HIGH-STAKES POKER PRO KAHLE BURNS TRAVELS the WORLD LOOKING for ACTION 31-Year-Old High Roller Nears the Top of Australia’S All-Time Money List

www.CardPlayer.com Vol. 33/No. 23 November 4, 2020

Michael Addamo Wins WPT World Online Championships $100K High Roller

Jonathan Little: Stop Raising With Top Pair

Kevin Haney: Having A Scoop Advantage In Stud Eight-Or-Better HIGH-STAKES POKER PRO KAHLE BURNS TRAVELS THE WORLD LOOKING FOR ACTION 31-Year-Old High Roller Nears The Top Of Australia’s All-Time Money List

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CP_PokerSchool_1_DT.indd 5 10/13/20 9:33 AM Masthead - Card Player Vol. 33/No. 23

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006_MastheadA.indd 6 10/13/20 9:38 AM PLAYER_22_ACR_FP.indd 3 9/29/20 9:49 AM Table of Contents - Card Player Vol. 33/No. 23 22 16

Victor Simionato vs. Damian Salas Blaz Zerjav vs. Victor Simionato Phillip Mighall vs. Damian Salas Blaz Zerjav vs. Victor Simionato 20

Features Strategies, Analysis Also In this Issue 22 & Commentary 6 High-Stakes Poker Pro Kahle Burns 26 About Us Travels The World Looking For Action Why You Need To Stop Raising 36 By Julio Rodriguez With Top Pair Tournament Schedules By Jonathan Little 38 The Inside Straight 27 Poker Leaderboards 10 Re-Entry and Rebuy Tournaments: Poker News Recap Part 3 - Late Registration By Greg Raymer Tournament 14 29 Player Of The Year Update Hand Matchups Seven Card Stud Eight-Or-Better: By Erik Fast 27 Having A Scoop Advantage 16 By Kevin Haney Mikita Badziakouski vs. Aleksei Barkov Final Table Takedown: Eight-Time WSOP 31 29 Circuit Champion Michael Lech Collecting A Debt: Jason Koon vs. Mikita Badziakouski By Steve Schult Phil Ivey Vs. Borgata 31 20 By Scott J. Burnham Mikita Badziakouski vs. Mark Demirjian This Week’s Big Winner: 33 Michael Addamo Wins WPT World Online 34 Championships $100,000 Buy-In Event Gamble 103: Protect Your Ass(ets) Mikita Badziakouski vs. Jason Koon By Erik Fast By Nathan Gamble

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008_TOC.indd 8 10/15/20 10:21 AM PLAYER_23_Coushatta_FP.indd 3 10/13/20 9:32 AM THE INSIDE STRAIGHT

the INSIDE STRAIGHT News, Reviews, and Interviews From Around the Poker World

POKER PROS DANIEL NEGREANU AND DOUG POLK AGREE TO START HEADS-UP GRUDGE MATCH NOV. 1

By Steve Schult

Doug Polk and Daniel Negreanu will start their highly anticipated heads-up grudge match Nov. 1. Polk angrily tweeted at Negreanu in October, goading him into picking a start date for the heads-up no-limit hold’em battle. “Alright, I’m sick of the run around,” tweeted Polk. “Does anyone know how to get in touch with @RealKidPoker so we can actually schedule this match? He tweets at me once in a while and then goes silent. It’s been two months and I’m ready to f***ing battle. Let’s work out a two-hour minimum session length, and al. e site banned the use of heads-up some details.” also agreed to Polk’s “inspection request” displays, but does not have a rule about Negreanu responded, throwing out to ensure that neither player was using whether players can use prefl op charts Nov. 1 as a potential start date, and Polk real-time assistance such as solvers or while they play. quickly agreed. equity calculators. Negreanu also said that he is okay “Well this tweet is awkward. You all As negotiations carried on over the with the match being streamed and com- riled up, eh!” responded Negreanu. “You next few weeks, however, the defi nition mentated by high-stakes pro Kane Kalas, have been talking to [PokerGO’s] Mori of real-time assistance became a point of but that he would not be showing his hole [Eskandari] and Brent [Hanks], no? I contention. Negreanu tweeted that he cards. Polk tried to compromise. have and they said they spoke with you. did not want prefl op charts to be used “How about we make a deal,” asked All that’s left is waiting on a fi nal legal during play, while Polk wouldn’t com- Polk. “1) No charts allowed of any kind. opinion to see what options are available. mit to it. 2) We show all of our holecards to the Nov. 1 could work. Feel better?” “You are a 6:1 favorite in the betting fans for the entire challenge. We both After hammering out the details, the markets, yet you feel the need to use a give a little, the fans win. Retweet if you pair will play two tables of $200-$400 cheat sheet?” said Negreanu. “I won’t be want to see this.” heads-up no-limit hold’em online. ey using a cheat sheet, why should you? You Polk’s only other real point of conten- will start with 100-big blind stacks that challenged ME to a match. I agreed to tion throughout the public negotiations will automatically top up to the max as YOUR game, on YOUR platform, and was that he wants to play more than soon as a player falls below the threshold. YOUR format.” two hours per day, citing concerns that it e two will play a 25,000-hand Negreanu agreed to play the match would drag out the match for 100 days. match with an option for the losing player on WSOP.com and during the initial Negreanu said he was hoping to play 4-5 to quit after 12,500. At the same halfway response to these requests, Polk said that days per week, totaling about 20 hours. If mark, if both players agree, they can also he would “agree to follow the rules” set the two can hammer out the last-minute raise the stakes. forth by the platform. Whatever WSOP details, the duo may be able to settle their Negreanu said that he would agree to allows, Polk wanted to have at his dispos- longstanding feud before the new year. m

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010_News.indd 10 10/15/20 10:27 AM THE INSIDE STRAIGHT POKER PRO SHAUN DEEB PLAYS ONLINE FROM MEXICO HOSPITAL BED AFTER CATCHING CORONAVIRUS By Steve Schult

Being hospitalized with COVID- get hospitalized in Mexico.” 19 didn’t stop Shaun Deeb from In a subsequent post, he said that playing online poker. playing tournaments while infected e four-time World Series of with the virus was extremely diﬃ- Poker bracelet winner and high-stakes cult. He was having trouble breathing, tournament regular left his Albany- and was falling asleep during every area home at the end of August and ﬁve-minute break. Eventually, he was traveled to Mexico so that he could admitted into a hospital in Playa del battle against online poker’s best in Carmen and hooked up to an IV. the PokerStars World Championship Time to rest and recover, right? of Online Poker. It’s a trek that many Wrong. also mentioned that he had some side tournament professionals decide to “You’re not really a WCOOP grind- bets that were motivating him to keep make so that they can play against the er if you’re not one-handed, 10-tabling playing. rest of the world on the international- on touch pad in Mexican hospital with ere are few things that will cause facing poker site. COVID,” tweeted Deeb a day later. Deeb to miss a WCOOP series. He Unfortunately for Deeb, he caught As luck may have it, the trip to the infamously missed the birth of one of coronavirus while he was south of the hospital may have ended up doing won- his children in 2016 to stay in Canada border and the symptoms hit him hard. ders for Deeb’s results. In a response to and play the series. On the day his He tweeted that he had been keeping Brian Horton, who implored him to son was born, Deeb won one of his quiet about his positive diagnosis for stop playing and get some rest, Deeb eight WCOOP titles. about a week and a half, but that he said that he actually felt “better today He has since returned home to might “need your guys help making a than any other session in two weeks” New York and reported that he has tweet or two go viral so I don’t have to with “the meds and IV helping.” He recovered. m

Caesars Entertainment Acquires William Hill Sportsbooks For $3.7 Billion

By Steve Schult

Caesars Entertainment complet- “ e opportunity to combine our ed a massive $17.3 billion merg- land based-casinos, sports betting, er with Eldorado Resorts over the and online gaming in the U.S. is a summer, and is now acquiring one truly exciting prospect,” said Caesars of the largest sports betting opera- Entertainment CEO Tom Reeg in tors in the world. e gaming giant a statement. “William Hill’s sports announced that the company has betting expertise will complement agreed to purchase London-based Caesars’ current offering, enabling the bookmaker William Hill for the equivalent of $3.7 billion. combined group to serve our customers in the fast-growing e two companies were already involved in a joint U.S. sports betting and online market. We look forward venture where Caesars would use William Hill to run most to working with William Hill to support future growth in of Caesars’ U.S. online and retail sportsbooks. But after the U.S. by providing our customers with a superior and William Hill disclosed that it received an offer to be pur- comprehensive experience across all areas of gaming, sports chased by private equity firm Apollo Global Management, betting and entertainment.” Caesars opted to make a proposal of their own. e move comes as Caesars is trying to position itself to e New York Post reported that Caesars “attached be a force in the blossoming online gambling sector, which strings” to the current agreement in place with William executives believe will reach a market cap between $30-$35 Hill, stating it would cease some elements of the current billion. arrangement if Apollo acquired the sportsbook. A couple Caesars’ main U.S. competition, MGM Resorts, also days later, the operations were officially a part of Caesars. believes that online gambling is the future as it received a $1 e acquisition is still pending approval from regulatory billion investment from InterActive Corp based primarily bodies and is expected to be finalized in the second half of on how the company is positioned to enter the online 2021, according to a press release. gambling market. m

010_News.indd 11 10/15/20 10:27 AM THE INSIDE STRAIGHT - News, reviews, and interviews from around the poker world

NEW DOWNTOWN LAS VEGAS CASINO TO OPEN IN LATE OCTOBER By Steve Schult

Las Vegas’ newest casino will open a few months ahead of schedule and allow patrons to gamble on its gaming floor just before Halloween. Circa Las Vegas was originally scheduled to open this December, but after the Nevada Gaming Commission granted a gaming license to the Downtown-area casino at the end of September, the property will instead open Oct. 28. e Stevens brothers-owned property will be the first extend the 21+ age restriction to the entire resort, not just Fremont Street casino to be built from the ground up the gaming floor. since 1980. e brothers also own e D and Golden Gate According to a report from the Las Vegas Sun, Circa will Casino, both of which are also located downtown. add 1,500 jobs to the struggling Las Vegas economy. When plans for the casino were first announced in “We’ve seen that more and more people are coming to January of 2019, highlights included “the world’s biggest Las Vegas,” co-owner Derek Stevens told the outlet. “e sportsbook” and a 44-story hotel tower. Last June, own- fact that we can bring some good news and some excite- ership said that it would be an adult-only property and ment, that has me the most excited right now. m Michigan Online Poker Likely To Be Live In November By Steve Schult

