Showing posts with label Suck Out. Show all posts
Showing posts with label Suck Out. Show all posts

Friday, November 20, 2009

Suck Out - A Horse with no Name Recognition - Set to Continue

Okay, it's been a little while, but we're about ready to get back to it.  We only promised that we wouldn't take as long as the Tom "durrr" Dwan Challenge and we're still on track to beat that.


As a refresher for our newer readers (as readership is up considerably since our last Suck out post two months ago).    Suck Out! is the CPL's own Docu-Series on staking. Part One can be found here (Forward/Intro), part two here (Staking), part three here (Backer's Perspective), the Horse's Perspective (part IV) here and the Match 1 results (part V) here. The results for Match 2 are here.  


So, why the delay??  Mostly just life stuff - the wife insisted on repainting the basement.  Sure, it's a nice Viking's purple now, but I'd rather not have had to do it.  Then there's all the winterizing activities you need to do here in Minnesota.  

I was still playing some poker, but mostly OH8 Limit cash games.  I even played an $11 tourney or two, but, I didn't have the right "vibe" for risking someone else's money on it - so those were on "my dime."  Probably a good thing as I didn't cash in any of them.  We're back now and well rested and match 3 will be covered in our next podcast  (not the one we finished last night but the one coming out around Thanksgiving).   


You've got a little time to catch back up on the series as were set to continue next week.


Karaoke Phil




Sunday, September 20, 2009

Suck Out! A Horse with No Name Recognition (Part VI)

Suck Out! The CPL's own Docu-Series continues....Part One can be found here (Forward/Intro), part two here (Staking), part three here (Backer's Perspective), the Horse's Perspective (part IV) here and the Match 1 results (part V) here..enjoy!

Match 2 - Omaha Hi/Lo (OH8) - Single Table SNG
Karaoke Phil

For match number two I chose a single table Omaha8 (Omaha Hi-Lo) sit-n-go. I was the sixth player (9 needed) to sign up and number 7 came in right behind me. Then, in what seems odd to me, Steamroller left our table and signed back up on an empty table. Why would he do that? I've played Steamroller before and had notes. I wonder if he had notes on me and decided I'm too much competition. Maybe this is a harbringer of things to come.

I tried Stud8 in my first match. I probably should have done this - played OH8. While I'm happy with my Stud8 abilities it's pretty much the "youngest" game that I've studied and learned, having begun to play it in earnest less than a year ago. OH8 is a stronger game for me. Let's see what transpires. We'll start with 1500 chips and 9 players in the SNG.

I start out well, nailing a full house on hand 4 to put me up to 1710 in chips. On hand 10 I get a nice A/2/2/6. Donkeypro777, who has played every hand, has three bet (I had raised). I go ahead ans cap the action with position. The flop brings 2/3/5 - all clubs. It's checked to me so I bet it. Donkeypro777 check raises me. I slow down and just call as it seems like he has a flush or an A/4 for the nut low (and a straight). A Q comes on the turn - it's bet/call. Another Q comes on the river. I know have 2s full of Qs and an A/2/3/5/6 low. Donkeypro777 bets out and I raise. At worst I'll split the pot and may well have the best of both sides. Indeed, Donkey does have a nut flush but my boat beats that and he has no low - I scoop and things are really looking good early. At this point I have 2070 chips and am in 2nd of 9.

Several aggressive players in this sng and then there's Donkeypro777 who isn't necessarily aggressive but will play EVERY hand. We loose our first player (AlCapone23) on hand 22. And, Donkeypro777 is kicked out on hand 24.

