Finding the Edge in Poker and in Life: Part 2

De Niro

At the end of the movie Casino, Ace, the Robert De Niro character, laments the passing of the old Las Vegas. “In the old days, dealers knew your name, what you drank, what you played.” I miss the old days, too, but if you are to survive today, you have to adapt to the changing landscape. In Part 1, I touched on the subject of finding the edge in poker if you want to survive. I would like to expand on that idea and show poker players how they have the power to improve their playing conditions and even elevate the game itself.

Poker players may not realize how valuable they are. A player supporting a card room could be worth up to $50,000 a year to that casino. If your favorite casino provides all the right deals, you will become loyal and very valuable to them because you support their games with all the hours you play. I have always preached you can’t produce revenue if the players are not coming through the door. Whether you are a professional or recreational poker player, as a group we are worth millions to the gaming industry.

Casinos should understand a high limit poker game is worth over a $1 million in real money per year. When you factor in the money from their friends and other income they bring in, that is the X factor. This is an intangible number the bean counters miss on their spreadsheets, and that’s when you see perks start to disappear. The casinos have a bottom line, but you have to operate your poker business and manage your bottom line above all else.

However, some casinos do understand your worth and really reach out to their players. Many casinos are now adding extra perks for the poker players. They have rakeback up to $6 per hour and even free transportation to and from the casinos. That’s important as players search for the best return on their investment.

One of the casinos that is listening to their players is Pechanga Resort and Casino around 90 minutes outside of Los Angeles. They offer high hand money every hour beginning at noon, a free roundtrip bus ride and $10 in free play for patronizing their casino on certain days. The drop is $1 cheaper per hand than other casinos in Southern California. That alone is a reason to consider playing there. The $50 they give away every hour in high hand money for the Omaha game and $250 per hour for hold’em games is an added bonus. The fact they are adding that much money back to the table really helps a poker player’s bottom line.

Where you spend your valuable time and money is a very important decision that affects not only you, but the entire gaming industry. It’s time for players to take a stand and not just accept the status quo. Express your opinion to upper management. As someone who has spent many years on the tables and in boardrooms, I can say that the higher the decision maker the more receptive they are to suggestions. They did not get to the top without the ability to listen and adapt.

If they don’t listen, play somewhere else. It’s that simple. This is the only way things will improve. The casinos are all vying for your time and money. Take the time to find the best deals and patronize those places that cater to their players and avoid the ones that provide no added value.

Speaking of added value, it’s long overdue for tournaments to add money for the players. In the old days tournament players would say, “That was a great tournament. They treated us so well. I can’t wait for the next year.” Nowadays I often hear players grumbling about the fees, the structure and all the other things they don’t like about the tournaments, yet they continue to play them. Instead of complaining to each other, wouldn’t it be more productive to take grievances to the decision makers who can change it?

At the end of Casino, as the images of the old casinos being imploded are shown, Ace says, “The town will never be the same….Today it’s like checking into an airport.” In the old days, everyone knew your name. Now registering for a tournament does feel like checking into an airport. The accountants have taken over, and casinos can sometimes feel like cold, sterile places. But there are still some places that remain dedicated to their players; it’s our jobs to find and support them.

Remember you are the most powerful weapon. Your choices matter, whether it’s in poker or in life. That’s the greatest edge of all.

Robert Turner is a legendary poker player and casino marketing expert. Robert is most well- known for introducing the game of Omaha poker to Nevada in 1982 and to California in 1986. He created Legends of Poker for the Bicycle Casino and the National Championship of Poker for Hollywood Park Casino both in 1995. He also helped create Live at the Bike, the first live gaming site broadcast on the Internet in 2002.

In the year 2000, he created World Team Poker, the first professional league for poker. He has spent over 30 years in casino marketing and player development and has served as an executive host at the Bicycle Casino and MGM. He is currently working with his new companies Crown Digital Games developing mobile apps and Vision Poker, a poker marketing and managing group.

