Friday 21 September 2012

How to be luckier (part 1): Perspective

This is the first part of a new series for my blog in which I will take some thoughts from my head and attempt to explain them in words. Hopefully I will make some sense along the way.

How lucky are you?

Luck is an ever present force in poker. Every big pot you lose after starting with the best hand is a cruel reminder of the terrible injustice present in this universe. 

But luck is a difficult concept to pin down. Are some people luckier than others? If I experience good luck today should I consider myself lucky and expect more good luck tomorrow? Or does it all balance out - so good luck today means bad luck tomorrow?

Wikipedia defines luck as "good fortune which occurs beyond one's control, without regard to one's will, intention or desired result."

So luck is a name we give to outcomes beyond our control. However, I think we often jump to conclusions about luck before we consider all of the outcomes.

For example, imagine you're traveling home on a cold, dark night and you're running as fast as you can to catch the last bus of the day. Just as you arrive the bus pulls away from the station and you're stranded, forced to spend the night in a cheap B&B with no wi-fi and a lumpy mattress. Pretty unlucky, right?

At breakfast the following morning you read the papers and find out that the bus crashed. Luckily, (there's that word again) no one was killed, but everyone sustained minor injuries. I bet you feel pretty lucky that you missed that bus now.

Weeks later you find out that the passengers sued the bus company and all received thousands of pounds in compensation - all for a few scratches and bruises! Missing that bus has cost you thousands of pounds! How unlucky!

NOW suppose that the excess money leads all of those passengers to develop dangerous drug addictions... (OK, I think we can stop there).

The point is that the perception of luck is a matter of perspective. In this example our perspective changed because of unforeseen future outcomes. Often we jump to conclusions prematurely.

Let's apply this logic to poker. Imagine I'm on the bubble of a $100 6-max SNG and all three players have equal chip stacks. I end up getting all my money in pre-flop with AA vs an opponent with KK.

Pretty lucky right? There's no way my opponent could have folded KK, and if the hands had been reversed they would've been played the same way. So I was really lucky to get my money in as a huge favourite, rather than a huge underdog.

But wait... before I've even finished my fist pump the board brings an unlikely third king and I bust out of the tournament. Talk about unlucky! Why do I even bother? I can't even win when I'm a huge favourite! The idea that I could have just as easily had the kings is long gone and I now feel cursed by the universe.

OK, the tournament is over and I lost, so there can be no more future outcomes to change our perspective, right?

But wait... because I busted I finished that game early. So maybe I start the next game earlier, and that sets me off on a chain of different games, decisions and outcomes that I wouldn't have been on had I won the first SNG. What if I go on to win the next 10 SNGs in a row? I wouldn't have even played those games if I'd won the first game, so now I feel pretty lucky (or at least I probably should).

Poker is one long session. Until you stop playing for good future outcomes are never fully decided. The influence of that first game would continue into my next session and set me on a different life path. Is it a better or worse path? There's no way of knowing. So why worry about it?

One final example, what if after I lose that first game I go on to lose every other game for the rest of the day and feel tilted and depressed. I guess that has to be somewhat unlucky?

Well again, there's no way to truly know. Naturally I would have preferred that not to happen, but it's not the end of my lifelong poker session yet. Besides, poker isn't the be all and end all. I can take a step back and remind myself that I was born in one of the wealthiest countries in the world. That I have a family who loves me. That I was lucky enough to get married this year to my best friend in the world. That I get to play poker for a living. That I have cats. That I ate a delicious slice of chocolate cake 10 minutes ago. The list goes on!

My point is that luck is not only a matter of perspective, but that we also have a choice in where we base our perspective. Eventually, whether I consider myself to be lucky or unlucky isn't down to external events, it's down to me!

TL;DR Luck is a matter of perspective, and it's often difficult to know which perspective is correct due to unknowable potential future outcomes. Because of that, perception of luck is often a choice.
 
Hopefully that made sense. Next Friday I'll cover the next installment in the series: How to be luckier (part 2): Hard work.
 
Until next time, good luck.

David

Thursday 13 September 2012

Why So Serious?

After a solid start to the year Poker has really taken a back seat for me over the summer. Between running around like a madman planning my wedding, getting married, going on honeymoon, family holidays and catching up with friends I didn't put in many long sessions at the tables.