Hand 27 sees me in the BB with A/3/6/6. Several players limp in so I check my option. The flop is 2/2/6 for a flopped boat of 6s full of 2s. I decide not to slow play this one at all since at least two of the players (Pokerdegree and Coo Saw) in the hand are very aggressive. I think they'll raise my bet and then I can then smooth call to feign weakness. Pokerdegree does indeed raise and I smooth call. The turn is a 5 - giving me the current nut low as well. I lead out again, figuring Pokerdegree will raise again. But, this time Hankitup 2-bets (the other player still in the hand at this point). Pokerdegree 3-bets and I cap with the second nut high and the nut low. I'm thinking I'll scoop or 3/4 this pot. Oh boy, the river brings a 2. Now, I'm in trouble to a 2. I check call (as does Hankitup). Yes, Pokerdegree has a 2 (hitting a three-outer for the high, a 7 would've helped him as well). Hankitup and I split the low and I get 25% of the pot instead of the 75% I was expecting. I hope this isn't an indicator of shifting winds.

I lose several more hands and drop to 765 chips (4th of 7 remaining players). On hand 47 I'm dealt A/3/6/6 in late position. The flop comes 2/4/9 - giving me 4 cards to the nut low. Pokerdegree and Coo Saw (the two most agressive players) are in the hand. Pokerdegree bets out, AHill58509 stays in the hand. The board pairs the four on the turn. I check call hoping for a miracle card - as I now have less than a bet left. BOOM - I spike the 5 on the river for the nut low and a wheel. I sccop the pot and move up to 2185 in chips. That puts me into 3rd place and the tide seems to be changing. We lose DCL on the next hand leaving us with 6 players remaining. After hand 50 I'm knocked down to 1165 in chips but we lose IamJoe829 in 6th place.

In hand 60, I'm dealt 2/2/3/J in the small blind. I'm able to limp in and the BB checks his option. The flop is A/7/9 giving me 4 to the nut low. I bet out and get 2 callers (AHill and Hankitup) . The turn gives me the nut low when a 6 comes out. I bet out and get put all in (again) by AHill58509. A Ten of clubs come out on the river - that gives me a flush as well (one of my 2s and the 3 are clubs). I scoop the pot and move into 2nd place with 3345 in chips.

By hand 70, I'm back down to 4th (of 5 players remaining) but positions 2 through 5 are all within 400 chips of each other. Pokerdegree, by far the most aggressive player in the tournament, has 5155 and leads us all as we head into break.

Three hands after break I get A/4/5/5 (two hearts A/4). I limp in. The flop is 2/4/K with two spades. I call a bet. The 8 of hearts comes on the turn. Coo Saw and AHill are both staying in. Coo Saw bets it up which will put me all in. I click "time" and have 20 additional seconds to decide what do to. I have A/2/4/5/8 for a low and am four flushed for the nuts. This is for my tournment life though and going out in 5th won't be pleasant. I'm down to 5 seconds. You've got to take some chances to win. Plus, I have outs and, maybe, already have a good low. I put in the last of my chips. The river is maybe a miracle - it's the 3 of hearts giving me both the nut low and the nut flush. The worst I can do is nail down 3/4 of the main pot. I scoop the pot and Coo Saw shows a 9 high flush. I'm up to 6165 in chips and am the chip leader.

Two hands later I river the nut low and the second nut high flush to scoop that pot and move up to 7965 in chips. Hankitup is down to about 200 chips and Coo Saw is crippled with about 260. I feel victory coming now. I'm going to take this baby down.

We quickly loose Coo Saw in 5th place and Hankitup in 4th. We're in the money now. AHill58509 is now very shortstacked with about 700 chips. I have 9300 to Pokerdegree's 3500. Pokerdegree proceeds to eliminate AHill58509 and we're heads up (me with 9353 to his 4147).

The blinds are at 400/800. Pokerdegree is able to take the lead about 7 hands into heads up. And, after only getting a quarter of the pot on hand 8 we have reversed the chip stack positions that we started out with. We slug it out and got back and forth over the next 10 to 12 hands, including one hand where he had me all in. Blinds move up to 500/1000. I finally get a couple of solid hands and force Pokerdegree out to even us up and then take another 9K to 4.5K lead over him. I'm able to get him all in with A/2/3/J - I hit a boat, but we split the pot and he stays alive. I get him all in again when I'm dealt 2/3/3/4. I hit the nut low (wheel) but he gets a higher straight to stay alive with the chop.