Follow Robert on Facebook at https://www.facebook.com/thechipburner and on Twitter @thechipburner. Robert Turner can also be reached at robertturnerpoker@gmail.com for consulting, marketing and teaching.

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So You Want to Be a Poker Pro?

Rounders

The following article originally appeared on cardplayerlifestyle.com.  Thanks to Robbie Strazynski for allowing me to reprint it.

After 50 years of playing poker, I have gained some insights along the way that might help anyone considering becoming a professional poker player. Like any endeavor in life, there are great rewards as well as pitfalls, and it is necessary to be fully aware of them before making such a life-changing decision.

You’ve Got to Have Poker Plan

Unless you inherited a great deal of money or sold a tech company and have a bankroll of millions of dollars, you are going to need a plan. You need enough courage and discipline to elevate your game in steps. This means if you win $200 at the $3/$6 game one day, jump over to the $6/$12 or $200 No Limit, and if you can win $500 at that table, go to the next level and so on.

You must move up in limits and games. You can’t just grind it out. You must parlay the money. The days you are winning are the times to push it up. In my case, I was fortunate that tournaments were introduced in the early 70s, and I was able to parlay tournament wins into buy-ins into bigger tournaments, and I did well enough that I was able to retire at 36.

In the 80s, when hold’em was legalized in California, I decided to come out of retirement and move out west. I started playing $20/$40 and wondered how anyone could survive playing at that level.

I calculated that you had to win over $60,000 a year, plus another $30,000 to $60,000 in collections to cover your expenses and to be able to deposit even a single dollar into a savings account. And that budget did not account for losses! It is said that poker wins and losses are year-to-year, but your personal expenses are day-to-day, and that’s why it is imperative that you push your game up and manage your bankroll.

Understand Your Potential to Win

poker rake

It’s tough to beat a game with a huge rake

To become a pro, you must have an understanding of your potential profits and losses and ask yourself what you can win in this game. A good friend of mine named Ray Hall, who was my road partner at the time, taught me about the importance of understanding and analyzing a game. We once traveled to Texas to play in a No Limit game. At the time, he was playing in games with buy-ins starting around $2,000 with no cap, which was huge for the 70s. I was only playing $20/$40. This place provided both games.

The first night Ray beat the game for $15,000. I won around $500 and thought it was a good night. I said to Ray, “That was a good night for you, right?” I was shocked by his answer when he said, “It was a good night, but I think we should check out of the motel and go back to Alabama.” We had planned to stay a few weeks.

I asked him why and he said, “Robert, they are raking the game $5 a hand. No poker player alive can beat that rake.” I never paid that much attention to the rake before. I just thought it was the cost of doing business. You have to pay attention to what is on the table, what’s coming off the table and what your chances are of beating that game. If you don’t do that, you’re drawing dead.

Choose Your Opponents Wisely

shark fish

You’d much rather be the shark than the fish

Another element of your game you must master is choosing your opponents wisely. The players that have always caused me the most difficulty were the ones who were looking to exploit every single edge and when there was no edge, they would quit the game and look for the next easy spot.

These players are the survivors in the poker world that have stood the test of time. Whether you like their style or not, they are the true pros. To survive like them, you must look for the edge every day of your pro poker career if you want to stay in the game, and that starts by avoiding playing with them at all costs and selecting games you can beat.

A story that illustrates this concept comes from my days playing gin rummy. I once played a guy named Eddie, who supposedly was Stu Ungar’s mentor in gin rummy. Now I was playing the master and I knew I was outclassed. However, I got lucky in this match and beat him, which was a devastating blow to him.

Later in a bar that night at the Tropicana in Las Vegas, he challenged me to go to his room and play some more gin rummy. I knew this would not be a good situation for various reasons. I looked at Eddie and said, “Why don’t we find someone we can beat?” He understood exactly what that meant.

Why would you ever play a match where it was dead even or your opponent played better? I can’t stress enough the importance of choosing your game wisely and matching up with your opponents carefully to maintain an edge.

