Thursday, July 21, 2011

How busy was it?


Phil Laak and me dealing Stud 8
Tournaments were starting throughout the day.  A typical day during the week would look something like this:

9am   $75 Daily Turbo Mega Satellite
Noon  No Limit Bracelet Event
2pm  Daily Deep Stack $235 Tournament
2:30  Day 2 of yesterday's noon event restart
2:30  Day 3 of prior noon event, 3 tables to final table
3:00  Day 2 of yesterday's 5pm event restart
3:00  Day 3 of prior 5pm event, 3 tables to final table
4pm  Daily $330 Mega Satellite
5pm  Bracelet Event (usually other than full table NLH)
6pm  Daily Deep Stack $185 Tournament
8pm  Daily $550 Mega Satellite
10pm Daily Deep Stack $135 Tournament
10 to 40 Tables of single table satellite tournaments 24 hours
10 to 50 Tables of "Live Action" cash games

Yes, we were busy.  The noon events regularly had over 1000 players and sometimes over 2000.  The 2pm Deep Stack was very popular and often had fields of over 1000 players, especially on days when the noon event was either a less popular event or a higher entry fee.  Between the Amazon Room and the Pavilion Room there were 380 tables set up.  There were also 14 overflow tables set up essentially in the hallway near the casino.  Many days a dealer could start the day in a tournament and as the tables broke and the tournament field melted down, the tables would be re-opened for cash games or single table satellites.  Many weeks we were scheduled for six days.

Saturday, July 16, 2011

Closing up the 2011 WSOP

Day 4 of the Main Event is now in the books.  There are 378 players left in the tournament.  The "Live Action" cash games are no longer running in the Pavilion, just in the Rio's regular Poker Room in the regular casino.  The 275 tables in the Pavilion Room are being broken down and moved into storage.  Of the original 1000 dealers on the staff, only about 50 will be needed to handle the remainder of the tournament, and that number will quickly go down as the field will likely be reduced by more than half by day's end.

My time at the WSOP is done.  Time to catch a plane bound for home.

So how did I do?  Was it worth it?  Yes.  It was a terrific experience.  It was fun and it was challenging.  Sometimes it was frustrating and sometimes a little demeaning as some players give dealers the same regard they would give to servants, but others sometimes show a little respect.  I must admit, there is a thrill to being the dealer at a table filled with celebrities and famous players that are seen on TV and whose books I have read.  It's prettty cool.

Financially, it works out pretty well.  Could be better, but it is a worthwhile venture.  Airfare, housing and car for seven weeks ran about $2300 and after taxes I will take home between $6000 and $7000 depending on how things work out for the Main Event.  It might work out to be more than that because this year I was able to work many more tournament downs due to the addition of the Daily Deep Stack Tournaments.  Those events filled in many days that in previous years I would have simply gotten out early or dealt a few tables in "Live Action" before going home.  In any case, it is profitable.  I wouldn't want to try to feed a family and make mortgage payments solely on the income as many do, but as a part time job in my early retirement, it's a pretty sweet deal.

As for my poker playing, I also came out ahead.  I brought a thousand with me to bankroll my poker.  Along about week two I had busted my bankroll completely and had to reload.  My luck and my play then improved as I had a streak of profitable cash sessions that looked like +200, +100, +600, +1400, +100 and suddenly my bankroll was back and I had doubled it.

The best was a session of $1-$2 No Limit Hold'em at Green Valley Ranch.  We liked GVR because we liked to have dinner at P. F. Chang's right outside the casino and then head over to the poker room.

I bought in for $300 and was able to catch some really nice hands.  A "Push Monkey" as my housemate Barry called him, was on my left putting a lot of money in the pot.  I was able to relieve him of quite a bit of it. I was seated close to the cashier podium where the chips were kept and as my stacks of $5 chips were piling up I leaned back and asked Tammy to bring me $300 in "Green" ($25 chips).  A while later, because I didn't want to have an ostentatious pile of chips ( I was running good enough I didn't want players to be afraid to put money in the pot) I asked Tammy to bring me $500 in "Black" ($100 chips) and finally, later on, "Tammy, $400 Black, please."  I really got a kick out of being able to do that.

Barry was stuck and wanted to keep playing and as we had driven in one car, I couldn't really just leave or insist that Barry quit, so I went down and saw a movie, "Horrible Bosses" in the casino's multiplex cinema.  When I came back, Barry was sitting at a short handed $4-$8 Limit table leaning on three racks of white chips (100 $1 chips in each rack).  He talked me into joining the game.  My luck continued and between us we cleaned out the rest of the table.  I wound up about another $150 ahead and Barry added about the same.  Three of the four other players left the table broke and the last finally won a pot and quit before another hand was dealt.  That was fun!

