Small Stakes Profitablity: Sklanksy vs. Miller, Sklanksy & Malmuth?

Luhroy · #1 04-13-2007, 01:19 AM

Somewhere in Sklanky's Gambling for a Living he says something like: skilled players cannot expect to average more than one big bet an hour (I don't have my copy right now so I can't cite the page number). But in Small Stakes Hold 'em , Miller, Sklanksy and Malmuth say, "Loose small stakes games are potentially the most profitable limit hold 'em games available ( in terms of bets per hour )" (p. 14, my emphasis). These statements seem contradictory. At the 1-2 to 4-8 levels one big bet an hour is not, in my opinion, proftiable; it's barely proiftable at the 5-10 and 6-12 and levels. I like 3-6. Can I expect to make no more than six bucks an hour on average? Am I missing something?

BigBadBabar · #2 04-13-2007, 01:21 AM

luhroy, are you just looking for little differences in between the different authors/books so as to make posts about them?

BigBadBabar · #3 04-13-2007, 01:24 AM

also my guess is that 'gambling for a living' is referring to games much higher than 5-10 or 6-12. something like 15-30 and up, at least, i would imagine. obviously six bucks an hour is not a good wage. at the low games like 2-4 or 3-6 the rake is the bigger killer anyway and the variance will be very high since there are a lot of chasers, further cutting into profits.

DavidC · #4 04-13-2007, 01:45 AM

[ QUOTE ]
luhroy, are you just looking for little differences in between the different authors/books so as to make posts about them?

[/ QUOTE ]
.
.
He's my gimmick account, sorry guys.

FatedEquity · #5 04-13-2007, 01:52 AM

If he was referring to live games that are dealt ~30 hands an hour then 1BB/hr = ~3BB/100, which is close estimate for a very skilled midstakes player.

Keep in mind that this was written before the influx of bad players into lower limit games. In these games that are populated by bad players, a skilled player can make more than 1BB an hour without much trouble, rake permitting.

[ QUOTE ]
the variance will be very high since there are a lot of chasers, further cutting into profits.

[/ QUOTE ]

Variance is a measure of statistical dispersion, it does not affect your expected value.

Luhroy · #6 04-13-2007, 02:14 AM

Absolutely not. Please don't treat my education so lightly. This is a freindly community, right--where there are no stupid questions? Besides, this difference is not little and they come from some of the SAME authors.

Luhroy · #7 04-13-2007, 02:35 AM

Actually, according to Miller, Sklansky & Malmuth's Small Stakes Hold 'em, your profit comes from chasers, or as they put it, "Be glad your opponents refuse to fold; if they didn't, you just might go broke" (p. 18, their italics), an extension of their claim in the Introduction to teach us how to "win the maximum in any games with players who play too many hand and go too far with them" (p. 6, my italics).

Luhroy · #8 04-13-2007, 02:44 AM

Thanks. I had thought about that, actually. I just wish they'd made it clearer in Small Stakes Hold 'em. I hope you're right.

Harv72b · #9 04-13-2007, 03:14 AM

It could also have had something to do with the changes in the game which occurred between when the two books were written. Or with an assumption that professional gamblers would be playing at higher than "small" stakes.

DrazzicEhv · #10 04-13-2007, 04:33 AM

I also think he refers to playing in live games.. which 1BB/hour might be ok since you don't play that much hands. Someone here said about 30hands/hour... but on the internet you can easily play more than 200 hands a hour.. so you profit in BB/hour will also be higher!