Ask Me Anything (Dusty Schmidt aka Leatherass in the well)

[susan brand]

which kind of software is ur favor for poker?

 

[Value Town]

Treat Your Poker Like a Business

Absolutely love the book.

1. In your book you discuss playing from Early Position but don't define EP. I always considered it the blinds +1. But you mention that the "blinds will probably fold" so I think you have a different definition. How are you defining EP?

2. Can you describe in general terms how specifically you are determining your opponents hand range throughout a hand when 18 tabling and only have seconds for each decision? I read and listen to live game pros and they say something like he had 7 possible hands which = 16 combos on the turn and then they have a plan for every card in the deck before the river is dealt. I am not doing that when I am playing 9 tables. I am more like this guy has a set, two pair or air - I am raising. How far off am I?

I am incorporating 100% of your book into my game. The business plan has helped. My wife loved your wife's chapter and is 100% on board.

Lastly, I play FT but am ready to switch to PS. Since there is no rakeback should I sign up through you or just go direct?

Thanks for everything..

 

[Leatherass]

Hi Dusty.

How important do you believe it is for a poker player to diversify his game? This meaning, learning different variants of poker or different formats of a same game.

#538

I don't think it is very important for online players. For live players they needed to know all the games to accomodate all of the potential poor players looking for action. On the internet, action is not hard to find so I think all of the money is in being a specialist.

 

[Leatherass]

I’ve read your book and found it interesting and a refreshing change from all the others. I don’t do math, it just does not sink in. I can not understand how it makes sense (sometimes) to call an all-in as an ace comes at the river holding two red kings on an all black paired board ? (story of my life)
I don’t use HEM with all the equations, graphs & figures, I can work out myself it adds up to “Oh shit!, not again”.

I can however understand the connection between the terms in golf/poker. Having played to a fairly good handicap for a few years. Then getting disillusioned by hitting a wall and not getting lower.

With a limited amount of funds for on-line cards. My Cash-Ring poker is like driving the green at the short par 4 with my AA only to see my opponent slice into the trees with his pocket 6’s then hack out into the greenside bunker only to see him hole his sand-shot, as I three-stab from 15feet has a 6 hits the river. Next tee (tilt) I snap-hook AK suited out-of-bounds against Pocket Queens, only to find no more balls in my bag as nothing hits the board and I’m forced to return to the club-house, totally dejected.
I know realistically he should not do that often and I will knock at least some of them putts in but it never seems to happen?

Chapter 4. The Question. Am I in? Just after moving away from Cash ring to MMT you advise the other. Although the million dollars a year does sound attractive, it’s no. I cannot process the information on more than two tables. But I will take a lot from the book away with me especially the time/ money management & setting out a clear realistic plan. Also no more cash-outs for a long while and I constantly look at the cashier, which is going to stop. On reflection I waste far too much time with distractions and cheap poker with no real growth to my bank roll at the conclusion, which seriously needs looking at.

I certainly admire your vision and drive. You seem to have a clear view of just about everything. You seam to know what you want and go get it.

Question 1. Did you explode and swear the same as the cartoon video?
Question 2. Have you exploded since working with Jared, If so to what scale?

Chapter 35 says the speed of the PC might make it possible to play 4 instead of 6 tables. Shouldn’t you return the PC and complain?
Question 3. How many if any have corrected you on this mistake? Or am I reading it wrong?

Question 4. Just an estimate how much tax do you pay a year? % wise in the US? Living in the UK we don’t pay betting tax lol. Although we pay through the nose in taxes for everything else, not funny;(

Question 5. Have I waffled on too long?

#539

1. At times yes That is why I use a poker mental game coach named Jared Tendler http://www.jaredtendlerpoker.com

2. I have had a few breakdowns after bad runs, but nothing like before. I have not broken anything since working with him which is pretty good.

3. Yes that was a mistake on our end and many people have pointed it out.

4. I am not sure exactly, but it is above 40% all things included.

5. Not at all. Come back anytime

 

[Leatherass]

Hi Dusty,
In light of your recent blog and your take on the current high stakes cash scene, what do you think of SNG's vs ring games. If the cash games truely are drying up do you think that STT's with the occasional MTT might be a better investment of time/bankroll? From my experience (only up to the $20+2) the SNG scene seems pretty soft. I currently use these to replenish my BR whenever I lose a few buyins at the cash games.
Thanx...

#540

Since all games are about as hard to learn as another, I like NL cash because your upside is much larger. Maybe I am wrong, but I am not aware of any 7 figure a year SNG players. There have been quite a few through the years in NL cash. I think there is much more money in NL cash so that is why I play it.

 

[Leatherass]

Dusty,

You seem to be everywhere in print these days! You've had great columns in the last 2 CardPlayer Magazines--are you a regular columnist there now? If so, fabulous because you offer a unique, long-in-coming perspective. Also, there's the interview in May's issue of Bluff.