State regulators are anticipating the Pennsylvania, New Jersey, and Gov. Gretchen launch of online poker in Michigan Indiana. Most of these operators are Whitmer along the same time frame as sports licensed there and operate there now. betting. If everything runs smoothly, So, there wasn’t a big learning curve.” Michiganders will be able to grind at set of rules will be passed online tournaments as early as this along to the Michigan Office of November. Administrative Hearings and Rules. Gov. Gretchen Whitmer signed Once approved, it will head to the an online gambling bill into law last state legislature’s Joint Committee on December, which legalized all forms of Administrative Rules where it will be online gambling and retail sports bet- finalized and put into place. ting. As of January, regulators were tar- In the current U.S. regulated online geting early 2021 to roll out its market, poker market, Nevada, Delaware, and but the COVID-19 pandemic sparked New Jersey can share a player pool an urgency by state officials to make with sites that are licensed in all three up for lost revenue stemming from the states, while Pennsylvania only allows brick-and-mortar casino shutdown. its players to gamble with others with- At the end of the summer, in its borders. Based on actions within Michigan online poker to form a com- Michigan Gaming Control Board the Michigan Senate, it seems like the pact with other states to share liquid- Executive Director Richard Kalm said state will likely join a shared player ity. that he hoped for a November launch. pool with other states, though nothing e bill was up for discussion as e rules are already in place and with is finalized. part of the Senate’s Regulatory Reform several other states experiencing a ton In June, Sen. Curtis Hertl, a Committee, and Hertl told another of success with its online marketplace, Democrat that was instrumen- gambling outlet that he thought it regulators were able to mimic existing tal in bridging the gap between the would move to the House before the frameworks. Republican-sponsored gaming bill end of October. ere were no ques- “We didn’t reinvent the wheel,” and the Democrat Governor, intro- tions about or objections to Hertl’s said Kalm. “We found rules from duced SB991, a bill that would allow bill, which bodes well for its passage. m

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010_News.indd 12 10/15/20 10:27 AM THE INSIDE STRAIGHT ALLEGED POKER CHEATER MIKE POSTLE SUES POKER COMMUNITY FOR LIBEL AND DEFAMATION By Steve Schult

e case against alleged poker cheat Mike Postle was seemingly near-perfect play. dismissed in early June with the majority of plaintiffs agree- When the allegations were initially made public by ing to a settlement with the Stones Gambling Hall and its Brill, several names listed in the lawsuit spent countless tournament director Justin Kuraitis, who was in charge of hours breaking down video footage of Postle’s play. ey the livestream. illustrated why they believed, based on what they saw from Now, Postle is starting a legal battle of his own, suing Postle’s unorthodox playing style, that he was cheating. many prominent names in poker. e complaint states that eories on how it could have happened range from Postle is seeking damages and injunctive relief for defama- bone-conducting headphones in his hat, to hole card infor- tion and slander, trade libel, false light, intentional interfer- mation sent to his phone, but so far, no one has been able to ence with prospective economic advantage, and intentional definitively prove Postle cheated outside of his statistically infliction of emotional distress. improbable winnings. e list of defendants includes former Stones employee In the wake of the lawsuit’s dismissal, Kuraitis became Veronica Brill, who brought the allegations to light a year outspoken on social media and reasserted his belief that ago, six-time WSOP bracelet winner Daniel Negreanu, Postle played it straight. One of his main talking points high-stakes gambler Haralabos Voulgaris, poker personality was that the amount of money Postle was reported to have Joey Ingram, Poker Fraud Alert’s Todd Witteles, as well as won in the games was inflated, leading him to question the ESPN and Poker News media. He’s also included Upswing validity of the other statements made. Poker, Run It Once, Crush Live Poker, Solve For Why, and Kuraitis’ Twitter outburst caused Galfond to crowd- Poker Coaching, which are run by poker pros Doug Polk, source an effort to catalog every hand Postle played on cam- Phil Galfond, Bart Hanson, Matt Berkey, and Jonathan era. With a complete database of Postle’s play, Galfond can Little, respectively. take a fine-toothed comb to his actual win-rate and playing Despite his initial victory in court, Postle has been seen statistics, which should give a better indicator of whether as guilty in the eyes of the majority of the poker public, or not Postle had access to the hole cards of his opponents. many of whom have been outspoken in their belief that he e filing also lists John Does 1-1,000, which allows cheated, most likely with the help of an accomplice. Postle Postle’s legal team to add defendants as they move forward was alleged to have won between $200,000 and $300,000 in the legal process. Essentially, anyone that made public in mostly $1-$3 and $2-$5 no-limit hold’em cash games, statements affirming that Postle was cheating is listed as a which prompted others around the game to look into his defendant. m

010_News.indd 13 10/15/20 10:27 AM THE INSIDE STRAIGHT - Player of the year As of 10-7-2020

Place Players Points Final Tables Winnings 1 Vincent Wan 2,280 1 $909,420 2 Farid Jattin 2,177 6 $1,205,493 3 Anton Suarez 2,100 1 $1,000,000 4 Cary Katz 2,095 8 $2,420,543 5 Kahle Burns 1,956 6 $2,923,988 6 Ngoc Hoang 1,900 1 $909,420 7 Aaron Van Blarcum 1,896 8 $1,854,522 8 Sam Greenwood 1,881 6 $1,357,807 9 Tim Adams 1,857 6 $5,904,777 10 Brian Altman 1,848 3 $542,866 11 Michael Addamo 1,806 5 $2,143,310 12 Pablo Silva 1,800 1 $1,000,000 13 Christian Rudolph 1,750 1 $620,000 14 James Romero 1,736 2 $745,000 15 Erik Seidel 1,686 5 $669,649 16 Eric Afriat 1,680 1 $394,120 17 Alex Foxen 1,597 6 $1,603,559 18 Nino Ullmann 1,540 2 $370,609 19 Stephen Chidwick 1,537 6 $1,043,973 20 Gareth Pepper 1,520 1 $690,000

CALEB HERSHEY WINS VENETIAN DEEPSTACK SHOWDOWN POKER SERIES $100,000 GUARANTEED EVENT By Erik Fast

e Venetian® Resort Las Vegas hosted Sin City’s first major live poker tournament series during the month of September. e marquee event of the festival was a $400 buy-in no-limit hold’em ‘Monster Stack’ event that featured a $100,000 guaranteed prize pool. e tournament ran from Sept. 23- 27, with four starting flights to choose from. A total of 1,538 entries were made in the event, blowing away the guarantee to create a prize pool of $512,154. In the end, Caleb Hershey of Rugby, North Dakota emerged victorious with the title and a top payout of $74,123 after striking a deal during three-handed play. is was the third career live tournament title on Hershey’s résumé and by far his largest score. As the champion, he was also awarded 432 Card Player Player of the Year points. Hershey was not the only player to make moves in the POY rankings during this series. Robert Whalen finished fourth in a $400 buy-in event for $18,454 and 168 points, for his third POY-qualified score of the year, and now sits in 28th place. WSOP bracelet winner Will Givens finished fifth in a separate $400 buy-in to add $8,822 and 140 points to his totals. With four final-table finishes so far this year, Givens now occupies the 36th-place spot on the leaderboard.

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014_POY.indd 14 10/14/20 9:00 PM THE INSIDE STRAIGHT

ANDRE MARQUES WINS WORLD CHAMPIONSHIP OF ONLINE POKER MAIN EVENT FOR $1.1 MILLION

By Erik Fast

e 2020 World Championship of Online Poker (WCOOP) series on PokerStars attracted 1,119,186 entries throughout the 225-event schedule. A total of $99,780,230 in prize money was paid out during the series, with $10 million being awarded in the marquee event of the whole affair, which was the $5,200 buy-in WCOOP no-limit hold’em main event. e tournament drew a field of 1,977 entries. When the dust cleared it was Portuguese player Andre ‘PTFisherman23’ Marques that emerged victorious with the title and the top payout of $1,147,271. Marques overcame a tough final table on the road to victory, outlast- ing American poker pro Michael ‘munchenHB’ Telker (7th - $196,792), EPT London main event winner Robin ‘robinho’ Ylitalo (4th - $543,301), and Teun ‘tinnoemulder’ Mulder (3rd - $1,101,528), who recently finished as the runner up in the World Poker Tour Online Championship main event for just shy of $1.4 million. e final table began with Mulder holding the chip lead, with Marques and Ylitalo not far behind. Marques overtook the lead early on by knocking out Cecilia ‘princes chu’ Cafaro in ninth place. He remained near the top of the leaderboard throughout the rest of the day, surviving to the final three alongside Mulder and Tonio ‘prrrak4783’ Roder. e three struck a deal at the start of three-handed play that ensured they would all be earning seven-figure pay- days, leaving the title and an additional $100,000 from the prize pool to play for. Marques knocked out Mulder to take the lead into heads-up play, and finished Roder off to secure the title and the additional prize money.

MIKITA BADZIAKOUSKI WINS 2020 WPT WORLD ONLINE CHAMPIONSHIPS $25,000 HIGH ROLLER

By Erik Fast

Mikita Badziakouski dominated the final table of the 2020 WPT World Online Championships $25,000 buy-in no-limit hold’em high roller event, beating out several of his fellow top tournament players in the world down the stretch to capture the title and the top prize of $1,062,730. is was the 28-year-old Belarusian poker pro’s eighth recorded score of a million dollars or more. e victory brought his career earnings to $30,098,691, which meant that he surpassed Phil Ivey to climb into 11th place on poker’s all-time money list. Badziakouski had been extending his lead early at the final table despite not earning any of the final blows that eliminated the first three players. He finally scored his first knockout, taking out Mark Demirjian in fourth place. ree-handed action began with Badziakouski sitting on 172 big blinds, while 2019 WSOP Europe main event winner Alexandros Kolonias had 81 big blinds, and American high roller Jason Koon had 31 big blinds. Badziakouski wielded his chip advantage ruthlessly, continually putting maximum pressure on the two shorter stacks as they tried to outmaneuver each other in order to ladder up. e three battled it out for more than two and a half hours before the decisive hand was dealt. Badziakouski picked up pocket aces on the button and min-raised to 240,000. Kolonias looked down at pocket threes in the big blind and three-bet all-in for 1.8 million. Badziakouski snap called and the board ran out clean to send Kolonias home in third place, earning $549,794 for his strong showing. With that, Badziakouski entered heads-up play with 18.3 million of the roughly 20 million chips in play. e final two players quickly agreed to a deal which saw Koon awarded $810,869 as the runner-up, while Badziakouski locked up $1,062,730. e cash saw Koon’s career tournament earnings surpass the $32 million mark. He remains in ninth place on the all-time money list.

014_POY.indd 15 10/14/20 9:00 PM THE INSIDE STRAIGHT - Final Table Takedown FINAL TABLE TAKEDOWN With Michael Lech Recent WSOP Bracelet Winner And Eight-Time WSOP Circuit Champ Breaks Down Hands From Circuit Win

By Steve Schult

Over the last few years, Michael Lech has amassed one of the most impressive résumés at the mid-major level. The traveling tournament pro from Arkansas has earned nearly $1.5 million in tournament earnings and has won eight World Series of Poker Circuit rings in five different countries. This summer, Lech earned his first major title with a WSOP bracelet win in the $1,500 no-limit hold’em high roller freezeout during the American-facing WSOP Online. He best- ed a field of 649 entries to earn $164,249, along with the gold. Lech had a monster series throughout July as he cashed 12 times for a total $193,101. He followed the American-facing series up with a trip down to Mexico to play the international-facing WSOP on GGPoker. He made a deep run in the $5,000 no-limit hold’em main event, finishing 31st for an additional $55,880. The online bracelet came four years after Lech’s biggest score, a runner-up finish in the $888 no-limit hold’em crazy eights event at the 2016 WSOP, worth $401,888. Less than a year later, Lech went down to New Orleans and earned the second of his Circuit titles in the $2,200 no-limit hold’em high roller. Lech sat down with Card Player to reevaluate a few hands he played at the final table in New Orleans.

