PokerWorks

Saw this on a forum this week:

"I turn 21 next year, and will get to play poker live at the local casino.  I start in May 2009 with a bankroll of $1000. What can I do to improve my results?

Here are my suggestions for the intrepid youngster:

1. Don't quit your day job/school. Your bankroll is too small for sustained live play. Casinos do not lay limits that fit your bankroll. Limit $2/4 is probably the lowest you might find and for that limit a $1600 bankroll's best.  Also the rake at that level is almost impossible to beat. Although, you may find a no limit game, with a minimum buy-in of $50, most require a $100 buy-in, and that puts you in the game as a short stack, with 10% of your bankroll. Most experts recommend 50x the buy-in for no limit play.

2. Consider limit play instead of no limit. In no limit play you can win the first nine hands, but lose it all on the tenth hand, with a draw-out by your opponent or a simple mistake by you.

3 Read "Play Like Johnny Chan" by Johnny Chan. If you can’t find Chan's book, Phil Helmuth’s book, "Play like a Pro,” is almost as good.  (Ignore Helmuth's post flop advice. Most of his play is based on expert reads that few beginners have mastered.)

3. For limit play also read Krieger's "'Hold’em Excellence," or if you are from California or another area where "No Fold’em" is the typical game, substitute "Winning Low Limit Hold’em," by Lee Jones.  For no limit, read "No Limit Texas Hold’em, Theory and Practice” by Miller and Sklansky.

4. Read Mike Caro's "Book of Poker Tells.” After you finish, put "Read 'em and Reap," by Navaro, on your reading list. Play live for a few weeks before reading Navaro. You should practice walking some before you try to run.

5. Get a copy of Turbo Texas Hold’em by Wilson software or Hold 'em Inspector. Both applications have very flexible simulators that will allow you to set up specific situations and run millions of sample hands. First develop good starting hand standards. Then look at the results of flush or straight draws, and the other problem situations that often cost beginners money.  Although both programs are for limit the results still have significant implications for no limit as well.

6. Practice Poker online.  The micro-limits often resemble the low limit live games, and even the play money tables can provide learning opportunities. If you are not American, I suggest you play the dime freerolls on Blue Square Poker.

7. Avoid live tournament play. The fees charged by most casinos for live tournaments are significantly higher than the 10% you will find at Internet poker sites like Everest Poker and BoDog Poker.

8 "The Psychology of Poker, 'by Shoonmaker, Knowing your opponent is always important, but in poker, knowing yourself and your own motivations may save/earn you more money

9. Consider putting most of your bankroll online instead of risking it live. Online, the low limits appropriate for your bankroll are always available. Additionally deposit bonuses aren't available at your local casino. These bonuses can help increase your bankroll.  At the casino you might get a free buffet ticket. Additionally; tips for dealers and waitresses, free alcohol, and the egos often found in live play, make online play a better training ground.

10. Study the game the same way you would an important school subject. Keep good notes on your play. Remember the result doesn't matter. Did you make good decisions during the hand, and were there ways you could have maximized your profit, or minimized your loses.

GL
Jb