It's been a while since I last posted, not because I haven't been playing, but because nothing of note has really happened. I've been kind of stuck in bankroll limbo, not making any significant gains or losses recently. I did play in my first ever Omaha tournament the other day, and I finished in 8th place out of slightly less than 200 people. It was only a $3 tournament, though, so it wasn't much in the way of a prize (~$20 or so).
I've been attempting to build my bankroll using the rules outlined in Chris Ferguson's challenge, which basically amounts to the following:
- Max buy-in for an SNG or cash table: 5%
- Max buy-in for an MTT: 2%
- If playing cash and your stack reaches 10% of your bankroll, you must leave the table when the blinds reach you.
- You can play any MTT that costs $2 or less.
I was doing pretty well building it up by playing SNGs, but my profits were erased by crap beats at the cash tables. I think I pretty much need to play SNGs only at the moment because you simply can't force people to fold their draws for miniscule amounts in the cash games. While this will win in the long run, my bankroll can't really sustain a bunch of short term losses.
Speaking of bankroll, most of it is on Absolute Poker, since that's where my ad revenue goes. Given the recent blowup on that site, I have not been playing there and will be removing that money sometime this month. I've also changed my ad revenue to be in the form of PSO points, so I will just pull out gift certificates or something instead of playing on AP. Hopefully PSO will offer online gift certificates for Full Tilt or Pokerstars soon, then that way I can just make the exchange from points straight onto those sites.
So for now it's going to be a lot of monotonous SNGs until I get my bankroll up to a reasonable level. Then maybe I will be back to playing some blogger tournaments. I miss playing those because they are a lot of fun, but unfortunately they are horrendously -EV. Good luck to the rest of you, and I will see you on the felt.