LAISSEZ LES BONS TEMPS ROULER

BY: Russ Fox

"Intelligence is not something possessed once for all. It is in constant process of forming, and its retention requires constant alertness in observing consequences, and open-minded will to learn and courage in readjustment." – John Dewey

Have you ever been to New Orleans? Well, the title of this article is Let the Good Times Roll. This article diverges from the norm and focuses not on Omaha but on no-limit Texas Hold'em. Why, you ask? Well, as I walked into my local cardroom I saw that they are now spreading a $100 buy-in (maximum and minimum) no limit hold'em game. I observed the game for a few minutes and saw some incredible things, so I put my name on the board for the game.

I will admit that I'm not the world's greatest Texas Hold'em player. However, many of my opponents in that game had no clue whatsoever of what they were doing. For example, I held AA and raised pre-flop (the blinds are $2 and $3) to $20. Three players called. My chip stack was about $150; one of my opponents had me out-chipped while the others had slightly fewer chips.

The flop came A72 with two hearts. I was first to act and bet $60, roughly the pot size. One player, who might have a clue folded. Player B (he held 88) called. Player C (he held 65) re-raised all-in (an additional $80). As player B held less than $80 I just called (I had $10 more). Player B called all-in. Player B actually got one 8 on the river but I still tripled-up.

In no-limit, draws are death. Rarely will you get the correct odds to draw (especially if you are up against an intelligent opponent). It is one thing to throw $3 into an unraised pot before the flop; it is quite another to throw $60 into a pot when you still need two cards! Seriously, what hand did player C think I could hold that wouldn't beat a six-five? Player B's call of the all-in bet wasn't that awful (his first call of my $60 bet was horrible, though) as he only had $20 more.

The key in no-limit is to always think ahead. Hands like KQ are fine in limit hold'em but are behind to A2. This isn't such a big deal in limit when a bet (or raise) is a fixed amount. In no-limit, though, things can get expensive!

Yesterday I played in the same game. I raised under-the-gun (UTG) with AK to $15. A late position player re-raised me all-in (to about $120); I thought he also had a big Ace so I called (I felt I was either way ahead or tied with him). I was correct as he held AQ. According to Steve Brecher's Hold'em Showdown I will win about 71% of the time. However, my opponent made a flush (runner-runner hearts). I recovered a bit and lost only $76 in the game.

Yes, you can lose in no-limit even when your opponents are making mistakes. Poker, like life, isn't fair: the best hand does not always win. But if you have any skill in reading players, no-limit currently provides a juicy opportunity.

If you find a cardroom with a fixed buy-in no-limit game take a look at it. You may discover that the game is quite loose. If so, by playing tight you will be a winner over time. Most of the new players in these games have been conditioned by watching the WPT to play almost any two cards. While that may be a reasonable strategy in a shorthanded tournament situation it is not a good idea at a full table of a ring game.

Yesterday, after cashing out I spoke with the poker room manager of the cardroom. I asked him how long he felt that these games would be so good. He laughed, noting that his cardroom has seen a huge increase in business, and mentioned that they almost can't run a $50 buy-in evening tournament any more due to the high demand (they had 800 for such a recent tournament). He felt that the no-limit live games would be good for another two to three years. I think that they'll be good for one to two more years. No matter, for now they represent another opportunity to have a good time and to win at the tables.

Just remember, in no-limit observe your opponents. I watched one opponent play draw after draw and go through $600 very fast (he called raises with hands like 76s). If you can find such a game, and I suspect that many of the no-limit fixed buy-in games are like that today, consider adding your name to the list.

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