Sunday, October 16, 2005

Using VP$IP to Put Opponents on a Range of Hands

Frequently, players use Heads-Up Displays (HUDs) to display PokerTracker stats on their opponents in real-time. Some HUD programs available include PlayerView, GameTime Plus, and PokerAceHUD. However, many players utilize displaying stats like VP$IP and PFR in addition to auto-rate data to get a "read" on opponents.

Many players, however, don't have the slightest idea of how to interpret this data into anything useful. This article hopes to change this.

My auto-rate rules for Limit Holdem utilize a few different classes of players, including "tight," "semi-loose," "loose," and "extra-loose." But how does this specifically help you assign a player to a range of hands? The classifications alone don't really do much to help, since these classes utilize ranges of VP$IP's to place players into these categories. A tight player, for example, is any player with a VP$IP < 21%. Semi-Loose players are those with VP$IP's between 21-34.99%. This is likely the least useful classification, as so many different players fall into the category. We will examine these ranges of VP$IPs in terms of Sklansky's hand groupings to more accurately estimate the quest for knowledge contained in the second level of poker thought--"What does my opponent have?"

There are 1,326 unique combinations of 2 cards possible to make a 2 card Holdem hand. Actually, there are 2,652, but I am considering Ah-Ac to be the same hand as Ac-Ah, as we all should, as the order the cards are dealt has no bearing on the hand. To continue with the methodology, there are 6 ways to make a pocket pair, 4 ways to make a suited hand, and 12 ways to make an offsuit hand. Now, on to Sklansky's groups:

Group 1 Hands: AA, KK, QQ, JJ, and AKs. There are 28 ways to make these 5 hands, 2.11% of the possible hands.
Group 2 Hands: TT, AQs, AJs, KQs, and AK. There are 30 ways to make these 5 hands, 2.26% of the possible hands.
Group 3 Hands: 99, JTs, QJs, KJs, ATs, and AQ. There are 34 ways to make these 6 hands, 2.56% of the possible hands.
Group 4 Hands: T9s, KQ, 88, QTs, 98s, J9s, AJ, and KTs. There are 50 ways to make these 8 hands, 3.77% of the possible hands.
Group 5 Hands: 77, 87s, Q9s, T8s, KJ, QJ, JT, 76s, 97s, Axs, and 65s. There are 98 ways to make these 18 hands, 7.39% of the possible hands.
Group 6 Hands: 66, AT, 55, 86s, KT, QT, 54s, K9s, J8s, and 75s. There are 68 ways to make these 10 hands, 5.13% of the possible hands.
Group 7 Hands: 44, J9, 64s, T9, 53s, 33, 98, 43s, 22, Kxs, T7s, and Q8s. There are 106 ways to make these 20 hands, 7.99% of the possible hands.
Group 8 Hands: 87, A9, Q9, 76, 42s, 32s, 96s, 85s, J8, J7s, 65, 54, 74s, K9, and T8. There are 132 ways to make these 15 hands, 9.95% of possible hands.

Taking these percentages not alone, but cumulatively, yields a different perspective on the whole VP$IP argument. Remembering that in a full ring game, between 2-5% must be added to the derived percentage to obtain a true idea of VP$IP (to compensate for looser calls from the blinds), and in a 6-max game, between 6-10% needs to be added. We'll take the mid-range for the sake of argument and use +3.5% for full ring and +8% for shorthanded tables.

A Player Plays Hands Up toFull Ring VP$IP6-max VP$IPClassification
Group 14.11-7.11%8.11-12.11%Very Tight
Group 26.37-9.37%10.37%-14.37%Very Tight
Group 38.93-11.93%12.93-16.93%Tight
Group 412.7-15.7%16.7-20.7%Tight
Group 520.09-23.09%24.09-28.09%Tight/Semi-Loose
Group 625.22-28.22%29.22-33.22%Semi-Loose
Group 733.21-36.21%37.21-41.21%Semi-Loose/Loose
Group 843.16-46.16%47.16-51.16%Loose
Any Two Suited or Worse>47%>55%Extra Loose


As you notice, this is by far not exact, in that ranges overlap, and that players do not have the solid cutoffs as displayed in the Sklansky groupings. This should give you a good idea, however, of hands you can expect a player to be proceeding with based on their VP$IP.

Utilizing Pre-Flop Raise Statistics



The statistic that I've felt has been overlooked by many PokerTracker and HUD users is actually not PFR, but a statistic that is not immediately visible, unless it is calculated. For example, a player with a VP$IP of 16%, and a PFR of 8% has a raising frequency of 50%. To me, the overall PFR number tells you a great deal about how aggressive a player is pre-flop, and about how to proceed with a weaker holding with this player to your left. The raising frequency statistic (which can be calculated quickly while looking at a player's stats) tells more about what hands this player will actually execute a raise with.

