Article
Bill Chen
tagged: Magazine Articles
Softly spoken, round-faced and bespectacled, Bill Chen probably isn't someone you would instantly recognize if he walked past you in a card room. He seems to be one of those "getting it done quietly" types.
But how about Jeff Madsen? Would you know the 21-year-old phenomenon who won two WSOP bracelets at the World Series of Poker in 2006. And how about Phil Hellmuth who took home his 10th WSOP bracelet in 2006?
Well, Chen, a member of Team PokerStars matched Madsen bracelet for bracelet at the 2006 WSOP, yet received far less publicity and press coverage – part of the whole "getting it done quietly" mentality, no doubt. Typically Chen responds with a shrug of the shoulders when asked if he felt that Madsen's achievements at the WSOP detracted from his own.
"Jeff and I weren't the first to win two bracelets in one series," he says matter-of-factly. "It's been done before and I've no doubt it will happen again."
And he's right, Hellmuth won three in 1993, and Johnny Chan triumphed in two events in 2003. These, though were both in the "pre-Moneymaker" boom. Only Ted Forrest and Scott Fischmann, who both took home two bracelets in 2004, have matched Chen's achievements against the huge fields that WSOP events garner these days.
IN THE MONEY
What a typically modest Chen fails to mention, though, is that he had an absolutely outstanding 2006 Series. Along with his two bracelets, which he won in $3,000 Limit Hold 'Em and $2,500 Short Handed No Limit Hold 'Em, he also made the money in four other World Series events including another final table in a $1,500 No Limit Hold 'Em event.
"The World Series is a very long series," states Chen. "There are 54 events this year, so to do well you need to get enough rest so you can focus on the tournaments.
"If you can't adjust to the long series of tournaments, one after the other, you'll suffer."
As his results show, Chen can. This year you can expect Bill to be a constant fixture in the Rio's Amazon room for the month of June. "I'll be playing as many tournaments as possible at this year's series," he says. "I'll play the tournament that starts at noon, and if that doesn't go well, you'll probably find me in the 5pm tournament!"
What's more amazing is that he will be undertaking this grueling schedule during his holiday time off work – and he's been doing it for years!
MODEL EMPLOYEE
Despite all of the success that then experienced in 2006, the University of Berkeley math PhD never considered going pro, and has a full-time job working for a financial trading company.
"I love my job," he says. "I work on mathematical models, essentially, and the environment is great. My colleagues are all very supportive – and of course I get time off to play in the World Series."
Chen's day job obviously keeps him busy. When we spoke to him at the PokerStars.com EPT Grand Final in Monte Carlo, he admitted: "I haven't played a lot since the last World Series." In fact, that has been true throughout the last decade or so. Chen has constantly put his career and his work before poker.
"I had an Uncle who used to play Lowball, back when it was the only legal game in California. I went to Berkeley to study for a PhD in mathematics, and decided to play poker to supplement my income. I had student aid, but rent, at $500 a month, accounted for almost half of that. I soon found I could earn $200 a month playing 2-4 Stud and Hold'em."
Chen began to frequent the Oaks Card Club in Emeryville, California. He won the weekly tournament there an amazing 26 times – that number being boosted by a streak which saw him win the lion's share of the prize pool seven weeks out of eleven in one hot streak.
In 1999, Chen graduated with his doctorate, and although he's never entertained the thought of properly going full-time, he says there was a time in 1995 and 1996 when he was virtually pro. "I played a lot that year and won about $30,000," he says.
Chen's background in mathematics – and knowledge of many different forms of poker –have not only led to him cashing in a wide array of events, but also to him developing an interest in game theory.
That passion ultimately led to Chen, along with co-author Jerrod Ankenman, publishing The Mathematics of Poker in 2006. The book was met with critical acclaim, as it was one of the first books to examine the math and game theory of poker in detail. Its impact is perhaps summed up in a quote from Chris Ferguson, who said that if he was teaching a game theory class, then Chen's book would be the only textbook on the reading list.
BEST-SELLER
And while Chen admits that not all of its sections are for everyone, he believes that even those new to game theory will find the book of value. "Although it is a game theory book, for newcomers there's a segment in there on optimal strategy for when to jam or fold when heads-up," says Chen.
There are also useful chapters on maximizing average profit, bankroll management and tournament play which should appeal to all.
And it seems that word is spreading. Despite a few mixed reviews on websites – with some saying that "the math is too complex" and that, "if this book is poker, I quit" – it is currently embedded in the ten best-selling poker books on both amazon.co.uk and amazon.com.
While Doyle Brunson later admitted that he regretted writing Super System because players adjusted to him, Chen says that apart from "getting called slightly more often," he really hasn't noticed anyone playing differently against him since the release of the book. But then of course, he doesn't play all that much!
Where he does play, in between the World Series, is online on PokerStars (screen name Bill Chen). Being so busy, he doesn't have much time to play tournaments, although he does occasionally play the Sunday majors.
"If I'm playing cash, it will usually be 100 / 200 Limit," he states. "I also play sit-and-go's, anything from $300 to $1,000."
One of my favorite games to play away from tournaments and online poker is Mississippi Stud. It is like regular Seven-card Stud, except the fourth and fifth cards are dealt at the same time, and seventh street is dealt face up, not face down."
And Chen is very happy to be a member of Team PokerStars. "My game has definitely improved since becoming a member of the team. The variety of people on this team is fantastic," he states.
"A good tip for any aspiring poker player is that you need a good peer group to help analyze your play and to help you think about hands independently from the results."
**CHEN FACT**
Bill's first boss both encouraged him to play poker and gave him time off to play in the WSOP.
