Student Pay’s Off $60,000 student Loan Playing Online Poker

I thought this might be an interesting article to list since I only started this new site less that 2 weeks ago. This site is all about debt and everything that goes along with it. I barely had this thing up and going and i was getting emails from people telling me their debt stories and I have no place to put them so I figured I would add them on here until i’m ready for them so here it is:

To: whom this may concern,

I noticed you started this new site and wanted to hear about debt and all the stories people have whether good or bad. Well I have an interesting story for you not one that a lot of people would agree with but one that I did and paid off in a big way. I graduated from Ohio state in 2005 and had no idea what i wanted to do in life. I had around $60,000 in student loans and was being “killed” (sorry but I didn’t know what other word to put there) by the interest on the loans as you know many of us students are. I worked my butt off and tried to pay this down during school and didn’t have much luck with the cost of living.

So one day I was surfing around on the net and saw all these articles about online poker and I said what the heck let’s try it out, one site was offering 100% match on my deposit. Now i’m from a very religious home and gambling is not tolerated.

So here goes I deposited $800.00 it was the last of my student loan money and well I was up $500.00 in the first 10 minutes, I thought AWESOME here I go. I played for several hours and didn’t move very much that day. So the next day I woke up and played again I went UP $2500.00. I was darn near rolling over on the floor. So I figured I would go grab something to eat and came home and played again. Now i’m thinking I have issues with gambling. So I figured if I went up anymore I would quit. Well that never came I went down $600.00

On to the next day a Sunday (god’s day)hahah I thought OK i’m gonna win today. I wasn’t playing for 20 minutes and I was broke. I LOST it ALL I didn’t know what to do talk about depressed. So back to the drawing board. I started mowing lawns and was making OK money but the thrill of winning that money playing poker never left my head.

Now that everyone thinks I have a gambling problem I went on and played again FOR FREE this time and went into a FREEROLL tournament(is a tournament you can play and win small amounts of money or entries into bigger tournaments) so I play about 20 tournaments lost them all and started to give up. There was one more tournament at 9:30pm for a free entry into a big tournament. The problem was there were 2500 people playing for this. Well I played and 8 hrs later I won the tournament and I was in to the big tournament.

So the following Saturday is the big day. Well I was late by 30mins I was down big time but I was still in the tournament just sitting out every hand. 7 1/2 hours later I was the winner of $100,000.00 Yes I could not believe it and I still do not believe it but here I am today debt free of $60,000 and off to the wonderful game of life.

Till this day I have not played online poker or any type of gambling. I figured My wish was granted

CHEERS

GOOD LUCK WITH THE SITE LOOKS GOOD

Daniel Negreanu Shows His Best Poker Skills On A Tournament

Daniel Negreanu is one of the most known and respected poker players. He is not only a great tournament and cash player: his reputation also comes from his friendly and nice personality. He has one of the biggest (if not the biggest) fan bases as well. In this article you will see an amazing read from Daniel Negreanu.

The game is tournament no-limit hold’em with 9 players and the blinds are $100/$200. Adam Joens makes the call in UTG with 2h7h. It is a very loose call from UTG with the worst possible combination of cards. At least it is suited! Negreanu looks at his pocket nines (9d9c) and raises to $2 200. A reasonable raise to decrease the number of players and maybe it is even enough to win the pot right there. The next player, Peter Antill also has a pocket pair but a lot smaller (4s4c). His hand is still valuable with good implied odds if he hits it so he calls the $2 200. Now the amateur players make the hand a bit crazy: first the big blind call with KdTs and Joens does not want to fold his deuce-seven eihter makes the call. Four players see the flop. The pot is $8 800.

2s4h6d is the flop, giving Joens a pair of deuces, Antill a set of fours, and Negreanu an overpair of nines. Adam Joens makes a probe bet of $2 800 with his deuces. Daniel Negreanu starts his “amazing read series” in the hand and senses weakness. He raises to $10 300. Antill asks: “$10 300? I call.” I really liked his call. He wants more money in the pot. He thinks that with a raise he can scare the other players away and that is the last thing he wants. He can also make calmly the call because it is unlikely that someone would make a call with pocket threes or fives to hit a straight and there are no flush draws either. The board is just perfect for slowplaying against overpairs. The two other players fold. The pot is $32 200.

