone’s basement or back room…no fancy Internet poker sites or lipstick cameras to reveal player’s hands or anything like that. We also walked to school in 8 inches of snow in our bare feet uphill both ways.
But I didn’t start as a poker player. My dad and grandfather were both horseplayers, and that’s the gambling that I (mostly) did growing up as it was the ONLY game of “skill” that existed for me at that time. The poker I played then was mostly friendly affairs that centered on “dealer’s choice” games that involved more wild cards than Norman Chad had wives. Luck was the way to win (that, and cheating). The closest casino was 2000+ miles away. So I stuck with the ponies.
Later, one of my careers was as a freelance writer. In the 1990’s I wrote for many gaming publications, like Casino, Casino Executive, Double Down, Thoroughbred Times, American Turf Monthly, HorsePlayer and LottoWorld. I even wrote an article for Card Player magazine, even though most of my focus was on the horses, slots, and blackjack. I later created a horse handicapping software program called Mike’s Handi-Man that sold well on the infant Internet. Then I switched careers again and fell out of writing for a while, though I still was an avid horseplayer, and made the occasional trips to Nevada casinos (I had moved west) as time permitted for blackjack.
In 2000 I changed careers again and started my own business. Because of a lack of time and my new location, I gave up gambling. Then, in 2003 I caught the “Moneymaker bug*” and found online poker an irresistible attraction.
* Moneymaker bug? Chris Moneymaker? Accountant from Tennessee who wins a $39 online satellite to play his first live poker tournament at the World Series of Poker? And wins the tournament AND $2 million? Yeah, THAT Moneymaker bug. Lots of players caught that fever.
Starting a business is incredibly time consuming, so I signed up to play but didn’t get serious because I knew that time constraints (and other distractions) would not allow me to play well, and when one is distracted one plays poorly…and loses. And the other factor in starting up a business is money, and there wasn’t much extra to toss into online poker sites.
So I played for free and read what I could about improving my game. I tried to apply my poker book knowledge to the free games, but with little success. I was still somewhat distracted (still trying to get the business going) and frankly, I still had a lot to learn.
So I read more poker books and read the online forums and played and played and played. And I got better, but…I still didn’t feel like I had mastered the game. I finally made the plunge for my first deposit. But I wasn't winning as much as I thought I should be. And my bankroll proved it.
Maybe it’s me, I thought. Perhaps I really do suck at this game.
My bankroll was on the decline, more than half gone, so I resolved to improve. I would find a strategy or two that made me a winner, or drop poker entirely.
I made a second deposit, and then…here we are. For the last two-plus years I’ve been a winner at the small-stakes level, showing profit mostly at the multi-table tournaments (and a few dollars from single table games, though they’re not my favorites).
I’m not going to say, “I found the secret.” You know better than that, don’t you? There are no secrets, and there isn’t just ONE way to play to win. There are many strategies to winning poker, and many of these can be applied at the small-stakes level.
And here’s one last difference between this book and many others: those books are written by pros who play at today’s top levels. Good for them, but for the rest of us (maybe 95% of us), we’re not there…yet. Top-level strategies are fine, but I will say it over and over…it’s different down here. And like you, I’m still here. Doing better than many, but I still remember (and live) the small-stake game. So I feel that my advice may hit closer to home…your home, as “mi casa es su casa.” Got that?
OK, enough chit-chat. Let’s learn how to play and win at the small-stakes game!
Chapter 2 – Definitions
WHAT ARE SMALL-STAKES?
For the purposes of this book we are referring to tournaments (either single table or multi-table, either scheduled or Sit ‘n’ Go) with a small buy-in. Different online sites define these small-stakes differently. At one time PokerStars called any tournament with a $5 or less buy-in as “low” while other sites define this at less than $10.
Now some of you would say that $5 is a small buy-in, others would say that’s too rich for your blood, while thinking a dollar is your speed, and others wouldn’t consider playing for less than $20. That’s OK - once we discuss why people choose to play in small-stakes tournaments we’ll offer a better definition of “small.”
