June 02, 2011

May Review & Full Tilt a sinking ship?

May Review
May turned out to be my second most profitable month ever on PokerStars, despite not putting in as much volume as I would have liked. I ended up missing a solid week and a half whilst they fixed the mistakes they made with SNGs towards the beginning of the month, that I have already gone on about ad nauseam so I won't say any more! The games do seem easier since Black Friday, but I think my results this month are more attributable to running somewhat like God, especially at the beginning of the month.

Since Black Friday I have been forced to play a wider variety of games, as volume is down on the $20+ 18-mans at the times I like to play. Consequently I have been playing a mix of 6-man, 9-man, 18-man, 45-man and 180-man SNGs at the same time. Obviously the strategy for each format varies quite a lot, so I am going to have to be careful to keep on top of my game. The new software "CustomTitleBar" is allowing me to do this successfully, otherwise I think I'd really struggle. I've also cut back on tables a little bit and am playing 12-16 rather than 16-20 that I had been doing for much of the year, which makes them more manageable.

I need to commit more time to studying, as I have basically been playing 6-mans with blind faith. As a result I probably have a bunch of leaks, and could be playing them much better, even though I have faired well in them so far. It's nice to have a "red line" (ie. all-in EV adjusted results) to know how things are going more accurately in these games as well as 9-mans. I'm running a solid $1k above EV (there has to be someone running above EV out there!), but my red line goes up at a decent gradient, so although I'm due some pain, it's nice to have some other potential options out there than just 18-mans.


Full Tilt
Since Black Friday I've become increasingly more pleased with my decision to play solely on PokerStars. I have played on PokerStars since I started playing MTT SNGs, excepting a three month period February-April 2010 where I was playing 45-mans and 90-mans on Full Tilt. Although I had good results in that time, I just preferred everything about PokerStars (the software, customer support, continuous improvements etc), so I moved over permanently to make the push for Supernova in May 2010, and have never gone back.

Little did I know how much more secure my funds seemingly were on PokerStars compared to Full Tilt, based on the hugely contrasting reactions to Black Friday by the two sites. I'm no expert, but it looks to me like Full Tilt are a sinking ship and will inevitably go under. Let's just hope everyone receives their cashouts before this happens.

I'm not sure what to make of Phil Ivey suing Full Tilt and boycotting the WSOP. It may seem like a grand gesture, but he's basically screwed over Full Tilt in the process (not to mention screwing over my WSOP Fantasy Team, gfjghghlsdgfh!). Confidence in Full Tilt is at an all time low, and I can't imagine anyone in the loop wanting to play there anymore.

This is especially true of those who are aware of Nick Rainey's recent accusations of rakeback accounts being sold, and Top Pro's multi-accounting, amongst other offences, all of which you can read about here 

Check out DoubleFly's recent blog post, and Barry Carter's recent blog post for their thoughts on this topic.

Also, lol:

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10 Comments to "May Review & Full Tilt a sinking ship?"

Barry Carter said...

nice May sharkscope my man

been reading much last month? #justsayin ;)

DM said...

I've also recently started trying 6 max games without too much knowledge on the bubble factor of it all, and I don't know about your stakes but in the $15's they're full of complete idiots! Have a feeling they might attract more fish than the 9 mans at this level. Just not sure how many tables to handle simultaneoulsy yet as more FPS is going to be required.

Brian said...

James,

I've enjoyed reading your blog the last couple of months since you showed up at my little place a while ago.

Anyways, heard the logic back in March that Full Tilt was insolvent, based on the all the customer service issues that you've described above, which has been aroudn for years.

That, and all the ad money spent, money spent on new games (Rush Poker, anyone?)...just glad that my cash was at Stars, and not Tilt.

Keep up the good work!

James "epitomised" Atkin said...

@Brian Sounds like what you heard was probably right!

@DM Yeah I think I'm winning cos there seems to be plenty of fish around, and the regs kind of suck for the most part.

@Barry Hehe, afraid you can't claim too much credit just yet, will have more time to get through TMGOP in the next week or two!

Anonymous said...

U think UK grinders money is safe with full tilt or would u reccomend everyone getting there money out asap?

James "epitomised" Atkin said...

@anon It's hard to know. It is probably safe, but I know that I wouldn't be taking many chances personally. Have the absolute minimum on there imo.

Mat said...

FTP is definatley a sinking ship.
When the black friday news hit I would have paid around 40c on the dollar,now I'm not sure I'd want to risk even 25c on the dollar.

I think it's just how the leaders of the two companies view their futures and clearly FTP has no faith and wants to bail with the swag bag over their shoulder now!

As for the Ivey interview,I really hope I'm wrong but what's to say Ivey is not secretly really shady and just put that statement out to protect himself and FTP in the eyes of the law(eg: the money he owes them, relief from taxes,he sues them means less money for FTP to have for the DOJ!

Just my 2c

Mat

Mat said...
This comment has been removed by the author.
James "epitomised" Atkin said...

@Mat I'm in Vegas bro and didn't bring my laptop. I think I'd still pay 45 cents to the dollar but no more than that.

Mat said...

Good luck in the events.