Generation Next -- Michael Caruso

Many talented players vanish from online poker or the poker circuit because they recklessly squander their bankrolls. There may be many reasons for going completely busto, some perhaps justifiable, but with no cash, you simply can't play the game you love. It happened to Michael "rusostreet" Caruso. He was beyond clueless about money management after a big win online at PartyPoker in 2004. After crashing and burning his roll, he took a step back, studied the game, formulated a plan, and invested $1 toward his future success.

"I deposited $1 into a bank running a deal," said Caruso. "They would give me $50, but I had to keep the $1 in there for one year. No problem. I took that money and deposited it on Bodog, who matched my deposit. So now I had $100 online. I was psyched."

Still with no concept of bankroll management, Caruso entered a $20 tournament and won it, for $1,100. He was on a roll. Then in 2008, Caruso, 24, scored big with a win in the PokerStars $215 second-chance event, for $54,480, a second-place finish in a Stars $530 Sunday event, for $67,584, and countless other final tables. He then brought in 2009 with fireworks by taking down the prestigious Stars Sunday $215 rebuy event, for $41,000.

The comeback kid has cashed online for more than $800,000 since taming his spewing bankroll ways under the tutelage of a well-known pro. A former hockey player, Caruso has learned to stay positive, keep his head on straight, and apply the discipline ingrained in him from competitive sports.

Craig Tapscott: How do your competitive hockey years relate to your poker success?

Michael Caruso: Poker is like hockey. What I liked about hockey was that there weren't really any set plays. It's a game of read and react. Poker is the same. It's a flow game in which you have to read, react, and adapt to what's going on, and then act accordingly.

CT: Anything else?

MC: The mental aspect of the game is key. I mean, I do a lot of things that aren't right, I'm sure, in certain situations. But I understand my game and what I need to do in every situation. My mental clarity in this regard, and staying positive, has been essential for my recent success.

CT: You obliterated your first bankroll by playing over your head. What did you learn from that experience?

MC: First, I spent three or four months watching the top players online, like JohnnyBax. I would really focus on one table and watch everyone's chip-stack sizes, and what Bax was doing at certain times of the tournament. I would put him and his opponents on hand ranges and then try to guess what was going to happen in the hand before it happened. I'll still open up the biggest MTTs [multitable tournaments] online and watch the best players, and try to see what's going on with the betting and try to get reads on people and guess their hands.

CT: I understand that your good friend Ari "Bodog Ari" Engel gave you some great advice.

MC: He taught me a lot about bankroll management; he's a nit. And, he impressed upon me that I have to let go of what happens at the table and not focus on results, because it's a longevity game. Sure, there's going to be luck involved, and that is why you're going to be successful, because there are players who just get lucky, and that will keep them playing. Now I don't believe in mistakes, because I turn them into learning experiences. I always focus on playing my best and being mistake-free as best I can.

CT: The Bodog poker site was also good to you.

MC: Bodog was the best thing that ever happened to me, as there were small fields and a lot of bad players, so it seemed like I was always making a final table. That made it easy for me to build confidence in my game.

CT: What was another key to your success in 2008?

MC: To always stay hungry to improve my game. I determined last year that it's best to play when I'm really hungry to play each day, and not play just to play. When I sit down to play a session, I have to play to win. And another key to my success has been playing less volume, except on Sundays. This guarantees that when I do play, I'm more motivated to play and will do my best.