Pokerdegree's aggression gets him to nearly even. The blinds also now move up to 600/1200. I'm able to steal a hand and move up to 10.4K to his 3.1K. I call his raise with 2/4/8/Q and flop a nut low draw. Two bricks give me nothing, but he has only 194 chips left when he goes all-in. I call (and lose). It evens us out again (and he takes a small lead the next hand). He proceeds to get me all in again, but we're able to chop it up.

We've been going at this heads up see-saw battle for nearly 20 minutes. I think I've earned some respect from him and I also think I've largely figured out how he plays. I'm dealt 3/4/8/9 on our 39th hand heads up. The flop is 8/9/K (all clubs - I have none). He leads out with a bet, but I'm going to see where I'm at and play off that I have the flush. I 2-bet. If he raises me, I'll know I'm in bad shape in the hand. He only smooth calls. The turn brings a 7 - I think I'm ahead so I move all in again hoping he'll fold. He doesn't. I'm ahead on the high and he only has a nut low draw. The river is another 9 - giving me a boat and a pot scoop. Yes! I'm back ahead about 9K to his 4K.

On our 40th heads up hand, I'm dealt 3/6/8/8. He raises it up. I call. The flop is 7/7/T giving me gut shot straight draw and a two pair. He leads out - I call. I'm very bad to a 7 or T but I'm banking that he doesn't have either. There's a 4 on the turn. I call his bet. Another 4 comes out on the river. He bets all in. I've come this far. If I can fade him having a 4, 7, T or a pair higher than my 8s then I'm good. He has none of them (showing only 3/5/J/K) . It's all over - the game is done and I've taken it down.

Pokerdegree's aggression took him a long way, but not all the way. I take down $45 for first - putting me $5 short of the stake (Mark - the backer - has said that the "cake" will be for $50, not the full $55).

The rest of the way is now basically a free roll.

Sunday, September 13, 2009

Suck Out! A Horse with No Name Recognition (Part V)

Suck Out! The CPL's own Docu-Series continues....Part One can be found here (Forward/Intro), part two here (Staking), part three here (Backer's Perspective) and the Horse's Perspective (part IV) here...enjoy!

Match 1 - Stud H/L (Stud8) - Single Table SNG
Karaoke Phil

I'm taking a little bit of a conservative start to my matches. My first goal is to make a dent in the stake so that I can play for the "big money" without the added pressure of the stake yoking me. A single table sit-n-go is a good way to make half to nearly all of the stake back - with a first or second place showing - in a format that I do well in. To increase my odds (in my thinking) I am going to make the first match Stud H/L.

I saw Jennifer Harman recently on an episode of "Poker After Dark" (I think that was the show). Jen busted out in third or fourth and the interviewer asked her if No Limit Hold 'em is her favorite game. Harman's response was that she preferred the games that, she felt, others don't know all that well: PL OH, OH8, Stud, Stud8, Razz, etc. Indeed, she ranked No-Limit Hold 'em as her 10th favorite game. To some extent, I feel the same way. I believe that I play Stud8 and OH8 better than many other players. I think I have an edge in those games. I don't place No Limit Hold 'em in 10th, but depending on my mood it may fall as low as third or fourth. So, we start with Stud8. Let's win some money.

As fate has it, the CPL's own Mike "Blind Me Down" Behr (BMD) has joined my table. I don't believe he knows that this is my first "Suck Out!" match. He ends up seated immediately to my right. It may be beneficial to have a somewhat known quantity next to me as this match progresses.