WSOP Circuit Harrah’s New Orleans High Roller Buy-In: $2,200 • No. of Entries: 197 • Prize Pool: $394,000 Places Paid: 20 • First Place: $106,377

I had 17 big blinds and he But as far as shoving K J 8 6 was raising and opened up versus calling, I think if it his game, I remember. He was a more passive player,

was kind of just trying to I would be more apt to call

K J 6 8 run over the table after he because it’s a nice hand to picked up a couple chips. play in position. Michael Lech Ray Qartomy I decided to just rip it in SS: What about 400,000 1,600,000 because I thought he might Qartomy’s open. Is it too

A 7 5 7 J be able to outplay me if wide or is it standard for I miss any ﬂ op, suddenly someone with a bigger

dwindling down to an even stack?

A 5 7 J

7 shorter stack. It turned out ML: I think it’s a fi ne to be a pivotal hand to just open. Any sort of suited get a double up there get- one-gapper four-handed is Blinds – 12,000-24,000 with a 4,000 ante ting called down by eight- a pretty standard open. I high. would do it all the way I don’t remember exactly down to like 20 big blinds. Players Remaining: 4 standard shove at this stack how many chips he had, but If I had his stack, I would Concepts: Finding the depth against an under-the- I don’t think it was a sig- probably be opening 8-6 correct push-fold spots late gun range or was this a play- nifi cant portion of his stack suited because it’s a fun in fi nal tables. er-dependent shove? to call off . I guess he just hand to play. The Action: Ray Qartomy Michael Lech: I would likes to play with live cards. I fi nd myself on the raised to 60,000 from under say that at this point in the I’ve played with plenty of looser side. at was still at the gun and Michael Lech tournament, I was feeling players who when they get the beginning of one of my moved all in on the button for a little uncomfortable with shoved on and they have more successful runs I’ve 400,000. Qartomy called. just calling, even in position, plenty of chips, they just say had over the past couple Steve Schult: Is this a with a good hand like K-J. “run the board.” years. I was defi nitely a little

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016_FTT_MichaelLech.indd 16 10/14/20 9:01 PM THE INSIDE STRAIGHT

nervous playing that fi nal sure. I think more math- ing? Are you just peeling SS: If the turn paired the table. I don’t think there based players, who are trying with your multiple backdoor board and he bet, would you was any point, up until I to play more GTO, would be draws, or do you think you still have called? got four-handed or three- diff erent. have the best hand? ML: I probably would’ve handed, that I thought I had SS: Do you consider ML: I thought his sizing folded at that point, but a shot to win. yourself a feel player then? is pretty standard for a small I thought the ace was too I was in last place all the How would you describe c-bet (continuation bet) with good of a card for him to way up until four-handed yourself? any two. With the Kn in my [resist] bluffi ng. and then that K-J hand [gave ML: I’m a results-ori- hand, I have both backdoors SS: On the river, you me more play]. en I dou- ented player and proud of with the straight and hearts. check and he bets for a third bled through Marshall and I it (laughs). If it works, it I thought it was best just to time. I don’t really know was second in chips. en I works. If somehow, I fi nd play further into the hand how else to ask this. How busted Ray, and all of a sud- a way to win the pot, then and reevaluate. I still didn’t did you decide to call? den, I was chip leader. that’s the way to play it. I’ve want to build the pot at all. ML: He sized up a little SS: When talking about been living with a bunch of Obviously, check-raising bit, so it seemed like value. Ray’s call, you mentioned diff erent players who have a is an idea that I might enter- But when he bet this size, I how much the shove was bunch of diff erent theories. tain today, but there I was put him specifi cally on two in relation to the rest of For example, I’ve been fortu- just ready to see more cards pair, an ace, or air. When his remaining stack. Is that nate to spend a lot of the past and keep the pot small. you think about it like that, something you think about summers living with a big SS: On the turn, you air is just about 50 percent of much when you’re debating group of Lithuanian players check-call 130,000. Walk it or more maybe. a call or is it simply the that are online solver guys me through your thought I thought about it for a equity of your hand versus that work really hard. ey process. little while, but I just decid- the equity of your oppo- defi nitely have a diff erent ML: All of his ace-x hands ed that I wanted to see what nent’s range? approach to the game than I are going to be c-betting he had. And it turns out I ML: I think it’s more do, but you can learn a little again, but I thought there had the best hand. It wasn’t a player-dependent, which bit from everybody along the would be a greater percent- super genius hand. I was just changes the ranges up for way. age of airball hands that being a little sticky. would be willing to throw SS: I assume you would’ve K 9 Q 4 in a second barrel there. I folded to a bigger sizing then fi gured he might not put in if you were just being sticky?

the third barrel and I had ML: e sizing through-

K 9 4 Q king-high. out the entire hand really At this point, I was also played into my call. It just Michael Lech Marshall White just being a little stubborn. seemed like there could be 2,350,000 2,300,000 I can’t say I was looking some random airballs. I towards blockers of any sort think if he sizes up, I ﬁ nd a J 5 2 A 10 or was really thinking about fold. I think he was think-

what he was doing. I just ing that I was a competent

A J 2 10

5 thought that I had king-high player and that it would look and it could easily be the best like he was making a value hand and he might just stop bet. He just didn’t realize I Blinds – 30,000-60,000 with a 10,000 ante betting if he doesn’t hit a pair. wasn’t in a folding mood.

Players Remaining: 2 ML: I think I would, but J 6 Concepts: Making hero that was pretty early in the calls when being laid a good heads-up match. I don’t

price by your opponent. really like to start the match

6 The Action: Marshall White by going crazy with three- J raised to 130,000 on the but- betting, especially against a Michael Lech Marshall White ton and Michael Lech called pretty good opponent. I had 2,640,000) 2,160,000 from the big blind. On the respect for him already and ﬂ op, Lech checked and White knew he was competent, so A 10 6 J 7

bet 80,000. Lech called. I deﬁ nitely didn’t want to

A 6 J 7 On the turn, Lech checked be building a pot out of 10 and White bet 130,000. position with K-9 off against Lech called. On the river, him. I think maybe just call- Lech checked and White bet ing is underrepresenting it, 215,000. Lech called. but it’s the bottom of the Blinds – 40,000-80,000 with a 10,000 ante SS: Clearly your hand is under-repping range. too good to fold prefl op, but SS: On the fl op, what Players Remaining: 2 bet sizes. do you ever three-bet this are your thoughts when you Concepts: Finding good The Action: Michael Lech against certain player types? check-call? Are you fl oat- spots to use unconventional raised to 175,000 on the but-

016_FTT_MichaelLech.indd 17 10/14/20 9:01 PM THE INSIDE STRAIGHT - Final Table Takedown

ton and Marshall White called. or does anything besides river brings in a fl ush draw. match? On the fl op, White checked fold, so I’m not a huge fan of You decide to bet the river ML: I believe a few hands and Lech bet 270,000. White my bet there. But that’s what very big. Were you com- prior, I had also bombed the called. White checked the turn I did at the time. (laughs) pletely discounting fl ushes river. at was a bluff , but I and Lech bet 150,000. White I sized up because I from his range? did not show it. ere was called. On the river, White didn’t want to make it where ML: When he didn’t also one time where he had checked and Lech bet 865,000. he could check-raise light. check-raise the fl op, I don’t rivered trips, bombed, and I White called. It would end up being too think he would have dia- overbet shoved on him. He SS: If you’re raising J-6, much of his stack for him to monds very often. is goes showed me trips, but I had are you raising all of your do that. at’s why I made back to my big sizing on the rivered a fl ush. buttons in the heads-up it as big as I did. I was fl op. I thought he would It seemed like I had match? just taking away that option check-raise a strong draw on been getting the best of ML: Once I picked up from him without playing the fl op to try and pick up him in certain spots and a little steam, I decided to for stacks. a pretty big pot already. He that defi nitely wears men- raise about 100 percent of SS: You decide to size could just go for it. tally on you in a heads-up them. I had done a limp down on the turn. It’s not a And with the fl ush get- match. It happens and it before and I just thought it play I see very often. Why did ting there, it kind of makes really sucks. When I lost was the right time to apply you choose such a small size? my hand look super bluff y. that $888 heads-up match a some pressure. ML: I think that size It’s a card that makes me couple summers ago, I think SS: You fl op bottom pair attracts some of his weaker maybe slightly more likely I played like 50 hands and and bet three-fourths of the draws to hang around. And to barrel away and I could lost 38 of them. pot when checked to. Can if he decides to raise me then get all the light calls with ere’s not much you you explain why you decided I can peel. I don’t necessarily a pretty good two pair. I can do in those situations. to bet and how you chose have to get it in with this had already done some weird Downsizing the turn and the sizing? hand at this point. I don’t stuff against him. is was then betting big on the river ML: I’m defi nitely lean- want to give a free card to within about ten hands of just makes it a funky hand, ing towards denying equity something like a gutshot. that king-high call, so I was and there’s just not a ton he because with bottom pair, And when he does call, I clearly capable of messing can really put me on. He there aren’t too many good get to build the pot with a around with him. [didn’t show], but he said he turn cards. Obviously, it strong hand. SS: Did you show him called me down with a pair kind of sucks when he calls SS: He does call. And the any bluff s earlier in the of tens. m

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016_FTT_MichaelLech.indd 18 10/14/20 9:01 PM PLAYER_23_bestbet_FP.indd 3 10/13/20 9:31 AM THE INSIDE STRAIGHT - This Week's Big Winner THIS WEEK’S BIG WINNER Michael Addamo Wins WPT World Online Championships $100,000 Buy-In Event By Erik Fast

Australian poker pro Michael Addamo has won the latest six-figure buy-in super high roller tournament, defeating a field of 40 entries to take down the 2020 World Poker Tour World Online Championships $100,000 buy-in no-limit hold’em event. The two-time World Series of Poker bracelet winner was awarded $1,284,113 for the win, the largest score of his young career. Addamo is just 26 years old, but he has already accumulated more than $11.1 million in recorded tournament scores. This victory was Addamo’s third title of 2020, having won a pair of high-stakes events in his native Australia at the start of the year. He started things off by winning a $50,000 AUD buy-in high roller at the Aussie Millions for $740,915 USD, and just two weeks later took down the $100,000 AUD buy-in event at the Australian Poker Open for another $888,720 USD. This tournament featured a $3 million guarantee, which was easily surpassed when the final turnout created a $4 million prize pool to be paid out among the top six finishers. Addamo came into the final table as the chip leader with seven players remaining, including several of the top no-limit hold’em tournament players in the world. Here are five key hands from the final table.