This book is mostly about online tournaments, as most casinos and cardrooms hold tournaments with what most would not consider small buy-ins. I think. Seems to me that a low buy-in wouldn’t be worth it to the brick-and-mortar guys once you consider payroll and other expenses. If you know of a live tournament with a $5 or $10 buy-in, hey, let me know! Otherwise know we’re talking online poker here.
WHO PLAYS SMALL-STAKES? WHY PLAY SMALL-STAKES?
If the only reason one plays online is to be cheap, why pay at all? Most sites allow you to “play for free” and if it’s only fun you’re after, why pay a dime or a dollar? We’ll talk about the pitfalls of “free money” games later in detail.
To my thinking, the reason MOST people play poker is to win, and if you have nothing to show for your winnings, what exactly have you won? There are a couple of reasons why you might play the occasional freebie: to learn the basic flow of the game, to learn the function of the various controls and buttons at a new site…and that’s about it. If you actually want to treat poker as a game of SKILL, stay away from the free games.
There are probably as many reasons for playing small-stakes as there are players. I’ve put together a list, and I’m sure that if you don’t find your reason(s), you could add to it. Let’s go through the list, and then I’ll tell you a story or two and then try to re-define what we mean by “small-stakes.” And then we’ll get on with learning how to beat the small-stakes games.
REASONS FOR PLAYING SMALL-STAKES
You have a very small bankroll and can’t afford to play higher stakes.
You don’t think you play well and think that you’ll get clobbered at higher stakes.
You USED to play higher stakes, got clobbered, and this is all you can afford until you build back your bankroll.
You think everyone else playing small-stakes is a fish and that you can beat anyone and everyone at this level.
Playing at this level is cheap entertainment.
Playing at this level allows you to multi-table without breaking the bank- more action for less money!
You’re just having a little fun, and freerolls have lost their attraction - too many fish and/or maniacs.
You want to try new techniques or tricks and don’t want to jeopardize your bankroll at higher stakes until your experimentation is complete.
You’re multi-tasking, checking your email, surfing the ‘net, and you want to play, but free games bore you.
You’re trying to build a bankroll. I know this is similar to #3, but many players don’t see themselves in #3. What happened is that they decided to give online poker a try, made that first deposit, blew through it by playing way over their head, and then, with deposit number two, they found religion, got serious, and started (over) small at the small-stakes level. Been there, done that.
Your family/spouse/self has a “thing”/is leery/against gambling, so you appease them/yourself by playing for very small-stakes.
A STORY, AN EXAMPLE, AND A DEFINITION
If that last reason seems outdated, it probably is, and you’re probably less than 50 years old. Back in the day, there was much hue and cry about “the evils of gambling.” This was long before state lotteries, Atlantic City, and Floridian poker rooms (Paleolithic Age, I think). My family was caught in that hue and cry, and once I got older I began to understand the real reason some folks thought they saw the devil at work when it came to gambling. And with that I understood all about calculated risk taking, and how that applies to our subject at hand.
My Dad was a horseplayer, like his father. They didn’t see playing the ponies as gambling because they thought they knew something about it. They knew about pace, how to read the form, about jockeys and trainers and odds. So when they put down their hard earned cash, they weren’t gambling, but taking a risk based on perceptions, knowledge, and past performances. A friend of my Dad liked to say he was “investing in horse futures.” I got the joke.
My Mom’s family knew of my Dad’s love of the track, but tried not to acknowledge it, because they thought “gambling was wrong.” They couldn’t see tossing away the family paycheck on a bob-tailed nag (yes, they really said that). They made no secret about their distaste for my Dad’s “affliction” and we had to make up excuses as to where he was when we went over to their house to visit and play cards.
