Lessons from Howard Lederer
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Sit n Goes Made Easy - By Howard Lederer
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Lesson: 1
Sit N Goes Made Easy
Howard Lederer
March 14, 2005
The Sit N Go (SNG) is online poker's great gift to the aspiring tournament player. Prior to the SNG, final table experience was hard to come by. You could enter a dozen multi-table tournaments and never find yourself at a final table. Or you could make one or two, only to get knocked out in 8th or 9th place. Adapting to an ever-diminishing number of players at a single table is a crucial skill in tournament poker, and it's a hard experience to find offline without investing a lot of time and money. Online, this experience is a mouse-click away. The SNG's advantages are many. For starters, it's low-cost, or even free. It's also fun, and convenient: You don't need to schedule it -- a SNG starts every time the table fills up -- and it's usually over in less than an hour. It is the flight simulator of Final Table play, and mastering it should be considered mandatory homework for the serious student.
Now that you know why you should play, let's look at how:
The most obvious difference between a SNG and a multi-table tournament is that when someone goes broke in a SNG, there isn't someone waiting to fill their spot. Multi-table play consists mostly of full-table, ring game poker. But as players get eliminated from a SNG, the table gets shorter- and shorter-handed. This reduction in players basically serves to artificially raise the antes. For instance, say you are playing five-handed and the blinds are 100-200: You are paying 300 in blinds for every five hands, or 60 per hand. As soon as someone gets knocked out, you're four-handed. Now you're paying 75 per hand -- a 25% increase -- despite the fact that the blinds have remained the same. Accordingly, you're forced to gamble more, or risk getting blinded out.
Since the size of the blinds relative to your stack size should always play a major role in you hand selection, I recommend starting out with pretty conservative starting hand requirements. This serves two functions: First, the blinds dictate that you play fairly tight early; the blinds are small and you are nine-handed, so they don't come around as often. Second, this helps you establish a tight image, which you hope will pay off later when the blinds are high and you might really need a timely ante steal.
But there is another not-so-obvious reason to play tighter earlier and looser later: The payout structure rewards tight play. Most SNG's pay 50% to first, 30% to second, and 20% to third. This payout structure dictates that you play for third. Why? Looking at the payout structure another way might help. Basically, the payout means that 60% gets awarded once you are down to three players, 20% gets awarded when you get down to two players, and the final 20% gets awarded to the winner. If you can just get to third, you get at least one-third of 60% of the prize pool, or 20%. You've locked up a profit, and you have a chance to win up to 30% more. It's only now that you're in the top three that your strategy should take an abrupt turn. Now it pays to gamble for the win. Let's look at the numbers again: 60% of the prize pool is off the table, and moving up one spot is worth only another 10%. But move up just one more spot and it's worth a whopping 30% extra -- that's three times more for first than it is for second. And with the blinds going up, gambling for the win is even more clearly the correct play.
I see many players employ a nearly opposite strategy. They figure they have nothing to lose, so they go for the quick double-up early. They take chances too soon when, in their view, there's "nothing on the line". Then, once they're in the money, they tighten up, thinking about that extra payout for moving up a spot. If you start to rethink your SNG approach and adopt a "slow early, fast late" strategy, you will see an almost immediate improvement in your results.
Best of luck and see you at the tables,
Howard Lederer
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Why I Leave My Sunglasses And iPod At Home
- By Howard Lederer
Lesson: 6
Why I Leave My Sunglasses And iPod At Home
Howard Lederer
April 25, 2005
Why Sunglasses and Headphones Aren't For Me
I know this newsletter is being written for an online poker site, but I hope that most of you still find time to play live poker. As much as I love online poker, I would never completely give up sitting at a table and getting the chance to size up an opponent. This week's lesson will examine why I think it is a mistake to wear headphones or sunglasses during live play.
Poker is a game of information. You give information to your opponents, and they give information to you. Most of that information is in the form of betting patterns, which is why online poker is such a great form of the game. All of the betting information is right there for you to use while playing a hand. But when you play live, there is a small amount of additional information that is given off through physical tells and audio cues. I am a very visual player, and am blessed with good eyesight. I wear contacts, and with them, my vision is 20/15. I constantly use my eyes to take in every nuance of what's going on around me at the table. If I wore sunglasses, much of that information would be lost to me. I am confident that the information I take in with my eyes far exceeds what I give away.
If you currently employ sunglasses when you play, I would encourage you to try playing without them. Yeah, you look cool in them. Maybe. But, if you try playing without them while staying committed to taking in as much visual information as possible, you might find that not only are you doing better, the game is suddenly more interesting as well.
I reserve special scorn for the rampant use of headphones in poker tournaments. They slow down the action and, on the whole, I believe they hurt the people who use them. When a player throws a single, large chip into the pot, he usually announces 'raise' or 'call'. But all the guys at the table wearing headphones can't hear the call. Invariably, they have to take off their headphones and ask the dealer what the bet is. It is annoying when the action comes to a grinding halt to clarify something that anyone without headphones already knows. Also, poker is a social game. It would make me sad if poker someday becomes a game where nine people are sitting at a table listening to music, and no one is talking to one another.