Tournament: 2020 WPT World Online Championships Super High Roller Buy-In: $100,000 • No. of Entries: 40 • Prize Pool: $4,000,000 First Place Prize: $1,284,113

Daniel Dvoress’ Blu Catch Goes ﬂ opped trip tens, however, and got three streets of value to Wrong climb into the lead. Dvoress fell to the second-shortest stack after the hand, and was ultimately knocked out in seventh place as the last player outside of the money. A K A 10 Vogelsang Coolered By Haxton,

Eliminated In Sixth Place A K A 10 Q Q K K Daniel Dvoress Christoph Vogelsang 589,000 777,000

10 10 5 8 2 Q Q K K

2 10 5 8 10 Christoph Vogelsang Isaac Haxton 279,000 400,000

6 6 2 2 7

Blinds – 5,000-10,000 with an ante of 1,250

2 6 6 2 7

The Action Daniel Dvoress started the fi nal table in the middle of Blinds – 8,000-16,000 with an ante of 2,000 the pack on the money bubble. In this hand, he opted to limp in from the small blind with A-K off suit and then just call a raise from Christoph Vogelsang in the big blind, who The Action held A-10. Dvoress proceeded to check-call every street 2017 Super High Roller Bowl champion Vogelsang came with A-K high, looking to bluff catch against Vogelsang into the fi nal table in third chip position, and briefl y took after the fl op brought a paired board. Vogelsang had the lead early on, but had lost several all-ins to fall to the

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020_TWBW_MichaelAddamo.indd 20 10/14/20 9:02 PM THE INSIDE STRAIGHT

bottom of the leaderboard during six-handed action. He fi gure buy-in tournament via a $109 initial investment in a picked up pocket queens in the cutoff and raised to 34,000. satellite. She managed to make her way through multiple 2018 SHRB champion Isaac Haxton three-bet to 75,000 successive qualifi ers to earn a seat in this event, and then from the button with pocket kings, and Vogelsang shoved battled it out against the best tournament players in the for 279,000. Haxton made the call and the superior pair world to make the money and lock up a six-fi gure payday. held up to see him climb into third place in the chip counts. She had around $90,000 in live tournament cashes to her Vogelsang earned $229,600 as the sixth-place fi nisher. name before making this fi nal table. In the end, she shoved all-in with A-2 from the button and received a call from Michael Addamo’s A-6 out of the big blind. Both play- Sergi Reixach’s Four-Bet Blu ers made a pair of aces on the river, but Addamo’s kicker Sends Him Home In Fourth Place played to send Godwin to the rail in third place. She earned $620,000 for her deep run, giving her an incredible return A 4 A K on investment (ROI) of 568,807 percent in this event.

Addamo Retakes The Lead On His A 4 K

A Way To Victory Sergi Reixach Isaac Haxton 828,000 854,000 A 2 10 8

8 7 2 7 9

A 2 10 8

2 8 7 7 9

Isaac Haxton Michael Addamo 2,400,000 1,600,000 Blinds – 8,000-16,000 with an ante of 2,000 J 9 7 A 6

The Action

J 7 A 6

Haxton continued his rise up the chip counts by win- 9 ning a massive pot against Spanish high-stakes regular Sergi Reixach, who opted to turn his A-4 suited into a bluff prefl op only to run into Haxton’s A-K. Reixach started the hand by Blinds – 12,500-25,000 with an ante of 3,150 min-raising from under the gun. It folded back around to Haxton in the big blind, who three-bet to 131,000. Reixach The Action shoved for 828,000 and Haxton made the quick call, having Addamo and Haxton struck a deal heads-up that dis- Rexach just covered. Haxton’s A-K high played by the river tributed the remaining money based on ICM (Independent to take down the pot of over 100 big blinds, moving him Chip Model), leaving an additional $30,000 and the title within striking distance of Addamo’s lead. to play for. Haxton jumped out to an early lead, which he stretched to more than 4:1 at one point, but Addamo battled his way back into the match before winning this key hand Satellite Qualifi er Charlo e to retake the lead. Haxton limped in from the button with Godwin Finishes Third A-2 suited and Addamo checked with 10-8. He fl opped the jack-high straight and checked to Haxton, who checked A 2 A 6 behind. Addamo bet 70,000 on the turn and Haxton called with his turned top pair. Addamo fi red a massive overbet of 450,000 into the pot of 197,000 on the river and Haxton

called with his aces. Addamo’s straight earned him the pot

A 2 6 A and the lead, which he went on to convert into the title. Charlotte Godwin Michael Addamo Haxton earned $1,216,286 as the runner up. 229,000 2,000,000 Final Table Results Q 10 4 5 A

Place Name Earnings

A Q 4 5 10 1 Michael Addamo $1,284,113

2 Isaac Haxton $1,216,286

Blinds – 8,000-16,000 with an ante of 2,000 3 Charlotte Godwin $620,000

4 Sergi Reixach $374,000

The Action 5 Linus Loeliger $276,000 Charlotte Godwin came into the day as the shortest stack. e UK player reportedly won her way into this six- 6 Christoph Vogelsang $229,600

020_TWBW_MichaelAddamo.indd 21 10/14/20 9:02 PM HIGH-STAKES POKER PRO KAHLE BURNS TRAVELS THE WORLD LOOKING FOR ACTION 31-Year-Old High Roller Nears The Top Of Australia’s All-Time Money List

By Julio Rodriguez

Kahle Burns just wants to play some cards. more variance, and stacks are shorter to push smaller edges. But e Australian poker pro exploded onto the live high roller what I like about tournaments the most is that you just get your scene in 2016, and has since recorded nearly $11 million in tournament ticket printed, there’s a random table assigned, and earnings, becoming one of the more dominant players on the you just [sit down]. Anyone can play,” he explained. tournament circuit. While it makes a more dramatic story to leap from play e Geelong native started his run with a win at the nearby money games to high roller events, in reality, Burns had Sydney Championships for $226,295, and has gone on to rack up already spent many years prior working his way up the cash an additional 26 scores of six-fi gures or more since. His largest game ranks, playing the biggest games he could fi nd. In fact, cash came in October of 2017 in the Triton Super High Roller Burns would travel to Las Vegas during the WSOP and only in Macau where his third-place fi nish was worth $1,319,630. play in the main event, choosing to spend most of his trip play- He pocketed another seven-fi gure score in January of this year ing nosebleed cash games at Bellagio. when he took down the Aussie Millions AUD $100,000 high However, the games started to dry up. He was simply too roller for $1,204,988, and followed that up with a runner-up good to fi nd consistent action. fi nish at the AUD $250,000 Super High Roller Bowl Australia “I’ve defi nitely played a lot more cash games than tourna- for another $828,000. ments in my lifetime, and I think I probably prefer playing a In addition to making his mark in the high rollers, Burns big live cash game over anything else, to be honest,” Burns has also earned two World Series of Poker bracelets. In October admitted. “But it just started becoming too hard to fi nd games of 2019 at the WSOP Europe festival, Burns won the €25,000 to play.” buy-in high roller event for his fi rst bracelet and the $662,540 To keep going, Burns started making trips to Macau, forc- fi rst-place prize. Just days later, he picked up his second bracelet ing himself to play long sessions and even living in the world’s and another $113,036 in the €2,500 short deck event. largest gambling market for months at a time to fi nd a good But although it may appear that Burns came out of game. nowhere to join the elite high roller players, the truth is that he “ ere’s not much else to do, and you have to play really opted in more out of necessity than by an ego-driven need to long, sometimes 40- or 50-hour sessions,” Burns recalled. “I see himself holding trophies in the winner’s circle. defi nitely used to do that for a period of time, but I don’t think More than anything, Burns just needed a game. it’s a super healthy lifestyle. I don’t recommend it. If I could “Live tournaments are always going to be good, just because play good, big cash games in Melbourne, Australia, I’d prob- you can’t bum hunt people, and [they draw amateurs] because ably stay there most of the year, but that’s just not the case. people enjoy the thrill of going deep. In cash games, everyone Even if you can fi nd one, you have to travel, and there’s politics has 100-big blind stacks and the variance is so much less, that to get in and all this other stuff to deal with.” amateurs just get fl eeced so fast. In tournaments, there’s a lot It’s a far cry from how the games used to be. On Card

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022_CoverStory.indd 22 10/14/20 9:03 PM Player’s Poker Stories podcast, Burns told the story of the AUD Burns made the call, and hoped for the best. e dealer $1.6 million pot he played with a wealthy businessman. put out an ace on the turn, which wasn’t the most ideal card “I was in Melbourne, and I had heard that there was a in the deck to see, especially when his opponent perked up $200-$400 game playing four-handed in Sydney,” Burns and squeezed out his hole cards. He got some immediate relief recalled. “It was just a one-hour flight, but when I got there, from his buddy on the rail, however. the game wasn’t running. But there was this guy who was “My friend, who was watching and saw the cards, just said, supposed to play another guy heads-up for a lot of money, ‘He’s got J-10, he’s dead.’ So, we held, and this guy didn’t give something like $500,000 or even a million. I was getting a f**k. He just rebought straight away.” some mixed information from some people, [who didn’t want e games were this juicy for a while, but then they became me in the game]. I told them I was going to ask the guy if I less consistent, and the whales started to improve. could play, and if he said no, I was going to leave. Instead, they “ere was this guy in Macau who was the most fun offered to sell me a bit of action, but I refused. I didn’t want to opponent,” Burns said. “When he first started playing, he was buy any action, I wanted to play.” playing $1,000-$2,000, $5,000-$10,000 HKD. He didn’t Once again, Burns just wanted to play some cards. He know how to play at all. He was basically learning as he went. eventually got his way and was able to sit down heads-up. Even He would look at you, stare you down trying to get a read, better, the other players decided to invest in him! and even go so far as to come across the table to feel your pulse “We started out playing $200-$400, simply because they on your wrist [before making a decision]. Or you’d be in the didn’t have a bigger [placard] where we were playing. But this tank against him, and he’d just look at you and hold out his guy just kept wanting to jack up the stakes. We thought we own wrist so you could feel his pulse. But I remember coming were going to play $1,000-$2,000, which we did, but then he back after a couple months, and that guy went from playing would lose [a big pot] and just point his finger up in the air. any suited hand against a three-bet out of position, to suddenly His translator would tell us, ‘He wants to go higher,’ which we folding overpairs. It was unbelievable how fast he had learned already knew. He did that a couple times until I essentially had to play, but it shouldn’t be surprising. If he’s playing stakes to tell him, ‘Bro, I can’t afford to go any higher. You’re going to that high, he is clearly successful elsewhere, and he’s probably tap us out in one hand if we keep going.’” a pretty smart individual to begin with.” It was at stakes of $2,000-$4,000 that the key pot went Although his opponents may have jumped head-first into down. Burns looked at pocket queens and decided to call on the shark-infested waters of high-stakes hold’em, content to the button. His opponent raised it to $24,000, and Burns pay big for a poker education, Burns himself had a much more limp-raised to $80,000. e player then four-bet to $280,000. cautious introduction to the game. Burns made the call, noting that his opponent had about a pot- “I sort of discovered poker just after high school. One of sized bet left behind. at’s when the dealer put out a rainbow my friends was playing and he was doing pretty well online at flop of K-7-7. $50 [buy-in] no-limit, $100 [buy-in] no-limit. He was a smart “He thought for ten seconds and said he was all in. It was guy making decent money, and I thought maybe there was a very large portion of the money we had to play against him, something to it.” but I knew I was going to call. I didn’t think he’d play aces, is occurred way after the poker boom, of course. Now or A-K this way. He’d bet smaller [with those hands]. He 31 years old, Burns was a disinterested teenager when fellow wouldn’t need to go all in, as he would already have the hand countryman Joe Hachem won the 2005 WSOP main event on lockdown. I do remember thinking, ‘If I’m wrong, with all for $7.5 million. of these people who invested in me watching, they’re going to “I had seen [poker] on television, and I remember hearing think I’m a f***ing [idiot], calling off their money with two when Hachem won the main event, but I was quite young at outs.’” the time. I was only 16. I hadn’t really played hold’em before, Are Live Reads A Thing In High Rollers?

