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2012 November 5

Vol. 16 Number 10

Hollywood Poker Open Brings You More Places To Win!

By Barbara Rogers

Penn National Gaming is making sure you have every opportunity to qualify for the big Hollywood Poker Open (HPO) Guaranteed $500,000 championship at the M resort Spa Casino in Las Vegas on June 28th- 30th. Poker players can enter the championship event with a $2,500 buy-in, or by qualifying through a regional event or local promotion such as a satellite or drawling.

 The inaugural HPO regional event launches November 8th running through the 18th of November at Hollywood Casino Lawrenceburg, Indiana. This will include ten days of events with a $200,000 guaranteed Deep Stack No Limit Hold’em opening event. During the Lawrenceburg HPO regional event there will be plenty of opportunities to win a seat into the HPO championship. The seat package includes $1,500 in travel expenses, and the $2,500 seat for the HPO Championship.

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Pro Poker Championship PPC1 Series Rescheduled in Wake of Hurricane

New Dates Set— Jan. 11-Feb. 11, 2013 

Given the amount of disruption that still exists on the East Coast related to last week’s Hurricane Sandy, Pro Poker Championship, Inc. and Dover Downs Hotel & Casino in Dover, Delaware have decided to reschedule the filming of the televised series, PPC1. The new dates for the series will be Friday, January 11, 2013 through Monday, February 11, 2013.

 “We wanted to wait as long as possible to make a decision about rescheduling the event, but given the reality that much of the East Coast is still facing devastation, gas rationing, and power outages, rescheduling the event is the prudent course of action” stated Eric Ulis, President of Pro Poker Championship, Inc. He concluded, “We are excited about putting on a world-class event, but need to let circumstances return to some measure of normalcy first.”

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Playing Out Of The Blinds

by David “The Maven” Chicotsky

In regards to how to deal with a raiser in stealing position (when we’re in the blinds), there are many schools of thought. One method we see many players use is becoming a calling machine that habitually defends their blinds. Another less popular method involves trying not to call out of the blinds as often, and instead choosing to re-raise or fold. No matter what your preferred method of playing out of the blinds, other players at the table will be taking a notice in order to exploit you.

 My general view of players that habitually defend their big blind is they put themselves at a major disadvantage. If nothing else, they’re something that all no-limit tournament players strive to stay away from being: predictable. We’re able to raise into these players, knowing they will call, allowing us to use our positional advantage on an on-going basis. Another thing worth considering is that players that like to call typically don’t like to re-raise. Therefore, when a habitual caller does re-raise, we can be confident that they’re only doing so with premium hands, making their play very predictable and easy to counter.

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Poker Hall of Fame Announces Class of 2012

 Eric Drache and Brian “Sailor” Roberts will become the 43rd and 44th individuals to be inducted into the Poker Hall of Fame. The two were nominated by the public, and voted in by a 36-person panel made up of existing Poker Hall of Famers and members of the media. Drache and Roberts will be inducted officially on Tuesday, October 30 at 3:30 pm at the Rio All-Suite® Hotel & Casino in Las Vegas, prior to the finale of the 2012 World Series of Poker Main Event.

 The special induction ceremony and celebration will take place in the lobby of the Penn & Teller Theatre in the Rio All-Suite Hotel & Casino.

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Expected Value, Part 3

by Lou Krieger

This is the third and final installment in our series on expected value, or “EV” as players call it [read Part 1 and Part 2]. In this installment we’ll do a little arithmetic—nothing complex or off-putting; I promise—and by the end you should be able to incorporate the notion of EV into your poker game and make much better decisions at the table.

 Last time we used an example based on flipping a coin, which is a 50-50 proposition. It had neutral EV if you and your opponent were willing to pay the other $5 per coin flip, but turned into an enormously positive EV for you if your opponent would shell out $10 whenever you won the flip, but you only had to pay him $5 when you lost.

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Different Considerations for No Limit

by Ashley Adams

My home poker room, Foxwoods, is still a great limit stud room—with all levels of games going regularly. I learned there how to beat that game. (I also wrote a book about it: Winning 7-card Stud.)

