Harrah's has solidified the schedule for the 2008 World Series of Poker. The WSOP will run May 30-July 16 and will again feature 55 events at the Rio All-Suite Resort and Casino.

The second half of 2007 was jam-packed with enough major poker tournaments to quench any poker player's thirst for action. With events taking place all around the world, professionals could potentially rack up more frequent-flyer miles than an international businessman. Big buy-in tournaments were spread from Manila to New Jersey, and were filled to the brim with players looking for that score of a lifetime.

In early 1930, with his esoteric skills no longer in demand and the unemployment rate spiraling toward 35 percent, Herb Yardley couldn't find a job. "I felt very small in my rags and could scarcely open my mouth," he said later. "Poverty had done strange things to me, though only a few months before I had stood at the top of my profession. Now I suddenly found myself with no voice, no matter, no confidence." He probably didn't even consider trying to support his wife and son at the poker table. The games were either too big or too small, and in the bigger ones he could hardly count on a fair shuffle. On top of that, gambling was illegal in nearly all jurisdictions. Playing square poker as a regular job would have been almost unthinkable.

In this issue, we honor one of the game's greatest gentlemen, Chip Reese. Reese passed away unexpectedly on Dec. 4. In honor of his legacy, Card Player has collected memories from his family and friends, and we're honored to share this collection with you in this issue. Fittingly, as we go to press, the World Series of Poker announced that future winners of the $50,000 buy-in H.O.R.S.E. event will receive a trophy named after Reese, the winner of this inaugural event in 2006. Rest in peace, Chip … you were the greatest.

Recently I played on the hit show Poker After Dark, which is shown on NBC six nights a week at 2 a.m. We were filming for 2008, and I won the $120,000 first-place prize in my first appearance. I was now making my second appearance of the season. This show was titled "Hecklers Week," and featured Mike "The Mouth" Matusow, Gavin Smith, Bobby Bellande (the poker player on Survivor), Shawn "The Sheik" Sheikhan, Sam Grizzle, and I. One thing was certain about this lineup: It was loud!

Editor's note: With the passing of Chip Reese, and the friendship that he, Doyle Brunson, and Todd Brunson shared, Todd has chosen to honor Chip with this column, a slightly revised version of his column that appeared in Card Player in January 2007.

Poker is a game of decisions. Make better decisions than your opponents and you'll get the best of them. But the game isn't just about your own decisions - it's also about the decisions that your opponents have made or will make.

Chris Ferguson won more than $20,000 on Full Tilt Poker. I hear you saying, "So what? Players win 10 times that every day." The amazing thing about his feat is that he did it by starting from nothing. That's right, from zero. He did it by following simple rules for managing his bankroll. Well, OK, being a great player didn't hurt, either.

In poker, "position" refers to whether you act before or after your opponent. Acting first reveals information, so it is harmful to your chances. However, the degree of harm is far from uniform across the full spectrum of hands. So-so hands are hurt more than hands that normally have a clear strategic plan, such as monsters or junk. Flop a set, and you can usually bet and keep betting. If you miss the flop completely, how bad can it be to check and fold? Of all the various hand categories, drawing hands are hurt more by bad position - and helped more by good position - than any other hand type. Let's take a closer look at some concrete situations after the flop with drawing hands, and see the interplay between a drawing hand and a made hand.