A Big Easy WSOP Circuit Tourney

While "in the neighborhood," after playing in an Arkansas regional bridge tournament in early May, it seemed very logical for me to spend a few days at the World Series of Poker Circuit event being held at Harrah's in New Orleans. The original WSOP held once a year in Las Vegas has now been expanded so that there are several WSOP Circuit tournaments held in various cities throughout the year. Why have only one WSOP tournament each year when you can have several?

I always have liked New Orleans, and Harrah's is right next to the river and the famous French Quarter - which even Hurricane Katrina couldn't shut down. And New Orleans has always been Omaha country, even in this modern day and age when no limit hold'em seems to have taken over in many cities. In addition to $3-$6 limit hold'em and $1-$2, $2-$5, $5-$10, and $10-$25 blinds no-limit hold'em, the Harrah's poker room also spreads $4-$8 and $15-$30 limit half-and-half (one round of hold'em and one round of Omaha), and a $500 buy-in pot-limit Omaha game with $5-$10 blinds.

The WSOP Circuit daily main events were mostly $550 buy-in no-limit hold'em, starting at noon. Then at 10 p.m., there was a lesser tournament with a $340 buy-in. There were also numerous single-table satellites and supersatellites.

Playing in one of the daily main events, the blinds were 100-200, and with about 8,000 in chips (which was several times better than average), I was in fourth position and raised it to 500 before the flop with the A Q, and only the big blind called. The flop came J-10-8 rainbow (with the 10). The big-blind caller, who had about 3,500 in chips, bet 1,000. What would you do in this tournament situation?

Note that I had a two-way straight draw (a king or a 9), and could even make a flush. If the big blind was leading with a single pair and no other substantial equities, I would be roughly even money (for example, I would be a slight favorite over a 10-6 or a 54-44 underdog to an A-10). My opponent had made several other speculative flop bets, and I really didn't like folding this hand. I might even have the best hand at this moment.

Although obviously somewhat risky, because my opponent still had about 2,500 in chips and was not pot-committed, I thought it was a high-percentage move to go all in. There would be many hands that he would fold. And I thought I would have reasonable chances no matter what he had. Unfortunately, he happened to have 9-7 (flopping the low-end straight) and called, and I lost almost half of my chips. My old friend (and former Card Player columnist) Nolan Dalla, who was handling the PR for the tournament, happened to walk by during this hand, and said he agreed with my move. Do you?

Although it did rate to be a fairly high-percentage move, perhaps the main argument against it was that I had attained a very advantageous chip position with my 8,000, and the loss of 3,500 in chips would be much more detrimental to my overall chances than grabbing the pot of 2,100 (if he folded) would add to my chances of winning. I usually refer to that kind of situation as a poker application of the law of diminishing returns.

Here's one quick problem for Omaha fans. Playing straight high pot-limit Omaha with $5-$10 blinds, you smooth-call a raise to $25 while holding J-10-9-7 single-suited. In four-way action, the flop comes 10 8 3. The player with the large stack who raised before the flop leads with a $100 (pot) bet. You have about $600 in chips, and the other two players have about the same. What do you like here?

Since you would never fold, your choices are to call, bet the pot (raise), or raise some amount in between. Because there are two clubs in the flop, it would be highly desirable to get a flush draw to fold, since it would hit about 35 percent of the time. Since you have 17 outs with two cards coming, you are a favorite to make your straight (about 57 percent). Since you also would be a favorite over a player who flopped a set, you would not even object to going all in at this point. So, I consider this just about a clear "textbook" pot-raise situation (unless there was some unusual overriding consideration). By the way, I did raise the pot at this particular table, and everyone folded.

And everyone I talked to seemed to agree that Harrah's in the Big Easy is a great place to have a poker tournament.

Formerly a career lawyer with the U.S. Department of Justice, Mike Cappelletti has written numerous books on poker and bridge, and is considered to be one of the leading authorities on Omaha. Mike has also represented the U.S. in international bridge competition, and he and his wife were featured in a four-page Couples Section in People magazine. His books include Cappelletti on Omaha, Poker at the Millennium (with Mike Caro), and Omaha High Low Poker.