Early on I'm dealt several quality hands - including 2/6/7, 3/5/8 and A/A/9 (Aces underneath). They all fail me misearbly. On the first hand I get a 3 on fourth and then three straight bricks. I nail an A on fourth and a 2 on fifth with the second hand (giving me 3/5/8/A/2). It fails to improve and I lose to a 5/7 low on seventh street. And, the Aces? They do not improve - no low, no other pairs and I drop the hand after 6th street. A good move as Homestar hit a full house and Janmike had trip 7s. I'm below 1000 chips after 11 hands.

I'm able to limp in on hand 16 with 5/3/3. My next two cards are 2 and 7 giving four to low (2/3/5/7) and a pair with two cards to come. However, the action gets heavy on 5th street. Mike (BMD) leads out with a bet after pairing his Qs and well on his way to a flush (3 diamonds showing). Thaifayta2gzz, showing 3/7/6/A two bets and Janmike who's still in the hand with 2/5/6/A showing calls. Mr. Mike (BMD) 3 bets. Now, I still have two cards to come but my 5/3/3/2/7 is looking bad to me. Mr. Mike (BMD) is pushing that high hand and either trip Qs or flush have my pair of 3s dominated. On the low end, I'm still drawing with a 2/3/5/7, but the other two players in the hand (Janmike and Thaifayta) are looking good. Janmike's up cards look better, but Thaifayta is raising like he's made a great low. I decide to drop the hand and I'm down to 478 chips. The last two streets are dealt and both Janmike and Thaifayta show 5/6 lows (Janmike's 2 plays for him for a better low) and BMD had the flush. I think it's a good laydown but I'm in very bad shape.

After 18 hands I'm now down to 448 chips. I've only gone to showdown once (and lost the hand). In fact, I haven't won a hand yet. I'm reminded of a RAZZ tournament I played a while back where I lost the first 32 or 34 hands before winning one. I then proceeded to lose the next 8 hands, won one more and then got knocked out on the hand after that. Ahh, yes. Winning two hand out of the 43 or 44 or so hands played. Great run of cards and a run that had me questioning if I'd ever play another RAZZ tournament. I think I have only played straight RAZZ only one time since then.

Hand 20 brings something new - a winning hand. I'm dealt A/2/5 (all clubs). I get a K on fourth and a 4 of clubs on 5th street. At this point, BMD is showing 2/6/8 with Homestar showing A/4/8 and a likely diamond draw. I slow it down and Homestar takes the lead in betting. BMD folds his hand. I nail the straight flush with the 3 of clubs on 6th street and get all in with Homestar. That's not all that hard since I only have 88 chips left at this point. Homestar has a low and the diamond flush, but my straight flush scoops the pot and I move up to 1486 in chips - just about starting stack.

We finally lose our first player on hand 31 and I'm in 5th of the remaining 7 players with about 1300 in chips.

Four hands later we have lost Janmike. I'm dealt 3/4/5 and complete the bet in a heads up match. Adler folds and I move my chip stack up to 1374. It's only the 4th hand I have won of the 36 played, but I think the tide is going to start to change for me. Indeed, by hand 42 I have moved up to 1649 in chips.

I'm able to knock Thaifayta2gzz out on hand 47. He's short stacked when I'm dealt 6/3/4. He also has a good low hand but we both miss lows and my two pair (6s and 2s) beat him. I'm now in 3rd place with 2184 in chips and our own Mike "BMD" Behr is leading the sit-n-go with 3757 chips. This is my first match ever being staked and I'm playing a little tighter than usual but things are starting to look up.

I score a few chips in hand 54 to bring me up to 2294 (still in 3rd of the 5 players remaining) but by hand 65 I'm back down to 1046 in chips and in 5th place. I'm still not going to count myself out. Stud8 is the type of game that you can scoop a pot and triple or quadruple up in a single hand. On the next hand (hand 66) I'm able to chop the pot and move up to about 1300 in chips. It's not a lot, but give me more confidence that this will end up fairly well. I'm a shortstack on chips, but my gut is telling me that I'll be able to back door my way into 3rd place for a smallish cash. I can take that for the first match. We lose Shyster within the next couple of hands and as we head into break I have 1600 in chips.