Understand When You’ll Have an Edge

edge pokerThis is the reason pros love mixed games so much. They are always looking for weaker opponents who haven’t mastered some of the games to create an edge for themselves. Without the ability to do this, there is no reason to sit at the table. This is the cardinal rule of poker. You must master at least four different games to play at a world-class level.

The following story is an extreme example of how critical it is for professional poker players to find players they can beat. It will also help you understand the psychology of gamblers. It involves my long-time friend Ray Hall again (or Mighty Ray Hall, as he liked to call himself). He is also one of the funniest guys I have ever been around in gambling.

I was invited to a game in Georgia where I was told they were playing 14-handed hold’em. They were literally using a rake to push the chips across the table because the pots were so big. The host said the only bad thing was that they were raking $15 a hand, but it is the wildest game you will ever see. I called up Ray and he said, “I can’t beat a short-handed game, much less a 14-handed game.”

When I told him the details, he quickly changed his tune and said, “When can you leave? Let’s go now.” I asked, “Ray, what about the rake?” I will never forget his response. He said, “If those fools are allowing that rake, I want to meet them because I am sure I can beat them!”

When we arrived, I saw the biggest table I had ever seen, with a paper grocery bag underneath it being used as the drop box. Ray was right – that was the liveliest group of people I had ever played poker with. They didn’t care about the rake; they just wanted to gamble. He had a better understanding of the mentality of gamblers than I had at the time.

Check Your Ego at the Door

This next subject is rarely spoken about, but it is the Achilles’ heel of many pros (in my opinion), and that is ego. A friend of mine who had cashed in several tournaments for over $2 million in one year’s time asked me for some career advice. I told him to take $60,000 and hire a PR firm to help with his image so as to create a legacy that might help him with sponsorships and teaching in the future when things went south.

He agreed, but I knew it was a long shot that he would heed the advice. He has now fallen on hard times, and all I can wonder is why didn’t he invest in himself when he had the chance? His ego made him believe he was going to win forever.

Reflecting Back on My Years Playing Poker

What have I learned after all these years of playing poker? To play professionally, you need to protect your bankroll, choose your games and opponents wisely, take advantage of every edge you can find, and, most importantly, have balance in your life.

Poker has given me a blessed life, but it has not been without regrets. If you allow it to, poker will take a toll on your personal life. Poker Hall of Fame member Fred “Sarge” Ferris, after he found out he was dying, told Doyle Brunson to “stop and smell the roses.”

The game may reward you with material things for your family and bless you with memories you may not have otherwise had. That said, reflecting back on my years of playing, I have to say I wish I had spent more precious time with my family and a little less time playing. Remember, the game is not going anywhere. Keep your friends and family close because you can’t make it without their support.

I hope you take all of this advice to heart. These are things I wish someone had told me. If you see me at the table, or Ray Hall (who, at nearly 80 years old, still plays poker in Tunica, Mississippi), feel free to share your stories about your life on the felt.

About

Robert Turner is a legendary poker player and marketing expert.  Robert is most well-known for introducing the game of Omaha poker to Nevada in 1982 and to California in 1986.  He also created the Legends of Poker for the Bicycle Casino in 1995. He helped create Live at the Bike, the first live gaming site broadcast on the Internet in 2002.

He has spent over 30 years in casino marketing and player development and has served as an executive host at the Bicycle Casino and MGM Grand.  He is currently working with his new companies Crown Digital Games developing mobile apps and Vision Poker, a poker marketing group.

Robert is available for consulting, marketing or teaching. Reach him at robertturnerpoker@gmail.com.

Finding the Edge in Poker and in Life: Part 1

image

The movie Casino has a line where the Joe Pesci character says, “I had to earn, didn’t I?” after being barred from the casinos in Las Vegas permanently. Though he resorts to questionable means of making a living, this idea of looking for ways to survive applies to poker. Poker players who want to stand the test of time need to find an edge. This ability to find and exploit an edge is the main factor in who makes it and who doesn’t.

