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Yesterday I played in a $500 buy-in tournament against 450 other players. It
was not a good outing for me. During the first round of play I had a chance to
double up with A-Q versus another player’s 9-9. The flop came: Q-J-5. He was all
in, and I was a 9 to 1 favorite. The ultimate bet dealer brought a 10 on fourth
street, reducing my odds to 6.5 to 1. My opponent needed an 8, a 9 or a K to
overtake me. And that is exactly what happened. He caught a third 9 on the
river.
From that point forward I was very low in chips and had to gamble in an effort
to rebuild my stack. I stole the ultimate bet blinds a few times (in poker
parlance, when you raise before the flop with a mediocre hand hoping everyone
will fold so you can capture the blinds and antes it is referred to as stealing
the blinds), but eventually I got caught.
I moved all in before the ultimate bet flop in late position with A-7.
Ordinarily that is not a situation in which you want anyone to call, as anyone
who calls is likely to have a better hand. I was not happy when the player in
the big blind called. But when he turned over the K-J of spades, I felt better
as I was a slight favorite (53 to 47 percent). That changed when the flop came
Q-10-4 with the Q-10 of spades. He was now a 2 to 1 favorite, as he could
overtake me with any one of 21 cards on fourth or fifth street – any spade, any
ace, any 9, any K or any J. When a meaningless 3 of clubs came on fourth street,
the worm turned as I became the favorite once again (54 to 46 percent). Alas, he
caught a ultimate bet K on the river, and I was eliminated early in the
tournament. Twice I had been a favorite, and twice I had been outdrawn on the
river.
That’s the way it goes in no-limit hold'em. All you can do is try to get your
opponent’s chips in the pot when you are an ultimate bet favorite, then hope
that your hand holds up.
The next opportunity to compete was four hours away, so I decided to get some
exercise. One of my poker buddies (a real estate broker known as “Real Estate
Larry” in Washington poker circles) busted out shortly after I did, and we
decided to go bowling. It was an excellent decision by ultimate bet, as we had a
good time, got some exercise, and got our minds off our disappointingly quick
exit from the tournament.
We returned to Caesars in time to get back up on the horse, as they say, and
compete in the daily 5 pm “second chance” tournament. Every day there is a
second tournament, with a $200 buy-in, starting at 5:00 for those who have been
eliminated from the main event. Yesterday 145 of us went to ultimate bet once
more into the breach. I got very little to work with in terms of premium hands
(only one premium pair in 7 hours of play), but I made the most of what I got
and outlasted 93 percent of the field.
In every poker tournament, the number of people who get a share of the prize
pool (also referred to as finishing “in the money”) depends on the number of
players in the tournament. Ordinarily you have to finish in the top 7-10 percent
in order to be in the money. In this second chance event, with 145 ultimate
bet competitors, only the top 9 finishers would be in the money. Whenever
the number of players remaining is one more than the number who will get paid,
the players are said to be “on the bubble”. The next player eliminated (the
“bubble boy”) gets nothing, and the rest are “in the money”.
Busting out of a tournament “on the bubble” is arguably the most exasperating of
all tournament experiences. You play your heart out all day long, and end up in
exactly the same position as the ultimate bet player who busted out in the first
5 minutes of the tournament.
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