Yeah, you read that right. Play cards. Euchre was the game, a fast moving two-team trick-taking card game using just the 9-though-ace (you know how to play if you grew up in a town with any sizeable German population, or anywhere in the Midwest). And we played for a penny a point. My grandparents were card-fiends at this game, as was my grandfather’s sister. Think of “Aunt Jul” as a 91-year-old female Phil Hellmuth. They knew the game, knew when to pass, when to make trump, when to go it alone (you get more points that way if you win all the tricks). There was no risk involved, for, as Aunt Jul used to say, “Outta my way, Mikey, I know what I’m doing” (and she did).
My grandparents knew nothing of horses, but lots about cards. That’s the first important difference here - knowledge decreases risk. And they only played for pennies, not “big bucks” (truth is, neither did my Dad, but they assumed that any bet on anything they knew nothing about was risky). That’s the other half of the risk equation - not the actual amount, but the comfort level involved.
Here’s the example that makes this second part of the equation clearer. If I challenged you to walk across a 15-foot long by 6-inch wide plank, and bet you a sum of money, what are the chances you’d take that bet? Consider two scenarios…
If I suspended the plank across two cement blocks about three inches above the ground and bet you a dollar you couldn’t cross without falling off, you’d take that bet in a second.
Now, take that same 6-inch plank and suspend it between two buildings. Fifty stories up. And instead of a dollar, make it $100. The size of the board has not changed. Everything else around it has. That’s the comfort factor.
So knowledge and comfort go hand-in-hand. If you know more about a subject, whether it’s poker, geology (think mid-term exams), cooking, banking - you’ll be more at ease, more comfortable. And we perceive that comfort lessens the risk.
And that’s my real definition of small-stakes - a level that you can play at where you are comfortable having your buy-in “at risk.” The theory is that as you learn more about the game and learn to play better (and actually do have success), you may increase your buy-in level (so that you can win more). Or not - it’s whatever level you feel comfortable at. And remember - more poker players play at small-stakes levels than at any other level, so you’re in good company. So with our new definition of small-stakes, let’s learn how to be king!
WAIT A MINUTE
You might be thinking, “If all that matters is the dollar amount, and the skills required are the same, why can’t I just go read some of the other poker books out there by the recognized experts of the game?” Well, you can, and you should. I am hopeful (and half-expecting) that you’ve already read some of the poker classics, from Brunson, Harrington, Caro, Sklansky, Hansen, and the like. I would also recommend the “Winning Poker Tournaments One Hand at a Time” series, and there are many other good books. But this book is different. Not better, but more specifically targeted to small-stakes tournaments. And there is one major reason why. Say it with me: “It’s different down here.”
Small-stakes tournaments do not play like the higher-stakes. One might wish it were so, but it’s not. Some have argued that this is a good thing, as what makes small-stakes tournaments different makes them exceedingly easy to beat.
I beg to differ. It’s not that you can’t beat small-stakes tournaments, and with regularity, but you can’t use some of the tactics that would be suggested for a $210 buy-in tournament at a 50 cent SnG. Just can’t do it. Like bringing a knife to a gun fight.
What makes a small-stakes tournament different? Aren’t there fewer sharks and more fish? Yes, and that’s both the good news and the bad. The good news is that the fish are easier to find and figure out, easier to read (they don’t play a complex game at all), and overall, they’re easier to beat. But because they aren’t playing “metagame” poker, or thinking about semi-bluffs and tracking your last three moves, this is also what makes them dangerous to your “standard” mode of play.
DANGER AT EVERY CURVE
Think of a school crossing. If it’s by the high school, you pretty much expect that the students will actually look out into the street before attempting to cross, so you take the necessary precautions as you approach the crosswalk. After all, they’ve used the crosswalk hundreds of times and know what to expect.
But a crosswalk at the elementary school? They’re just little tykes, thinking about their friends and recess and story-time and they’re not experienced in crossing here and LOOK OUT! Is it any wonder that many elementary schools have adult cross guards on hand to help the little ones get across safely? The kids have no idea what they’re doing, and because of that they can cause havoc with your driving.