Tuesday, August 28, 2007

The New Plan for September

I didn't play hand of poker during the stretch from August 5th to the August 19th. This is the longest I've gone without playing poker in the 7 years that I've been playing poker seriously. For those of you who may not have heard the reason why was my wife Jen and I had our first child (Peyton Wesley Huff) on August 9th (you can get all the details and look at pictures on our other blog www.thehuffs.wordpress.com).

I got back to work playing 3/4 days last week and started back with full time this week. So far I've had mixed results. The past few days I've ditched the cash games gone back to playing single table Sit-n-go tournaments (SNG's) which were my bread and butter for years. While I haven't exactly been smoking the competition I've done OK and at least I've felt in control and like I've been making good decisions.

And now, I have a plan! It's critical to have a plan when things haven't been going as well as you'd like. If nothing else having a plan will keep you from thinking "ACK! WHAT THE HELL AM I GOING TO DO!" If the plan doesn't work you come up with a new plan and keep trying until something else works.

My latest plan is to play sixty-five $60 SNG's a day (which should take about 8 hours playing 6 at a time), 20 days next month, which amounts to 1,300 tournaments. I know for a fact that pokerstars will give me 115,050 FPP's for my efforts which will be worth $1,835. If I can make another $2.50 per tournament that will be another $3,250 which along with the FPP money is enough to pay the bills. If I can make $4-$5 per tournament like I think I should realistically be able to do then there will be a few thousand bucks left over for a rainy day.

It sounds so easy when I think about it that way. Of course I am my own biggest enemy sometimes and the only reason why some of my past plans have failed. If I start to do really well early on I have a tendency to lose motivation to play enough volume and if I do really poorly I get frustrated and playing becomes torturous. I'm hoping to have a steady, solid winning month and if I don't I'm going to do my best to hurdle my classic pitfalls.

Another thing that could change the plan is the WCOOP which starts on September 14th and runs through the 30th. I'm still working out how many events I'm going to play (probably 5-8) and if I happen to do really well I'll probably scrap the latest SNG plan since I'll be swimming in dough.

Thursday, August 02, 2007

A Trip to the Oaks

Yesterday my good friend Jake and I made a trip to the Oaks to play a little low limit ($6/$12 limit) hold'em. We've made similar trips about once a month since the beginning of this year with the main purpose being to bull shit and have a few drinks. I am, however, undefeated on these trips so far and even though it's small stakes the wins are starting to add up.

What's amazing to me is how soft the games at the Oaks have gotten. I used to play $6/$12 at the Oaks when I was 21 and still dealing cards for a living. Back then there were a few nut jobs who would come in from time to time, but in general most of the players were OK if not good. In fact there were a few people who would qualify as semi pros (people who count on poker winnings for a significant piece of their income, but have another main source of income). Of course I still dominated, but it took a great deal of advanced strategy and concentration.

Now that we're in the post poker boom days there are two or three times as many players in general and it seems like almost none of them have a clue what they're doing. Players who would have been squashed and busted in no time 6 years ago find themselves winning without much difficulty.

So yesterday when Jake and I took our seats as they started a new $6/$12 game on table 10, we liked our chances of winning. As the day progressed it was as if the table was slightly tilted in our direction and all of the chips we're slowly flowing down into our stacks. After 6 hours we both found ourselves ahead over $500 (a sizable win for that limit) with huge towers of chips in front of us while all of the other players in the game were looking forlornly at the their tiny stacks. Even if they're only $2 chips it's nice to be at the cashier hoping the people in front of you will speed it up because the weight of all the chips you're holding is starting to bother you.

Also I have to say congrats to Jake on the biggest poker win of his life (I think his previous best was somewhere in the $300 range). Jake and I actually started playing poker at the exact same time back in August of 2000 in the Cloyne home game. That game and the long drives out to Cache Creek (an Indian casino about 100 miles from here where you only have to be 18 to play) are how we became such good friends.

