Tuesday, May 5, 2009

Limit Holdem

As the title suggests, I've been playing, pretty much exclusively, limit holdem lately. Some thoughts about limit holdem: frustrating, swingy, irritating, vomit-inducing, and finally, the reason I play: profitable. Admittadly, much of my profits lately have come through clearing my deposit bonus, but at the same time I'm not receiving anywhere near my full potential in rakeback because I'm also getting a bonus. At least thats how I understand it. As far as I know, I should be able to make a decent profit on rake once my bonus clears out.

One final note on my play lately. I've been playing the .25/.50 games and the .50/1 games. Variance is pretty big with my bankroll especially at the .50/1. I tend to start playing in a good mindset, then my graph takes a nosedive as I catch a few bad beats or get cold decked and before I know it I'm down $20 or more. Right now I'm playing 4 tables, and I sit with $20 on each table. This is how it usually goes:
1. Don't win a hand for a few minutes suddenly down to $17 on each table (thats -$12 !)
2. Win a few hands on 1 table lose on others
3. Get cold decked/drawn out and have like $13 at a table
4. Win a huge pot on another table and at $25 there
5. Lose/win/lose/win
6. Get drawn out on again on find myself with 3 bucks on one table
7. Rebuy for another $10 there
8. Win all my money back plus like $3 dollars through sheer determination.
9. Go make a bologna sandwich and watch a movie.

The thing is, the rakeback/points/bonus clearing is so juicy at these levels its hard not to play. When I break even, I'm actually winning. When I'm winning I'm REALLY winning. When I'm losing, well, I'll just sit there till I break even again. That kinda sucks sometimes, and it IS risky. Who knows how long the cards can go against you. I think it may be wise to slow down a bit in the future.

Current Roll: $214.99