I tend to do most things in a type of rotation. I’ll play a particular computer game for a couple months, then get tired of it and move onto something different like work. So I’ll focus on work for a month then get tired of it and move onto something else like movies or watching MMA.
Right now my thing is online poker. I’ve played poker off and on since 2004, but played the most in 2004 and 2005. I rarely played in 2006, and for the most part of 2007, but have gotten back into it.
I understand that some readers of my blog think I should not talk about poker, and focus solely on web business, but you could certainly argue that poker IS an online web business. I know that a lot of people consider it purely gambling, or think that even if you’re a winning player, that unless you’re a professional or something that you won’t make more than the occasional few hundred bucks.
While it’s true that most people lose (it’s been estimated that 90% of online players are long-time losers, and only 5% make decent money), you may be very surprised to see just how many ‘kids’ are raking it in (no pun intended).
I won’t get into the details or give any specific examples, but there are a few poker forums I visit where there are dozens of 18 to 25-year-old’s who are millionaires. And those who aren’t millionaires are just grinding the 2/4, 3/6, 5/10 tables and making an easy $30,000 a month. And consistently at that.
So, I think it’s fair for me to blog about my return to online poker as it’s income you’re making from the web. There are only two downsides poker has to web publishing. It is not passive income, and there is a greater potential of going broke.
My poker goal has always been to move up to $1/2 No-Limit and win consistently. It’s hardly a high goal, but it’s still a very modest one if you ask me. For the majority of my online poker ‘career’ (for lack of better word, don’t laugh) I played $0.25/$0.50 (2005-2006) and $0.50-$1.00, and have just very recently moved up to $1/2. I chose $1/2 for my goal because I think it’s the level where somebody can actually play and make a very decent amount of money. Enough to live very comfortably off of.
I never made it my final goal; if I manage to win consistently at $1/2 over a long period of time (hands), I’ll obviously raise that goal and try to move up to $2/4, but the jump from $1/2 to $2/4 is a major one in my opinion.. perhaps one of the most difficult jumps in poker because suddenly you’re dealing with $1,000 pots.
Anyhow, I’m going to try to start a new online poker series.. who knows how long I’ll last. Maybe I’ll go bust soon and this will all end in a few days, but in any case I think it will be very interesting to follow my progress – even if you don’t know anything about poker.
Here’s a hand I played yesterday. I thought I played it quite well, but got sucked out on the end even after my very good read, but that’s poker
My opponent in the hand (Tecknowledgy) is a good, very successful player who has a lot of theory and knowledge under his belt (I know him from another poker forum). I think he normally plays 2/4 and 3/6 so probably moved down to 1/2 temporarily from tilt.
My username is KiD[ReD]:
PokerStars Game #11916804145: Hold’em No Limit ($1/$2) – 2007/09/07 – 02:07:58 (ET)
Table ‘Siegena III’ 9-max Seat #8 is the button
Seat 2: Tecknowledgy ($226.95 in chips)
Seat 3: bobojon ($124.35 in chips)
Seat 4: BigLiveOne ($99.60 in chips)
Seat 6: MrForcus ($198 in chips)
Seat 7: luckyplayzz ($153.80 in chips)
Seat 8: KiD[ReD] ($348.55 in chips)
Tecknowledgy: posts small blind $1
bobojon: posts big blind $2
*** HOLE CARDS ***
Dealt to KiD[ReD] [Qh Kd]
BigLiveOne leaves the table
KiD[ReD]: calls $2
Tecknowledgy: raises $10 to $12
KiD[ReD]: raises $18 to $30
He raised the last two times I limped on the button so I reraised.
Tecknowledgy: calls $18
*** FLOP *** [8s Qd Jc]
Tecknowledgy: bets $44
I felt I knew his style very well, and it screamed like a protective “block bet” to me. So…
KiD[ReD]: raises $50 to $94
Tecknowledgy: raises $102.95 to $196.95 and is all-in
I felt he pushed as a cbet to get me off the hand. I suspected he had some marginal holdings.. small pp or caught a Q or J with a small kicker. His strategy lead me to believe he was hoping for fold equity as well, which is why I called:
KiD[ReD] said, “(“
KiD[ReD] said, “guess im committed now”
KiD[ReD] said, “i shoulda pushed”
KiD[ReD] said, ““
KiD[ReD]: calls $102.95
*** TURN *** [8s Qd Jc] [4h]
*** RIVER *** [8s Qd Jc 4h] [9h]
*** SHOW DOWN ***
Tecknowledgy: shows [Js Tc] (a straight, Eight to Queen)
KiD[ReD]: mucks hand
Tecknowledgy collected $452.90 from pot
Looking back over the hand now, I feel that it might have been better for me to push on the flop for fold equity and to place the decision on him instead. Also, I made myself pot-committed anyhow so pushing would make more sense to me now that I think of it.
Below is a graph of my earnings from the past few days:
As you can see, that $500 hand loss gave me quite a dip. But I just shrugged it off and kept playing.
The chart above are the results from only 3 days of poker. Each day I played about 3-hours. So in the past week I’ve only played about 9-hours online and made $1400. 9-hours is next to nothing when it comes to poker, so I’ll hopefully play more soon.
The only reason why I’m not playing more is because I’m studying up a lot on all the stuff I missed from my long absence. I’ve also been busy trying to write a bunch of paid PPP reviews for my blog. Hopefully my backlog will be finished soon.
I blurred out the three columns because they are incorrect (hours showed at 72 for some reason, I think because I’m currently 7-tabling).
So there you have it! Let me know what you think of this post because I’m interested in hearing your opinions. Are you guys looking forward to seeing my progress, or not really?