Sadly Jake's poker career got sidetracked by a classic pitfall: going to class in college. Jake fell deeper into that hole when he spent the following years going to law school after he finished his undergrad degree. While he was going down that non traditional road, I of course did what every guidance counselor I'd ever had told me to do: stay out until all hours of the night associating with lowlifes while pursuing a job at which almost everyone fails that comes with no benefits and no guaranteed income! Stupid, stupid Jake.

In other news it took less than 36 hours for my $3,700 from Neteller to hit my bank account. Like I said before the timing on that couldn't have been better. I was planning on getting back to work today, but after picking up $500 on what I was planning as a day off, I think I'm going to spend another day unwinding and get back on the horse tomorrow.

Monday, July 30, 2007

Good News and Bad News

I feel like most of my posts have been bad news lately so that's what I'll start with. I'm continuing to struggle and the more and more time that goes by without any progress in the winning department the more I'm starting to panic. I'm not sure what I'm doing wrong, but I'm sure it doesn't help that my confidence is approaching an all time low.

Taking emotion out of the picture is critical for playing your best and I'm doing a terrible job of controlling mine. Every time something significantly bad happens to me I'm getting upset and believe me, you can't play a few thousand hands a day without a boatload of bad stuff happening.

I tried shifting gears a little today and played a combination of about a dozen SNG's and multitable tournaments in addition to some cash games. I lost at everything.

I think the stress of these past few weeks along with the anticipation of having a baby any day now is really catching up with me. I'm starting to feel tense all the time. I've been pretty good about exercising and I think that's helping a little, but I'm really just not feeling great.

Now for the good news which requires a little background! One of the major effects of the anti gambling legislation from last September was the end of Neteller in the US. Neteller was the main intermediary between the banks and the gambling websites. With Neteller not only could you move money from your bank to the websites and vice versa electronically, but it also made it easy to move money between various websites. Also once you had your bank account verified you could make instant (I'm talking 60 seconds) deposits to any and every gambling website, even if you'd never used that site before. To my recollection in 2006 they processed over 5 billion dollars in transactions, 80% of which were for US customers.

Even though the law passed in September of 2006, the shit didn't hit the fan until January of this year. Pending legal action against the top Neteller executives (who had been charged with money laundering) somehow the US government froze most of their assets even though they are an international company. With no warning the company instantly stopped serving US customers and put all deposits, withdrawals, and transfers on hold indefinitely.

I had about $3,700 in my Neteller account when all of this happened. At the time I wasn't upset or worried at all, because they weren't really forthcoming about what was going on. I knew they fired about 3/4 of their workforce in one day so I figured there was going to be some delay in the processing. As the days turned into weeks I sent a few e-mails and basically got the reply that they still had my money and didn't know how long it was going to be before I got it. As the weeks turned into months I pretty much forgot about that money and figured if I ever got it back I'd be happy, but if I didn't it wouldn't be the end of the world.

Today, seemingly out of nowhere, I got the following e-mail:

The NETELLER Plc Group has announced that the distribution of funds to its US members will begin on July 30, 2007.

You are receiving this e-mail because our records reflect that you are a US member who may request funds from NETELLER. As of July 30, you will be able to make a request for funds on NETELLER’s website by signing in to your account. In the meantime, you should visit our online FAQs for more information about the distribution plan.

Please note that US members will not be able to request funds from the NETELLER website after January 26.

I caught this e-mail about 60 seconds after it had been sent and figuring that everyone and their mother would soon be logging on to their account to request their money I instantly signed on (luckily I knew where I'd written my log in info - you need a 12 digit account number, a 6 digit ID, and a password to log in so there was no way I could have remembered it) and requested my withdrawal. I'm hoping that they're going to process the requests in the order that they were received.

I got a little conflicting info on how long it will be before I actually get my money. At one point they said three business days, but they also said they'd be sending 94 million dollars to an untold number of US customers and there might be delays. Regardless it looks like I've got $3,700 coming to me in the next week or two. The timing couldn't be better!

I think I'm going to take a few days off. I just feel totally lost at the tables and I'm hoping a short break will allow me to cool off a little and somehow straighten myself out.

