on-line poker

Pat494 · Dec 10, 2005

Poker

Did you see that programme last night on BBC2 about the new poker phenomen on the internet ??
An average housewife made 8*s her starting wedge ( in controlled conditions - so no cheating ) in only about 2 weeks !!
Maybe we are in the wrong business ?
I should have taped it.
There's a pack of dog-eared cards here somewhere

Bigbusiness · Dec 10, 2005

Pat494 said:
Did you see that programme last night on BBC2 about the new poker phenomen on the internet ??
An average housewife made 8*s her starting wedge ( in controlled conditions - so no cheating ) in only about 2 weeks !!
Maybe we are in the wrong business ?
I should have taped it.
There's a pack of dog-eared cards here somewhere

That was an interesting programme. I have played a lot of online poker. Made a lot last year playing single table and multi table tournaments, but I haven't cracked the cash tables, and have giving back most of my winnings trying to work out a winning strategy. Perhaps I should just stick to the tournaments but I like the cash games, where you a playing for money instead of chips. Will have to observe the lady on the programme last night, to see if she plays cash or tournaments. If she can make that much money from $100, it is worth giving it a serious go.

Just like trading, only a small % of poker players make money, so it is not that easy to be a winner.

Pat494 · Dec 10, 2005

Bigbusiness said:
That was an interesting programme. I have played a lot of online poker. Made a lot last year playing single table and multi table tournaments, but I haven't cracked the cash tables, and have giving back most of my winnings trying to work out a winning strategy. Perhaps I should just stick to the tournaments but I like the cash games, where you a playing for money instead of chips. Will have to observe the lady on the programme last night, to see if she plays cash or tournaments. If she can make that much money from $100, it is worth giving it a serious go.

Just like trading, only a small % of poker players make money, so it is not that easy to be a winner.

They did mention something about tournaments. The man they were following won the first table, but lost at the next one. I don't know much about it, but he seemed to have lost all his stake money.
They gave Party Gaming.com quite a few plugs. I had a look at the website. Poker seems to have changed since my mispent youth. Now it's 2 hole cards and 3 or 4 in the middle face up.
Do you know of a good book on it ?
Is it a good time to jump in before all the mugs get cleaned out ?

Bigbusiness · Dec 10, 2005

Pat494 said:
They did mention something about tournaments. The man they were following won the first table, but lost at the next one. I don't know much about it, but he seemed to have lost all his stake money.
They gave Party Gaming.com quite a few plugs. I had a look at the website. Poker seems to have changed since my mispent youth. Now it's 2 hole cards and 3 or 4 in the middle face up.
Do you know of a good book on it ?
Is it a good time to jump in before all the mugs get cleaned out ?

I have flicked through a few books but they don't seem to cover playing online. The online game is often loose and not like playing in real life. This forum has lots of information and is probably better than any book:-

http://forumserver.twoplustwo.com/ubbthreads.php?Cat=0

I think there will always be plenty of mugs, as people seem to like gambling. Just look at the number of people still pushing money in to slot machines, when they know there is no chance of winning in the long term.

SOCRATES · Dec 10, 2005

Here is a riddle for all of you to consider:~

If there is a great number of people still pushing money into slot machines, when they " know " there is no chance of winning in the long term, surely they are doing this because they " know " it must be the right thing to do, surely ?

Otherwise why would they persist in doing it, if they " know " there is no chance of winning in the long term ?

commanderco · Dec 10, 2005

SOCRATES said:
Here is a riddle for all of you to consider:~

If there is a great number of people still pushing money into slot machines, when they " know " there is no chance of winning in the long term, surely they are doing this because they " know " it must be the right thing to do, surely ?

Otherwise why would they persist in doing it, if they " know " there is no chance of winning in the long term ?

The answer is too simple SOC.
Most people are conditioned to believe that they need to spend money in order to enjoy themselves.
Welcome to the markets!

Bigbusiness · Dec 10, 2005

SOCRATES said:
Here is a riddle for all of you to consider:~

If there is a great number of people still pushing money into slot machines, when they " know " there is no chance of winning in the long term, surely they are doing this because they " know " it must be the right thing to do, surely ?

Otherwise why would they persist in doing it, if they " know " there is no chance of winning in the long term ?

They do it for the thrill of winning what seems to them like a large amount of money every now and then. They can forget the small amounts they lose all the time. I used to watch this happen in my local pub, now I observe it at the poker tables

Pat494 · Dec 10, 2005

Poker

Bigbusiness said:
I have flicked through a few books but they don't seem to cover playing online. The online game is often loose and not like playing in real life. This forum has lots of information and is probably better than any book:-

http://forumserver.twoplustwo.com/ubbthreads.php?Cat=0

I think there will always be plenty of mugs, as people seem to like gambling. Just look at the number of people still pushing money in to slot machines, when they know there is no chance of winning in the long term.

BB
Thanks for the website. Just had a look for books. A couple were there that sound promising
Texas Hold'em by Phil Helmuth
Internet Texas Hold'em by Matthew Hilger
Will have to be in the top 20% to be profitable apparently

Bigbusiness · Dec 10, 2005

Pat494 said:
BB
Thanks for the website. Just had a look for books. A couple were there that sound promising
Texas Hold'em by Phil Helmuth
Internet Texas Hold'em by Matthew Hilger
Will have to be in the top 20% to be profitable apparently

The Phil Helmuth book might be good for the basics but he doesn't give much away about the strageies he uses.

