Michael Craig

I played the World Series of Poker* Main Event for the first time in 2006 and like all rookies, I was involved in endless discussions of “The Hypothetical.” You know, it’s the first hand and you’re in the big blind. Five players move all-in. You look down at pocket Aces. What do you do?

Some first-timers insist they will fold, and plenty more at least entertain the idea. Chances are that no one has to face The Hypothetical, but what about the more plausible nightmares at the beginning of a deep-stack tournament? What if you raise with Aces and get four callers? What if you have Queens in the big blind after a raise and re-raise? The early stages of a big tournament can be mortal terror for a neophyte.

Experienced players make fun of the rookies’ discomfort, but they ignore the underlying issue at their peril: with a giant stack and a lot of action, a premium hand like pocket Aces can quickly lead to trouble.

This is why I think there are a lot of times when pocket 5s are better than pocket Aces. In fact, when I get pocket 5s, I may want to be against pocket Aces. This idea synthesizes advice I received from three of my expert collaborators on The Full Tilt Poker Strategy Guide: Tournament Edition.

• Andy Bloch “In his chapter on pre-flop No-Limit Hold ‘em, Andy explains how your goal with A-A is to get all your chips committed when you’re a huge favorite or are playing against a single opponent. The deeper the stacks, the less likely you are to accomplish these objectives.

• Chris Ferguson “Chris’ philosophy is to minimize the number of difficult decisions you have to make during a hand, and maximize the number of difficult decisions your opponents have to make. With enough chips for betting throughout the hand, a player with an over-pair faces decisions that get more difficult on each successive street.

• Richard Brodie “In his chapter about online No-Limit Hold ‘em tournaments, Richard explains how tournaments have two phases: the “implied-odds” phase and the “showdown-value” phase. When stacks are deep, you want to accumulate chips with hands that offer the best implied odds ” hands that can make the nuts and/or out-flop an opponent willing to double you up with a “superior” starting hand.

Playing Aces can be dangerous when you and your opponents have deep stacks. In contrast, a small pocket pair like 5-5 can’t get you in much trouble. Given that you’re going to flop a set approximately 1 time in 8, how do you know when it’s worth playing small pairs if you only have a 12% chance of making a strong hand?

For the answer, you should consider the following factors:

• Stack size ” If it costs more than 12% of your stack to see the flop, you’re not getting the right implied odds. Adding in the times when you make a set but don’t get a big payoff, you need at least 15 times the size of the raise (probably 50 times the big blind) to achieve the risk/reward ratio that lets you call with small pocket pairs. (In these calculations, the relevant stack size is the smaller of your stack or your opponent’s.)

• Pre-flop position ” The best situation is being in late position, calling the raise of a tight player in early position. Ol’ Tighty probably has the kind of hand that will pay you off if you hit. In late position, you can even possibly call a re-raise with a small pocket pair. You need more than 8 times the cost of the call, but not much more ” the re-raise suggests a hand that will pay you off. (You have to consider, however, that anyone left to act may push all-in before the flop.) In early position, there’s a temptation to limp with a small pocket pair so you can call a late-position raise. That’s a mistake for several reasons. You give away information about how you play (both in this hand and in the hands where you don’t open-limp), create a limper-friendly hand that is unlikely to win you a big pot, and make it easy for Mr. Aces in late position to make a giant re-raise to chase you (and other limpers) out.

• Post-flop play ” All streets after the flop are Easy Street. If you miss, you have an easy decision to fold. If you hit, you have an easy decision to play fast and get that over-pair or top-pair/top-kicker to try to push you out (especially if the flop suggests you might be moving with a drawing hand). With small pocket pairs, post-flop position isn’t that important, and that’s rare in No-Limit Hold ‘em. If you join me in taking the advice of these outstanding poker pros, you can be causing, rather than suffering from, nightmares in the early stages of a tournament, whether it’s online at Full Tilt Poker or at the WSOP* Main Event.

Chris Ferguson

“Should I quit my job and play professionally?”

“Should I drop out of school and just play poker full time?”

I get these questions all the time and I always give the same answer: “Unequivocally, absolutely not. No way.”

Clear enough?

If you want to explore being a professional poker player, you have to start out doing it part time. Spend your off hours thinking about poker and studying the game. Read and play and learn.

Before you even think about quitting your job to play full time, you should be making more money at poker than you are in your current employment. Don’t think that one big tournament win provides all the evidence you need that you’re ready to play professionally. You should be showing consistent profit over a period of at least six- months. Only at that point should you even entertain the idea of becoming a full-time pro.

Even then, you should be wary about taking such a step. Poker is a great pastime, and playing it casually is a lot of fun when you love the game. But when you become a pro, you have to play poker five or six days a week. In time, playing cards will start to feel a lot like a job. I happen to love every occasion I get to play, but for many people, it can become a grind.

On the tournament circuit, you can play well and still go months – or even years – without a big cash. In ring games, the hours can be brutal. When you’re a cash-game pro, you want to be playing when the other players are off their game. This means you should start late, when people are getting tired and gambling a little more than they should. So you might play from 11PM through the morning, and sleep most of the afternoon. Keeping these kinds of hours can be difficult for those who want to maintain a more traditional social life.

Another risk is that you may not play enough. It can take a lot of self-discipline to put in enough hours at the table. With no boss on your tail, you might find it tough to put in the hours that you need at the times that are most profitable.

Before you make drastic changes to your life – before you even ask the questions posed at the start of this article – you should know that poker will work for you. You should have long, profitable periods that serve as evidence of your abilities. You should have put in enough hours to know that you can really enjoy the game, even when it becomes the center of your professional life. You should know that you can endure some long, tough, unlucky stretches.

If you’re really sure you’ve got what it takes and poker does become your career, I look forward to meeting you at the table.