So from a work standpoint it was a good trip.  From a Poker standpoint it was also a good trip.  I guess I'll have to do it all again next year.

Thursday, July 14, 2011

Featured table pic with Daniel Negreanu

Featured table 2. 
ESPN camera crews are roaming the poker rooms. Live streaming of two featured tables on ESPN2 and ESPN3 today!

Wednesday, July 13, 2011

WSOP Main Event Update

After four "Day ones", the fields came together for "Day 2A on Monday and Day 2B on Tuesday.  The 6865 player field has now shrunken down to 1864.  Media day today gives the players a day off before the push toward the money on Thursday when the entire remaining field will play together for the first time.

Updates at http://www.wsop.com/tournaments/updates.asp?tid=11497&grid=821

Tuesday, July 12, 2011

Side Pot Mania

All in, all in and call
One of the challenges facing the "Part Time" dealer is keeping one's whits about when complex situations arise.  Much like Timmy Louie's five-way all in pot, I had a three/four way pot with an all in and a folded hand with money in the side pot that was tough to figure out.  Actually, when sitting at a desk and analyzing it, the solution seems simple and straightforward, but it becomes difficult when in the heat of the moment, under pressure to get it right and with at least three different players shouting out different suggestions of how to handle it (inevitable with some of them simply incorrect).

Here is how the situation unfolded:

Big pot, all in situation.  Large stack versus large stack.  Exciting hand with people standing up around the table watching as the cards come out, the winner being declared and then the stacks being counted down to see if the loser is out or has chips left.  End result was the loser had 1200 left.  For the next hand, the ante was 400 and the blinds were 1500 and 3000.  The loser was in the small blind, so after putting in his 400 ante, he had 800 left and was all in for less than the required small blind.

Now, an experienced dealer would immediately recognize the situation and see that whatever happens in the hand, the big blind will need to be split or changed up because only 800 of the 3000 will go into the main pot - to cover the all in player's bet.  The rest will go into a side pot and be contested by others in the pot.  This is easy to see looking back, but a little tougher in the midst of a new hand in the aftermath of a big emotional showdown.

A middle position player with a deep stack then makes a raise to 8700 which is followed by a fold and an all in re-raise.  The big blind player folds and the raiser asks that the bets be pulled in so he can see how much it is to call.  The bets needed to be pulled into a side pot because of the short stack all in player.  The raiser says, "OK, I call." And all hell breaks loose as three different players start shouting instructions to the dealer as to how to handle the side pot including one who insists we simply deal out the cards and figure out who wins what later (which is not an option in a tournament situation).  Another is shouting, "Just take out the eleven-four.  Just take out the eleven-four!" Which makes no sense to me at all.

Eventually, the light goes on in my head when a player points out that only 800 of the big blind should go into the main pot.  I then make change and take the 800 in from the big blind, the all in small blind, 1600 from the bets taken in (which I kept separate) to determine the call into the main pot, then I place the remainder of the big blind in front of the first all in player as a side pot, which actually also includes the bets taken in plus the remainder of the second all in player's stack.  People are still shouting instructions and amounts but I pause and quickly explain, "This is the main pot that he is in for," indicating the short stack. "The rest is on the side between these two players," knowing that if the second all in player wins, the deep stack must pay the remainder, while if the deeper stack wins, the side pot including the chips in front of the larger all in player will be shipped.

Burn and Turn, burn and River.  The second all in player wins it all with pocket Aces, the short stack mucks his losing hand and leaves the table and the pots are paid.  Whew!

It was confusing.  This is where dealer experience pays off.  The longer you deal, the more situations you run into where short stacks go all in and side pots need to be created.  I can't recall any situation this year where I had a player all in for less than the big blind.  The subsequent raise and re-raise with a request to pull in the bets created additional complexity with the multiple all in, side pot scenario.  Yes, eventually I sorted it all out and got all the pots right.  In the future, I will be more confident and will be able to control the table more effectively.

Aftermath:  It took me until the next morning to figure out what the "eleven-four" was.  He incorrectly was thinking that because the big blind was 3000, it was in the main pot along with 3000 from each of the deeper stacks.  Eleven-four represented what was remaining of the 8700 raise that was taken in from each of the two larger stacks less 3000 from each for the big blind.  This was incorrect because only 800 of the big blind went into the main pot while 2200 went into the side pot.  Thinking along those lines, eleven-four should have been "fourteen-eight" but from my perspective, rather than doing the math I was better off setting the chips up and then taking in 800 from each and creating the side pot with the remainder.