My questions: Did you seek out these venues or did they come to you? Do you have a manager and/or agent? Do you ever feel like your plate is too full with all that you have going on these days? Or, do you have a master plan and as such are fully prepared to meet your evergrowing workload?

#541

I have busy times and not so busy times. Lately due to the huge success of my book, it has been busy and there have been a lot of demands on my time. I take the approach that you should take advantage of these types of opportuities because you can be yesterday's news in this profession in no time flat. So I have been very accomodating to those who have asked for interviews, most of which approached me. I do have a agent who brings a few things to me and a PR rep who handles PR stuff. But it is important to never lose sight of what got me there, which was hard work on my game. As a result I have backed off of the publicity stuff and focused on my game primarily over the past 5 weeks. It is paying huge dividends so far which is great.

 

[Leatherass]

The last post was thoughts, ramblings & notes while I was re-reading your book. Now I have digested the contents I have two more questions.

Knowledge is power

If you feed off the bad players why help with instruction to improve?
If you give medication to the mad people, who can you laugh at when they get their marbles back?

All-in on a flush draw after the turn, is it possible to alter the out-come of the river card by repeating quickly the suit you need? Or holding your head in your hands and shouting at the top of your voice “ACE” when your all-in with AK against KK or QQ? Or should I get out of the habit?

#542

The poker market is like a billion people and the number who buy books and watch videos is under 100,000. So in short, I am not too worried about it. And if for some reason all 1 billion bought my book and got as good at me at poker, I wouldn't need to make money at poker anyway haha.

I am pretty sure the cold computer half way across the world could care less whether you are shouting for an ace. What will come, will come, whether you yell for it or not

 

[BelgoSuisse]

Why do you live in the USA? Isn't that utterly inconvenient for a poker professional compared to moving to Thailand or another similar place where living costs are dramatically smaller and the time zone difference means you can play during day time against the evening US players, which would be a significant improvement to your lifestyle too, I guess.

 

[Neoblast]

Is really online poker rigged?
Which is the best strategy? LAG or TAG?

 

[Leatherass]

Ok dusty, i have been away for a few weeks and just got caught up on your thread. I puchased you book sometime ago and have readit cover to cover. I also saved up enuff to start with the roll you started with (1000) and will be beginning that this weekend looking to turn poker into a part time income.
I wonder if you could expalin a little more about how you go about selecting tables, I am confident in my game , however you make it clear that finding the fish is the first thing to do, and THEN bring the game...so teach me to go fisihing!

#544

I think I talked a bit about this in my book, but look for people with less than a full buy in and keep an eye out for limpers. Also mark every single person you ever play poker with (in the poker client) so that way you can build a database of sorts. You will be amazed at how often you sit with the same people. Hope this helps and Good luck!

 

[Leatherass]

just picked up this months copy of bluff magazine and seen they have a story on leatherass and his book being released. i believe the article stated that he has played more hands then anyone has ever logged online, sounds like anyone who is serious about improving their game would benefit greatly from reading the book and applying its principles to their game.

#545

Thanks!! If anyone is interested in checking it out it is at http://www.dustyschmidt.net

 

[Leatherass]

What casino can I play poker with you at?

#547

At the Rio for the entire month of June where I will be at the wsop!

 

[Leatherass]

Rakeback pro obviously........... Oh wait Now that your signed to stars will we see you in some of the tour games or is it just as good for you to stay at home with the family grinding?

#550

I will be at the Rio all month in June for the WSOP. If anyone wants to stop by and say hi, just introduce yourself. It will be great meeting some of you guys/gals.

 

[Leatherass]

which kind of software is ur favor for poker?

#551

I use Holdem Manager to track my hands and I play poker at poker stars exclusively as a member of Team Poker Stars.

 

[skoldpadda]

#550

I will be at the Rio all month in June for the WSOP. If anyone wants to stop by and say hi, just introduce yourself. It will be great meeting some of you guys/gals.

Defo!

I'll be there June 11-21.

Sending you a follow up on facebook.

 

[Debi]

#550

I will be at the Rio all month in June for the WSOP. If anyone wants to stop by and say hi, just introduce yourself. It will be great meeting some of you guys/gals.

Yea - lots of us will be there. I am there June 22- July 8 and will track you down sometime. I have a little tiny something for you and Jared from when I went to the Masters.

 

[Aqqachar]

#539

1. At times yes That is why I use a poker mental game coach named Jared Tendler http://www.jaredtendlerpoker.com

2. I have had a few breakdowns after bad runs, but nothing like before. I have not broken anything since working with him which is pretty good.