“Live reads are still a thing, it’s just that 98 percent of the time, they’re not in the forefront of my decision making in a hand. In these high rollers, most of these players have very good poker faces, so to speak. You’re not going to see Adrian Mateos or Stephen Chidwick [give something away], so you just have to play a good, sound, fundamental strategy against them.” “I think most of the best players in the world are not tell-oriented to begin with. They are just so strong in theory and exploiting people based on betting patterns, that that’s how they made their money and got to where they are.” “There’s only so much edge the best players in the world can push against each other, in my opinion. For example, I can’t defend the big blind as wide against ‘LLinusLLove’ (Linus Loeliger), as I could versus some random fish. I’m going to make those adjustments. If I have what I think are [the right] Nash defense strategies, I’m going to defend wider versus a bad player than a super elite player.” “But that’s not to say that you don’t pick up stuff. You do pick up stuff, but most of the time it’s not a live read, it’s the betting patterns, or discrepancies in the frequencies of how they play their hand. That’s sort of how you exploit your opponents.” “I have some stuff on some people, but against the best players in the world, there’s just not much there. But let’s pretend you’re playing in a random $10,000 event. You might pick up a lot more stuff and use it in your decision making. Or you might have a read that you’re not sure of, but you give it some weighting. So, then you use the fundamentals, a good baseline strategy, and slightly weight that read some percentage. At least that’s the way I do it, until I pick up more information and something becomes more concrete.”

022_CoverStory.indd 23 10/14/20 9:03 PM so I didn’t think much about it. My parents “I’ve definitely had a few second and always liked card games, like cribbage, but thirds, but I don’t really look back and say, not poker.” ‘Man, that f***ing sucked that I [didn’t win].’ Burns started slow. Very slow. I don’t think about that at all to be honest. I “I was a huge nit back in the day,” he spend zero minutes on that.” admitted. “I was scared to play for real e scores have piled up, and suddenly money because I didn’t know what I was Burns finds himself approaching Hachem doing. I wanted to dip my toes in some- at the top of Australia’s all-time money where it couldn’t hurt me financially. So, I list alongside fellow high roller wunderkind just started playing for play chips.” Michael Addamo. But despite the recogni- It didn’t take long for him to master the tion he’s getting from his peers and pub- free tables, running up a couple million in lications such as Card Player, he still has play chips. He then started to play at pub to explain what he does to the majority of events, perhaps risking $10 at a time. After people he comes across. finding some strategy resources online, he “I use the Scrabble analogy,” he explained. finally walked into a casino and sat down at “I ask them if they have ever played Scrabble a $50 buy-in no-limit hold’em game. or Words With Friends, and 90 percent of “I started to win pretty much right them will say yes. en I’ll ask them if they away,” he said. “Everyone was pretty bad have any friends that they are clearly bet- back then. is was 13 years ago when I was 18. C-bet (contin- ter than, or who are clearly better than they are. Okay, so if uation bet) and be a nit was the get-it-done strategy back then.” you play this person, and the [better] player gets nothing but Almost a decade later in his career, Burns was still making vowels or trash tiles the entire game so they can’t make good adjustments. words, then the worse player is going to win. But if you play “I did some homework on tournament theory. Prior to them 1,000 times, and you all get even tiles, the person with 2016, I hadn’t really played many tournaments at all, so I the worse vocabulary has zero chance of winning. So, the tiles didn’t think I had any business sitting down and playing high are the luck element in poker, and I’m the better player.” rollers with the really good players. I would always register at Burns is the better player, but once again, it’s just a matter the start, or very early. I was aware that my short-stack game of finding a game. He was red hot in 2019, finishing fifth in was not as good as the best players at 20 or 30 big blinds. ey the Card Player Player of the Year race, and he was off to an were just way better than me and there was nothing I could do incredible start in 2020 with two massive scores on his home about it. Whereas I had played a lot more deep-stacked poker soil. But the global pandemic caused by COVID-19 shut than these players, because I had been playing cash games day down the live tournament circuit, moving high rollers online in and day out.” and putting yet another obstacle in Burns’ path. Online poker e short-stack issues were quickly ironed out as he went has been illegal in Australia since 2017, forcing him to live like deeper in these tournaments and gained experience. Before a nomad between poker stops. long, he was firing nearly every high roller on the circuit. To “I haven’t been home much at all, to be honest,” Burns said. date, Burns has cashed in 17 tournaments that featured a buy- “I’ve sort of been living out of a suitcase. I’d like to spend more in of $25,000 or more, including five wins, three runner-up time in Australia, in Melbourne, but that’s just not where the finishes, and four third-place showings. Burns doesn’t like to tournaments are and there’s no online poker. So, what are you focus on the close calls, however. going to do? You got to follow the job.” m

Kahle Burns Top Tournament Scores Date Event Buy-In Place Payout (USD) Oct. 2017 Triton Super High Roller Macau $1,000,000 HKD 3rd Place $1,319,630 Jan. 2020 Aussie Millions High Roller $100,000 AUD 1st Place $1,204,988 Feb. 2020 Super High Roller Bowl Australia $250,000 AUD 2nd Place $828,000 Aug. 2019 EPT Barcelona High Roller €100,000 4th Place $709,912 Oct. 2019 World Series of Poker Europe €25,000 1st Place $662,540 Aug. 2019 Triton Super High Roller London £50,000 4th Place $587,430 April 2017 PokerStars Championship Macau $400,000 HKD 4th Place $419,640 Nov. 2019 Poker Masters NLH $25,000 1st Place $416,500 Nov. 2019 Caribbean Poker Party High Roller $50,000 3rd Place $400,000 July 2019 World Series of Poker Six-Max NLH $10,000 2nd Place $389,832 Jan. 2020 partypoker Millions UK High Roller $25,000 1st Place $350,000 Nov. 2016 Asia Championship of Poker $100,000 HKD 3rd Place $346,060 March 2018 APPT Macau High Roller $400,000 HKD 5th Place $268,840 March 2020 partypoker Millions Sochi High Roller $100,000 6th Place $252,000 Aug. 2016 Sydney Championships $3,000 AUD 1st Place $226,295

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Final Table Set at World Series of Poker Main Event Nine Players Return in November Gunning for $8.35 Million Top Prize Chris MONEYMAKER Anthony Gregg Wins $111,111 ʻOne Dropʼ High Roller Event, $4.8 Million TENTEN YYEARSEARS AAFTERFTER THETHE BOOMBOOM 2003 World Series of Poker Champion Reflects On A Decade Under The Spotlight PLUS ắẫẴẲ Four Reasons Capture the Flag A Poker Life Staying You Need Poker With Martin With Trevor Within Your Avoid Common Betting Five Reasons You Should Final Table Takedown A Poker Life With Playing Friends Bradstreet Pope Means Mistakes at the WSOP Not Game Select With Blair Hinkle Chris Reslock

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CP_Sub_21_FP.indd 3 10/15/20 11:24 AM Strategies, ANALYSIS & Commentary WHY YOU NEED TO STOP RAISING WITH TOP PAIR By Jonathan Little

I was recently told about a pokerhand from a $2-$5 no-limit “When you have a marginal made hand, hold’em cash game that illustrates a you should look to control the size of critical error that many players make on a regular basis. A somewhat tight, the pot. If the pot remains manageable, passive player raised to $15 out of his $500 eff ective stack from middle your marginal made hand is usually position, and our Hero called on the best, but if a significant amount of button with Kn Jn. I am fi ne with Hero’s prefl op call. money goes into the pot, you are Suited Broadway cards can call a reasonably sized prefl op raise in most usually in bad shape.” situations. If Hero instead had Kn Jm, however, he should either three-bet to about $45 or passive players do not raise 7-6 suited from middle posi- fold, opting to fold most of the time due to the opponent’s tion. If the opponent does happen to have a hand like tight, passive tendencies. You usually only want to call in pocket queens through pocket nines, he is almost drawing position with hands that have the potential to make strong dead. So, there is no need at all to raise for protection. post-fl op hands. Suited hands fi t in this category because If Hero raises, many of the hands that he beats will they will occasionally make a fl ush. fold, but if he calls, he forces his opponent to stay in the Everyone else folded, and the fl op came Kp 8m 5o, giv- pot with many inferior hands, allowing him to make cost- ing Hero top pair. e opponent bet $30 into the $37 pot ly errors on the turn and river. Most importantly, when and Hero decided to raise to $100. Hero happens to have the worst hand, calling will usually On the fl op, Hero should defi nitely call. Notice that result in him losing less because the pot will be smaller. the only terrible turn card is an ace. Hero does not have e opponent re-raised all-in for $485 total. to worry about 7-6 making a straight because most tight, At this point, it should be clear that Hero is in bad shape. I would be shocked if his opponent did not show one of K-K, 8-8, 5-5, A-A, or A-K essentially every time. When a generally straightforward player is clearly trying to get their stack in on the fl op, you can be confi dent they have a premium made hand. Hero decided to call (which is a terrible mistake) and lost to his opponent’s 8-8 for middle set. After this hand, Hero was annoyed that he got “unlucky” that his opponent fl opped three of a kind. In reality, Hero should have simply called the fl op and turn, and likely folded to a third bet on the river from the tight, passive opponent. While Hero is certainly going to lose some money in this situation, he lost way more than was necessary. If Hero called a $30 fl op bet and a $75 turn bet, he would have lost $105 more. As played, he ended up losing his entire $485 stack. When you have a marginal made hand (usually top pair with a marginal kicker, middle pair, bottom pair, or ace high), you should look to control the size of the pot. If the pot remains manageable, your marginal made hand is usually best, but if a signifi cant amount of money goes into the pot, marginal made hands are usually in bad shape. m

Jonathan Little is a two-time WPT champion with more than $6 million in tournament winnings. Each week, he posts an educational blog and podcast at JonathanLittlePoker.com, where you can get a FREE poker training video that details five things you must master if you want to win at tournament poker. You can also sign up for his FREE Excelling at No Limit Hold’em webinars at HoldemBook.com/signup

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026_S&A.indd 26 10/14/20 9:05 PM Strategies, ANALYSIS & Commentary RE-ENTRY AND REBUY TOURNAMENTS: PART 3 - LATE REGISTRATION By Greg Raymer

In my last article, I spoke about Permitting a player to register late enough is how some players do not like re- entry and rebuy tournaments. e the same as giving that player money out of main concern seems to be the idea the prize pool. Obviously, they are not really that these events permit players with deeper pockets to gain an advantage being given money, but they are being given over those without. ere is also a concern that some players pursue an equity. Hallaert’s work shows how the late- extremely loose, aggressive strategy registering player has gained equity as soon during the re-entry or rebuy period, and this makes the game harder to as they enter, even before playing a hand. play for those who don’t plan on firing more than one bullet. late registration period, but that wasn’t 7:01, too bad, so sad, you were shut I took the time to explain why I always the case. It is actually amaz- out. For some reason, the concept of disagree with these concerns. You can ing how long we played tournaments registering late just didn’t exist. read about it, as well as all my previ- without the ability to register late. It was great when this changed and ous articles, at my author page on I can remember living in San most tournaments started offering the CardPlayer.com. I will say, however, Diego County in the 1990s, leaving ability to register late. At first, this was that there is a problem with many re- work on a Friday to crawl through done primarily to address issues such entry tournaments. e problem isn’t the traffic up the I-805 and the I-5, as those I faced. e poker room was with the re-entry aspect, but with the spending hours to get to Oceanside extending registration to accommo- late registration period. for a tournament. If the tournament date a player whose arrival was delayed Today, most tournaments have a started at 7:00, and you got there at by traffic or the like. Usually, the late TOURNAMENT HAND MATCHUP ANALYSISAnalysis Mikita Badziakouski had less than $250,000 in 2020 WPT World Online Championship career live tournament earnings heading into the $25,000 No-Limit Hold’em High Roller start of 2016. Since then he has gone on to cash for more than $29.8 million in recorded tournaments, such as this $25,000 buy-in WPT World Mikita Badziakouski Aleksei Barkov Online Championship event. e Belarusian star 7,000,000 Chips 1,400,000 Chips is one of the most successful high-stakes players in the game in recent years, and in this hand, he Q 10 10 4 demonstrates the well-timed aggression that has Winning Percentage Winning Percentage helped him secure eight separate seven-fi gure