The difference: A player to your right has a VP$IP of 27%, and a PFR of 1%. You are dealt 55 in MP. Should you call here? Yes. You are unlikely to be raised by this player, and if you are, you know that this player likely holds a premium hand. This tells you that this hand should likely be even more of a "set it or forget it" proposition. The VP$IP tells you that this player is playing hands down to Group 6, but only raising with his monster hands (the top 1%), Unless you hit a 5 on the flop, you need to be folding. You're likely beaten, especially if an Ace or a King hits the flop.

Now, on the other hand, this player has a VP$IP of 27%, and a PFR of 18%, Same hand, 55 in MP. Calling here and putting the action on him is telling you that since this player raises 2/3 of the hands he plays, you are very possibly going to have to call another bet if you call the first one. However, it is also a signal that you are not necessarily beaten without a set. He may be raising with QJs, or even less.

Raising frequency just puts another idea into your head as far as playing a hand properly goes. Much of this information becomes less useful as players become trickier, but this information, and understanding how to use it, can go a long way into providing "reads" on players whose faces you can never see, and into getting the most from your PokerTracker license.

Surviving The Downswings

Something I've learned while playing this game is that regardless of how solid a player you are, eventually the deck goes cold. Eventually, you endure downswings. I'm currently in the midst of a >50 BB downswing, which may not seem like much, but at the 5/10 level can be pretty significant.



So how do we survive these swings of variance? First, this is why we build bankrolls. We build a bankroll that is enough to comfortably play at a certain level, and we rarely if ever exceed that comfort area. This is crucial, especially if your bankroll is considered irreplaceable or you have a high "risk of ruin." Risk of ruin is the chance you'll go "poker broke." In fact, there is a formula that we use to calculate what kind of bankroll we need given a certain win rate and a certain standard deviation (obtainable within PokerTracker from the "Sessions info" tab and pushing the "More detail" button). The formula requires a scientific calculator, but here goes:

Bankroll needed = -(Standard deviation2/2 * hourly win rate) * ln (risk of ruin)


For me, here are my statistics (post downswing):



So, Bankroll needed = -($141.682/2 * $24.82) * ln (0.01) I used 0.01 because I want to play with a 99% confidence that I will not go broke. $141.68 is my hourly standard deviation, and $24.82 is my hourly win rate at 5/10. I come up with $1862.24 as the bankroll number needed to play 5/10 within the limits of variance I set. I am well within that bankroll number so we're fine there.

Second, we NEVER go up limits to try and recoup our losses. This could be disasterous. A 50 BB downswing at 5/10 is bad enough. One at 10/20 is twice as bad. Plus we tend to want to always push harder. This doesn't get us wins--it gets us heartache and trouble. We make bad plays, out of position and lose more money.

So what does a player do who is playing well but in the middle of a downswing? Go back to basics. It happens to all of us. If you smooth the graph above out, it looks like a perfect sawtooth pattern. I win, then I have a downswing, then I win again. Play solid poker. The cards will come your way again. Don't change your game to compensate for losing. If you've moved up levels like I have, you're obviously good enough to play where you are--you don't win 4+ BB/100 hands over tens of thousands of hands from 0.50/1 to 5/10 as a fluke. Don't force things--only bad things come of it, and you become like the fish, the very people we hope to exploit. That is, you make poor plays--certainly, you may get lucky, but making -EV plays even in the short term can be nothing but -EV in the long term.

Walk away. Take some time to do something else. Clear your mind, especially of those thoughts that say, "Pocket Kings? Oh, crap, watch me lose with these again." Confidence and mindset are a lot of what seperates the fish from the sharks.

All players endure downswings--its how we push and grind through them that shows if we're a good player or a great player.

Tuesday, October 11, 2005

I'm In...

Poker Championship

I have registered to play in the
Online Poker Blogger Championship!

This event is powered by PokerStars.

Registration code: 6247240

Saturday, October 08, 2005

Decision Made

After a lot of consideration, I've decided to (in what isn't really a surprise) go semi-pro. I have a new job that I enjoy, and have no desire to take poker to be my primary income (unless of course I take down next year's main event). So what I'm going to do is essentially withdraw a chunk of my winnings every week or month or so, or dependent upon how much I win, and either save that money for the baby, the family, or just so the wife and I can do something nice.

I'm playing 5/10 online now, and have the bankroll to support higher live games. People are also beginning to ask to stake me in larger games, so I'm actually going to treat poker as a sort of supplementary income. Not full-on professional, but just an activity that makes me extra money. We'll see where this gets me now.