The turn is the 8s. Although Daniel still has an overpair he does another amazing read on Antill and checks. He was thinking if Antill made such a large call on the flop that means he had to hit. The board is so dry Antill would not call with a single pair. Overpairs are also not likely because there is a good chance Antill would have reraised with them before the flop. Antill then makes a surprising but great play. He feels weakness from Daniel but he does not want to scare him away. He checks on the turn hoping he can win an extra bet on the river.

Now comes the interesting part. The 8h on the river gives Daniel two pairs and Antill a full house. Daniel checks and Antill bets $15 000, a nice value bet. Daniel Negreanu shows his amazing reading ability and makes the following comment right after the bet: “Make it $15 000 with pocket sixes or pocket fours. Which one is it?” He tries to get information from Antill but this strategy does not work. Daniel does not understand why Antill checked the turn, but he confesses: “If you bet the turn I was just gonna fold.” He ends his analysis with the following comment: “I am gonna fold the second best hand.” Antill mucks his hand and takes the pot.

As you see poker is not about luck at all. Daniel Negreanu is an amazing player with amazing reading skills. He knew when he had to bet, raise, check and fold.

The Secret Algorithm Used by Online Poker Sites

It is no secret that online poker sites use an enormous amount of security and encryption to protect their software from poker bots, colluders, and cheaters. However, one secret they can not protect is the deterministic algorithms they use in their software that decides the outcome of hands. Furthermore, any person that knows the algorithms can easily and simply win more often in online poker.

Why are they using algorithms anyway?

Initially, online poker sites had no need for extra algorithms used to ‘level the field’ as the simple use of a random number generator (RNG) would appear to produce a fair shuffle and seemingly accurate game. However in 2001, after several programmers were able to expose the flaws of the RNG and the inability of the RNG to produce an adequate number of random decks, (thereby making it easy to predict the flop, turn, and river), the online poker sites had to make changes.

After several changes were made in the seed generation of the RNG and sophisticated measures taken to produce a wider variety of random deck sequences, the online poker sites faced a new problem – collusion and cheating by unscrupulous players. This problem was addressed with a new set of algorithms that would produce a fair game by preventing colluding using sequential deterministic algorithms.

What Causes All Those Constant Bad Beats?

The implementation of those sequential algorithms intended to stop colluders actually created a new problem, it removed the true statistics and probability of the game. In other words, if you are holding pocket aces and the flop is A 9 Q, you essentially have a greater than 91% chance of wining the hand in live play. When the board finishes out 10 J or flush cards and you lose to a flush or straight by your opponent that is called a bad beat.

Simply put, the true odds of you winning the hand are no longer part of the game, because of the sequential algorithms used. These algorithms replace the true odds and determine the outcome based on their own mathematical decisions. That is why many people will claim that online poker is rigged.

What Is The Secret?

The secret is understanding how the algorithms work, and using that knowledge to curtail your own constant bad beats. In other words, the program makes a deterministic decision on the winning hand without regard to the odds, your outs, statistics, or any other true measure of the game. Therefore, if you want to win online poker, you need to understand the algorithms and put it to use in your game.

What is a CBet in Poker?

You might have heard the term CBet before in poker, but are unsure as to what it means exactly. A CBet isn’t a poker rule, but it is a common strategy. Well a CBet stands for continuation bet which is when you bet on the flop after you had raised preflop, hence – the continuation. You are simply following up your own bet, with another bet. This is usually done to represent a strong hand.

CBetting is one of the most common types of betting strategies because you are often doing this in position and you earn more value long term while controlling the hand, your opponent, and the pot size. A typical CBet is 1/2 to 2/3 size of the pot. CBets have a rather high success rate, especially against a single opponent. So let’s look at a typical CBet situation.