A few hands after break ends I'm dealt about the best hand you can get - A/2/3. I'm heads up against an 8 showing. I get a K to his T on fourth street. Fifth street gives me a 3 for A/2/3/K/3 - while my opponent receives a J (showing 8/T/J on the board). He's the table shortstack and moves all in. I call and he has....nothing. He's on a gut shot or runner/runner for a low and my 3s are ahead. Sixth and Seventh street do nothing for me while he hits his gut shot with a 9 on 7th street. I'm now down to 255 chips.

I'm able to score a chop and then on hand 76 I'm dealt 3/4/K. I decide to make a stand and move all in (not quite a complete bet). I'm heads up with Pokistry who is showing a "2". I'm hoping he has nothing and will fold but he's probably priced in to call me and try to knock me out. He does make the call (and has nothing) with 9/Q/2. The cards play out - neither of us get a low and he hits a pair of 6s to beat my K high. I'm knocked out in 4th place.

It's certainly a disappointment, especially with the horrendous run of early cards I had (the first 18 or so hands). I'm not sure what I'll go for next, but I don't think it'll be Stud H/L. I may go for an OH8, match of some sort, but we'll see. At this point all I know is that I'm going to need to buckle down now with only four matches left to play. For those "BMD" fans out there - he went out in third.

Friday, September 11, 2009

Podcast and Suckout!

The newest podcast episode is undergoing the technical aspects of putting it together - look for it to be posted tonight or tomorrow (see the player on the left hand side). This show will have a Casino Review of: Casino Royale, Las Vegas. Also, review of the new CPL session, music from MN's "8 Year Weight" and the first audio installment of Suck Out! - including audio of the first of 5 matches.

Speaking of Suck Out! A Horse with No Name Recognition - the next text update (the results of the first match will be posted this weekend).

Sunday, September 6, 2009

Suck Out! A Horse with No Name Recognition (Part IV)

Suck Out! The CPL's own Docu-Series continues....Part One can be found here (Forward/Intro), part two here (Staking), and part three here (Backer's Perspective)...enjoy!

The Horse: Save a Cowboy, Ride this Horse
By Karaoke Phil

I've been called a donkey. Now, I'm a horse. Mark (my backer) and I have fantasized about the WSOP and tried to develop schemes to get there. Haven't we all? Many times I have talked about selling "pieces" of myself to raise the needed money to play (only half in jest). No one ever took me up on any such ideas. Til now.

"Really?" I think I actually said that out loud to myself during that CPL Monday Madness game. Mark told me to check my email because as he wrote in the table's chat box, "I think you'll be pleasantly surprised." Yeah, surprised is as good a word as any.

Okay, sure, Mark and I are friends. We go way back - to about the time of the transition from Carter to Reagan. For you younger readers those were Presidents last century. This stake is for $55. I know Mark would just give me the $55 if I really needed it. But, he didn't have to make this offer - let alone actually transfer the money over (within minutes) when I said "sure." Yes, I am surprised, but I am also honored. Mark likes to play cards himself, but he's entrusting this money to me.

I must, obviously, enter this with a plan. Foremost, I cannot let Mark down. I am taking this as a very serious business arrangement and I want to make good on my end of the bargain. As I do with many such things I'll have staged goals. First, I need to "break even". At the very least I don't want any "cake" weighing me down and giving me poker diabetes. Beyond that, of course, is the desire to earn some money.

FullTilt Poker offers plenty of games selection from which to choose. I will certainly play a Midnight Madness on the 4th or last tournament. It's a big field with a total guarantee of $15K and always ends up with about a $17K prize pool. If things don't go well that Midnight Madness shot will be the attempt to make things right (and, likely, the best shot at "big" money).

