I'm baffled by my tax bill.
Sure, I was better prepared for it this year than last. I paid quarterly estimated taxes for the first time and have the bankroll to absorb the hit. But I still got sticker shock when my accountant showed me the damage.
I estimate that I'm paying about a third of my $60,000 in 2007 gambling winnings to the IRS.
Sucks.
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Blinders' post about bet sizing encouraged me to be more careful, especially on the flop.
It's way too easy to throw out a 2/3 or 3/4 pot-sized continuation bet rather than thinking about making a more precise amount. I subscribe to the idea that continuation bet sizes should be based on flop texture, not your hand. A coordinated board requires a bigger bet; an uncoordinated board only needs a smaller bet. I generally size my bets between 2/3 and full pot.
Making more precise bets makes perfect sense to me. You want to be accurate and studious in every action. If you aren't paying attention to how much you're betting exactly, you're more likely to get into a bad situation. Correct bet amounts encourage your opponents to make mistakes, which results in money for you.
In the big picture, paying attention to bet sizes improves my game because it forces me to think about the hand rather than simply blasting the pot.
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2 comments:
You'd really be screwed if you had a losing year -- that means you can't deduct the full amount of your losses.
Doing taxes may be complex and a bureaucratic chore, but as I told Shammie one time, "The gub'mint needs bullets, Shammie."
"I subscribe to the idea that continuation bet sizes should be based on flop texture, not your hand. A coordinated board requires a bigger bet; an uncoordinated board only needs a smaller bet. I generally size my bets between 2/3 and full pot."
Very well said, Gnome. I still can't believe how many players miss the point of either the first part of your statement (that one's c-bets should be based on the texture of the flop and how many draws, etc. there are), or the second part (that proper c-bets generally come in between 2/3 and the full pot. Not more (unnecessary), and not less (worthless).
Nice post as always.
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