Variance in poker, and especially in poker tournaments, can be maddening. This episode investigates the effects of variance in tournaments (where variance is insane) and cash games (where it can be milder). Your correspondent also reviews a recent $5/$10/$20 No-Limit Hold-Em cash game session.

0:00 Introduction
0:40 Jonathan Duhamel vs. Matt Affleck
7:53 Variance in tournaments
9:50 Tournament economics
13:30 Markup
16:55 Tournament delusion
20:34 Session review: $5/$10/$20 NLH
32:10 Variance in cash games

Episode 2 of Third Man Walking explores the dark, anarchic underbelly of the poker world, including the alleged poker cheating scam involving Mike Postle and Stones Gambling Hall.

0:00 Introduction
0:33 Is poker good for us?
2:57 Degenning
7:30 Misogyny

10:40 Session review: 5/10 NLHE

21:47 Poker outside casinos
22:30 Scamming and stealing
26:16 Cheating / Mike Postle
31:13 Problem gambling
33:20 What's good about poker

In the first episode of Third Man Walking, we discuss how it feels to play poker for a living, and why professional poker players are best described not as sharks, but as cockroaches. We also review a $5/$10 cash game session in which our correspondent wins over $7000.

0:00 Introduction
1:36 Frustrating session review
5:15 Waiting for our chance
8:41 Rules and basic strategy
14:30 Winning session review
30:02 Conclusion