There are numerous No-Limit Hold 'em (NLHE) full and short table tournaments from which to choose. And, there are daily Stud H/L and HORSE tournaments that look quite appealing. Then there are the Sit-n-goes (SNGs): NLHE offers 1, 2, 3 and 5 table options - 9 handed of course. Finally, there are Matrix SNGs for HORSE, OH8 and Stud H/L that may not make much money for anyone, but are a good bet for not losing much. That's a conservative route I won't likely take.
Upon deeper reflection my one wish is that I had a little more flexibility, but my backer set the parameters at 5 - $11 tourneys or SNGs - my choice of which ones. It would have been nice, however, to poke around at the regular $8.80 tourneys where I have had some good success. There also seems to be more variety at the $5.50 level including 2 table HORSE SNGs which are a favorite of mine. I think Mark would certainly alter the terms but, I can work under these parameters. We have our marching orders and I have a plan. Let's shuffle up the cards and start the dealing.

.

Tuesday, September 1, 2009

Suck Out! A Horse with No Name Recognition (Part III)

Suck Out! The CPL's own Docu-Series continues....Part One can be found here and part two here....

The Stake: A Backers Perspective
by Mark Cardenas

When I said the words "I want a piece of Phil!" it just sounded right. You know...the kinda sound that rolls off the tongue and warms your heart with the knowledge that you are doing something good in this world. It was that kinda sound. And I said it again, "I want a piece of Phil!" and I heard Karaoke's theme song in my head (Legend In His Own Mind...check it out on our podcast from 10-28-2007) and less than 15 min later with determination, with no second thoughts, like I had been given a prophecy....I had transferred him the money.

Ok, let me try to give you some perspective on where I'm coming from. I have been playing real poker (holdem) for about 3+ years, and I can tell ya that playing regularly online, at the casinos, and in a weekly poker league, it teaches you a thing or two (or ten) about your poker playing skills. And although I have improved dramatically from the first few months of playing...I have not improved nearly as much as Karaoke Phil.

This is partly due to the fact that Karaoke was sooooo bad when he started playing (yes...I said bad...and yes, this directly contradicts Karaoke's statement in the previous Docu-Series post that he was an 'ok' poker player when he started), but also due to the fact that Karaoke has honed his skills of reading players well beyond my current level. I've seen this guy make "Kid Poker" type reads over and over again when he is 'tuned in'. Then again, I've seen him completely talk himself out of a hand.

So why stake someone like Karaoke who is at this level and consistency?

There are many reasons that I am excited to Stake Karaoke Phil in his quest to become a Poker Pro. I've listed the main ones below:

  • Karaoke is simply a better player than I am. As such, I have a better chance of winning if Karaoke is playing with my money! It is a no brainer to me. Every day people give stock brokers money to do what they feel is right to make us money. I look at this similarly. I have trust that my poker money in Phil's hands will be managed well.
  • I have seen truly great poker playing of Karaoke, both live and online. I know that he is approaching a turning point in his early career and I am looking to help him turn that corner.
  • This is one of those fabulous 'win-win' scenarios...Karaoke gets to play without risk and I get to possibly earn some cash along the way.
  • Both Karaoke and I knew this would make a great blog....so if nothing else it is entertaining!
  • If this turns out incredibly well....'Mr. Karaoke Phil' may make his best friend, who supported him through the early days, his own personal Poker Manager.
But until Karaoke hits it big...I am holding the purse strings and calling the shots...and trust me...I want some tangible results or I am hitting the road.

I am confident that my backing of Karaoke Phil is a good move and a smart investment. On a personal note, I think it is exactly the type of activity that Phil needs to get over the 'hump' and make a run at something big!

I am excited to be the "Backer", the "Cash", the "Money Clip", or whatever else you would like to call it. I am also excited for Phil to participate in this opportunity!

Good Luck Karaoke Phil! I've got a piece of you! And you've got Irons in the Fire! Now bring back the goods!
Mark


Updates: Monday Madness and Suck Out!