Thursday, July 26, 2007

Good News for Online Poker

Usually I like to write about whatever topic I've come up with for my entry and then tell you about my recent results. Today I'm going to lead with results. I finally had a reasonable winning day and picked up a little over $600 over the course of 2,500 hands. Normally this would be nothing more than a par for the course win, but since I've really had my ass handed to me over the past few weeks, it felt a little sweeter.

Now on to the good news for online poker. I'd read here and there recently that there were a few bills in the house having to do with online poker. More specifically, having to do with licensing and regulating online poker so it would be legal to own and operate a poker site based in the U.S. I didn't know too much about them, other than the fact that the first was introduced in April and that no matter what they said they were a potential massive blessing for all of Huffland.

Today I got an e-mail from 2004 World Champion Greg Raymer (actually it was from Pokerstars, but it had his name on it) which said the following:

I am writing to you on behalf of the Poker Players Alliance (PPA) because we need your help. Congress is currently considering a bill which would clarify the legality of online poker in the United States by creating a regulatory and licensing framework. Please join me in supporting the "Internet Gambling Regulation and Enforcement Act".

The early support of many Congressional Representatives is crucial to the success of this bill. Please call your Representative Fortney Stark today in his Washington, D.C office 202-225-5065. Ask him to cosponsor H.R. 2046 before the August Congressional recess.

Your support is vital. Please take a moment and call today. If you wish to read more about this bill, or to get more information about the Poker Players Alliance, please visit www.pokerplayersalliance.org Thank you for your time, and your support of poker in the United States.

Sincerely,

Greg Raymer PPA Board of Directors WSOP 2004 World Champion and Member of Team PokerStars

I also got a similar e-mail from someone at full tilt and I wouldn't be surprised if I get a few more from other websites. The best news is that there's a chance that the bill could be making it's way through congress before the August recess!!! I thought it would be closer to a year before anything at all would happen so this is great news.

More good news is that the Poker Players Alliance is gaining strength everyday. About a year ago there were fewer than 100,000 members and currently there are over 615,000. I'm hoping that this group (of which I am a member) is going to become a significant lobbying force (former senator Al D'Amato is the chairman).

If you're interested in doing me a favor you can go to the PPA website and right in the middle they have a button you can click on to write your congressperson. If you click on it you'll find three links: one for each of two house resolutions and one where you can thank your congressperson for protecting your rights. Click on one or both of the links regarding the HR's and it will prompt you to enter your zip code so they can have the letter sent to your specific congressperson. Once you enter your zip code you can read over the letter that will be sent in your name, enter your address and e-mail and through the magic of the internet this message will zip off to a congressperson who represents you! For those of you without scruples (Cough, Brain Ridgeway, Cough) you might want to see about sending a pie or some other kind of bribe to add a little weight to your message.

I'm not sure what impact this might have, but it couldn't hurt and if you're anything but a total dunce (Cough, Ridgeway, Cough) it should take you about 3 minutes. I've heard in the past that for every letter that Time magazine gets they assume that 10,000 people have the same thoughts as the letter writer. Of course an electronically generated form letter is going to have about 1% of the impact of a snail mail letter, but I figured I'd ask for your help anyway.

Why would it be such a big deal for there to be fully licensed, legal and regulated poker in the US, you ask? Well let me tell you. First and foremost it would pump literally BILLIONS of dollars into play. The vast majority of people aren't willing to trust a company based in some country they've barely heard of with their money. They think (correctly) that if they website wanted to screw them over and take their money they'd have no recourse. If all of a sudden the MGM corporation opens a poker site they know that their money is safe.

Maybe more importantly the websites could advertise and tell people how awesome it is to be able to play poker in their own home for any amount of money from pennies to hundreds of thousands of dollars 24 hours a day 7 days a week 365 days a year.

The number of new players will skyrocket. People love to gamble, they love to compete and they love to think that they are better than other people at something that matters. Online poker gives people the chance to do all of those things. Of course all of these new players, no matter how smart or how good they think they are, will have 7 years less experience than I do. It will be like a bunch of dudes with swords charging at me when I'm holding one of those machine guns with the six spinning barrels that former Minnesota Governor Jesse Ventura used in Predator and current California Governor Arnold Schwarzenegger used in Terminator 2.