Before Flop: 70.0% Before Flop: 26.0% cashes since November of 2017. Badziakouski

Q 10 4 After Flop: 13.0% 10 After Flop: 84.0% raised from the small blind with Q-10 off suit, After Turn: 7.0% After Turn: 93.0% wielding his chip lead to apply pressure on the short-stacked Aleksei Barkov, who held 10-4 suited in the big blind. Barkov made the call PREFLOP and fl opped middle pair. Badziakouski fi red a continuation bet and Barkov hung around to With six players remaining and blinds of 25,000-50,000 and an ante see the An hit the turn. Badziakouski kept his of 6,250, Mikita Badziakouski raised to 135,000 from the small blind. foot on the gas, fi ring 200,000 into the pot of 508,000. Barkov called and the 5p on the river Aleksei Barkov called from the big blind. put four cards to a straight on the board. With 908,000 in the pot and just more than that in Barkov’s stack, Badziakouski elected to move all-in with air to put his opponent to the test 6 4 3 A 5 for his tournament life, and Barkov couldn’t

FLOP ﬁ nd the call with what had become fourth pair. TURN

RIVER Badziakouski took down the pot without show-

A 5 4 3 6 down to extend his lead, while Barkov slipped to around 20 big blinds. He hit the rail in sixth Badziakouski bet Badziakouski moved place not long after this hand, earning $197,667 Badziakouski bet 100,000, and for his deep run in this event. Barkov called. 200,000, and all-in, and Barkov Barkov called. folded.

NOTE: WINNING PERCENTAGES DO NOT INCLUDE TIES. ODDS PROVIDED BY CARDPLAYER.COM/POKER-TOOLS/ODDS-CALCULATOR/TEXAS-HOLDEM

026_S&A.indd 27 10/14/20 9:05 PM Strategies, ANALYSIS & Commentary

registration period was 30 minutes, maybe an hour. e main point was to let people get in despite running late. Of course, the cardrooms didn’t take long to notice that late registration meant an increase in prize pools, and the rake, so the length of the late registration period was extended. First it was an hour, then two hours, and three hours, etc. Most multi-day tournaments now off er late registration through much of day 1, anywhere from halfway through day 1, and even up until the start of day 2. In a few cases, even later! $1,100. And there is only one place Kenny e primary reason for late reg- that extra $100 in equity can come Hallaert istration today is no longer to help from. It is taken from the equity of a player who is running late. It is to every other player still in the event. If allow a player to enter, play a while, a player enters even later, when three- bust out, and re-enter again on the fourths of the fi eld is gone, their equity same day. Many of these tournaments is about 15 percent higher than the off er large guarantees, and by permit- buy-in they paid. ting very late registration, it is much e prevailing idea was that poker more likely they will meet the guar- pros have a bigger skill advantage antee and not have to pay an overlay. when the blinds are low and there are In itself, this is not a bad thing. As more amateurs or satellite winners I discussed in my last article, I do not still in the tournament, but Hallaert’s believe re-entry (or late registration) math clearly shows the equity gained. favors the deep pockets. And even if Perhaps Phil Hellmuth and some this does lead to some players pursuing of the other top players were ahead a hyper-loose-aggressive strategy dur- of the curve when they insisted on ing the re-entry period, I’m fi ne with taking their seats at the last possible coming in short-stacked. And I do taking advantage of that as well. moment. not just mean compared to the other e real problem is equity. Kenny None of this has anything directly players, but to the blinds as well. is Hallaert, the excellent Belgian to do with re-entry, of course, but it means they are in a high-variance situ- poker player and tournament direc- is a problem that has become more ation. However, it is important to be tor, pointed this out very eff ectively apparent with later registration. If aware that it is a profi table situation in his paper, “ e Impact of Late a player re-enters when the fi eld is for them regardless. Registration on Stack Value According greatly reduced, this eff ect comes into If your tournament off ers super- to the Independent Chip Model in play. But this eff ect is the same for a late registration, one option is to not Multi-Table Tournaments.” new player or a re-entering player. e play. at is, vote with your feet. If In it he shows mathematical proof answer to this problem is not to elimi- you choose this line, be sure to tell that permitting a player to register nate re-entry, but to limit the time the room management why you didn’t late enough is the same as giving that during which re-entry or late registra- play. If enough players agree with you, player money out of the prize pool. tion is available. they will probably change this feature. Obviously, they are not really being Any experienced tournament Another option is to take advantage of given money, but they are being given director can estimate, based on a the situation by choosing to enter late equity. His work shows how the late- given structure, approximately what yourself, gaining this ICM advantage. registering player has gained equity as percentage of the fi eld will be elimi- Whatever you choose, have fun, soon as they enter, even before playing nated at any point in time. All they and play smart! m a hand. need to do is schedule the close of If a tournament starts each player registration so that no more than Greg Raymer is the with 30,000 in chips for a $1,000 buy- about one-third of the fi eld has been 2004 WSOP world in (ignoring rake), and the last person eliminated. Although Hallaert did champion, winner of to enter comes in when two-thirds of not recommend this number specifi - numerous major titles, the fi eld is gone, their stack is already cally, extrapolating from his results, and has more than worth more than $1,000. if a player registers with two-thirds $7 million in earnings. is is true even though their aver- or more of the fi eld still in play, their He recently authored “FossilMan’s Winning age opponent has three times as many ICM advantage from registering late Tournament Strategies,” available from D&B chips. Since so many have already should be no more than about two Publishing, Amazon, and other retailers. He been eliminated, they are that much percent, which is much more accept- is sponsored by Blue Shark Optics, YouStake, closer to making the money. Close able than the 5-15 percent seen in the and ShareMyPair. To contact Greg please enough, in fact, that ICM math says scenarios he did write about. tweet at him using @FossilMan or go to their 30,000-stack is worth about Yes, the player who enters late is www.FossilManPoker.com.

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026_S&A.indd 28 10/14/20 9:05 PM Strategies, ANALYSIS & Commentary SEVEN CARD STUD EIGHT-OR-BETTER: HAVING A SCOOP ADVANTAGE By Kevin Haney

us far in this long running series aimed at getting hand because it has a much better chance to win the entire new players exposed to and interested in mixed-games we pot. While the qualifier provides for a greater equilibrium have focused exclusively on the draw variants, as they are among different hand types, most of the better holdings an unknown quantity to many players. However, we need in stud 8 are still low oriented. to work seven card stud eight-or-better (otherwise known Aces through eights account for 32 out of the 52 cards as stud 8) into the rotation as it is a fixture in many mixed in the deck (62 percent) thus low starting hands have a games. high probability to improve and develop strong boards. Stud 8 is a split-pot game where the best high hand In addition, when someone completes a low against an splits with the best low hand, as long as the best low is at obvious high hand, it will be a in a highly-desired freeroll least an eight-or-better. If no qualifying low is made, the position. best high hand will scoop the pot. Experience in stud For example, on fifth street (3p 4m) 6o 7n 2m is high is certainly very helpful, but not a prerequisite to freerolling a hand like (8m Kn) Ko 9m Jp and has the learning stud 8. potential to scoop with either a five or a runner-runner A low qualifier creates a necessary balance between two pair or trips on the final two streets. high and low hands, because without it, low hands have at said, high holdings can be very profitable in stud too much of an advantage. Stud hi-lo used to be regularly 8 as well, assuming we play them well. Playing well mostly spread without a qualifier, and in that game high pairs are entails making sure you start with the best high holding sucker hands because a low hand would often have half of more often than not, as continually getting involved with the pot locked up by fifth street. the second-best high hand is a substantial leak that is For example, if you start out with (Kp Qm) Ko, the best very difficult to overcome in the long run. In any split-pot possible low you can make is a queen. So in a heads-up pot, game, the goal is to reduce the frequency of getting stuck you would simply be happy to get your money back. in the middle between two better hands as that is where In stud 8, however, a pair of kings is often quite a good you get squeezed and punished.

ANALYSISAnalysis TOURNAMENT HAND MATCHUP It wasn’t all that long ago that frequent preﬂ op raising wars were the hallmark of the young and 2020 WPT World Online Championship aggressive generation of tournament players who $25,000 No-Limit Hold’em High Roller had risen through the ranks online. All-out preﬂ op battles without premium holdings are far less common in the highest-stakes tournaments in recent Jason Koon Mikita Badziakouski years, as the top players in the world have seemed 5,000,000 Chips 7,100,000 Chips to target the turn and river as the better streets for applying maximum pressure to their opponents. K Q A 3 In this hand, two of the top high roller regulars in Winning Percentage Winning Percentage the game demonstrated that they still had the old

Before Flop: 40.0% Before Flop: 60.0% trick up their sleeves. e two began the hand as

the two largest stacks of the fi ve remaining players, K Q A After Flop: N/A 3 After Flop: N/A After Turn: N/A with one opponent sitting under 30 big blinds and After Turn: N/A two others around 50 big blinds. While the money bubble had already burst, there was a $120,673 diff erence between fi nishing fi fth and making the PREFLOP top four. Jason Koon picked up K-Q off suit on the button and raised to 132,000. Badziakouski found With fi ve players remaining and blinds of 30,000-60,000 with an A-3 suited in the small blind and opted to three-bet ante of 7,500, Jason Koon raised to 132,000 from the button. Mikita to 528,000. With an ace in his hand, Badziakouski knows there is a decreased likelihood that Koon Badziakouski three-bet to 528,000 from the small blind. Koon four-bet can have monsters like pocket aces or A-K. His to 1,200,000. Badiakouski fi ve-bet all-in for 7,100,000. Koon folded. hand can also fl op fl ush and straight draws when called. Koon’s K-Q is a solid candidate for four-betting as a bluff , given he blocks both pocket kings and queens. Badziakouski could have been three- betting with a wider range than normal in this situation, given the chip stack dynamics which would strongly discourage Koon from getting out of line. Koon made the four-bet, only to have Badziakouski fi nd the fi ve-bet all-in as a bluff with A-3 suited. Koon had to give it up, but not before having put in nearly a quarter of his stack. Badziakouski extended his chip lead even further, while Koon fell to around 63 big blinds after the hand.

NOTE: WINNING PERCENTAGES DO NOT INCLUDE TIES. ODDS PROVIDED BY CARDPLAYER.COM/POKER-TOOLS/ODDS-CALCULATOR/TEXAS-HOLDEM

026_S&A.indd 29 10/14/20 9:05 PM Strategies, ANALYSIS & Commentary

“Playing well mostly entails making sure you start with the best holding more often than not, as continually getting involved with the second-best hand is a substantial leak that is very difficult to overcome in the long run. In any split-pot game, the goal is to reduce the frequency of getting stuck in the middle between two better hands as that is where you get squeezed and punished.”

