2006 December 11

I've heard it said that No-Limit Hold'em is a game of implied odds and that Limit is a game of pot odds. From a strictly mathematical standpoint this statement seems valid since in No- Limit if your draw materializes and becomes the winner you have the opportunity to take your opponent's entire stack Where as in Limit play if you consistently buck the odds the pot is offering you by chasing draws that are not warranted, you will go broke.

Two centuries ago a gambler developed a money-management system now called The Cancellation System, or La Bouchère. (A merchant banker surnamed Labouchère lived in Amsterdam at the time: perhaps he devised the system.) The system usually wins a small number of chips: occasionally it obliterates your bankroll. Frequently I see ads for money-management systems that are GUARANTEED to win at craps, roulette, or Baccarat. Under no circumstances send them any money whatsoever: they are either fools or charlatans. NO MONEY-MANAGEMENT SYSTEM CAN CHANGE THE HOUSE'S EDGE.

Mansion is proud to announce sponsorship of high stakes Poker professional, David Benyamine, a regular fixture in "The Big Game" at the Bellagio and dual World Poker Tour title holder. Benyamine, the "King of Cash" will next sport the Mansion logo at the upcoming Caribbean Poker Classic in St Kitts, November 24th to December 2nd, up against a top poker field that last year attracted celebrated couple of the game Phil Laak and Jennifer Tilley, amongst others.

Much of the material I ask Mike about in building this column comes from his free MCU library at Poker1. That's where I found a fitting topic for today's lesson.

In the last article I discussed how big of a leak the any Ace mentality is in limit hold em. It is more prevalent at lower limits but it occurs in the higher limit games too. When I see a player limping in with a weak Ace, or even worse raising in early position with one, I try to take full advantage of this observation. I also look for other leaks in their game such as playing trouble hands in early position and cold calling raises with them too.

I have no problem with self-indulgence, except when it comes to poker, where the point of the game is to play well, not to feel good. You want examples? Can you stand to stare them in the face?

The last time I interviewed Gary Dewitt he was the Poker Room Manager at Palace Station in Las Vegas. A lot has happened since then and I thought it was time to have another chat with him.

They call him "The Magician," as though there might be something magical about 28-year-old Antonio Esfandiari's speedy ascent to a high profile among the men and women tracking opportunities across the landscape of big time poker. Good timing and skill are more likeit.

He has more than $2.3 million in tournament winnings alone over a period of about four years.

Fortunately, we are free to make many personal choices in our everyday lives. Unfortunately, wherever personal freedom of choice exists, some people become psychologically disturbed and try to dictate the choices for us. They envision an orderly world unfolding each day exactly as it does in their fantasies. And when we make choices contrary to those fantasies, it drives the regulators of choice crazy. They want everyone to live like them.

About a week ago a colleague of mine invited me to a poker evening at his house. "Shall I bring my chip set?" I asked him. "No" he replied, adding "I've got a guy coming to deal and he's bringing chips, a table and tournament software with him."