Another benefit will be increased competition between the poker sites. Right now there are only a few big websites and while they have some level of competition it's not anything close to what we'd see if the American floodgates opened. Dozens of websites would offer crazy promotions as they clawed for market share and I would take advantage of all of them.

At a minimum it would be worth an extra $5,000 a month to me for these bills to go through congress. I'm drooling just thinking about it.

Wednesday, July 25, 2007

Still Struggling

Yesterday I was determined to have a winning day. I dropped down a limit where playing for half the stakes I was hoping to run over the weaker players. I lost a few significant hands as soon as I sat down and spent the entire day playing from behind. Normally in a full day I try to play 3,000 hands. When that mark came and I found myself losing about $100 I decided to keep playing to try to book any kind of win. Around hand 4200 I found myself ahead $7 (yep, seven dollars) and I was prepared to quit. But I got a few good hands which I had to play right after. I lost them as well as a few others and by the time hand 4500 rolled around I was behind about $300 with nothing left in the tank. At that point I'd been playing a new hand (which might require a half dozen decisions or more) every 8.8 seconds for 11 hours (It actually took 12 hours because I took an hour for lunch). That's a real mental workout.

4,500 hands is a ton of hands. To put it in perspective, imagine that you had a fairly serious home game with your friends. Every Saturday you get together and play for 5 hours and since you're all paying attention, but you don't have a professional dealer it takes 3 minutes on average to play each hand. Remember someone has to shuffle and deal the cards every time in addition to playing out the hand. In this scenario you're looking at 20 hands an hour (if you played like they do on TV or in the movies it would be more like 10 hands an hour). If you never missed a Saturday (or a hand) it would take you more than 10 months to play 4,500 hands.

In the main event of the WSOP the winner of the main event played around 3,000 hands by my estimation after a week and a half of starting at noon and going until after 2 am on a daily basis.

The point is 4,500 hands is a long time in the poker world and as someone who had been a poker pro for 4 years now, I should be able to beat a bunch of second rate players over the course of 4,500 hands with any run of cards that isn't totally fucked. With the exception of maybe the first or second time I ever lost $300 in a day (6+ years ago), this was the most disappointing $300 loss I can remember. Even though it wasn't a major amount of money it still felt like a crushing defeat.

I played at the lower limit again today and after about 2,500 hands I managed to win $17. The good news is at least I broke my losing streak. The bad news is at that rate it's going to take me 82 days (with no days off) to get back what I lost in the preceding two days.

Actually the best news is that one of my strengths in bounce back. While I might be really feeling it after a big loss (or a string of losses), by the next morning I'm almost always back in a good frame of mind. That's probably because despite any complaining I might do about bad luck I have about as good a life and any reasonable person could ever hope for.

Monday, July 23, 2007

What It's Like

Imagine that you have a normal office job (this won't be so hard for some of you). You like your job and you feel like you do it pretty well (this will be more of a stretch for a few of you :). When you show your boss (Mr. Bossy) your work he tells you what a great job you've been doing. You are proud of your work.

Then one day you come into work and for no reason at all things have drastically changed. You feel like your work is the same, but when you show it to your boss he tells you it's crap. You are surprised, but are willing to accept that maybe you had an off day. So you work harder. But, still your Mr. Bossy isn't happy at all with your work. You try even harder, but if anything the results are even worse. To add insult to injury you notice that one of your coworkers Mick Moron who you were sure would be fired any day is getting loads of praise from Mr. Bossy. The company is going to give him a big raise and a promotion even though you know for a fact that your work is much better than his.

"Well," you think. "This is hard to put up with, but at least I'm still getting paid." WRONG! When you look at your check you discover that the company claims they've over paid you so not only are you not getting paid for the past two weeks, you now owe them $5,000! It sure seems like it would be hard to go back to work the next day when you have no idea if it's going to be fine and you're going to get paid or if it's going to be miserable and it's going to cost you even more.