The Importance Of Scooping familiar to most players. In one-winner games, equity Scooping is the name of the game. Whenever we don’t represents the odds of winning the pot assuming all think we have a good chance to scoop the pot we should players involved in the hand go to showdown. In a game always strongly consider folding, especially if it is early such as stud 8 it is more accurately represented as the on in the hand and there is very little in the way of dead expected percentage of the pot one is expected to receive money in the pot. when incorporating possible split pots. Equity can easily For example, if we call a probable pair of kings on third be calculated using one of the numerous free simulators street with a hand such as (2n 6m) 7p we have very little available without the need of assumptions other than the chance to scoop as this holding is quite a longshot to beat range of hands that your opponent(s) can have. out the kings for high. Rough low holdings such as these Expected value is the amount we expect to win (or with limited high potential should typically be folded on lose) with our holding against our opponent’s hand or third street unless we are the first to enter the pot and have range if we modeled out the play of the hand. EV is much a chance to steal the antes. more complicated to calculate and requires a great deal It’s readily apparent to most players that we don’t make of assumptions in addition to more advanced software. that much money chopping a heads-up pot as we are Without software, we can make educated guesses that basically just splitting the antes. However, some may not some hands or situations are positive or negative EV, how- realize just how much better it is to scoop a three-way pot ever, it will be impossible to prove. than it is to split it. Some holdings that we may choose to play are more Let’s examine the math. Suppose we are playing an valuable with a higher EV than their equity would sug- eight-handed $40-$80 with a $10 ante, a $10 bring-in bet, gest, while others are worth much less. Hands with a and in a three-way pot there is a bet on every street. At the higher EV than their equity would suggest would be those conclusion of the hand there will be $1,040 in the middle: with implied odds and a good chance of profitably reach- ing showdown (i.e. realizing their equity). With these Antes $80 holdings we would mostly expect to scoop our opponents more often than they scoop us. 3rd 4th 5th 6th 7th Total Since equity doesn’t tell the entire story and EV is Hero $40 $40 $80 $80 $80 $320 extremely difficult to calculate, is there any other measure available to help gauge how strong (or weak) our holdings Villain A $40 $40 $80 $80 $80 $320 are in various situations that we may face? e answer Villain B $40 $40 $80 $80 $80 $320 is yes. We can also look at how often we will scoop our Total $1,040 opponents versus how often they scoop us, and notice the size of the advantage or disadvantage. e amount If Hero splits the pot with Villain A, he will net a $30 of times one hand scoops against another assuming both profit from the antes (Hero and Villain A both take back players reach showdown is also readily available using free their ante) and chop up Villain B for a total profit of $190. equity simulators. However, if instead we were fortunate to win the entire As an example, suppose (9n Ko) Km completes from pot, we would reap a huge profit of $710. early position and we choose to call with (2n 6m) 7p Some players are under the impression that scooping is because we are playing in a high-ante game and feel that only twice as good as chopping, yet as we can see in the the price we are getting is too good to fold even though chart above it is nearly four times better. Also, as the hand it’s highly likely we are up against kings. In this matchup, is played out there is much less inherent risk when playing while we do have very reasonable 41 percent “hot/cold” with scoop possibilities, as opposed to the times we are equity, there is more to consider than that. mostly just hoping to split. If we plug these hands into an equity simulator the Equity Versus Expected Value And Scoop Advantage (9n Ko) Km will scoop 216,375 of the 600,000 trials e concepts of equity and expected value (EV) are compared with 113,196 for the (2n 6m) 7p. us, in terms

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026_S&A.indd 30 10/14/20 9:05 PM Strategies, ANALYSIS & Commentary

of scoop advantage, the pair of kings holds almost a 2:1 advantage over the low hand, which is much better than the approximate 3:2 advantage indicated by the equities. Collecting A Debt: In practice, the low hand won’t get scooped as often as this indicates as it will usually hit the muck when it hasn’t picked up at least four to a low or a pair by fourth Phil Ivey Vs. or fi fth street. However, this isn’t necessarily a really good thing as it just means the low hand will struggle to realize its equity, which is another inherent disadvantage to the Borgata holding. Sometimes the low hand will pick up a really scary By Scott J. Burnham board which will cause an unimproved pair of kings to fold, however, the high pair will realize its equity more often than a rough low draw in addition to holding the As just about everyone in the poker world knows, Phil scoop advantage. Ivey won some $10 million playing baccarat at the Borgata e size of the scoop advantage tells a more complete story in 2016. However, a federal court in New Jersey deter- than the “hot/cold” equities especially when it is early in the mined that Ivey’s use of “edge-sorting” was a breach of hand and there is not a lot of dead money in the pot. e abil- his contract with the casino and therefore the Borgata was ity to eff ectively realize your equity is also very important, a entitled to get its money back. topic we will examine further in the next issue. m But how does it get its money back? When a court fi nds that one party owes money to another party, it issues a Kevin Haney is a former actuary of MetLife but ruling to that eff ect but does not normally order the party left the corporate job to focus on his passions to pay up. Why? Because if you disobey a court order you for poker and fitness. He is co-owner of Elite can be jailed for contempt. So if you refused to comply Fitness Club in Oceanport, NJ and is a certified with a court order to pay money, you could be imprisoned, personal trainer. With regards to poker he got which would revive the debtors’ prisons that have been long his start way back in 2003 and particularly discredited. enjoys taking new players interested in mixed games under his wing Instead of ordering the loser to pay the winner the and quickly making them proficient in all variants. If interested in money, the court instead gives the winner a piece of paper learning more, playing mixed games online, or just saying hello he called a judgment that says that the judgment debtor owes can be reached at [email protected]. the money to the judgment creditor. By itself, that paper TOURNAMENT HAND MATCHUP ANALYSISAnalysis 2020 WPT World Online Championship Mark Demirjian defended his big blind with J-10 $25,000 No-Limit Hold’em High Roller off suit and fl opped top pair with an open-ended straight draw on a board with two to a fl ush. Mikita Badziakouski Mark Demirjian Demirjian had faced a min-raise prefl op from runaway chip leader Mikita Badziakouski, who 10,200,000 Chips 1,840,000 Chips had been leveraging his stack against the shorter 9 9 J 10 stacks to extend his advantage throughout the Winning Percentage Winning Percentage fi nal table. Demirjian began the hand with around

Before Flop: 53.0% Before Flop: 46.0% 26 big blinds. He checked to Badziakouski, who

9 9 10 J After Flop: 26.0% After Flop: 72.0% bet 140,000 into the 350,000 pot with his pocket After Turn: 82.0% After Turn: 18.0% nines for middle set. Demirjian had approximately 3.5 times the size of the pot remaining PREFLOP in his stack, and he elected to check-raise all in. Demirjian’s all in denies equity to Badziakouski. With four players remaining and blinds of 35,000-70,000 with an ante He will often have the best hand at the moment, of 8,750, Mikita Badziakouski raised to 140,000 from the button. Mark but his hand is vulnerable to overcards, draws, Demirjian called from the big blind. and other one-pair hands. Badziakouski would likely continuation bet with plenty of hands that are behind Demirjian’s that will fold to the check- 10 9 8 K K raise shove. In this particular instance, he had run

FLOP into the top part of Badziakouski’s range. e TURN

RIVER Belarusian made the quick call with his set, which K K 9 8

10 improved to a full house by the river. Demirjian was eliminated in fourth place, earning $380,652 Demirjian checked, and Badziakouski bet for his deep run in this event for the largest 140,000. Demirjian check-raised all-in for recorded score of his career. 1.7 million. Badziakouski called.

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026_S&A.indd 31 10/14/20 9:05 PM Strategies, ANALYSIS & Commentary

paid the players before the Borgata seized the bank account, they would get to keep it. Are there exceptions to this rule? Of course. is is law, so there are always exceptions. One exception is that if a debtor grants a security interest in the debtor’s property, and the secured party takes the proper steps to let the world know of its interest (a process called, for some reason, perfection), then the secured party comes out ahead of other creditors, including judgment creditors. For example, assume a dealer sold a car to Ivey on credit, took a security interest in the car, and properly perfected. en if the Borgata had the sheriff seize the car to satisfy its judgment, the sheriff would say, “Sorry. e car dealer comes in ahead of you because you merely have a judgment while it has doesn’t really do much. If you loan me money and I don’t a perfected security interest.” e other nice thing about pay it back, it is pretty clear that I owe you money. So, having a security interest, as you know from watching repo what diff erence does it make if a court agrees and issues a reality shows on TV, is that you can seize the assets in judgment? which you have an interest in without fi rst going to court. e diff erence is that, once you have a judgment, you e other main exception to the fi rst-in-time rule is can use the machinery of the state to try to recover the bankruptcy. We often think of bankruptcy as being for the money. On behalf of the judgment creditor, the sheriff can benefi t of the debtor who declares bankruptcy, but it is also seize the debtor’s assets, garnish their wages, etc. for the benefi t of the debtor’s creditors. Instead of the fi rst But even with those powers, it is not that easy to recover creditor to seize an asset coming out ahead, in bankruptcy on a judgment. e Borgata tried for years to fi nd and seize they are all treated equally. And if a creditor got paid in the Ivey’s assets to satisfy its judgment before eventually agree- 90 days before the bankruptcy, it is likely that the payment ing to an undisclosed settlement in July. will be clawed back so that all the debtor’s creditors can get One such asset was his winnings at the 2019 World Series a share of those funds. of Poker of $124,410 that he got for fi nishing eighth in the Well, not all. ere are exceptions to equal treatment $50,000 buy-in Poker Players Championship. at money in bankruptcy as well. Although judgment creditors get no was turned over by the Rio in order to help satisfy the advantage in the bankruptcy process, one group that does Borgata’s judgment. But then an interesting twist came up. have an advantage is the creditors with a security interest. Two poker players came forward and said, “Hold on. A properly perfected security interest generally remains at money does not all belong to Ivey. We staked him the eff ective in bankruptcy. at is, bankruptcy will discharge $50,000 entry fee in return for a 50 percent share of any debts, often for pennies on the dollar, but security interests profi ts, so according to our contract, $87,205 of that money are protected. A secured party is entitled to the value of is not Ivey’s but ours and we want it back.” the property in which it has a security interest, up to the Are they entitled to get it back from the Borgata? I have amount of the debt. seen a lot of news stories about their claim, but nothing e moral of the story is that it can be hard to recover about the resolution, so I am going to take a stab at predict- a debt. If you are a creditor and want to get to the head of ing the result. the line when it comes to recovering from your debtor, get e long and short of it is, if the seizure was legal, the a security interest in the debtor’s property. If Ivey’s backers players who backed him probably don’t have a good claim. had gotten and perfected a security interest in Ivey’s share Once Ivey won the money in the tournament, the backers of the Rio winnings, they would have come ahead of the had a contractual right to recover $87,205 from him, but Borgata. m they did not have the right to recover the particular funds that the Rio designated as his winnings. If multiple credi- Scott J. Burnham is Professor Emeritus tors are seeking money from a debtor, the basic rule is that at Gonzaga University School of Law in the fi rst in time to get the money gets to keep it. If, for Spokane, Washington. He can be reached at example, Ivey had put the money in a bank account and [email protected].

