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My Take On Nolan's Column
By Daniel Negreanu

I'd like to add a few tidbits that go right along with what Nolan has already covered: The majority of tournament players live "score to score". They live excessively lavishly when they hit a big score, and are broke the rest of the time.

Most of the tournament players don't take the time to understand how much each tournament is worth to them. I wrote a column a while ago called, Play Hours Not Results. In it, I explained how growing up I was never concerned with my results on any given day, I was simply concerned with getting 40 hours of "work" in at the tables. I knew that "in the long run" I'd earn $44 for every hour I spent at the tables.

A simple concept, that can be applied to tournaments as well. Example:

$1060 buy-in
tough field
100 players

In a typical situation like this one, I would expect roughly a return of $2000 on average, making the tournament worth $940 to me. Tournament time will probably average 4.5 hours of playing time and another 1.5 hours of break and preparation time. A total of 6 hours for $940 an hour (or $156.67 ph).

So whether or not I win the tournament or am the first one out, I've earned $940. If I win $45,000, I've in actuality only earned $940. The typical tournament player fails to understand this simple truth.

The typical player puts so much added emotional stress on themselves, always believing, "I have to make a score. Then everything will be all right." Rather than take a scientific approach, they are banking on a "lucky" score to rid them of all their financial worries. However, the "score" is usually just a temporary relief of the stresses they'll soon face once again.

In fact, in most cases the score might just get them out of the hole, needing yet ANOTHER score to have any kind of a bankroll.

On the flip side, you have the successful cash game players. They don't make big scores. On the surface, it may appear as though "they" are "grinding it out". When in fact, the opposite is closer to true.

The cash game player is building a solid foundation. With an adequate bankroll, he is avoiding the emotional swings the tournament players typically suffer through. Sure it doesn't appear glamorous. No trophies, no accolades, no "pictures in magazines." None of that... all they are left with is a house that is paid for... a car that is paid for... children put through school, and finally, a social life of their own choice.

In several columns I've made reference to this. I've said all along that the "real" players are in the side games. The true greats are players you'll rarely hear of, and for the most part, that's exactly how they prefer it.