Cash Me Out

I played in Peppermill's 6:30pm Sunday tournament, which was a $95 Cash Me Out tournament. For those who aren't familiar with the Cash Me Out tournaments, the quickie version is the players who make it to the Final Table have their Tournament chips converted to Cash chips. The players then have the option to "Cash Me Out", and part of the prize pool is held back to play for. The exact details of the How and When they can Cash Out varies at each casino (Seneca Allegany used to run these, but I never played in one). I'm not sure how it works here because I haven't made the Final Table in my previous four attempts. My best finish was last Sunday when I bubbled the Final Table in 11th place.

I had a good feeling about this tournament, so I did a Running Log of it.

"Shuffle Up & Deal" 5500 - The buy-in structure for this tournament is you start with 2500 chips for $35 ($25+$10). You have two $30 Rebuys for 3000 chips each, and you can use them anytime up to the first Break. I bought my first Rebuy when I sat down, so I can be over 100 BB to start. Almost everyone saves their Rebuys until they absolutely need them, even if that means they sit there with just 1000 chips. Some players don't even use the Rebuys; they just leave after their initial chips are gone.

I start at the 5th table. There was a LIPS event at the Peppermill this weekend, and there are a lot of women in this tournament, including half of my table.

The levels are 15 minutes long.

End of Level 1 (25/50) 4700 - There are some Kids at my table who are friends and are drunk. I lost chips by limping with AA UTG. I had to fold on the River. Someday I will learn not to make plays like this.

Level 2 (50/100) 7725 - I limped on the Button with 9h 7d. The SB (one of the drunk Kids) raised to 650. The Cutoff called, and so did I. Flop was Td 8c 3d. SB goes All-In for 1800, and Cutoff folded. I'm getting just over 2-1 with a Combo Draw, but there are a few hands I really don't want to see (AxAd, AKd, TT, etc). But I make the call, and he shows TT for a Set. I hit my Flush on the Turn, and he missed the River. 

Level 3 (100/200) 18875 - I was getting hit by the deck for the whole level. The biggest pot was me limping in Early position with AKh. A lady in Mid position raised to 600. The Cutoff 3-Bet to 1200, and it folded back to me. The Mid has 2500-ish behind, and the Cutoff has around 5000 left. I decide to ship it All-In. Mid folded, but the Cutoff called with 99. I won the race by hitting a Flush.

Level 4 (150/300/25) 20500 - One player limped in. The Button raised to 1000. I'm the BB with KK, and decide to just call. The Button is a tight player, and I don't want to chase him off. Limper called. Flop 8 8 2. I bet 2100, and they both fold. 

BREAK - We have 54 players for this tournament, and there are still five tables. Even though I'm over 20k, I decide to use my last rebuy for 3000 chips. I really want to make it to the Final Table, and there will be a lot of coin flipping soon.

Level 5 (200/400/50) 23600 - At this point, the Running Log comes to an end for a few reasons. First, it's much harder to do an entry every 15 minutes, rather than 20 or 30 minutes. Second, the Dealer started yelling at players for touching their phones, even though no other Dealers had a problem with it.

And finally, I ended up sitting at all five tables. When our table broke (#5), I got sent to Table #2. Two hands later, I was moved to Table #4. When that broke, I went to Table #3. And, as you can guess, when that broke, I went to Table #1.

Anyways, there was some Good, some Bad, and some Annoying. My chips stack hovered in the 12k - 23k range.

When I got Table #1, there were two tables left. Shortly after I got there, I was dealt JJ, and raised. The player after me was the only caller. It was a 60's Lady, and she had the Monster stack. The Flop was K Q x, so I just checked and folded to her bet.

This left me shortstack, so I waited for an opportunity to ship it. While waiting, I noticed that the Lady liked to call with her Monster stack. Finally, it folded to me in the SB, and I shipped it All-In with K4d. (I don't remember the specific amounts or Blinds. I had around 6000 and it either 700/1500/200 or 1k/2k/300). The Lady called rather quickly with 92c. Fortunately, this is not a Bad Beat Story, as the Board missed both of us.

Even with the double up, I was still short on chips, so I shoved All-In the next two hands. Nobody called, so I kept doing it. I was able to build up my chips stack with almost no resistance. Eventually, I had enough chips to just do standard raises. In the one or two times someone pushed back, I simply folded and raised again later. The main reason for this was we were getting closer to the Final Table, which is when the chips were converted to Cash. As we approached the Bubble, the players tightened up, waiting for the big hands. I was abusing the Bubble, and nobody wanted to fight back. It was beautiful.

Finally, we were down to 11 players in Level 11 - 2k/4k/500. I raised in Mid with 2 Blue 5k chips. The SB, a young Lady from Canada, went All-In for something in the 20k-25k range. I'm not sure exactly how much it was because I had AKo and I didn't care. She had a smaller Ace. I hit the K on the Turn to pop the Bubble, and get us to the Final Table.

We counted down all the stack for the conversion, and I had 82500. (Remember, I had around 6000 just a little bit ago.) I was second in chips, behind the Lady with the Monster stack, who had 90k. We got new seats, and the Lady was on my direct Right. Sweet!

After the TD did the conversion, he brought over the Cash chips, and explained how this was gonna work. 75% of the prizepool was converted from the tournament chips and given to us. I got $585. We had the option to Cash Out right now, or keep playing with the blinds at $5/$10 and 15 minute levels. At the start of each level, players would be given the option to Cash Out. The remaining 25% of the prizepool was Winner-Take-All, although there could be a Chop when we were down to five players or to the $25/$50 Level.

Naturally, being 2nd in chips, I was gonna play it out. The Lady was in town for the LIPS event with her husband, and he also made it to the Final Table. They were deciding what to do. I gave them my opinion that one should Cash Out to lock up the profit and one continues to play. They finally decided to both Cash Out, since they had over $800 between them. I can understand them wanting to Cashing Out, and I was thrilled that I was now the Monster Stack.

Two other players Cashed Out, and we started with six players at $5/$10 level. Surprisingly, two very short stacks stayed in, $85 and $65. I guess they wanted to get their buy-in back. The other players were in the $100 - $300 range.

Not surprisingly, the play was rather tight. After an orbit, I decided to raise to $25 UTG with QJs. The $85 shortstack then went All-In. She had won one pot, and she was up to around $100. It folded back to me. Since I was willing to raise in this spot, then I gotta make the call, and hope I'm not crushed. Of course, I hated to see her hand, JJ. But I loved to see the Q hit the River, and we're down to five players.

As you would expect, the Chop talk started immediately. I had no interest in doing an even-money chop, as I had around $700 in my stack which was more than double any other player. If we eliminate another shortstack or two, then I might be interested.

But a regular tourney grinder, who's been at these Cash Me Out Final Tables before, came up with an offer. Give me $300 of the $946 and split the rest, which worked out to $160 each with the last $6 going to the Dealers. As I said, I don't want to make a deal, but I do understand what could happen at these shortstack Final Tables. Even though I'm the dominate stack right now, I am just a 2-outer and a Coin Flip away from being in trouble. (It's happened to all of us at one time or another.) This is a fair deal for me, so I accepted it.

I walked out of the Poker Room with $990 after the Dealer's Tip, and I got another notch on my belt.