The following story illustrates how you can have both earning power and an edge at the same time. I was heads-up with a player named Mike Harthcock in the last satellite for the World Series of Poker Main Event. I got Mike all-in. We turned our hands over, and Mike showed ace deuce against my ace king. On the flop, an ace hit. Mike was dead to a deuce with two cards to come.

Mike spoke up and said, “Robert, if I don’t win this satellite, I can’t play. What do you want to do?” I said, “Mike, if a deuce comes, I get 20 percent of you. If not, you get 5 percent of me.” He said, “Thanks, Robert. You have a deal.”

The satellite was worth $10,000, so I could potentially earn $2,000 in value if a deuce comes. If not, Mike earns $500 in value.

The river was a deuce. That was a bad beat, but my consolation prize was I now had 20 percent of Mike for my earn.

I could sell that 20 percent, or I could gamble. Mike was a very good player, so why not keep the 20 percent? As it turned out, Mike finished second in the WSOP Main Event that year for $300,000. I earned $60,000 for that dam, I mean, golden deuce.

Let’s talk about tournaments in today’s changing landscape. Nowadays many tournaments have multiple starting days and rebuys. Some of these tournaments are a bad value. Even though I was partially responsible for creating this new landscape, I realize it is not a good deal if you are trying to get an edge and earn.

Deals are made all the time in tournaments, but you first have to cash to earn. The large fields and high variance of these multiple starting day tournaments make cashing extremely difficult. The cardinal rule of tournaments is cash first and win second. Cashing always come first. There are tournaments running every day, so while a thousand dollars in prize money may not seem like a lot at the table, it is a lot in your pocket the next morning.

You must treat your poker playing like a business, not just a game. I cannot emphasize this point enough. You must calculate all the costs of running your poker business. Let’s say your expenses to travel to a tournament where you play a few events are $1,800. On the other hand, if you could stay and play tournaments closer to home, or even play online, that decision may be a way to earn using that $1,800 you saved to play another tournament or two.

One of the best articles I have ever read on the difficulties of becoming a live tournament specialist nowadays is called “Why You’ll Never Make a Living Playing Live Poker Tournaments” by Darrel Plant. I highly recommend reading it if you are serious about becoming a poker pro. In my case, I was fortunate that when tournaments were introduced in the early 70’s, I was able to parlay tournament wins into buy-ins into bigger tournaments, and I did well enough to be able to retire at 36.

I remember the early days of my poker career when getting an edge was the furthest thing from my mind; I just wanted to play. In those days I would go to Las Vegas on junkets several times a year. The routine was the same. I would check-in, leave my bags at the bell desk, take a taxi to the Stardust and play poker for three straight days and nights until my plane was scheduled to depart. I remember always thinking there may never be a game like this one again.

I destroyed any possible edge by my lack of discipline, but experience is the best teacher. Getting your ass kicked until you decide you can’t take it anymore makes you re-evaluate your game and habits, and when you conquer those demons, you’re well on your way to making money at poker.

In Part 2, I will discuss specific strategies, such as choosing the best games and taking advantage of casino promotions, which give you an edge in your game. Every time you sit down at a poker table, remember the immortal words of Joe Pesci: “I had to earn, didn’t I?”

Robert Turner is a legendary poker player and casino marketing expert. Robert is most well- known for introducing the game of Omaha poker to Nevada in 1982 and to California in 1986. He created Legends of Poker for the Bicycle Casino and the National Championship of Poker for Hollywood Park Casino both in 1995. He also helped create Live at the Bike, the first live gaming site broadcast on the Internet in 2002.

In the year 2000, he created World Team Poker, the first professional league for poker. He has spent over 30 years in casino marketing and player development and has served as an executive host at the Bicycle Casino and MGM.

Follow Robert on Facebook at https://www.facebook.com/thechipburner and on Twitter @thechipburner. Robert Turner can also be reached at robertturnerpoker@gmail.com for consulting, marketing and teaching.