The Race - Conclusion

When I first looked at Carbon poker's "The Race" promotion I was sure it was going to be a slam dunk pile of cash for me. It was on the border of too good to be true at first glance, but the deeper I dug the worse and worse the promotion got.

Why did I believe that this was going to be such a big deal? The reason is poker sites need players. The more players they have the more than can expect to get. If I know there are going to be games going on a site at the stakes I'm interested in I'll keep money on that site and check it often. If they don't have the players once or twice I might never look back.

For the casual player it's hard to find a reason to NOT play on pokerstars. If you want to play $5/$10 limit poker on Carbon you'll probably find one game going. It might be 2 on the weekend or zero on a weekday morning. If there is one game you might have to wait 15 minutes to get into it. That's not long at a card room, but it's forever sitting in front of your computer. On the other hand pokerstars will have somewhere between 10 and 40 games going 24 hours a day. Right now (11 am on a Thursday) there is one $5/$10 game on Carbon and 20 on pokerstars.

What about no limit? Let's look at a popular level like $1/$2 blinds NL. On carbon poker they have eight 6 handed games going (4 of them actually have 5 or less players) and zero 9 handed games. Not bad right. Well pokerstars has 75 6-max games and 60 9 handed games going.

It's hard to compete with that huge load of games. Never longer than 30 seconds to get into a game and if you don't like the players, pick a new game!

The only way to lure players away from pokerstars to other sites is promotions. I thought The Race was carbon making a huge push to lure players away. I thought they might be willing to lose money in the short term to bring in new players and fill up their tables. I was wrong.

After my last post about The Race I realized when I put all of the promotions together I was making about 68% rakeback. I get a flat 75% on cake and on Absolute if you pile up the rakeback, rake races, deposit bonuses, and absolute points it's over 70%. Plus the games are better on AP.

So I bailed on the race. I completed 9 levels and made about $500.

WSOP Warm Up

I've been playing a few multitables here and there in an effort to get ready for the WSOP. Yesterday I finished 2nd of 137 in a $55 NL hold'em tournament which paid $1,200. That's not off the charts money by any means, and the field wasn't exactly loaded with pros, but it was still good for some momentum heading into the series.

Also in an effort to warm up for the WSOP, I'll be playing two tournaments in person just before I head out to Vegas. Both tournaments are taking place at Lucky Chances in Colma, CA. The first is on Sunday and features a $550 buy in and a guaranteed 1st place prize of $40,000. The second is on Monday, has a $330 buy in and a $20,000 1st place guarantee.

My guess is that each tournament will have about 200 entrants and feature the regular bay area tournament players. Hopefully I can book a nice cash and go into the WSOP feeling sharp. I'll let you know how it goes.

WSOP 2010 Starts Tomorrow

While I won't be in Vegas until June 8th, the 2010 World Series of Poker kicks off tomorrow with 57 bracelet events with buy ins ranging from $1,000 to $50,000.

I spent an hour this morning sitting at Starbucks reading Bluff Magazine and it feels like just about every article in the June issue is about the WSOP. Reading about how many of the big name pros are getting excited about the series makes me excited to get there and start playing!

I have a very positive feeling about this year which will be my 6th at the WSOP. I have more experience under my belt and compared to many of the players I'll be an old veteran.

But there are other things working in my favor as well. For one I've lost 20 pounds since last summer (Almost 30 since January of 2009). Playing from noon until 2 in the morning takes it's toll on everyone and I'm hoping that my improved physical fitness will help me deal with the long hours.

Another advantage I'll have over many of my opponents is I'm totally Vegased out. When I was 21 and even when I was 25 (I'm 30 now) I wanted to go out and get rip roaring drunk and gamble it up non stop! Hit me! Yo eleven! More Whisky! Clackity clack!

I've spent over 100 days in Vegas over the past 10 years (Plus a few dozen in Tahoe, Reno, Atlantic City, etc.)and I've had my fill. I still have fun playing negative EV games with my friends, but I no longer feel like spending time in my hotel room is wasting precious Vegas moments. While many of my opponents will be getting shit faced, trying to get laid, going to clubs, getting lap dances and playing craps long into the night, I'll be asleep.

