Thursday, August 09, 2007

Bonus Trap

Well, crap.

I went busto on Full Tilt, leaving my total remaining bankroll a shade over $30,000. Sure there were bad beats, but it was ultimately my fault for losing there.

Long story short: My Full Tilt account reached a high of about $45,000 sometime around January, but then I withdrew $25,000 in spring, mostly to pay taxes. Various losses,transfers and backing deals brought my Full Tilt roll down to $3,600 before this week's bonus. Then I started playing the bonus at 5/10 and quickly lost 2 buy-ins, then played 2/4 until it was gone.

Now, this isn't a major disaster or anything because I'm still healthy at other sites. But it is stupid and embarrassing to have gone all the way to $0 on a site. If I were to do things over again, I wouldn't have played higher than 2/4 on my limited roll, and I would have stopped before my account got too small to have a good chance of coming back.

There are lots of reasons for losing on Full Tilt, including a bonus-chasing mentality that gave hands played a higher priority than money won. I love bonuses, but that's just dumb.

Another problem was that I didn't leave myself with enough money on Full Tilt to play the limits I wanted to, and I was unwilling to drop below 2/4.

On the other hand, I knew that there was a chance I would lose by playing with relatively little money in my account, and I'm not overly pissed off that that possibility came to pass. Shit happens, and I was aware of the risk going in.

I'm left feeling the same way about my game that I did around this time last year -- I know everything I need to know to win, and it's just a matter of execution to make it happen.

I should be careful when playing bonuses. I can make big folds. I can be at peace with unsuccessful bluffs. I should quit playing if I'm not thinking clearly. I can slow down. I can handle the downswings.

I know the right plays at the right times, and there's no reason to feel lost at the table unless there's something wrong with my mindset.

It's all the same old shit. Poker players are at war with themselves to play their best games and do what they know is right. So do it.


TripJax said...

Writing it down and evaluating is the best thing you can do. Good luck going forward...

Craig Cunningham said...

As an expert in going busto online, I can safely say that it sucks and never gets easier. Hang in there.

Anonymous said...

Learn the lessons and move on.

You can beat poker, you'll be back.