Friday, January 11, 2008

Why Saving That Extra Chip Counts

I started off the New Year playing online and it was BAD. I had transferred out a bunch of my cash to some friends so I had already recovered my initial load of $200. I still had $145 and another $110 coming from rakeback plus a $75 bonus from FTP for their Iron Man promotion.

Things were looking good! Or so I thought. It was either the booze or the massive amount of meat but I wasn't thinking straight. I took a horrible beat when my nut flush was broken by a full house and I instantly reloaded. It went all downhill from there. All 4 tables I played went busto.

Now I usually play 100 points everyday and stop regardless if I win or lose. I find it a good stopping point because I am forced to play as if poker was an ongoing session. In fact I had played 29 days in December for 100 points each allowing me to get gold Ironman. I had exactly the same mentality this year and I looked at my point count. I was at 96.45 points but I only had $15 left from $145!!!

I was so tempted to just blow the $15 or get to 100 points as I usually did but I held back... I thought that this $15 spelled my last chance and I wasn't taking that chance when I was on tilt especially since I still had $110 from rakeback coming. I shutdown my computer... and was glad I did.

The next day I did pretty well and doubled the $15 to $30 (it really sucks to move down limits). I then entered a small $3 KO tourney and placed second for a tidy $45. I was back up to $75 and feeling good. Now I must have appeased the poker gods a bit because they started showing some pity of my tiny bankroll and I posted 9 straight winning sessions.

Net result is I am now up $615 and here to stay!

The morale of the story: Don't throw away that last chip just to get it over with. Every dollar saved is a dollar won. And every dollar is capable of winning more. A lot more.