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Posts Tagged ‘tournament poker’

The Rebuy Tournament Game Plan
Michael Gracz
7th January 2009

Michael Gracz

Going into any rebuy tournament, you should know before the first cards are dealt how much money you?re willing to invest. Whether you?re playing with a single bullet (not planning to rebuy at all), enough money to rebuy 50 times, or somewhere in between, you should have a number in your mind. You need to know from the start how many risks you can afford to take, and play accordingly.

For me personally, I don?t believe in playing with a single bullet or with unlimited ammo. If you?re only planning on making one buy-in, then why not play a regular No-Limit Hold ?em tournament? Playing a rebuy tournament with only one bullet, you have no safety net and you?re giving the other players a significant edge over you because they?re able to exploit your reluctance to gamble.

If you?re pushing your stack in over and over, looking to accumulate chips and willing to go broke repeatedly, there?s a certain amount of upside to that, but I don?t believe it?s the best expected value play. Yes, that maniacal approach can sometimes get you into the post-rebuy period with a large chip stack, which of course provides an edge for the rest of the tournament. The problem is that if you?ve spent something like $25,000 in a $1,000 buy-in tournament, you have to finish that much higher in the money to come out ahead. A lot of times when you?re rebuying that many times, just making the money doesn?t cover how much you?ve invested into the tournament.

My personal rule of thumb is that I like to be willing to invest in the tournament in accordance to the payout amounts. I don?t ever want to get to the point where I?m investing significantly more money than the lowest money place pays. So in a $1,000 rebuy tournament, I?m willing to put about $8,000 into it. Some days, it?s just not your day, the cards aren?t falling your way and you have to leave and come back and play another day. It?s foolish to sit there and keep putting your stack in the middle when you have no edge and often times you?re up against a better hand.

When you?re playing this middle-of-the-road strategy, it?s important to identify the maniacal players from the outset because they?re going to be very dangerous, but they?re also going to provide you with your best opportunities to chip up. These players are actually the prime reason to play in a rebuy tournament, because you can feast on them. They?re going to open with all types of hands from all different positions, so you can call with marginal hands in position such as 10-9 suited, 8-7 suited, 3-4 suited, even one-gappers such as 6-8 suited. I also want to put a lot of pressure on this type of player before the flop if I have a big hand like Aces, Kings, or Queens, simply because this is the type of player who?s really willing to gamble and might just go ahead and ship the rest of his stack in right there.

In the last 10 to 15 minutes of the rebuy period, if you?ve been able to acquire a stack, this is a critical time in the tournament to play smart. If the hyper-aggressive players don?t have a lot of chips, they?re going to be pushing it all in almost every hand to give themselves a shot at a big stack heading into the post-rebuy period. If you have an edge in a given hand against these guys, use it, but you don?t want to gamble too much. Remember that you?ve acquired a stack now and it?s your goal to maintain that stack in and after the rebuy period.

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People often ask very specific questions about how to be a winning tournament player:

* How many chips am I supposed to have after the first two levels?
* Should I play a lot of hands early while the blinds are small, then tighten up later as the blinds increase?
* I seem to always finish on the bubble. Should I tighten up more as I get close to the money, or try to accumulate more chips early on?

Surprisingly, all three questions have the same answer:

Stop trying to force things to happen. Just concentrate on playing solid poker, and let the chips fall where they may.

In fact, that’s the best answer for almost any specific tournament question. Here is a more useful question:

How much of a difference is there between ring game strategy and tournament strategy?

The answer: Not as much as you think.

Before you worry about adjusting for tournaments, concentrate on adjusting for the other players. The most important skill in poker is the ability to react to a wide range of opponents playing a wide range of styles. Players who can do this will thrive in both ring games and tournaments alike.

Chris Ferguson

Many of the most costly tournament mistakes are the result of players over-adjusting for tournament play. Let’s look at these questions again:

How many chips am I supposed to have after the first two levels?

The short answer is: As many as you can get.

Play your cards. Play your opponents. Do not try to force action simply because you think you “need” to have a certain number of chips to have a chance of winning. You should be thinking about accumulating more chips, while trying to conserve the chips you already have. The more chips you have, the better your chances of winning. The fewer chips you have, the worse your chances.