First - apologies to our fandom. Life doesn't stop and we can't (yet) make the CPL our full-time gig.

Update #1 - MONDAY MADNESS - is NOT dead. We put in requests every four weeks and blew getting it in last week. Hence, no game this past Monday. We have already received word and here's the schedule for the next several weeks:

(09-07-09) - NLHE - Tournament #105983111
(09-14-09) - HOE - Tournament #105983753
(09-21-09) - NLHE - Tournament #105983793
(09-28-09) - PL HA - Tournament #105983863
So, we'll be back in action and hope to see you there - as always, the password is " CPL ".


Update #2 - "Suck Out! A Horse with No Name Recognition". Our docu-blog series continues shortly. Mark (the Backer) will soon have his post: The Stake (A Backer's Perspective).

That will be followed shortly by Phil's post: The Horse (A Player's Perspective) and additional posts in the series. We hope you enjoy it.

Wednesday, August 12, 2009

Staking, part two of "Suck Out! - A Horse with No Name Recognition"

Editor's Note: This is the second post in our "Suck Out!" serial. You can read the first posting here.

Staking

This serial is about staking and our real life encounter with it. Before we get too far into the series we should be sure that we are all on the same page as there are a few terms and concepts you should know.

Poker is divided into tournaments and cash games. Tournaments play down to a winner (or until a “deal” is reached) while a cash game is simply ongoing play where you sit down to play and then leave as you wish – while the game continues (or breaks up if it’s 3 am and your wife is screaming at you to shut the hell up so she can get some sleep). Usually, at lower stakes anyway, players pay their own way. If it’s a $125 tournament at a casino or sitting down at a home cash game with $40 the player digs into his pocket uses his own cash.

Sometimes players are “staked”. This is certainly more common for pricier cash games or tournaments, but with online poker it can be for any amount or money level. Staking means that someone else is putting up the money being used. Stu Ungar’s third WSOP Main Event (ME) win in 1997 is, perhaps, the greatest story about staking.

For years Ungar had abused cocaine and led a self-destructive lifestyle. The 1980 and 1981 back-to-back ME winner had reportedly gone from broke to millionaire to broke 3 or 4 times. His poor decision-making in his life meant that he had barely played in the WSOP since 1991. But then April 1997 rolled around. Stu wanted to play again, redeem himself. His bankroll had other plans. Stu was broke. Billy Baxter, a close friend of Ungar’s, offered to stake him in the Main Event and Ungar was able to register minutes before start time, the last player to register for the tournament. Stu went on to win his third WSOP ME Title.

So, in staking, you have someone who provides money, or invests, in a player. The one with the money is called a backer. The player, or the one being staked, is typically called a “horse”. The backer and horse come to agreement on the terms of a staking including money splits, playing requirements and any other conditions.

Staking is often a losing proposition in the short term in tournament play. A horse may go several tournaments without cashing. As a result, many stakings include a “make-up” or “cake” clause. Simply put, a make-up clause means that if a horse loses an initial stake – say a $1500 WSOP tourney buy in that the player busts out of before cashing – then the player will need to make up that $1500 the next time the backer stakes him. For our example, say the backer decides to stake the player for a second $1500 tourney. This time the player cashes in the amount of $5500. Rather than splitting the $4000 profit from this tournament the player needs to “make up” the previously lost $1500 due to the cake clause they had in place. That means the actual split is on only $2500 after the player makes up for the other $1500 he lost.

For “Suck Out!” the total stake is $55 to be used in 5 - $11 tournaments. The tournaments may be multi-tables or sit-n-goes: horse’s choice.

Editor's Note: Look for regular postings (every few days) as we work through the stake - next post: "The Stake (A Backer's Perspective)". We'd love to hear your comments and thoughts as well.