If you have Sky TV, the best way to learn is to watch poker night live at 10pm every night on channel 226. They show all the cards the players are playing and go through the thought process you need to win. They have a website with a good forum, www.pokernightlive.co.uk/

Quercus · Dec 10, 2005

Hi guys this is a fantastic book about professional gambling which was recommended to me by a former trading contact for trading. The section on money management is particularly useful, and it's interesting to note how many former and present traders are mentioned.

Six Secrets of Successful Bettors
Try here:
http://www.amazon.com/gp/product/1932910964/104-8080205-0858357?v=glance&n=283155
Cheers
Q

Pat494 · Dec 11, 2005

Quercus said:
Hi guys this is a fantastic book about professional gambling which was recommended to me by a former trading contact for trading. The section on money management is particularly useful, and it's interesting to note how many former and present traders are mentioned.
Six Secrets of Successful Bettors
Try here:
http://www.amazon.com/gp/product/1932910964/104-8080205-0858357?v=glance&n=283155
Cheers
Q

Thx - more about horse racing I guess, but still about betting though.

karmit · Dec 11, 2005

SOCRATES said:
Here is a riddle for all of you to consider:~

If there is a great number of people still pushing money into slot machines, when they " know " there is no chance of winning in the long term, surely they are doing this because they " know " it must be the right thing to do, surely ?

Otherwise why would they persist in doing it, if they " know " there is no chance of winning in the long term ?

One of the reasons why many people in this country are under lot of debt...

wheezergeezer · Dec 11, 2005

If anyone's interested you can use and online simulator where you play against other people with
"play " money, one I use is www.pacificpoker.com
Ive used others to , so I'm not recommending anyone in particular its just that pacific was easy to use, there are interesting parallels with trading, ie you think you've got the best poker hand, until someone beats you, you buy some stock you believe is going up/down that someone else has just sold who believes the opposite etc, I always want to win and hate to lose, recognise when to quit, or get out, when not to play, or and I over play....sound familiar ?
I believe all traders can learn a lot from playing poker , I really enjoy the game and only use play money, I was really anti -gambling, but I do enjoy the game and will maybe get to a stage where i'm good enough to play with real money, can't believe I'm saying that but its true!
Ive just realised Ive only read the first page of this dissucusion, so I appologise if this has been covered ! Maybe meet you at the Internet poker some day...........good luck

Bigbusiness · Dec 11, 2005

Here's a nice hand I had yesterday. I had a flush draw and another player hit a straight. He only put in a tiny raise and I had good odds to see the last card. That made my flush and he was kind enough to pay a nice fee to see my cards at the end.

Trader333 · Dec 11, 2005

I do know of one person who has made over £100K playing online Poker. He is a bit of an expert in the game and it has paid off hansomely.

Paul

Quenkish · Dec 11, 2005

karmit said:
One of the reasons why many people in this country are under lot of debt...

the house price boom is preventing many people from going bankrupt as they have borrowed against the inflated house value. once house prices come down back to earth then i think we will have armageddon.

Quenkish · Dec 11, 2005

Trader333 said:
I do know of one person who has made over £100K playing online Poker. He is a bit of an expert in the game and it has paid off hansomely.

Paul

paul there are a few (a small few) who have made millions to hundreds of millions out of online poker. they are the site owners, the "skins" & the marketers of poker sites. £100K is great but it is peanuts to what these people are making.

Pat494 · Dec 12, 2005

Bigbusiness said:
Here's a nice hand I had yesterday. I had a flush draw and another player hit a straight. He only put in a tiny raise and I had good odds to see the last card. That made my flush and he was kind enough to pay a nice fee to see my cards at the end.

good going BB with a flush. Hard cheese to the player with a straight - he must have thought he was on a winner.
I have been looking at page 226 on SKY. Rarely more than a pair !!

SvenFoster · Dec 12, 2005

Pat494 said:
good going BB with a flush. Hard cheese to the player with a straight - he must have thought he was on a winner.
I have been looking at page 226 on SKY. Rarely more than a pair !!

The guy with the straight should have put in a bigger raise to reduce the pot odds for BB, he didn't and so BB hit his flush and made him pay.(as for channel 226 I've seen 1 royal flush, and as for single pairs that can be enough on no-limit)

This just somes up texas for me...
Playing with an edge.
Betting big when you've got something good in front of you.
Not playing everyhand and waiting for the cards.
....and after all that anything could happen on the next card so you need to employ MoneyManagement.

Casper on 226 just summed it up a couple of weeks ago, when he said something like:- if you play over the long run i.e 100K hands everyone will see the same cards...
The same cards!! and yet some players go on to be big winners and others will be losers. The only thing that separates players over the long run is betting, when/if you bet, how much you bet and playing with the odds in your favour = your edge.

...hmmm

sound familiar???

I've only been playing poker ~4months and let me tell you this, texas no-limit cash is the cannines hoojamabits, like Cable with 200:1 leverage... I know I'll trade every 3mins with no stop...

Pat494 · Dec 12, 2005

Texas Hold'em
Again on page 226 a lot of folks seem to fold with less than Ace high hole cards. I guess the betting order comes into play too ??

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