Overlay

After checking in to my room at Harrah's Reno, I walked across the street and down a bit to the Eldorado Casino. They were having a Tournament Series this weekend, and the last event was at 5pm, $200 ($175 + $25) NLHE with $2000 added for 1st place. The $200 got you T4000 chips, and there was a $5 Dealer Add-On with T1000 chips. The levels were 30 minutes long. The structure was actually kinda good with extra levels added in the middle of the tourney.

Being in Reno on a Sunday night, I really wasn't sure what to expect for a turnout. But I certainly didn't expect what happened. They originally had 4 tables (9 handed) set up for "Shuffle Up & Deal", but they only had three tables with maybe 20 players to start. The Late buy-in period was one hour (2 levels). They ended up with 23 players. With $2000 added to the prize pool for first place, that's an overlay of $87 per player. That is huge for a $200 tournament. To put it a different way, the regular prize pool was about $4000, and then they're adding $2000 to that.

With the small field and huge overlay, I decided to have the same strategy that I have for the small Greektown 11am tourneys. Basically, fold to the Final Table. Don't splash around too much and keep my VPIP low because I don't have many chips. Stay away from calling raises, and try not to get involved in marginal spots. If I start to get low, try to maintain in the 10-20 BB range. Once I get to the Final Table, I feel I have a big advantage because I've been involved in so many Final Tables at my Home Game tournaments.

However, everything went wrong for me. Whenever I zigged, I should have zagged. Early on, I folded the Q-high Diamond Flush on the Turn on the Button. The SB bet the Flop, and then bet the Turn. A Mid player called the Flop, and shipped the Turn. He's a 50's guy who's already folded AA face up in an earlier hand. It was a really close decision. Eventually, I thought survival was more important with this tournament, so I folded. The SB had the Ad with Top Pair. Mid guy had 87d for a smaller Flush. This would have been a good Hand Of The Day, but I wasn't in the mood to write down the details.

There were many other spots that just didn't work out like they should have. But the worst of all was when we were down to two tables with around 16 players left in the 150/300 Level. I raised UTG to 825 with AQd. A 20's lady in Mid position called. SB goes All-In for 1125 total. I can't raise to isolate, so I call the extra 300 and so does the Lady. Flop was 9c 6h 3d. We both check. Turn [9c 6h 3d] 9d. I check. She starts mumbling about me having overcards, and her having a pocket pair. She grabs some chips, and bets 600 in to a pot of about 3600. So I need to call win 600 to win 4200, or 7-1 Pot Odds. But I've only got 6 outs, and there's a good chance that the SB has one of my outs. Since things haven't been going well up to this point, I'm getting short on chips, and tossing another 600 just hoping to hit isn't a good idea, even with Pot Odds. So I fold. The SB shows KJh and she shows Qs Jd. The River was a brick, and the SB stays alive with K-high.

I was furious. Not because she lied about having a Pocket Pair, or because those 3600 should have been mine. The reason I was pissed was because that may have been the stupidest bet I've ever seen in a tournament. With Q-high, she has no Showdown value. She can't win the Main Pot with Q-high, and there was no Side Pot to bet into. What did she think the SB had, JTs? That was the only hand she could beat. Even if she had 22, it wouldn't have been a terrible bet, because she could beat Overcards. But with that retarded 600 bluff, all she did was let the SB hang around.

Shortly after this hand, we get to the first Break. I've got 2500, or half of my starting stack left. With the next level being 200/400, it's time to start shoving. On the Break, I talk to the KJ guy about that hand, and I tell him that he'll probably be the one to knock me out, since he's now on a Freeroll.

On the second hand back from Break, I look down at K9h, and I ship it All-In for 2500. It folds around to the BB, who is the Freeroll guy. He thinks about it for a bit, and reluctantly calls with 88. I'm sure that I don't need to tell you that I completely missed the Board, and I finish in 12th place.

I don't know what happened after I left, but I would bet my bankroll that the Freeroll guy went on to a sweet cash.