Thursday, October 06, 2005

Dilemma and Crossroads

I'm at somewhat of a major crossroads here today. Over dinner, my wife and I discussed my poker playing, and she is fully in support of me. However, she asked me what my goals were from playing.

I didn't have an answer.

I realized that I have well over $2000 in my PokerStars account doing NOTHING for me. The next step up for me in LHE is playing 10/20, and that's a HUGE step from 5/10. It's a bankroll-doubling step. At my current risk tolerance (starting bankroll of 200BB or 20 buy-ins), that would require me to have >$4000 in the account. At what point do I start taking this money, these winnings out? I've already taken some winnings out to pay for her bracelet, but what is poker really doing for me right now?

So here's my dilemma. Do I just keep playing, trying to make enough money to move up another limit to try and make more money to move up another limit to 15/30, then 30/60, then 100/200?

Or do I start taking profits from what has been a profitable game for me to right now? Do I take profits out and invest them? Spend them? What do I do from here?

This would involve me essentially becoming (by it's definition), a small-time semi-pro poker player. As I'm sure many of you know, I have a very lucrative career that pays me great money. I truthfully have enough money to stake myself in fairly high-limit games. I could easily take $2000 out of the bank and head to AC tonight and play 20/40 or 30/60. I wouldn't miss the money. But, iIs that what I really want? Or do I just want to keep poker as a profitable hobby and be happy where I am right now?

I'm not sure of the answer. I'd like to hear people's take on this. I don't have any plans to quit my job to play pro poker any time soon. I'm not by my nature a "gambler," in the sense that I also have no intention to plop down $10k to buy into the main event at the WSOP (not that I wouldn't play if I win a seat). I enjoy playing poker. Is becoming a semi-pro risking making this into a "job" or is it just creating a way to make money from my enjoyable hobby?

Sunday, October 02, 2005

We Interrupt This Blog...

For a good old-fashioned rant.

This has nothing to do with poker, so if you don't want to continue, stop reading now.

Last night, I went to the movies with my wife, and my brother and sister-in-law to see The Exorcism of Emily Rose. The movie was okay, but what I'm ranting about isn't the movie, it's the ignorant assholes that attend them. We go to the 10:20 pm showing last night to mainly avoid the crowds (and the kids). We get nice back row seating, and eventually, a boyfriend-girlfriend couple and their friend sit in front of us.

No problems, right? Well, the previews begin, and my wife looks at me and says, "What the hell is that flashing blue light?" I think for a second that she's lost her mind, but then I see it. Most people have problems with people who use their cell phones in the theatre. But this is a new one on me. This putz is sitting in the movie theatre with a wireless Bluetooth earpiece in her ear. An earpiece that blinks with an obnoxious blue LED every 3 seconds. In a darkened movie theatre.

Now I looked after the movie, and this idiot looked to be in her early 20's. My question is this: Who the hell needs to be connected in a movie theatre at 10:30pm on a Saturday night? Who the hell does she think she is? Someone important? What the hell could be so important that you can't put this goddamn earpiece and its annoying flashing fucking LED away for 2 goddamn hours? It got annoying enough that the other girl with them asked her to remove it. So what did she do? She moved it to her other fucking ear. I don't get it. My wife and I are both healthcare professionals, with our jobs directly affecting people's lives. If you're on call and can't stand to be away from your cell phone for 2 fucking hours, then here's a news flash--STAY THE HELL HOME. We do. My wife carries a pager 24/7, I rotate call. Nothing this little bitch could be doing could be THAT important that she needs to have this little friggin' light in her ear constantly. Does she wear it when she goes to the bathroom taking a crap? Does she wear it when she's screwing her unfortunate boyfriend? Good, then ya know what? Don't wear it in the friggin' movies.

Rant over.

I've continued playing the 5/10, and I won a $223 pot with turned quad 8's. The increased action has me playing tighter, with less speculative hands than I'd play at 3/6. My goal is essentially to play tight/solid to start, then as I gain comfort in the stakes, to introduce some more speculative hands in position.

Some numbers, for example:
0.50/1: VP$IP: 22.95%, PFR: 7.53%
1/2: VP%IP: 18.67%, PFR: 5.73%
2/4: VP$IP: 18.56%, PFR: 7.19%
3/6: VP$IP: 16.73%, PFR: 7.14%
5/10: VP$IP: 15.67%, PFR: 5.22% (only over 500 hands).

Notice how the VP$IP drops as limits go up. This is a function of not only increased limits, but as becoming a more solid player. Let's hope it continues.