Also working for me is, I've done this all before. I know where the bathrooms are and that I have to leave the table 20 seconds before the breaks start (have you ever seen 2,000 people get up to go to the bathroom at the same time?). I know where I like to eat at the Rio on dinner break and to not eat too much and cause a food coma. I know that I need to bring a snack to get me from the noon start time to the dinner break. I know that if you drink a red bull and a coffee you're going to miss two hands while you go take a piss. I'm not star struck by any of the players (Phil Helmuth? Yeah I've played against him 3 times, busted him once and saw him almost eat a graham cracker he found on the floor - REALLY!). I'm extremely good looking which distracts all of my opponents and lulls them into submission. I know it takes about 16 minutes to get from a room in the Masquerade tower at the Rio to the Amazon room. Did I mention the bathrooms, because that really is a big deal?

It really is exciting. There is nothing like the feel of a fat roll of hundred dollar bills in your pocket and peeling off 20 or 30 of them like it's nothing to buy into one of these tournaments. Or even better having so many that you need to carry around $1,000 chips instead because the roll of hundreds is so bulky that it won't fit in your pocket comfortably anymore.

More on the WSOP soon. I really feel like this is going to be my year!

SCOOP Recap

When you add it all up I lost $3,314 in the FTOPS and SCOOP combined. I played a total of 28 tournaments and had 4 money finishes. Under these conditions I'm shooting for something cloer to 25% in the money rather than 1 in 7.

Of course I had my opponent all in more than once with a chance to make the money if I won one of those confrontations in the both the triple shootout and the first heads up matches event. I easily could have (and probably should have) had 6 cashes instead of 4.

Looking ahead, I'm really excited about the WSOP this year. I feel like I've found the perfect mix of tournaments to play and I'm coming into the series more focused than ever. This will be my sixth year at the WSOP, I'm playing 6 tournaments, so I'm going to go on the record and predict a finish of 6th place or better on one of these events!

The action kicks off at the Rio the last few days in May, but my 2010 WOSP will start June 9th.

The Race Days 5-14

When I first saw the race promotion I thought "holy shit, they are giving me $25,000." At first glance it looked like all I needed to do was earn 100,000 points or pay $10,000 in rake to hit all of the race prizes. But then I saw that the list of point milestones were not cumulative targets, but rather 15 individual promotions that had to be hit independent of one another. At that point it looked like I'd need to pay over $30,000 in rake to hit them all.

In an equally disappointing moment I learned that because of my 35% rakeback deal I would only be earning points at 65% the rate of normal players. It makes sense, but I didn't know about it. Factoring that in I'd need to pay an insane $46,000 in rake in one month to hit all the levels.

Also I was expecting (foolishly) that rake back nation would be having their normal rake race for Carbon, which was canceled. That's another $1,000 I thought I'd get.

Also I learned that since I have a rakeback deal I'm not eligible for other parts of the Carbon VIP program.

Add all of this up and instead of making enough from this promotion to buy a car, it looks more like flat screen TV kind of money. I'm not going to look a gift few grand in the mouth, but it's not as earth shattering as I'd hoped.

So far I've earned about 20,000 points which has allowed me to hit the first 8 milestones and pick up a whopping $302.50. I expect to finish the month with about 50,000 which will mean I'll end up making an extra $1,502 from the race.

To get there I will have ended up paying $7,693 in rake. Factoring in the money from the race, the value of the actual points, my 35% rakeback, and clearing of two deposit bonuses, I'll be getting back $5,282 or 68% of my rake. Not too bad at all. Not the 100% I was hoping for at the start, but still solid.

More SCOOP Bad News

I came up short in the $33 and $320 8-game as well as the $55 and $530.

This is a major disappointment, not so much because of the money, but because these should be the tournaments in which I have the highest expected value and I didn't even sniff the money. Frustrating to say the least.

5 tournaments left in the SCOOP: $270 heads up matches, $215 HORSE, $215 NL hold'em, $109 NL hold'em (the low stakes main event - $1,000,000 guaranteed prize pool), and $1,050 NL hold'em (the medium stakes main event - $3,000,000 guaranteed prize pool). The go off in that order starting Saturday morning.

Even in the worst case scenario if I blank in all of these I'll have about $3,000 of my $7,500 FTOPS/SCOOP bankroll left.

Of course the best case scenario is a mid six figure pay day, which is why we play. Let's hope I finish out the 2010 SCOOP with a bang!

Thursday's Action.

$33 and $320 8 game mixed games today starting right now. I'm going to late register. I always like my chances when we're playing more than one game.