A couple of weeks ago, I made a solo trip to AC for the day, since Wifey Kim certainly had something better to do than hang out with me. I first played 1/2 NLHE at Caesars, mostly because that is where the bus dropped me off. I usually avoid the place because of its inflated minimums at the table games and the general attitude of the place, which to me feels outright snobbish. The poker room is located in the back of the casino on a raised area of the casino floor, but it is open to the rest of the casino. It’s a terrible combination because it is not located in a spot to catch casual players but its still open enough that you can hear all of the noise of the casino floor.
After playing there for a few hours, I found myself down $270. I was utterly card dead, with nothing better than A9 or 22, which had led to my slow bleed. I finally had enough, though, and I decided to rack up and find a tournament. I ended up at Bally’s because, by the time I passed it, there was only 15 mins before a cheapo $80 game. I was planning on walking to the Showboat for its $100 tournament, but I’d have to walk for another 15 minutes or so and then wait around nearly an hour for the game to start.
The tournament went fairly well, such that by the time I got to the final table, I was amongst the top half of the stacks. When we got down to 6, I was probably in 2nd place or so by a narrow margin. Blinds were high and going higher, and the few short stacks seemed to keep doubling up.
Before the shorties doubled up, two gentlemen on my side of the table began discussing a save. They mentioned that if everyone agreed to take $20 out of their pockets, we could make a $120 save for sixth place. Without any deal, the payouts were as follows: Fifth place paid around $150. Fourth paid around $195. Third paid $295 or so. Second paid $450. First paid around $810. The total prize pool was $1907, and I just accounted for $1900, so those numbers are fairly accurate.
I was in good chip position at the time, so when my neighbors idly wondered whether the big stack across the table would agree, I had to interrupt. “Sorry, guys, but I can’t agree to a save.”
I never agree to saves, although if I were the shorty, perhaps I would. Otherwise, why would I? It’s literally just giving away money for what? A bit of certainty? I didn’t need certainty with my stack. It was very unlikely that I would end up 6th, so all I would be doing is literally giving away $20.
I’ll give the guys credit. They were okay with my objection and never discussed it again. However, by the time we hit the next break, I looked down and realized that I was no longer in 2nd. I was probably closer to 4th or 5th, and with blinds reaching an astronomical height, the reality that I might bubble became clear.
During the break, I quickly used the bathroom and then returned with my iPod Touch in hand. I opened the calculator function and started running numbers. I came up with this plan: $200 per person outright, including the 6th place “bubble”. That left approximately $700 in the prize pool, which would go $400 (more) to First, $200 (more) to Second, and $100 (more) to Third. Fourth through Sixth would all get paid $200 flat.
As the break ended, I ran this by the various players and amazingly, everyone agreed. The big stack had gotten bigger, but he was a friendly weight lifter (who beat the NJ record for some sorta shot put thing that morning) and he was also buzzing on beers.
I suppose it wasn’t a shock that everyone agreed. After all, it was a fantastic deal. Everyone was guaranteed a decent $120 profit (150% profit on the $80 investment), and the big stack was still in position to win $600.
Once everyone agreed, play was back under way…and I busted in 6th. It was nothing special. I became short by calling an all-in where I had two overcards to my opponents undercards, but he hit a pair. No big deal. I lost my stack by pushing with 44 on the button, only to discover that my opponent had QQ. Whoops!
My deal required me to stick around, and I watched as the other players eventually busted. I did my best to organize the deal, and when it was all said and done, everyone was happy.
Sometimes I wonder if I should not be making deals, but deal making is as much a part of poker as table selection, for instance. You need to assess your position in the tournament, your opponents’ stacks and mentality, the probability of winning and losing, and the benefit of certainty, and hopefully come to an arrangement that benefits you and gives your opponents enough benefit to reach an agreement.
Sometimes, this cannot happen, because of a holdout or because of chip stacks. In those cases, you just have to play on. Sometimes, you have to be the wrench in the works, because its a bad deal. But sometimes, you can find that sweet spot, where everyone is satisfied and you get your benefit. That was what happened at this Bally’s tournament.
Out of all the plays I made that day, my best one was rejecting the first idea (the save) and pushing for my alternative. In general, my rule of thumb is that I will not give a save, but I will agree to a chop that gives me money. So, if you want a save with me, just offer a chop of some sort. I’m not interested in making a safety net for the bubble, but I am interested in getting paid.
For what its worth, this was hardly my most difficult deal. That must’ve been my 9-way chop with four tiers of payouts I arranged with a final table of a Showboat tournament. But that’s another story.
Until next time, make mine poker!