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I actually think that Bodog is a great place to start playing. The structure there is great, and the rake is reasonable. I think it's wise to single table, or 2 table while you're learning. Anything more is just a mistake.
Important things for you to consider before you embark on your venture. Are you trying to learn how to be a winner at poker, or are you trying to learn how to be a winner at SNGs? This decision is mutually exclusive, assuming you're just learning.
If you are trying to learn how to be a winner or get good at playing poker, my advice is to start out at the micro limits (like .05/.10) and read SSHE somewhere between 2 and 5 times. If you study, and you have the capability to learn, then you can become a decent limit player (2/4 or better) in under 6 months by playing about 10,000 hands a month (that's about 20 hours a week if you 2 table). I must emphasize that you must read SSHE many many times.
If you think playing limit is like watching paint dry, especially at the micro levels (think I'm biased?), then SNGs are a good place to begin playing poker. The primary benefits to playing sngs are it's a set time frame of play, if you are a slightly winning play at the lower limits, variance is likely to be less painful, and they are more fun. I want to emphasize tho, that if you want to be a good sng player, it's not the same as understanding poker theory. SNG encompasses only a small subset of poker, and in specifics, a subset of tournament poker. When you learn to identify where the most EV comes from in the game (hint, it's not in the early levels), then you can really spend the time to focus on the proper areas of study. Becoming a very good sng player does not mean you are a good poker player. But, becoming a very good sng player can build a nice bankroll, so that when you decide to play cash games (true poker), you'll have enough of a cushion to fall back on.
BTW, in theory, you do not have a big enough bankroll to play the $5.50's. It would be smarter to commit ~ $150-200 to this. Then follow bankroll guidelines for the rest of your learning curve.
Good luck at the tables.
PS - here's a big clue on how to get to the highest limits fast. Rather than learning how to multi-table (like 8 tabling the $22s), just stick to 2 tabling. Get really good, and follow bankroll guidelines. You'll move up the ranks faster, learn faster, and be a happier camper with regards to your skill level (but you won't make as much money in the short term, but you will make way more in the medium term, as multi-tabling severely slows the learning curve). After you're a winning player at say the $109s or $215s, then drop back down to the $22s (I think one of the biggest jumps in skill level are between the 22s and 33s, just like one of the biggest jumps in skill level at online limit is between 2/4 and 3/6) and then learn how to 8 table.
SSHE = Small Stakes Hold'em by Ed Miller
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