Forget about reaching some magical number. There is no amount below which you have no shot, nor is there any amount above which you can be guaranteed a victory. A chip and a chair is enough to win, and enough to beat you. Getting fixated on a specific number is a good way to ensure failure. Next question:

Should I play a lot of hands early while the blinds are small, and then tighten up later as the blinds increase?

Your play shouldn’t change much as the tournament progresses. Gear your play to take maximum advantage of your opponents, irrespective of how far along the tournament is. Most players are too loose in the early stages of a tournament. Rather than become one of these players, adjust for their play instead:

* Attempt to steal the blinds less often
* Call more raises
* Re-raise more frequently

Likewise, when opponents typically tighten up later on, you should steal more often and be less inclined to get involved in opened pots. Again, this should be a reaction to the way your opponents are playing, not an action based on any particular stage of the tournament.

Last question: I seem to always finish on the bubble. Should I tighten up more as I get close to the money to avoid this, or try to accumulate more chips early on?

Usually the people asking this question are already tightening up too soon before reaching the money. In other words, they are over-adjusting to tournament play. Not only is it incorrect to tighten up considerably before you are two or three players from the money, doing so is the surest way to finish on or near the bubble. Just play your best, most aggressive game, and try not to let your stack dwindle to a point where you can’t protect your hand with a pre-flop all-in raise. If you do, your opponents will be getting the right pot odds to call, even with weak hands. Look for opportunities to make a move before you let this happen, even if it means raising with less than desirable holdings.

I talked about not adjusting for tournament play, answered three specific tournament questions, and stressed that there is little difference between tournament strategy and ring game strategy. Next, I would like to expand on that by answering a fourth question, and address the two situations where it’s right to deviate from simply playing your best game.

The fourth question: Surely the different payout structure between ring games and tournaments means something, doesn’t it?

Yes, tournaments differ from live action in that you are rewarded for how long you last, rather than for how many chips you accumulate.

In ring game poker, the chips you save by folding are just as valuable as the chips you win by playing. In tournament play, the chips you save are actually more valuable.

Consider a typical $1,000 buy-in tournament with 100 players, where first place is worth $40,000 out of a total prize pool of $100,000.

At the beginning of the tournament everyone has 1,000 in chips with a value of $1,000. The eventual winner will have 100,000 in chips and, in live action, would be entitled to a prize of $100,000. In a tournament, that same $100,000 is worth only $40,000, meaning that, at the end, each 1,000 in chips is only worth $400. As your stack grows, the value of each additional chip decreases, which means you want to be slightly more averse to taking unnecessary risks in tournaments than you might be in live action. (And if you are at all averse to taking risks in live action, you’re probably playing over your bankroll.) Don’t overcompensate for tournament play. Most people would be better off making no changes at all, rather than the changes that they do make.

Having said all this, there are two cases where adjusting will help:

1. When you are just out of the money.

If you are short stacked, you need to be very careful when committing your chips, especially with a call.

If you have a large stack, look for opportunities to push the short and medium stacks around – especially the medium stacks. These players will be a lot less likely to want a confrontation with you, and it should be open season on their blinds and antes.

If you have a medium or small stack, you need to be a bit more careful. Remember, though, that the other players – even the larger stacks – don’t want to tangle with you. They just want to steal from you without a fight. Be prepared to push them around a little, and even to push back occasionally when they try to bully you. This often turns into a game of Chicken between the bigger stacks to determine which large stack will let the other steal most of the blinds.

2. At the final table.

Very little adjustment is necessary until you are one player away from the final table. Here, again, you should tighten up slightly because this is the next point where the payout structure handsomely rewards outlasting other players.

Look for opportunities to push around the other players, and the smaller stacks in particular. This is good advice throughout the final table.

What about heads up?

There are no more tournament adjustments necessary. You are essentially playing a winner take all freeze-out for the difference between first and second place.

Remember: Tournament adjustments should be subtle. It is rare that your play would be dramatically different in a tournament. When in doubt, just play your best game. And if you never adjust from that, you’ve got a great shot of winning, no matter what game you’re playing.

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