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026_S&A.indd 32 10/14/20 9:05 PM Strategies, ANALYSIS & Commentary GAMBLE 103: PROTECT YOUR ASS(ETS) By Nathan Gamble

is is the story about how I was kidnapped. On Jan. 11, 2008, I was a senior in high school well on my way to graduating. I had college, and the women and alcohol-fueled parties that came with it, in my bright-eyed future. I was also still a bit clumsy, awkward, and had braces and a floppy mop of hair. On that fateful day it was all set to change. I had a long-awaited appointment at the orthodontist to remove my braces, and a haircut appointment at the local mall. e plan was to walk back into school a brand-new man, brimming with confidence that can only be bestowed by a new look. I was ready to take on the world! e world had different plans that day. I signed out of school at 9 a.m., successfully had my braces removed, and headed to the mall for a fresh cut. I pulled up in my dad’s old Toyota Camry, probably 13 years old at that point (it had been mine for two years and I had put more wear and tear on it than he had in the preceding years.) A few months prior I had slid into a ditch in a parking lot and there were still a couple cosmetic scratches left. “Any time you walk into Hell, even the passenger side sun visor had its mirror busted out and never replaced. It was older, it was clunky, but it a casino, you feel safe, was also reliable and got me safely to the mall. secure, and comfortable. As I sat in the barber’s chair, I slowly glided my tongue along my freshly revealed teeth thinking how weird they The floor is present, the felt. I cracked a smile in the mirror and realized that change looked good. Before long the haircut was over, and eye in the sky is watching, I stood up and admired the work. It was shorter and more ‘surfer-esque’ than before, and I thought it paired well with and security has your back. my blue polo and dark jeans. I was feeling confident, like nothing could stand in my way and I was the master of my Why would anyone cheat own fate. I walked blissfully through the food court and made you in a casino? It would eye contact with a cute girl and shared a smile. Opening the doors revealed a bright and sunny world that I had to be the stupidest place shade my eyes from in order to gain my bearings. It took a minute to figure out where I left the car, and just as I started someone could cheat. And heading into the parking lot a voice behind me yelled out, “Hey man!” yet, we know it happens.” I turned around, expecting it to be someone I knew, but instead was met by a man in his upper twenties dressed in cargo shorts, a plain black t-shirt, and a ball cap resting over with someone so down on their luck. We had arrived at my his short hair. He wasn’t anyone I knew. old trusty steed and I told him to jump in and I’d take him He approached and told a story about how his car had where he needed to go. broken down. He was waiting on a friend but for some rea- He jumped in, I started the car, and he pulled a gun out son wanted to wait it out at a gas station a few blocks away, of his pocket. maybe grab a bite to eat? “Now we’re heading to the bank!” Looking back now the story obviously doesn’t add up. It We’ll continue this story in a future issue. But what does didn’t make sense in the moment either. Something didn’t it have to do with poker? quite feel right and I told him no, sorry, I had to get back I was confident, I was cocky, I was positive that no one to school. He persisted though as we kept walking deeper and nothing could stand in my way, and I let my guard and deeper into the parking lot, closer to the car. Finally, I down. Not slowly or at a mid-point defense, but all the relented. I was having one of the best days of my life, I was way down. brimming with self-confidence, why not help someone out? By now you’ve heard or read about Stones Gambling It would only take me a couple minutes out of my way and Hall Tournament Director Justin Kuraitis. e Stones Live it seemed proper to help share some of my good fortunate stream operator has been accused of having helped Mike

026_S&A.indd 33 10/14/20 9:05 PM Strategies, ANALYSIS & Commentary

Postle allegedly cheat a low-stakes casino cash game out of Watch the big winner in the game, is it skill, is it luck, hundreds of thousands of dollars. or is it something else? Kuraitis released a lengthy statement in September dis- Don’t keep your entire bankroll in one game, one site, cussing his claimed innocence and how the court system or one location. has exonerated him. I won’t delve too deeply into this other If it’s a new environment, pay attention to everything than to point out that Kuraitis stated he “wondered if it and listen to your instincts. was possible that Mike Postle had cheated” and ultimately Count the rake being taken in home games. See if it said he didn’t. goes up, or if a dealer happens to glide another chip in by In reality, the overwhelming majority of reputable and accident a little too often. trustworthy poker players that have seen the video evidence ink about the motivation of someone hosting a game, have concluded that he did indeed cheat. But what is prov- are they hosting for a couple hundred dollars of rake a night able by the laws of mathematics is sadly not always provable or is there more that’s happening behind the scenes? in the courtroom. We still have to say “allegedly” to avoid Walk into every situation, every game, alert and obser- slander. We do not have suffi cient proof that he cheated, vant. Usually nothing is amiss, everything is on the level. and Mike is still free to play at any casino or poker room But if you have the feeling that something just isn’t quite that he walks into, assuming he can stand the dirty looks right? Walk away. Learn to say no. Learn to trust yourself, and insults thrown in his direction. We still have to say trust your instincts, and learn to listen to that gut feeling “allegedly” to avoid accusations of slander and libel. and it will help you avoid sticky situations at the poker table Any time you walk into a casino, you feel safe, secure, as well as in life. m and comfortable. e fl oor is present, the eye in the sky is watching, and security has your back. Why would anyone Nathan Gamble is a native of Texas where he cheat you in a casino? It would be the stupidest place some- learned to play Texas hold’em from his father. one could cheat. And yet, we know it happens. He is a two-time World Series of Poker bracelet e casinos spend countless millions setting up security winner, the first coming in the 2017 WSOP systems and employing top-notch fi rms to ensure that they $1,500 pot limit Omaha eight or better Event, the stay one step ahead of the crooks. Whether you are in a second in the 2020 Online WSOP $600 PLO8/b casino, on a regulated online site, playing on an un-regulated event. A fixture of the mid-stakes mix game community, he can often grey area site, playing in home games, or in an underground be found playing $80-$160 mix games at the Wynn since moving casino, you have to be aware. You can’t let your guard down. to Las Vegas in 2019. He is active on twitter under the username ere are a few things you can do to help protect your- Surfbum4life and streams mixed game content regularly on twitch self in any poker game you play: under his username Surfbum4lyfe. ANALYSISAnalysis TOURNAMENT HAND MATCHUP In this hand, Mikita Badziakouski goes for home run 2020 WPT World Online Championship value on the river after hitting top pair, and Jason Koon ends up making a hero call with fourth pair. e $25,000 No-Limit Hold’em High Roller clash began with Badziakouski min-raising the button with A-K with just over 130 big blinds. Koon made the call from the big blind with 6-5 suited as the short Mikita Badziakouski Jason Koon stack with 28 big blinds. Koon picked up middle pair 12,900,000 Chips 2,800,000 Chips with some backdoor straight and fl ush possibilities and checked to Badziakouski, who made a continuation A K 6 5 bet of 150,000 into the pot of 488,000. Koon called Winning Percentage Winning Percentage and the turn brought the Jo, an overcard and the end

Before Flop: 59.0% Before Flop: 41.0% of any backdoor draws for Koon. He checked a second

K A time and Badziakouski decided to slow down by check- 5 After Flop: 21.0% 6 After Flop: 79.0% After Turn: 14.0% After Turn: 86.0% ing back with his A-K high. e Ko completed the board, giving Badziakouski top pair, top kicker. Koon checked a third time after yet another overcard had hit. PREFLOP Badziakouski made a chunky bet of 650,000 into the pot of 787,500. Koon went into the tank for a bit with what was now fourth pair. WSOP bracelet winner and With three players remaining and blinds of 50,000-100,000 and an ante WPT main event champion James Dempsey was doing of 12,500, Mikita Badziakouski raised to 200,000 from the button. Jason commentary on the ﬁ nal-table action for this online Koon called from the big blind. event, and he noted that it was an interesting spot for Koon given that Badziakouski had checked the turn. “ e K-Q, K-10, they’re going to barrel [the turn], Q-10 is going to barrel. Of course, there are hands like K-7, K-8, but it’s harder to give Makita a king on this board 9 5 4 J K than it may seem.” Badziakouski might be inclined to

FLOP just show down a 9-X or J-X holding now that the king TURN

RIVER had appeared on the end, which might have led Koon

J K 5 4 9 to believe that Badziakouski either had a very strong hand or a bluﬀ . Koon made the call and fell to below 20 big blinds. e two players ultimately made it down Koon checked, and Koon and Koon checked. to heads-up play together, where they struck a deal Badziakouski bet 150,000. Badziakouski Badziakouski bet 650,000, that saw Koon earn $810,869 as the runner-up while Koon called. both checked. and Koon called. Badziakouski locked up $1,062,730 and the title.

NOTE: WINNING PERCENTAGES DO NOT INCLUDE TIES. ODDS PROVIDED BY CARDPLAYER.COM/POKER-TOOLS/ODDS-CALCULATOR/TEXAS-HOLDEM

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026_S&A.indd 34 10/14/20 9:05 PM Poker Stories Podcast

Poker Stories is a long-form audio podcast series that features casual interviews with some of the game’s best players and personalities. Each episode highlights a well-known member of the poker world and dives deep into their favorite tales both on and off the felt.

Download it directly to your device from any number of mobile apps, such as Apple Podcasts, Stitcher, Google Play, or Spotify. Catch up on past episodes featuring notables such as Doyle Brunson, Antonio Esfandiari, Daniel Negreanu, Jennifer Harman, Justin Bonomo, Nick Schulman, Barry Greenstein, Michael Mizrachi, Bryn Kenney, Mike Sexton, Maria Ho, and many more.

www.CardPlayer.com/poker-podcasts

CP_Brand_40_Podcast.indd 3 10/13/20 9:35 AM Schedules - Daily tournaments

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CP_Sub_23_FP3.indd 3 10/15/20 11:24 AM Poker Leaderboards

AUSTRALIAN ALLTIME TOURNAMENT EARNINGS LEADERBOARD

Rank Player Earnings 1 Joe Hachem $12,368,734 2 Michael Addamo $11,150,509 3 Kahle Burns $10,954,790 4 Jeffrey Rossiter $6,391,691 5 Jeffrey Lisandro $5,496,298 6 Jonathan Karamalikis $4,228,310 7 David Steicke $3,654,270 8 Alex Lynskey $3,502,616 9 Martin Kozlov $3,376,875 10 Mel Judah $3,366,069

Two Australian young guns have made their way to the top of the high-stakes, no-limit hold’em tournament scene in recent years. As a result, they both have skyrocketed up the standings on Australia’s all-time money list to put pressure on World Series of Poker main event champion Joe Hachem, who banked $7.5 million when he won it all in 2005 and another $2.2 million when he won the WPT Five Diamond World Poker Classic a year later. Michael Addamo has cashed for more than $4.8 million so far in 2020, bringing his career total to more than $11.1 million. Addamo currently sits in second place on Australia’s tournament earnings list. He is also in 11th place in this year’s Card Player Player of the Year race standings, with five POY-qualified final-table finishes to date. He most recently won the $100,000 buy-in high roller event during the World Poker Tour World Online Championships for just shy of $1.3 million, which you can read more about in this issue. Featured story subject Kahle Burns has accumulated more than $3.1 million in earnings so far this year, bringing his lifetime total to just shy of $11 million. Burns has made six POY-qualified final tables in 2020, and currently sits in fifth place in the POY rankings. Burns earned his second-largest career payday ever this January by taking down the $100,000 AUD buy-in super high roller at the Aussie Millions. He was awarded $1,204,988 as the champion of that event. All told he has made eight scores of six-figures or higher in 2020. The upshot is that Burns now occupies the third-place spot on this leaderboard, and is within striking distance of the top two.

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038_Leaderboard.indd 38 10/14/20 9:06 PM PLAYER_23_OceansEleven_FP.indd 3 10/13/20 9:32 AM PLAYER_23_TheBike_BC.indd 3 10/13/20 9:32 AM