In March 2006 I lost just over $11,000. I had one day where I actually won $10,000 and somehow I lost $21,000 over the other 30 days. That was by far the worst run of my poker career and certainly not a month I'd like to relive. These past two weeks have been the second worst run of my career. I sat down today after taking a few days off to try to regroup, feeling like I'd be fine with a break even day. Instead I lost $1,100. I can't remember the last time I was this frustrated.

Friday, July 20, 2007

A Comment Response

My friend Mike left an interesting comment after my last post which read:

Hey Dave,

I think you probably know more about this than I do, but I'm pretty sure that it's statistically valid for "luck" to clump into cycles. Regardless of skill I think it would be impossible for any professional to play full time without slipping into the occasional slump. Even the top players in the world.

So, hopefully you can stay focused on your long term results. As long as you are able to reach your overall goals, I assume it's part of any up and down profession to save up during the feast and draw on that during the famine.

In the meantime, I wonder if any pros consider it a good idea to switch gears a little during apparent downturns? Maybe play some limit so that bad beats aren't so costly? Or play some tournaments which limit your risk to a fixed amount while offering you better payoffs for hitting? Maybe not big MTTs but a two or three table SnG? Even just for a day or two to break the rhythm a little, to a layman like me it seems worth considering. Is there a prevailing wisdom about that?

It's certainly true that every poker pro goes into slumps and part of the job is peaks and valleys. What's interesting is the people who we think of as "The best players in the world" have enormous swings in their fortunes because they're playing big multi table tournaments. These guys will probably have 9 or 10 losing months every year, but their wining months in most years will be so big that they more than make up for all the losing. I've had 3 losing months in my 48 as a poker pro and all of them have come on the heals of some major winning months. In every case I took some extra chances and more drastic risks in an effort to hit it big and it ended up costing me. I don't feel the least bit bad about it though, because part of improving is testing your limits.

As far as feast and famine goes, I feel like I've done a good, but not great job of putting away my winnings for a rainy day. It's hard to not spend a little more when you've been winning like crazy because it feels like it's going to continue that way forever. But I have been smart enough to never make any major purchases just because I had a big win (with the exception of my wife's engagement ring).

As far as switching gears goes, I think whenever you've been losing it's important to go back to whatever it is that you do best. I'm sure some people would wonder why wouldn't a pro always play what he was best at. The issue there is, the form of poker that's makes you the most money isn't always the one that's the most fun. The problem I'm having is I'm not sure what my best bet is anymore. I used to think it was SNG's, but my results over my last few thousand SNG's aren't great. On the other hand my NL cash game numbers over the past 4 months are very good, but I just can't seem to make it work lately. I can say for sure that I need to avoid the fluctuations with multi table tournaments (even though that's what I enjoy the most) and I have no business playing limit cash games for any serious amount of money online.

What's interesting is other good players go through phases where they play different games at different limits as well. If other pros decide that they're going to play 8-10 $2/$4 blind NL cash games every day at the same times as me for a month, even though I'll end up playing against well over a hundred opponents every day, having those two or three guys in all of my games (you can't dodge them if they're in every game!) can severely impact my bottom line. On the other hand if they all decide for whatever reason to all of a sudden start playing tournaments or bigger or smaller games, instantly my expectation goes up.

I decided to take today off to relax and regroup. Happily, since I've had a few nice months recently the immediate reserves we're topped off so even if I break even or lose a little bit for the rest of the month we won't have to dip in the major back up reserves which are all in the stock market.

Thursday, July 19, 2007

Totally Stalled

I won about $200 yesterday, but I managed to lose $500 today. I was ahead $300 when I took my lunch break (about 2/3 of the way through my work day) and feeling like I'd turned the corner and was back on track. Then I came back and all of a sudden I couldn't win a hand. At one point I had $400 evaporate in the span of literally 45 seconds when I lost three significant hands on three different tables simultaneously. On one of them I was an 11 to 1 favorite when all the money when in on the turn, in another I was a 5 to 1 favorite on the flop and on the third there was only one card in the deck that would complete my flush draw and make my opponent a full house and that's the one that came on the river (if any other card comes at least I wouldn't lose all my chips and there were 8 that would have made me a winner).