3. Yes that was a mistake on our end and many people have pointed it out.

4. I am not sure exactly, but it is above 40% all things included.

5. Not at all. Come back anytime

?
What the hell are you still doing in the USA?
If i was a high stakes player i would never ever pay more then 5% tax.
If mine country does ask more they can pretty much suck mine d**k!
Unbelievable that you're willing to pay that much....

 

[Sean Pilgrim]

?
What the hell are you still doing in the USA?
If i was a high stakes player i would never ever pay more then 5% tax.
If mine country does ask more they can pretty much suck mine d**k!
Unbelievable that you're willing to pay that much....

lol ... we all get taxed to death here in the U.S. Aggachar lol...

 

[dmorris68]

It's not about being willing to pay it, it's about being law and not having a choice. And especially for those players like LA who are (a) making a ton of money, and (b) widely publicized.

As bad as it seems here in the US, there are places in Europe where it's far worse. It's been said that Peter Eastgate had to pay $6.6M of his $9.1M 2008 WSOP Main Event prize money in taxes to Denmark. That's about 72%.

 

[Aqqachar]

It's not about being willing to pay it, it's about being law and not having a choice. And especially for those players like LA who are (a) making a ton of money, and (b) widely publicized.

As bad as it seems here in the US, there are places in Europe where it's far worse. It's been said that Peter Eastgate had to pay $6.6M of his $9.1M 2008 WSOP Main Event prize money in taxes to Denmark. That's about 72%.

And that's why gus hansen, patrik antonius and others aren't living in those kinda countries anymore....
It's ridiculous to pay such a sum in taxes.

 

[Leatherass]

Absolutely love the book.

1. In your book you discuss playing from Early Position but don't define EP. I always considered it the blinds +1. But you mention that the "blinds will probably fold" so I think you have a different definition. How are you defining EP?

2. Can you describe in general terms how specifically you are determining your opponents hand range throughout a hand when 18 tabling and only have seconds for each decision? I read and listen to live game pros and they say something like he had 7 possible hands which = 16 combos on the turn and then they have a plan for every card in the deck before the river is dealt. I am not doing that when I am playing 9 tables. I am more like this guy has a set, two pair or air - I am raising. How far off am I?

I am incorporating 100% of your book into my game. The business plan has helped. My wife loved your wife's chapter and is 100% on board.

Lastly, I play FT but am ready to switch to PS. Since there is no rakeback should I sign up through you or just go direct?

Thanks for everything..

1. I was talking about EP pretty broadly in the book. I think that your definition works perfectly fine for what my intentions were.

2. I do ALL of my work on how to handle opponent's and their tendencies away from the table so when I am playing, I am more or less auto piloting off of the work I have already done away from the table.

Great to hear about your enjoyment (and your wife's) of the book. Thanks for that.

Poker Stars is designed more democratically than FTP in the sense that everyone is treated the same when they walk through their virtual doors. Everyone starts at 0 frequent player points and earns their rewards as they play more poker on the site. FTP has created a huge mess for themselves with this whole rakeback situation. It is unfair and it has lead to tons of multi accounting. Truth be told, I actually played about 1,000 hands at FTP way back in 05' under a different screen name and the Leatherass account was in my wife's name. I came clean with FTP and they were great about it, but I was technically multi accounting by playing on my wife's (who is a pretty good poker player actually) account. So I like that Stars treats everyone equally when they create an account there and that is a big part of the reason why I proudly represent them.

 

[Leatherass]

Why do you live in the USA? Isn't that utterly inconvenient for a poker professional compared to moving to Thailand or another similar place where living costs are dramatically smaller and the time zone difference means you can play during day time against the evening US players, which would be a significant improvement to your lifestyle too, I guess.

#558

This is a better question for my wife. I would move out of the US (or at least to Las Vegas where there is no state income tax) in a heartbeat if I were single/

 

[Leatherass]

Is really online poker rigged?
Which is the best strategy? LAG or TAG?

#559

1. No
2. It is best to try them both and see what works. Both can be effective.

 

[Leatherass]

Yea - lots of us will be there. I am there June 22- July 8 and will track you down sometime. I have a little tiny something for you and Jared from when I went to the Masters.

#566

Sweet! Email me and we can hook up.

 

[Leatherass]

It's not about being willing to pay it, it's about being law and not having a choice. And especially for those players like LA who are (a) making a ton of money, and (b) widely publicized.

As bad as it seems here in the US, there are places in Europe where it's far worse. It's been said that Peter Eastgate had to pay $6.6M of his $9.1M 2008 WSOP Main Event prize money in taxes to Denmark. That's about 72%.

#569

72% tax is criminal. Just because the government does it only makes it organized crime, but it's still crime nonetheless. I would do absolutely everything in my power if I were him (including never going back to Denmark) not to pay that tax. That's just terrible. Didn't realize it was that egregious over there.