Also, there are some valuable things you can pick up on simply by paying attention to the conversation around the table. You can sometimes tell when someone is over his head just by listening to him talk. In a recent tournament, I won a very large pot as we were nearing the last few tables because I heard someone speaking a few minutes earlier.
It was the Bellagio $15K WPT poker tournament. The blinds were $4K-$8K and I was in the big blind. A player who'd been playing very tight so far opened the pot from an early position for $25K. The small blind called and I looked down at 9-9. I often re-raise with this hand, but this seemed like a good time to just call. The flop was 8s 5s 3c. The small blind checked and, with about $275K in front of me and $100K in the pot, I continued playing cautiously and checked. The opener checked, too. The turn was (8s 5s 3c) 6c and the small blind checked. I felt like I must have the best hand, so I bet $50K. I was very surprised when the original opener raised all-in for a total of $175K. The small blind folded and now I had a big $125K decision to make. If I call and win, I have $550K and am in great shape. If I call and lose I'm in real trouble.
I didn't think he had a big hand, but it didn't seem like a very good bluffing situation either. The board looked really dangerous. Plus, I hadn't seen this player get out of line at all. But then I remembered a comment he had made to his neighbor about ten minutes earlier. He had hardly played a hand for about an hour, and said to the guy next him that his cards had been so bad, it would have been just as well if he had stayed in his room after the last break. Remembering that comment, I felt there was a good chance that he was frustrated. With that factored in, I made the call. He turned over the Kd-Qd, and with a 2 on the river, I won a key hand that put me in great shape in a big tournament. If I had been listening to music, I don't think I could have made the call.
Poker is a game of information. Sunglasses might keep some information from getting out, but they stop more from coming in. Headphones simply give you fewer opportunities to gain valuable information about other players. These are handicaps I am not willing to spot my opponents.
Howard Lederer
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Specialize At Your Peril
- By Howard Lederer
Lesson: 13
Specialize At Your Peril
Howard Lederer
June 13, 2005
The recent poker explosion on TV and the Internet has created a flood of new players who are serious about developing their game. Sadly for them, television is sending a skewed message. No-Limit Hold 'em is the game of choice when the game is shown on TV, and it's easy to think there is only one game out there. While no one would argue that No-Limit makes for the most exciting television, there are many dangers associated with playing only one game.
First, you run the risk of getting bored, and boredom will lead to a stunting of your poker development. Enthusiasm is a critical ingredient for a successful poker career. When I spend time around the best poker players in the world, the one thing that they all share is a genuine love and passion for the game.
Next, you might be missing your true poker calling. As it happens, my best game isn't No-Limit Hold 'em - it's Limit Hold 'em. Had I not tried playing limit, I would never have found the game I am best at.
There are reasons why all the biggest casinos in the world feature multiple games. Stop by the big game at the Bellagio in Las Vegas and you're liable to see No-Limit and Limit, with games ranging from Seven-Card Stud to Deuce-to-Seven Draw. The best players in the world simply love to play poker. To deny themselves the pleasure of playing some of the best forms of the game would be unthinkable. They also know that if they play just one game, the specialists in a particular game (who are not nearly as good overall poker players) would be able to sit at their game and win. If you want to climb to the top of the poker world, you better become a great poker generalist. If you insist on limiting yourself to one game, you'll never make it.
Even if your ultimate goal is to become an accomplished No-Limit Hold 'em player, I encourage you to at least play a lot of Limit Hold 'em. Too many No-Limit specialists get by with almost no post-flop skills. To get good at limit Hold 'em, you will be forced get more comfortable playing after the flop. Getting free cards on fourth street and making close value bets on fifth street are just two of the skills you'll be working on. And those skills are transferable. Developing these skills in limit Hold 'em will allow you to play your hands with all your options available. And your No-Limit results will improve dramatically.
Playing the other games will develop skills that will simply make you a better poker player. Skills that have subtle value in No-Limit Hold 'em are very important in the other games. Acquiring these skills will have profound effects on your No-Limit game, even though you might not even be aware of their importance now.
Playing Seven-Card Stud will definitely teach you the value of free cards. It is a fundamental skill necessary to succeed at the game. In Pot-Limit Omaha you will learn the power of position and the power of the semi-bluff. Seven-Card Stud 8/Better is a game where you need to learn how to narrow the field at the right time. The number of players in a pot can make a hand go from a fold to a raise. Razz? Well, if nothing else, it will teach you how important patience can be when things aren't going well.
The world of poker has a lot more to offer than No-Limit Hold 'em. And if you start to explore that world, I am confident you will enjoy the game more. Getting good at each game will take time, so start out small and read what you can. Have fun; a new world awaits.
Howard Lederer
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