It sounds like terrible luck, and it is, but at this point I'm starting to think that I'm doing something horribly wrong. I just can't seem to win. Like I mentioned in my previous post it makes no sense! I've been winning steadily since the middle of March when I switched to cash games, but for some reason I just can't make it happen lately. I'm trying to have a good attitude and tell myself that it's going to turn around. But after ten days of punishment it's hard to feel anything but frustrated and upset.

I'm sure part of the problem is I'm losing my composure much more quickly than I normally would. I do my best to not let it impact my play and for the most part I feel like I'm doing a good job, but there's no doubt that my emotions are not helping. Another downside is it sucks to end my workday feeling really pissed.

My goal tomorrow is to win $1. We'll start with that and see what happens.

Tuesday, July 17, 2007

One Step Forward, two steps back

In the immortal words of Will Ferrel in the movie Zoolander, "I feel like I'm taking crazy pills!" After winning $5,300 in the first 9 days of July without a losing day, all of a sudden I'm getting smoked every time I pick up the mouse. In the last 8 days I've dropped $3,300 playing the same way in the same games. It makes no sense!

The only explanation I have is I'm in the midst of a massive run of bad luck. Either that or on July 10th someone stole my brain and replaced it with a bowl of oatmeal. What I could really use (in addition to a stiff drink) is a total no brainer good day tomorrow. A day where I'm faced with almost no tough decisions, my cards are so good that I couldn't possibly screw it up and my opponents do a bunch of stupid shit that works to my advantage. I've had plenty of days like that in my career and what I really want is one of those days tomorrow. Not the next day, not on Saturday, but tomorrow! Because I'm getting really frustrated and not only is this bad run getting expensive, but it also makes working a miserable chore.

Thursday, July 12, 2007

The World Championship of Onine Poker (WCOOP)

The WCOOP is the largest and most prestigious set of poker tournaments in online poker. Much like the WSOP the, WCOOP grows a little bit every year. When they started running the WCOOP in 2002 there were only a handful of events and first place in the main event was only $65,000. Two years ago, the first year that I played, there were 15 events and last year there were 18 with a main event first prize of over $600,000. This year there will be 23 tournaments (starting on September 14th) with buy ins ranging from $215 on up to $5,200. Here is a link to the full schedule of events.

I'm not sure how much I'm going to invest in this years WCOOP or how many events I'm going to play. Some of it will depend on how my results are between now and the middle of September and we'll have to see how having a new baby around impacts our finances. If someone dropped $100,000 in my lap right now, I'd play 15 events with buy ins totaling about $8,000. If I don't have anyone investing, I'll probably play 7 events with buy ins totaling around $2,000.

I expect that other people will have some interest in betting on me, even though I haven't exactly brought home the bacon for my backers in the past. Since I'm interested in playing as many events as possible, I'll gladly except backing from anyone for pretty much any amount. If you're someone out there like Tom (Hey Tom) and you want to take a $100 shot so that reading this blog is more interesting for a few weeks in September, send me an e-mail (wesdave1279@yahoo.com) and you can join the team of people with financial interest my 2007 WCOOP.

Unlike the WSOP where I've pretty much gotten my ass handed to me, I've done pretty well in the WCOOP in the past. I've made the money in about 20% of the events I've entered and I've had a few where I was knocking on the door of the big money when I got eliminated. It's important for my long term career to keep trying with these big tournaments and if I keep trying eventually I'll have another really big hit like I did in August 2005. It would also be nice to win some money for the poor saps who've been striking out along with me for the past few sets of big tournaments. I'll have more on the WCOOP and my plan when the time gets a little closer.

My WSOP 2023 Plans and Missions

After four and a half years working for StubHub I wrapped up my time there in March. I've been at the poker tables 3-4 days a week since...