Sunday, August 9, 2009

CPL presents: "Suck Out! – A Horse with no Name Recognition"

Forward

This serial will consist of published installments in the vein of George Plimpton's "Paper Lion". We will be covering poker in the first person as an amateur effectively being paid to compete. For our purposes, and since we're not independently wealthy, we are starting with a backing offer of $55. Karaoke Phil will do most of the writing of his experiences with observations from "Verbal" Mark Cardenas sprinkled in. We hope you enjoy and welcome any comments and feedback.

Introduction

It all started with a simple series of emails:
--------------------
Sent: Tuesday, January 04, 2005 12:30 PM
Subject: Poker round # 2. Saturday Jan 8th 6:00pm
Happy New Year Everyone!
Now that the bustle of the Holiday season is over it’s time to do some gambling!!
Poker Round 2
When: Saturday January 8th 6:00pm.
Game: Texas Hold’em. Last person standing takes all.
Buy in: $25.00 per person gets you $1000 in chips.
Please RSVP and let me know if you need more specific instructions!
Mark
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Sent: Thursday, January 06, 2005 2:01 PM
Subject: Re: FW: Poker round # 2. Saturday Jan 8th 6:00pm
cough, cough..
Um...hello? Are you available on Saturday? I haven’t heard from you?
Mark
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Sent: Thursday, January 06, 2005 2:03 PM
Subject: Re: FW: Poker round # 2. Saturday Jan 8th 6:00pm
I will come - this time for sure. I'll need to review the Texas Hold 'em rules though. I've never really played it (that I can recall) just seen it on ESPN a couple/three times. Beginner's luck??
Phil
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So began my love affair with poker. Sure, I had played dealer's choice home games - red dog, baseball, "in between" and the like. But, those games just aren't Omaha 8 Hi/Lo, Stud 8 Hi/Lo, HORSE or the "Cadillac" of poker games - Texas Hold 'em, no-limit of course. Until 2005 I never really played the "real" games of poker. I certainly had not even attempted to study the game. All of that changed on that cold Minnesota day in January when I finally, truly played the game. I was hooked.

Television coverage of the WPT, WSOP, US Poker Championship and even shows like Celebrity Poker Showdown fueled my aspirations and dreams. Poker, they say, is the one sport where an amateur can sit down against a grizzled veteran pro and have a decent shot at winning. And, victories can bring millions of dollars. I found out that I wasn't god-awful bad. I could compete. I lost money for a while, but not huge amounts and not in a matter of days. At first, it would slowly drain away and I would need to make another deposit or have someone transfer me some additional funds every couple of months.

I read, studied, contemplated, discussed and improved. No, I haven't had the meteoric rise that some internet young guns have had. I didn't go pro within two months of sitting down at a computer terminal. But, then again, that's not my style. I am, now, though, what I call a "slow profit" player. I am not getting rich (yet). In fact, I tend to float up and down within a narrow zone range. But, I haven't needed to deposit any funds (indeed, I have even transferred a little to others) in over a year. The bankroll holds steady and occassionally slowly builds. You will see me on the virtual felt - a lot. All in all, the progress has been huge and I anticipate it will continue.

Editor's Note - Look for further entries as "Suck Out! - A Horse with no Name Recognition" unfolds

Friday, August 7, 2009

Suck Out - A Horse with no Name Recognition

We've tweeted about this (July 13 and 25th) and did a little promo/preview on the podcast (July 25th episode) and are ready to begin the chronicling.

Titled: "Suck Out - A Horse with no Name Recognition", Karaoke Phil will be staked by Verbal Cardenas in a series of poker tournaments.

In the vein of George Plimpton's "Paper Lion" (and other endeavors), we'll blog (and incorporate into the Podcast and on Twitter) this series as it unfolds, likely posting a blog entry every third or so day over several weeks. Look for the first entry this weekend sometime.

We'd be happy to have any feedback or comments!

Your CPL Poker Blog/Podcast Directors.