For completeness, here is a summary of 2011. The calendar year cut-off is a bit arbitrary, however, since I became a pro in August 2010 and I've already done a summary of my first year as a pro here.
Graphs below (blue line is profit inclusive of rakeback; red line is EV profit excluding rakeback).
First, cash at Full Tilt (rakeback pro ftw ) :
STT's at Full Tilt (sng's, where have you BEEN all my life?):
Lastly, STT's at Party ("Black Friday?" what was that?):
Total profit for the year was approximately $22,225, about $5000 of which remains stuck on FT. There's not really much point lamenting further what could have been achieved if I had switched to sngs sooner, nor that I could have managed greater volume/profit if my health had been better, nor the sad effects of Black Friday and Full Tilt's decline. These things are already the past.
As I mentioned, despite the loss of momentum the Full Tilt collapse entailed (i.e. having to grind up all over again from the $22s when I had just reached the $60s on FT), I'm not sure it made that much difference overall.
So I guess it was a pretty good year. I will turn 36 later this month and over the last five years since I quit my legal career I kept telling myself that 35 was the age by which I needed to have found a credible alternative. I think my family considers my current line of work to be somewhat of an incredible alternative. Either way, I guess I just got the career change through in time. Here's hoping HM Revenue & Customs doesn't go getting any bright ideas later this year about taxing me to death...
Nice review Tim. Actually i think it was a very unfortunate year for you. First of all you ran exceptionally bad AI EV wise in the cash games. Not to mention black friday. But i'm glad that you found your way back to STT's and now seem to be doing really well there. And after all you really deserve some success with all the work you've put in since i started knowing you.
I'm almost certain that if you think 2011 was a good year that 2012 is going to be a really great year for you as long as you keep up the good (and hard) work you are doing. Just keep it up
Also Tim, i want to thank you for the support you gave me in 2011. I really appreciate that you took time to help me in rough periods.
Good luck in 2012, i'm sure you can make it a really great year. Just keep it up.
Great year Tim, sincere congratulations. Been a somewhat silent reader for a very long time now and as I too am playing STT's after a long time with cash, you're definitely a huge inspiration.
With regards to UK tax, do you think 'gambling' winnings will be taxed at all in the near future? I've heard a bit of hearsay (think it was on PS.com coincidentally enough, or maybe im just imagining things again), that it's something the Government are considering. Any thoughts on this?
Also curious how you manage your bankroll post Black Friday. Obviously having such a large amount of $$ stuck on FTP sucks (fingers crossed on the reopen!), do you keep such large amounts on sites nowadays or are you now using an e-wallet like MoneyBookers or Neteller?
Originally posted by DannyG13
Great year Tim, sincere congratulations. Been a somewhat silent reader for a very long time now and as I too am playing STT's after a long time with cash, you're definitely a huge inspiration.
With regards to UK tax, do you think 'gambling' winnings will be taxed at all in the near future? I've heard a bit of hearsay (think it was on PS.com coincidentally enough, or maybe im just imagining things again), that it's something the Government are considering. Any thoughts on this?
Also curious how you manage your bankroll post Black Friday. Obviously having such a large amount of $$ stuck on FTP sucks (fingers crossed on the reopen!), do you keep such large amounts on sites nowadays or are you now using an e-wallet like MoneyBookers or Neteller?
Great review and all the best for 2012.
@MathhNes: Thanks
@DannyG13: Thanks, also!
Re tax, I've honestly no idea, though there was this article that ps.com linked to y'day.
re BR; exactly. I now keep more on ewallets relative to platform. Like 1/3 platform: 2/3 ewallet (instead of the other way round ). If BR ever gets big enough, I would aim to start moving it onshore (i.e. to mainland uk bank). Like 1/3 platform: 1/3 ewallet: 1/3 onshore bank, or s/th.
Hi Tim
Just finished reading most of this blog.
Wow what a blog!!
I doff my cap Sir (I’m a Northerner !)
You have handled the FTP scandal with amazing dignity, and your feelings and compassion towards FTP employees is a show of great inner strength .
Anyway enough rambling, keep up the good work and I shall be staying tuned .
Be lucky
Mark
btw
I noticed on my graphs when i looked at full ring and 6max separately that the 6max EV line was calculated wrongly and the red line went up much faster than it should have..
This may not be the case on party poker but im pretty sure it is on 888poker and full tilt 6 max (superturbos)
@Leito99, interesting. My guess is that this is a glitch for 888 since I think wholesale miscalculation for 6mx would have been picked up much earlier.
For reference, here is my 6mx graph from Party. As you can see, green and red lines are pretty much dead on after 2.5 K games:
In other news, just managed to rack up $100 of positive EV on a $33 HUSnG (i.e. $40 more than it is actually possible to win) by losing the following preflop allin's:
JJ vs J9o
AJ vs JKs
A7 vs A3
A4s vs JKs
It's done wonders for my red line...
(Just in case you're wondering, I'm not complaining; I won it in the end).
Faacyde is quite right in his most recent article when he says one naturally plays better when winning.
Since my painful Christmas crisis, the road to physical recovery has brought with it better concentration which, combined with a huge fat slice of run good, has enabled me to start 2012 in table-crushing mode:
All HUSNG
So, thank you, Santa for my belated stocking filler. I shall be on my best behaviour this year...
Glad you're running good (finally). A quick question if I may. What's the rake at the 33s (HU), and the same question goes if you've played 22s and 11s. Thanks
Originally posted by bjela
Hey man, long time no post here
Glad you're running good (finally). A quick question if I may. What's the rake at the 33s (HU), and the same question goes if you've played 22s and 11s. Thanks
Ty!
The general rule for rake on party poker heads up sit and go's is 10% of each player's contribution to the prize pool.
So you have $10 +1; $20 +2; $30 +3.
However, there are some small exceptions. The $11 turbos actually only have $0.75 rake ($10.25 going to the prize pool) which makes them - theoretically - better value.
There are no $22 turbos, only normal speed and super turbos -- don't ask me why.
There are only turbos at $33 (neither normals nor super turbos).
All kind of nonsensical, if you ask me. Normally you expect to pay less rake as you rise through the limits... and also to pay less rake when you pay faster games since the casino makes more in less time. But naturally at Party, giving value for money is not a priority.
Originally posted by bjela
Thanks, but that's what I feared. I thought of playing some of those on Party, but with that rake, I don't think so...
Without wanting to attract more sharks, be aware that high rake keeps away big grinders while not detering fish (who are not so bothered about the rake). Thus higher raking sites may have easier games...
You can always calculate what additional ROI you need, to make up for the higher rake, and decide whether it's realistic.