I almost forgot to write about my "big" tournament cash last weekend. I played in a $5 rebuy tourney on Absolute. I don't usually play rebuys because I can't stand the structure. Everyone goes crazy until the first break and then they finally decide to start playing. If you haven't played in a rebuy tourney before, I will set the scene. Players go nuts looking for the quick and easy double up. They can afford to do because the rebuys are so cheap and plus they are unlimited for the first hour or until the break.
Back to the tourney, I bought in for $5 and that got me 1,500 chips. Right away, I did a rebuy which everyone does and got an extra 1,500 chips. Now, I started tournament with 3,000 chips and was invested for $10, so let the mayhem begin with 139 players. Like I said earlier, it was crazy at my table. Players were going all-in left and right trying for the quick score. If they busted, just a quick click of the button and they were back in trying again. This one guy at my table must have gone through $40 (doing the math, that is 8 rebuys). He was the chip distributor at my table. Everyone loved the fact that he was there because he was giving away chips like it was Christmas.
During that first hour, I played exactly one hand the entire time. Yes, that is right one hand. Can you guess what hand it was? Pocket aces and I doubled my chips to 6,000 or so. Now I say I only played one hand, but that was to the river. I played others and stole the blinds with no flop, so I don't really count those at all. We got to the break and I was sitting at around 6,000 chips. That was good enough for a place in the top 20 chip leaders.
After the first break, the rebuy period was over. We did have an opportunity to do a double add-on for $5 each. That gave us 1,500 more chips for each $5 spent. I did the double add-on and that push my chips to nearly 10,000. To recap, I am now invested in this tourney for $20 ($10 from the buy in and rebuy; $10 from the double add-on). The tourney began right now with players getting serious. We had a few bust during the first hour, but they would start coming fast now. Believe it or not, some people chose not to add-on or even re-buy. That left that in a serious chip deficit because most of us bought more chips. That leaves a huge hill to over come later on with blinds moving up.
My strategy early on was to play tight and conservative. With so many people left, I wanted to buy my time. I only played premium hands or hands that I had position on. If I played a hand, it was for a raise. As I anticipated, the bust out came with a fury. We got below a hundred pretty quickly. I was doing well so far. I would pick up a few blinds and that kept me on pace for the tournament. During the second hour, I didn't really play any significant hands. The blinds were still relatively low compared to my chip stack. That gave me the option of folding a lot and not having to worry about becoming short stack. All that being said, I managed to go into the second break adding a few thousand to my count. I was roughly around 12,000 once the break. I was feeling good that I managed to keep my position on the leader board.
In the third hour, I played a huge hand with a monster pot. I picked up A-7 suited in spades and made a raise in late position. I got two callers both of which were the blinds. The flop came out A-J-5 with two spades. That gave me top pair with the nut flush draw, so I was looking to get paid off. The small blind checked and so did the big blind. I made a bet of about half the size of the pot. The big blind was the only caller and we saw the turn. It was no help to me, but I thought the same of my opponent. I didn't think it helped him either. When he checked the turn, I checked behind him. The river card was a spade completeing my nut flush. On the river, the other player made a pot size bet. At this point, I put him on A-K off suit or maybe even two pair. What was even more curious is that he bet out with a flush draw out there. I finally concluded that he must have the King of spades and some other spade as well (maybe K-J of spades). With that read, I went over the top and move all in for the rest of my chips. I had about 15,000 at this point. I knew my hand was the best and maybe I could entice him to call with the overbet. Sure enough he called my raise. He mucked his cards, but I was pretty sure that he had the King high flush. I raked in a pot of over 45,000 chips and that vaulted me to the top of the leader board. I was in 1st place and feeling great about my chances to win this tourney. With this size chip stack, I could cruise right into the final table.
The payout for this tournament was top heavy. First place would get $600 and the rest of the pool was divided among the others. The top 18 would get paid for the efforts, but the big money was in the top 5. I needed to make it there in order to make any kind of profit for my time and effort. After that big hand, I only into one other confrontation before the third break. I made a slight miscue and lost a sizable pot. However, I was still in good shape and in the top 15 on the chip leader board. As we closed in on the third break, we were right at the money bubble with about 21 players remaining. Only the top 18 got paid anything, so the action grinded to a halt.
We had been playing for over 3 hours now. We started the tourney with 139 players and were down to the final 20. I continued to play tight, but aggressive when I was in there. Players were busting, but other players were getting their chips. My position on the leader board sank a little, but I was still in good shape. Shortly after the break, we burst the bubble and got into the money. Once the severe short stacks were gone, it took a awhile to bust someone. We all had a lot of chips and the blinds were still low. They were up there, but they were only at 500-1000 with a 75 ante. I had over 35,000 at this point and could afford to fold a few blinds away. We got down to 17 and it took forever to lose a player. After about 20 minutes, we lost another player and were down to 16. That is when this key hand came up that changed everthing.
I happened to be in the small blind and got dealt pocket jacks. Action went around the table with two limpers and the button as well. When it was my turn, I decided to make a push and raised out of position. I got one limper to fold, but still had two in there including the button. Pocket jacks is the kind of hand you don't want to see a flop. I started to get this funny feeling and sure enough it was right. The flop came out A-10-5 with 2 suited cards. It was the worst kind of flop you could imagine for pocket jacks. I stayed strong and backed my raise with a healthly 2/3 the size of the pot bet. I got one player to fold, but that stubborn button was still in there. It was just hard to put him on an Ace, so when the turn came I pushed all-in. It didn't even matter what it was, I decided to go on my gut and read. I moved all-in and the action was on him. He instantly called and when I say "instantly" the computer didn't even have time to catch up. He flipped over pocket aces and had top set. I was drawing dead for all intense purposes. The only way to win was to catch running jacks and do you know the odds on that. Let's just say...very, very small. He had me cover in chips and I busted out in 16th place extremely upset with myself. I had jacks and made a play, but ran into a big hand. Nothing else I could have done.
What did I receive for 3 and a half hours work? 16th place paid out $20.39. Let me refresh your memory... Remember that I was invested in this tourney for $20 with the rebuy and add-ons. Let's do some math... $20.39 - $20.00 leaves me .39 cents profit. I played poker for three and a half hours and made a whopping .39 cents profit. I found that in my couch later on and doubled my money...