With the blinds at 10/20 in the early stages everyone has folded to you and from middle-late position in a single table sit and go, you decide to open-raise your KTos. So you make it 60 chips to go. Everyone, including the small blinds folds to your obvious power hand, except the big blind who calls, adding another 40, to make the pot 130 chips in total. Here comes the flop which has flush and straight chemistry. Your opponent who acts first decides to check to you. Now because of the board having a few draws out there you decide to bet 2/3 pot which is about 85 chips, making the pot now 215. That bet, is a text book continuation bet.

Now lets turn that play around and instead of your opponent checking, he actually led out with a bet of 85. That is not a continuation bet, as he was the one who called your bet preflop. It also negates you from making a cbet, although you always have the option of calling or re-raising. Given the early stages of this sit and go tournament and your small investment in the pot here, I would probably fold the KT rather than call or bluff here.

A C-Bet is a rather standard play against a single opponent, because if you represent strength before the flop, then you can reasonably do the same after the flop. However, against multiple opponents a Cbet is lot more risky and is apt to fail more often. For instance, if there were 3 callers preflop on this hand you stand a rather slim chance in taking this pot down on the flop, especially when it you are just betting king high.

Here are some tips for keeping your CBets profitable. Know what type of player called your preflop bet. Make your CBets smaller if you want to risk less or you happen to flop a huge hand. Also, look to get value from your hand by building the pot in smaller increments against loose aggressive opponents. These are players who are most likely to re-raise you when you have a strong hand.

To learn more about c-betting, watch how other players do it, even when you aren’t in the hand. By paying attention to more experienced poker players you get much more familiar with the game and will develop a keen understanding of the rules of poker.

Top 10 Mistakes Made By Amatuer Poker Players

1. Playing Too Many Hands

An early lesson in poker is to realize the majority of hands you are dealt must be folded. I’ve known an amateur player turn round to me and say You’ve got to play the hand you are dealt, why fold. I was shocked and soon put them right. However, there are a lot of beginners that seem to ignore this most basic rule.

They will call with ace-rag out of position, even call a raise with it, they play any two suited cards or even any picture card. You can get away with playing loose like this in a game of no limit hold em but you must have a strong post-flop ability to be able to pull it off.

Situation dependent, most of the time you are looking to only play premium hands such as high pocket pairs, and very strong aces. Simply fold the rest.

2. Not Folding Mediocre Hands

After the flop has hit, amateur players find it very difficult to let go of marginal hands. Suppose they hit middle pair or top pair with top kicker, the will find it hard to lay down. Its a crazy situation to still be involved in a pot holding top pair when there are flush and straight draws on the board and players are betting like theres no tomorrow. I’ve seen people play online when they will see their hole cards all the way to the river even though the board has paired up, AND there is 4-to-a-flush on the board, AND a straight possibility. They just wouldn’t let go of their flopped top pair.

The best hand on the flop may not always be the best hand on the river. Play with caution and don’t be afraid to get out if the action heats up and you are holding a marginal hand.

A good way to look at it is to look at the board and think to yourself “What two cards could my opponent be holding for them to beat me?”. If you can narrow it down to one or at most two sets of hole cards you should be fairly confident in carrying on playing. If you have to say to yourself “I hope he doesn’t have X, or Y, or Z, or A, or B or C…” then you should really think about folding. The more combinations of cards that your opponent could be holding that beat your hand, then the more likely it is they are holding one of them. If there is only one or possibly two combinations of cards that beat you then continue to play but with caution. Bet out or raise to gain information on how good your hand is. If they fold, you win the pot, if you are raised then you are probably beat.

There’s no shame in folding. Remember, especially in a tournament, poker scores are based on the player that loses the least amount of chips.

3. Under-Betting The Pot

In no limit texas hold em you can bet out as much of your stack as you like in order to protect your hand. You should be using this to your advantage. Weaker inexperienced players on the other hand tend to bet small amounts such as $30 into a $500 pot. These kinds of bets offer good players fantastic pot odds to call and suck-out on the river because of the money they stand to make in relation to how much it costs to see another card. A bet of around 75% of the pot is enough to discourage players on a draw. Any bet under half the pot is normally not enough.

