Gordon - Phil Gordons little gold book: advanced lessons for mastering poker 2.0

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PHIL GORDONS LITTLE GOLD BOOK

Previous Titles by Phil Gordon

Poker: The Real Deal
(a k a Phil Gordons Little Black Book)

Phil Gordons Little Green Book:
Lessons and Teachings in No Limit Texas Holdem

Phil Gordons Little Blue Book:
More Lessons and Hand Analysis in No Limit Texas Holdem

This publication contains the opinions and ideas of its author. It is intended to provide helpful and informative material on the subjects addressed in the publication. The strategies outlined in this book may not be suitable for every individual, and are not guaranteed or warranted to produce any particular results. The book is sold with the understanding that the authors and publisher are not engaged in rendering any kind of personal professional services in the book.

The author and publisher specifically disclaim all responsibility for any liability, loss or risk, personal or otherwise, which is incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this book.

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Copyright 2011 by Phil Gordon

All rights reserved, including the right to reproduce this book
or portions thereof in any form whatsoever. For information
address Gallery Books Subsidiary Rights Department,
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First Gallery Books hardcover edition October 2011

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Designed by Peng Olaguera/ISPN

Library of Congress Cataloging-in-Publication Data

Gordon, Phil, 1970

Phil Gordons little gold book : advanced lessons for mastering poker 2.0 / by Phil Gordon.

p. cm.

1. Poker. I. Title.

GV1251.G659 2011

795.412dc23

2011031197

ISBN 978-1-4516-4159-2
ISBN 978-1-4516-4160-8 (ebook)

To Xander and Zachary,

With everything you do in your lives, go all-in.

Daddy loves you.

PHIL GORDONS LITTLE GOLD BOOK

Ive said it before and Ill say it again: poker is a very difficult game. It has been six years since my Little Green Book was published, and in that time the game has morphed considerably. The prevalence and importance of Internet poker have fueled most of the changes. Pot Limit Omaha (PLO) has become the game of choice at nosebleed stakes. The players are more aggressive, the games more volatile, and the decisions tougher. With all that in mind, I thought it was time to reexamine the game from the ground up with an update to the Little Green Book. To write this book, I had to do some soul-searching and take a critical look at my own game. In many ways, new poker has passed me by in a flash. At forty plus years old, Im ancient in the poker world. The kids are now dominating. From 2008 to 2010, thirty-six players made the final table of the World Series of Poker Championship Eventtwenty-four were under the age of thirty, and twelve of those twenty-four players were twenty-five years old or younger. These kids are good.

To give my readers the best possible insight, I knew that I needed to completely relearn the game. And I needed some help. Fortunately, that was relatively easy to find. I owe a debt of gratitude to my friends and mentors Anders Taylor, Phil Galfond, Annette Obrestad, Daniel Cates, and Austin Schaff. They are the ones who gave me the insights and impetus to write this book. With their help, my goal is to shorten your learning curve. If you havent read and studied the Black, Green, and Blue books, I suggest you do so before taking on this more challenging material, as the fundamentals laid out there will still serve you well in the new poker ecosystem.

We will begin with the foundations of Poker 2.0. Well examine some of the mathematics and concepts behind the new poker theory: range, combinatorics, and expected value. For the mathematically minded, much of this material will be easy. For others, it will be a real struggle, but perseverance will make the effort worthwhile.

Next, Ill introduce you to the modern poker players toolkit. Heads Up Displays are the biggest innovation. Using them properly can take your game to an entirely different level almost immediately. Ill also show you how to effectively use range simulation tools to your advantage. These new computer models are essential in todays poker world.

We will reexamine No Limit Holdem, tackling both cash games and tournaments with rigorous detail. The strategies of yesteryear have been replaced by new thought processes, new lines of play, and new insights. Think of this section as the Little Green Book, version 2.0. (Note: When advice varies between the Green and Gold books, go for the Gold.)

In the next section, we turn to Pot Limit Omaha, the new game of choice for most high-stakes cash games. PLO is fast and furious, with some huge bankroll swings and a strategy all its own. Im still working on my PLO game and Im no world-beater. But Im confident that the fundamentals in this section combined with good game selection will turn a profit in all but the toughest PLO games.

In the Meta-Game section, well talk about the game-within-the-game and some important non-strategy concepts that need to be mastered. Well also take a look at the remarkable Chris Ferguson and his quest to turn zero dollars into one million by utilizing excellent bankroll management rules.

Last, well hear from three poker whiz kids and learn what makes them tick and their strategies for success, as we get coached by the best in the game. Much of the material presented in the first sections of this book stems from the advice and counsel of my mentors. Well talk with Phil Galfond, Annette Obrestad, and Daniel Cates. Phil is one of the best PLO players in the world. Annette is a multi-table tournament genius. And at the ripe old age of twenty-two years, Daniel is widely considered the best Heads Up No Limit Holdem specialist in the world. Their contributions and willingness to share their insights were invaluable to me, and I know youre going to find this material very helpful as well.