A really good dealer can do the math and move the chips amid lots of shouting of different numbers and sometimes incorrect instructions from several players, do it confidently, handle the pressure, control the players and the situation and get it all done right taking a minimal amount of time to do it.  That is when a dealer is earning his money.

Monday, July 11, 2011

The Main Event by the Numbers

Four days (1A, 1B, 1C, 1D) registered 6,865 entries into the World Series of Poker Main Event known as the 2011 World Championship of No Limit Texas Hold'em.  First prize is $8.7 million.

How does this compare to previous years?

Third largest field ever.  The largest was 8773 players in 2006.  First prize of $12 million was won by Jamie Gold.

2010 had 7319 and paid $8.9 million to the winner.
2009 had 6494 and paid $8.5 million to the winner.
2008 had 6844 and paid $9.1 million to the winner.

Don't think you have to win it to make money in this tournament.  The top ten percent or so is paid.  At worst,  if you just make it to the money you will nearly double your initial investment.  In 2011, 693 places will be paid. 693rd gets $19,359.  Even 72nd place gets over $100 k.

Thursday, July 7, 2011

The Main Event Begins Today

It's July 7th.  We have played 57 "Bracelet Event" tournaments plus over a hundred "Daily Deep Stack" and "Mega Satellite" tournaments leading up to the largest Poker tournament in the world.

Day 1 will stretch over four days.  Players may start their Day 1 on any of the next four days.  Talk is that the largest field will be on Saturday (Day 1C).  On Monday, players remaining from Thursday (1A) and Saturday (1C) will play their Day 2.  Tuesday, players who made it through their day 1 on Friday (1B) and on Sunday (1D) will be combined to play their Day 2.  The Main Event gives the players a break on Wednesday, then brings all the remaining players together for the first time on Thursday.  Play will continue for five days until the final nine players remain.  This will constitute the Main Event Final Table.

Then things get a little weird.  The final nine will all be in the money to the tune of over a million dollars each and playing for a top prize of over eight million ($8.9 million in 2010).  But they won't actually play for it until November 5th.  In order to make ESPN's broadcast coverage more timely and relevant, ESPN has gotten the WSOP to delay the final table until the entire season of weekly broadcasts has been complete, making their broadcast of the final table "Near real-time".  During the four month break, the final nine players will be able to line up sponsorships, make book deals, hire coaches and financial advisers and prepare themselves for what may be a life transforming event. Although some of the final nine may be financially well off, be assured that whatever place they take, it will result in the largest payday of their life.

Friday, July 1, 2011

This can only happen in a cash game...

...And only in Vegas.


On my day off I found myself downtown late at the $1-$2 table behind the photographs of Poker's Hall of Fame members in Binion's Poker Room.  Binion's is where the World Series of Poker originated and where "Nick the Greek" Dandolos lost over $2 million to Johnny Moss in a heads up match that lasted some five months and ended with the famous line, "Mr. Moss, I have to let you go."

I raised to twelve from the button holding a king and queen, both hearts and got two callers.  The flop didn't exactly cooperate when it came down A - Q - 6 with two spades but my callers checked to me and I led out with twenty-five which got a call from a Frenchman in seat two.  He checked the ten that fell on the turn and I checked behind.  The deuce of spades came on the river completing the possible flush.  The Frenchman led out with fifty which made me pause and think.  Then, as I cut out fifty in chips considering a call he said something to me about calling "that".

I said, "you know, that's a very dangerous board out there.  The flush got there. The Broadway straight got there and anyone with two big cards probably made two pair."

He didn't seem very confident asking, "Are you calling, then?"

"I'll make you a deal.  I won't call your fifty if you give me half of what's in the pot."

What?"

"You keep that fifty you just put out and we'll just split what's in the middle."

Pause to think.  "Alright then."

The dealer, who was following this exchange like a spectator at a ping pong match looked at me with a "what do I do now" expression and I told him, "Go ahead and split the pot. We're good."

Honestly, I was shocked that it actually worked.  The only thing I could beat was a bluff.  If he actually had a flush or a straight (or a pair of brass balls) he would never have agreed to the split.  He would have insisted on taking the whole pot unless I paid to see his hand.  On the other hand, with me showing some strength earlier and seriously considering calling, he was happy to take half the pot with his bluff.  That way he comes away a winner rather than losing the pot plus his fifty dollar bluff.  The more I think about it, if he was simply bluffing, taking half the pot without showing his cards must have seemed like a pretty good deal, almost as good as taking the whole pot with the bluff.

I seriously doubt that I could pull that off in the Poker Room at the Hard Rock in Tampa, but this is Binion's baby, and this is Vegas.