 Even so, about seven years ago, I noticed that the lower stakes games were tightening up considerably (as bad players gave up,or died) and the bigger games were getting wilder, and effectively bigger, making it tougher for a grinder like me to deal with the ever-larger swings. So I did what a lot of players did at the time: I took up no limit hold’em, primarily the $300 capped buy-in $1 - $2 blind version of the game. Now I play it just about all the time that I play there, and I’ve learned how to win in that game too. (And I wrote a book about that too, Winning No Limit Hold’em.) But the skills necessary to beat $1 - $2 no limit are very different from the skills necessary to beat the limit game.

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Mike Caro Today’s word is... “WEATHER”

Weather isn’t only rain and snow, thunder and sunshine. Weather is a concept that I teach students of poker and life. And we’ll explore it in today’s self-interview.

Question 1: What do you mean by saying weather is a concept?

 Well, I use it conceptually when explaining an important attitude that builds poker bankrolls and makes life itself easier to manage. Sure, weather is still storms and droughts. I’m not arguing about that. But the concept surrounding this reality is that weather is something you can’t influence. It comes. It goes. You can react to it in meaningful ways. But you can’t choose what weather you want.

Question 2: Big deal. So what?

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Sunken Measure

by Barbara Connors

Few things can stirs up our emotions like having money on the line. Whether it’s in the stock market or at the poker table, fear and greed inevitably cloud our decisions. So it shouldn’t be surprising that many of the basic tenets of behavioral finance also apply to poker.

 One example is a phenomenon known as the sunk cost effect. In behavioral finance, this describes our tendency to cling tenaciously to anything we’ve already put a significant amount of money into. The classic example is an investor who refuses to sell stock of a company that has gone to the dogs, for example, if its product is becoming obsolete. The desire not to recognize a loss is so powerful that he will hold onto those shares as they continue to plummet. Hoping that maybe the price will rebound and he can get his money back. Not realizing he should just forget about his initial investment. That money is gone. It’s sunk. The only thing that matters is whether or not the company is a good investment now—in its current condition and at the current price.

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A Steam Raise

by George “The Engineer” Epstein

I had not been familiar with the term, “Steam Raise,” until I received a comment on my column, “Information: Fact and Conjecture,” in the September 10 issue of PPN. Just to remind you, that column began with a quote from famed British satirist, Samuel Butler (1835-1902): “Life is the art of drawing conclusions from insufficient premises.” That’s often the situation when we play poker. Following along in that vein, the column was concerned with gathering important information at the poker table to help you make the best decisions. Information can either be (1) factual (like the value of your holecards) or (2) conjectural (tells, for example) where some guesswork is necessary. We described many examples of factual information, but were able to identify only seven conjectures pertinent to the game of poker. So we invited readers to suggest others. Dan Behringer of Las Vegas submitted a bit of a mind-boggler—a “Steam Raise.” Have you ever heard that term before?

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Poker East and a Little West of the Mississippi

by Barbara Rogers

Is Hollywood a state of mind?

 If you are playing poker in one of the Hollywood Casino’s, it’s a state of being.....being in a chance of a lifetime situation, that is! You can win an all-expense paid trip to Las Vegas at the fabulous Forbes Four Star M Resort and a shot at a half million dollars. Opportunity abounds! The folks at Penn National Gaming are making sure you have a fair shot at it by bringing a chance to win at a Hollywood Casino somewhere close to you. So it’s your fault if you don’t take advantage of this. And I don’t exagerate when I say fabulous. My cousins, Paulie and Gale frequently travel to Vegas. They have dined all over the city and here is Paulie’s quote, “The M buffet is now my favorite, anywhere.” “The quality of the food is outstanding and the selection is huge!” And they know of what they speak as they have been eating out for thirty years! That has to count for expert status. Seriously, it’s a great thing to play poker in an environment like the M. You feel great in your surroundings while you retire to a luxurious bed in a beautiful room and re-play all the hands from the day’s session in your head.

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