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I play both. In home games, I play like a crazy maniac. I get drunk, loud, and will drop $400 on a $50 buy-in game. LOL.. I have a lot of fun lagging it up in home games.
In a real casino, I take it much more seriously. I play my rocktastic game, playing only premium hands in the first 2 hours or so. I play very patiently, only play hands in position, etc. This is most likely around 20% or less VPIP. I try to establish a very tight, rock solid image. My experience is that this takes at least 2 hours for me to establish, sometimes longer.
My experience is that the lower-stakes live games (in Vegas and Los Angeles) are pretty soft, pretty loose, a straight up tight game is usually profitable here.
However, after several hours of very tight play, I try to loosen it up a bit in position, trying to work some sneaky hands or buying pots/blinds.
My game online is slightly different. I usually do not include loosening up, and usually just camp for monsters. Playing multiple tables takes a lot of concentration if you're going to monkey around here and there. I can do pretty well just sticking w/ a tight game plan without getting too tricky. And unlike a brick & mortar casino, the players and table dynamics change more frequently, so setting up an image I think has less value here.
Just what I tend to do...
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