But now the summer is over, the nights are drawing in, and it's time to get serious about poker again. For the remainder of the year I plan to treat poker like a business and do some serious grinding! In particular I plan to focus on:
- Building and maintaining a more consistent routine
- Learning a new game (HU Hyper Turbos)
- Working on my mental game
- Working on my poker game away from the tables
Combined, all of these activities will help me to maximise my hourly rate in the months ahead.

As part of my new routine I'm going to update my blog every Friday. I've had a few suggestions and I've got some good ideas for blog posts, so look out for them in the weeks ahead!

I'm going to start by taking a look at an interesting hand I played this week:

PokerStars Hand $58.74+$1.26 USD Hold'em No Limit - Match Round I, Level III (20/40) -
Table '611403004 1' 2-max Seat #1 is the button
Seat 1: Villain (525 in chips)
Seat 2: Albumfiller (475 in chips)
Villain: posts small blind 20
Albumfiller: posts big blind 40
*** HOLE CARDS ***
Dealt to Albumfiller [5c Kd]
Villain: calls 20
Albumfiller: checks
*** FLOP *** [7h 3c 4s]
Albumfiller: checks
Villain: bets 50
Albumfiller: calls 50
*** TURN *** [7h 3c 4s] [4d]
Albumfiller: checks
Villain: bets 160
Albumfiller: calls 160
*** RIVER *** [7h 3c 4s 4d] [Ac]
Albumfiller: checks
Villain: bets 275 and is all-in
Albumfiller: calls 225 and is all-in
Uncalled bet (50) returned to Villain
*** SHOW DOWN ***
Villain: shows [9c Qd] (a pair of Fours)
Albumfiller: shows [5c Kd] (a pair of Fours - Ace+King kicker)
Albumfiller collected 950 from pot
*** SUMMARY ***
Total pot 950 | Rake 0
Board [7h 3c 4s 4d Ac]
Seat 1: Villain (button) (small blind) showed [9c Qd] and lost with a pair of Fours
Seat 2: Albumfiller (big blind) showed [5c Kd] and won (950) with a pair of Fours

To provide some context there had been a fair amount of back and forth so far in the match and the villain is a fish who had been playing particularly aggressively post-flop.

Pre-flop on the button Villain was raising around 55% of his hands and limping around 25%. K5o will be well ahead of his limping range and a strong case could be made for taking a more aggressive line and shoving pre-flop (as my hand has good showdown value but isn't easy to play post flop). On this occasion I opted to check and see a flop.

The flop is actually a pretty good one for my hand. With our villain folding the bottom 20% of his range he won't have connected with this board too often. Since I expect the villain to raise all aces, kings and pairs pre-flop I can expect my king high to be good here a lot of the time. On top of that I also have a gutshot straight draw for a little extra equity in the rare cases where I'm behind, so it's an easy flop call vs an aggressive villain.

The turn pairs the board. Good news - if I was ahead on the flop I'm still ahead now. The villain now fires 160 into a pot of 180. This large bet really polarises his range to include mainly very strong hands or complete air. Against some opponents this bet size would set alarm bells ringing, but against a villain with an aggression factor of 8.0 it's less cause for concern. 

What value hands is he representing? An overpair that was limped pre-flop, a flopped straight, a flopped set (now a full house), or trip fours. I think it's unlikely he would make such a big bet with a pair of sevens (especially as we can discount A7 from his range). Furthermore I expect with all of those value hands the villain would be likely to bet less in order to entice me to call. Add to that the fact that I expect him to continue with almost all of his bluffs and this looks like a pretty straightforward call.

Finally on the river the ultimate scare card comes - the dreaded ace. This is actually a good card for me. In the unlikely event the villain was betting a seven or a limped overpair I would now expect him to check (the ace being a scare card for our villain and also A high should be a large part of my perceived range). When villain bets here it's even more likely to be a bluff than it was on the turn, and I was actually able to snap call.

I earned some abuse in the chat box from our charming villain for the call down, but when I break the hand down and look at all of the variables I'm happy with the way I played.

Feel free to call me a fish in the comments if you disagree!

Good luck

David