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May. 2nd, 2005 09:26 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
peterbirksAn attempt at a table to sum up the month of April.
Without the hours, it doesn't tell the whole story. But that table alone took me about half an hour to put together. I shall have to get a pivot table together that creates it automatically.
The problem is that my UK sites are not incorporated in the US spreadsheet (for a start, the accounting is horrific). I've manually converted the Sterling figures to dollars at $1.90.
Clearly the PLO$100 was what might euphemistically be called "a learning experience". $2-$4 continues to tbe the bread and butter and I still seem to struggle at $3-$6. However, this was Ultimate, which is a pig of a site for limit. About as hard to grind out anything as Pokerstars.
Total hours for the month were 90, of which 50 was at $2-$4 and 54 was on Ultimate. I suspect that the total hours on Ultimate this month (May) will be far less, now that I have cleared the bonus.
This has been easily my worst month since July 2004, when I lost £160. Since then I've averaged plus £380 a month ($720).
This month has started off with a $500 "hangover bonus" boost from Party and Ultimate. So I'm going to try some $5-$10 and see what happens. The only thing to decide is where to try it. I've got a thousand sitting in my Paradise account, not doing much. But the games there have been horrible to me for a year or so now. On the other hand, rumours abound that they have now got softer.
Party is the obvious candidate, I suppose. But the hand-gathering software makes for a lot of sharks seeking fish through use of Pokertracker. This option is not available to them on Paradise.
Without the hours, it doesn't tell the whole story. But that table alone took me about half an hour to put together. I shall have to get a pivot table together that creates it automatically.
The problem is that my UK sites are not incorporated in the US spreadsheet (for a start, the accounting is horrific). I've manually converted the Sterling figures to dollars at $1.90.
Clearly the PLO$100 was what might euphemistically be called "a learning experience". $2-$4 continues to tbe the bread and butter and I still seem to struggle at $3-$6. However, this was Ultimate, which is a pig of a site for limit. About as hard to grind out anything as Pokerstars.
Total hours for the month were 90, of which 50 was at $2-$4 and 54 was on Ultimate. I suspect that the total hours on Ultimate this month (May) will be far less, now that I have cleared the bonus.
This has been easily my worst month since July 2004, when I lost £160. Since then I've averaged plus £380 a month ($720).
This month has started off with a $500 "hangover bonus" boost from Party and Ultimate. So I'm going to try some $5-$10 and see what happens. The only thing to decide is where to try it. I've got a thousand sitting in my Paradise account, not doing much. But the games there have been horrible to me for a year or so now. On the other hand, rumours abound that they have now got softer.
Party is the obvious candidate, I suppose. But the hand-gathering software makes for a lot of sharks seeking fish through use of Pokertracker. This option is not available to them on Paradise.
Results For April
| SITE/GAME | MTT | $2-$4 | $3-$6 | PLO$50 | PLO$100 | BONUS | TOTAL |
|---|---|---|---|---|---|---|---|
| STAN JAMES | ($26) | ($26) | |||||
| BETFAIR | ($49) | $10 | ($110) | ($149) | |||
| ULTIMATE | $105 | ($21) | $162 | ($121) | $125 | ||
| PARADISE | $5 | $5 | |||||
| STARS | $62 | $100 | $162 | ||||
| PARTY | $116 | $116 | |||||
| TOTAL | ($75) | $294 | ($21) | $167 | ($231) | $100 | $234 |
If you play this small...
Date: 2005-05-02 04:42 pm (UTC)DY
Re: If you play this small...
Date: 2005-05-02 05:17 pm (UTC)Actually, the rake (as a percentage of the pot) is lower at $2-$4 than virtually any other game. I just played 90 minutes at $5-$10 (beware, small bad beat story follows) and had the pleasure of 123 hands where I got ONE pair (sevens, went nowhere). Pairs are really your bread and butter profit in limit (and Aces are the butter on the bread). I doubt that any limit player shows a profit if his pairs are excluded.
Anyway, that's by the by. The rake on $5-$10 comes in at 3.2%, whereas at $2-$4 it's 2.96%. Only as you get up to stakes where the pot averages far in excess of $60, does the average percentage rake come back down again.
Remember David, limit does not have a fixed 5% rake on Party, Stars or Paradise, but the first rake only kicks in at $20. (The execrable Betfair starts raking at $5 and moves up 25 cents a time).
I would think that the percentage rake starts falling back again only when you reach $15-$30.
Pete
2nd Re: If you play this small...
Date: 2005-05-02 05:26 pm (UTC)I reckon that I will be paying higher percentage rakes than this at $5-$10 unless I average more than 2bb an hour, but that's a back of an envelope guess.
Re: 2nd Re: If you play this small...
Date: 2005-05-02 06:23 pm (UTC)redsimon
Re: 2nd Re: If you play this small...
Date: 2005-05-02 07:05 pm (UTC)For many reasons, there is a real danger that in a few years time you will look back and realise that you left a lot of money on the table when the games were at their best. If I had your money (which has to be far more than my money), I would never be in a game below $15\30. This isn't a matter of machismo. Why are you allowing other pros to hoover up the money that you should be making?
DY
Re: 2nd Re: If you play this small...
Date: 2005-05-03 01:15 pm (UTC)The reason I jumped into the 5-10 PLO on Party when my tank didnt really quite justify it, was I was worried that the Party on Party would fade out. But I had a job and the advantage of a job is you can take these risks. Like the USAs version of Paul Samuel says, preserve a big bankroll, not a small one.
gl
Dave D
Re: 2nd Re: If you play this small...
Date: 2005-05-03 06:10 pm (UTC)Pete
Economics
Date: 2005-05-02 09:07 pm (UTC)-- Jonathan, near Barcelona