Saturday, January 12, 2008

Cake update - Marsh

We did it! 1,000!

Well I am temporarily in 4 figure range on the Cake Challenge. Definitely a big milestone, and don't it feel fine. I now am properly rolled for the .25-.50 game, which is a barrier level I think. When I played before on Party I started at this level. I think 50.00 is a reasonable amount for a lot of people to put down, that still has some meaning. I also think that generally speaking the play gets tougher at this point. I think a lot of novice's play here, but I think a lot of mid level players also visit regularly. That being said, Jason has told me that the play is slightly worse at .25-.50 than it is at .10-.20, and I believe him.

Even though this is a big step up in levels, I am confident that there are enough idiots out there that I will remain profitable. I still have to make the necessary adjustments though, and will probably hover around the .10-.20 for a while still. I am going to go 2 tables of .50 and 2 of .20 to start with and see how that goes. I will also continue with my PLO8 training, and my 6 man SNG's.

Anyway, thanks for all the support, couldn't have done it without you guys.

18 comments:

Austin said...

That is pretty bad ass Marsh. Congrats. I think you pretty much dominated this competition :). Keep it up, I'm really curious to see what you can get it up to!

Marshall said...

Will do buddy, will do.

Sushi Cowboy said...

Nice work Mr. Marshall. Keep up the good work...but stop before you get to playing 1/2 because that's unbeatable!

jason said...

Marsh:

This is the kind of great news I want to hear when I wake up in the morning. This is a major milestone and I believe one that very few internet players have ever achieved. It's almost the same story from everyone you talk to, bought in for x, ran in up to y, and then donked off to zero.

There is no doubt in my mind that you will continue to dominate at .25/.5. The play is pretty bad out there especially on Sundays. I had the imfamous bluff call last night on .25/.50 NL Hold'em table. I did not have much, bottom pair but his river bet looked just too weak to believe he had something. I raised and was called with the busted straight draw for queen high.

I played some $1/$2 O8 last night, very aggressive table. These tables will be tough to beat but it can be done at these small rake levels. The rake maxes out at $3 so if you get involved in a big pot you are at about a 2% rake, with the rakeback it is even less than that. The swings are wildly volatile, so it is not a game condusive to Ferguson rules.

March onward and upward good buddy. Build the bankroll so we can make some fun prop bets in Vegas. Once one of us gets to five figures, a milestone I think we can achieve, it will be time to release the book "Bringing down the Net."

royalbacon said...

So there you have it: 1/2 O8 = beatable. 1/2 NLHE = not beatable.

Congratulations, Marsh! That’s fucking awesome.

jsola said...

Man that's awesome, congrats man!

The fact that your last rakeback was 25% of your bankroll is kind of blowing my mind.

Marshall said...

Ya Joe that rakeback for that months still represents ~18% of my roll as it stands now... Pretty unreal.

I knew rakeback was important, but I didn't really grasp it until then..

I mean I do play a lot, and I had sort of a unique month in that 3 weeks of it were essentially staying at one dollar amount but winning (and subsequently losing back) lots of money. This meant rake up the ass apparently.

maddie said...

For the first month I was playing on cake, I was also getting about $10.00 per day in a deposit bonus in addition to the rakeback. I accrued bonus dollars at about twice the rate of the rakeback, so I was pretty close to playing rake free.

If anyone sees reload bonuses on cake, the group should seriously consider taking advantage of them as the bonuses do add up to material dollars.

Marshall said...

good point jase except that A) none of us with the exception of joe has the ability to deposit on cake, and B) it gets kinda complicated because ethically we cant add on to the cake challenge, but we could probably figure something out involving withdrawing and then adding money to get the bonus's. Was it easy to set up?

maddie said...

Piece of cake.

Literally and figuratively.

I have an account on EPassporte.

I can't remember how difficult that was but it probably took a couple days before I got money in there from my checking account.

Once EPassporte is alive it is relatively simple to deposit and withdraw.

If you ever wish to withdraw, the only option I think for you is by check. Not a bad option, though it takes a few days before you get a check.

Ryan said...

How much is epassport going to charge me for the transaction? Is it oppressive enough to make the whole thing -EV?

jason said...

Ryan,

I have been charged about $15 in transaction fees on EPassporte for moving money into and out of cake.

I picked up about $290.00 in deposit bonus credits. So it is way positive EV+, unless the player is so bad that they lose all of their money prior to the deposit credits kicking in.

In our group, we have zero players that fit into this category.

jason said...

Ryan,

I have been charged about $15 in transaction fees on EPassporte for moving money into and out of cake.

I picked up about $290.00 in deposit bonus credits. So it is way positive EV+, unless the player is so bad that they lose all of their money prior to the deposit credits kicking in.

In our group, we have zero players that fit into this category.

Ryan said...

$290?! How much did you deposit to earn that much bonus money?

jason said...

$290.00. I had run up by balance on Full Tilt to $300+ dollars then moved the proceeds to cake. After paying transaction costs I was above $290.00 with my initial deposit on cake.

I guess this gave me a bit of an unfair advantage on the challenge. But I was not about to give back the bonus cake gave me.

Now for the next question, what should the group do next?

There are 3 of us that have begun to amass a decent bankroll, myself, you, and Marsh. Should we just plug along on cake or should we take advantage of any other rakeback and deposit bonus offer that may be offered by another site.

If the challenge is mainly about bankroll management then why bother but if we are trying to amass the greatest bankroll possible, it is a question we should at least consider.

Ryan said...

I guess I don't understand. So you moved money over from Full Tilt and ended up down $X. $300+ --> $290.

Am I not getting something? I'm trying to understand what's in it for me to jump through deposit hoops, and so far I'm not getting it.

Maybe explain it in person next poker night.

Marshall said...

Ryan, the major sites will match your initial deposit up to a certain amount (600.00 being the most). The way you get it back is that the site keeps track of your raked hands played. AFAIK, it doesn't matter how much rake, it's just a raked hands count. Every time you get a certain number of raked hands they will release a set amount of your bonus into your account (usually 10 or 20 dollars, sometimes 50). So Jason getting that much back isn't surprising, as Cake is matching his entire first depsosit.

jason said...

Yes, Marsh is correct. In cake's case is was $ amount raked from pots when I sat at the table regardless of whether I played in the pot or not. So if I sat at a .25/.50 table after about 4 or 5 hours of play I would see a $10 bonus credited to my account. Some sites its just raked hands but most sites will release the bonus faster if you play at higher stakes.

Had I deposited more money, up to $500, I would have received a higher deposit bonus as I did not bust out on cake.