|I have learned the most hated word in poker. Variance. This is an ugly nasty word. Especially since I learned it the hard way. I got hammered with variance in 4 straight SnGs. It happened like this. In each SnG I was dealt AA in good position with 4 or 5 players left. Someone ahead of me (always the big stack) bet hard, and I raised. They went all in and I called. Three times I saw a smaller pocket pair and once a KQ suited. Each time they hit a set! So each time I was knocked out of the game. Yes I know it happens, and AA is only 86% favorite, but 4 games in a row? This is how I learned what variance is. It means your 86% does NOT happen evenly. I suppose I can take some solace in the knowledge that this means my next few AA should be pretty solid, but man did this hurt my bankroll.
The reason it hurt is of course that I had been doing pretty well, and so I decided to leap up the levels, (just a little cocky) and play for some real money. So I got hammered out of 4 entry fees at a level my bankroll was not ready to play at. At least not with the poker gods deciding to teach me a new word and all. It is a shame too, because I had worked out a pretty good rhythm to my play. I would log in and look at the ring games and the SnGs. If the ring games looked good, I went there, but if the table seemed cold after an hour or so or if I could not find a table I liked I would switch to SnG play. This has kept my game and my mind pretty sharp and I donít feel like I am just grinding out the BB/hr. So in addition to the nasty new word, I learned something about bankroll management. But man I wish these lessons came a little cheaper.