4. Over betting The Pot

It is an easy mistake that amateurs make. They make a half-decent hand and the adrenaline kicks in and they decide to over bet the pot by pumping $300 into a $90 pot, or they move all in pre-flop for 1500 in a sit-n-go while blinds are still 15/30. The trouble with doing this, is that it makes hands weaker than yours fold, while hands stronger than yours call. By consistently over betting the pot you are either going to win a small pot, or lose a big one. Quite clearly not the optimum poker playing approach.

5. Ignoring Position

Knowledge is power in the game of no limit hold em. The more information you hold about the round of betting the better position you are in to act on this information. Playing hands under the gun means if you bet out, you could face a massive re-raise from a later position. You could check post flop in the hope of a check raise but instead find the entire table checks after you. If you are playing from a later position you have the ability to see what the rest of the table is doing before you act.

Amateur players will often ignore position and play a certain set of hands regardless of position. you should be playing only premium hands in early position, and then widening your range of starting hands the later your position becomes. TJ’s plays badly from UTG but very well from a late position.

6. Failing To Protect Your Hand

Many amateur players are guilty of playing far too passively. They will simply check or call unless they are 100% sure they have the best hand in which case they will raise. By failing to bet, or failing to raise they will make it easier for their opponents to draw out on them who might otherwise have folded. If you find yourself against a tight passive player, raise more often than you usually would and you can find yourself winning a lot of small pots.

7. chasing unprofitable draws

Playing a drawing hand is only ever going to be as good as the value of the pot you are trying to win. You should always fold if someone makes a bet where you are no longer getting correct pot odds to call. Amatuer players make the mistake of ignoring these odds and will call all the way to the river in the hope that they hit. It is possible they do not even understand pot odds or know what they are.

As frustrating as it is when monkey players like these suck out on the river you have to remember that they are playing bad unprofitable poker and they will end up losing more money than they win. Just make sure you are in the pot when they lose

8. Bad Stack Management

Amatuer players often neglect their stack size when it comes to playing holdem. If you are playing a cash game you should always have around 20 big blinds to capitalise on your monster hands. If you are falling short, then reload your stack. There’s no point hanging on with £50 in a £5/£10 cash game only to flop quads next hand and miss out on a huge pot. If you are playing a freezeout tournament, you should stop calling pre-flop when you are between 10 times the big blind (worrying) to 5 times the big blind (critical). There is no option but to push all in with any Ace, pocket pair, suited connectors or any hand under the gun.

You are looking to have enough chips to maximise your big hands, or to keep you alive in tourmanet situations. Bad players will flat call hands when their stack is 5 to 10 x BB. Good players will push all in. Bad players will not reload their chips in a cash game, good players will.

9. Adapting Your Style

There is a big difference between playing cash games and playing tournaments. In cash games you have to be prepared to put your entire stack over the line when you know you are going to win more times than you lose, when you have a positive expected value (+EV). If you lose then you can just reload. In a tournament you have to be more protective of your stack as if it goes then your are out of the game. There are many other subtle levels, but these are the fundamental differences between the two games. Bad players are those that do not adapt their game accordingly and play tournament strategy in a cash game and cash strategy in a tournament game.

10. Trying To Imitate The Pros

The generation of poker players coming through nowadays are those raised on watching it on TV. People have their favourite poker players they have seen making big bluffs and talking the talk. Amatuer players seem to copy-cat these actions in order to come across more professional. what they fail to realise however that on TV they are only watching edited highlights. Not every hand is a monster raise, or a trap, or a bluff – in fact most of the time it is one player raising with a genuine hand and everyone else folding. This is unfortunately the less interesting side of poker but it (should) represent a large majority of your game.

We have a generic nickname for these kinds of players at the table. Those that come in wearing the shades, the cap, the iPod, talking about how other players should have played their hands, talking crap. The nickname given is “All the gear, no idea”. Make sure you are able to spot these players if they are on your table and more importantly make sure that you are not one of them yourself!