Honesty Box (poker post)
Friday, 9 September 2011
Okay, so, the WCOOP has started and it’s gone okay so far. It’s gone very well really, because I’ve played four events and cashed in two of them. But in both of the cashing events it felt like I got really unlucky late on and failed to make really big scores, so there are mixed emotions involved.
Anyway, I’ve decided to be brave and keep a tally here (on this thread) of the WCOOP events I play and how I get on. Obviously that feels easy to do right now because I’ve cashed in 50% of played events and I’m in profit. It might not look so clever in a couple of weeks’ time if I’ve played eight more and gone miles behind. But hey, that’s the whole point of being honest - taking the risk that it isn’t always good news. All my positive tournament results are published in a table elsewhere on this site but (as with all professional players’ published results) it doesn’t show the losses.
So, what the hell, let’s have an Honesty Series with the losses published as well as the wins. If the final figures are horrible at the end of the WCOOP, well, I’ll consider it a useful lesson for fellow players to see how hard it can be to make a living from tournaments! Cash games and cheap satellite entries FTW…
I’m not quite sure how to report profits, because I’ve been buying into these events with VPPs (frequent player points) rather than cash, so any return is all profit for me. And I’ll be playing the main event courtesy of those kindly people at PokerStars. But if I were buying in with real money, obviously I’d need to remove the buy-in amount from recorded profit.
For now, I’ll just put down all results as they come in, updating the post each time I play an event, and then at the end maybe I’ll add a table showing profits with and without the buy-ins factored in. It may be the most boring thread of all time, of course. If you think so, no need to check back! But if you’re interested to see an honest account of a player’s online series, here one’s going to be…
1) Event 1, $215 6-handed NLH
Finished 325th/7500, cashed for $585
2) Event 3, $215 NLH
3) Event 11, $320 Ante Up
Finished 52nd/1467, cashed for $1,144
4) Event 12, $215 Heads Up
5) Event 14, $265 6-Max Knockout
Finished 965th/3568, cashed for $100 (in bounties)
6) Event 18, $320 NLH Turbo
Finished 244th/2295, cashed for $620
7) Event 21, $215 NLH
[I’d like to note about this one that I went out in a huge pot where I was 92% favourite! *92%* !!! And lost. $0 is a very unfair reflection!]
8) Event 22, $530 NLH
9) Event 22, $320 Second Chance
Finished 9th/793, cashed for $3,045
10) Event 23, $215 4-Max
11) Event 26, $320 Mixed Limit
12) Event 32, $320 6 Max
13) Event 32, $215 Second Chance
Finished 43rd/488, cashed for $488
14) Event 33, $320 Omaha 6 Max 1R 1A
15) Event 38, $530 Heads Up
[Out with a flush v a pair of tens! He hit a bigger flush! Not quite 92% as above, but still… nasty…]
16) Event 40, $215 NLH
17) Event 42, $1050 NLH
18) Event 44, $320 NLH
19) Event 45, $265 Turbo
20) Event 45, $139 Second Chance
21) Event 52, $320 NLH
[Another sick exit: 1770 played, 340 left, good chips, flopped a full house against chip leader and - for once - played it perfectly. Got it all in on the turn, 84% favourite. 4-outed on the river. I literally issued a cry of pain at that card. Marvellous…]
22) Event 55, $530 NLH 1R 1A (had both)
23) Event 57, $215 Omaha Hi-Lo turbo
24) Event 60, $215 NLH
25) Event 62, $5000 Main Event:
Finished 451 / 1627 at 4.30am; good run, played well but ran into AQ with AT and, sadly enough, cashed $0
26) Event 62, $1050 2nd Chance
SEPTEMBER 26th: OVERALL RESULTS
So. It was a great start to the WCOOP, cashing 5 times in the first 9 events and 6 times overall. BUT a dry run later, ends up in a loss.
Total WCOOP income: $5,982
Total outlay: literally, only about $1500 because I bought in almost exclusively with Frequent Player Points, only once or twice with cash, and PokerStars put me in the main event. So, technically, I’ve turned FPPs I wouldn’t otherwise have used into a cash profit of about $4400.
However, if you imagine the FPPs were cash (and they do have some cash value), the literal outlay would be $10,154 - so an overall loss of $4172.
And of course if you also add the Main Event expenditure, that’s $15,354 so an overall loss of $9372.
Now, I wouldn’t have bought into the $5200 event with my own money unless I’d won it earlier in the series - and I wouldn’t have bought into so many other events if I hadn’t run up hundreds of thousands of FPPs with my general Stars playing hours that I was never going to spend on clothes or iPads or other items from the store so might as well try to spin up - so these figures aren’t exactly representative of true costs as they would be in normal professional poker life. Personally, I feel like I had a great time playing lots of events to give myself a good shot at a big win, I’m pleased with 6 cashes, I know how close I came with a couple of the bad beats above, and I’m fine with a result of -$4172 (mostly FPPs) and happy when I think of it as +$4400 cash conversion! (not counting the sponsored main event).
Nevertheless, the moral is: it’s hard to beat these things, and with one’s own money the value is always in playing satellites to get in, and choosing events very selectively. For pure profit / professionalism, I played too many events in general and certainly too many events where I don’t really have an edge, eg. 6-max Omaha and hi-lo turbos.
The moral is also: beware pros who show you only high and regular wins! The real figures are often kept guarded… Hope you appreciate the honesty here; I’ve really enjoyed the WCOOP, learned something from looking back at these figures, and wish good luck to all.