Fixed Limit Holdem Tournament Strategy
2021年10月22日Register here: http://gg.gg/waiwk
In this lesson we will direct our focus to strategies for the turn. If you have reached a turn decision then you haven’t folded pre-flop or on the flop and now the bets double so there is still time to get away from a marginal hand without too much damage to your stack. With 86% of your final hand realized and the bets doubling, you should fold frequently on the turn.
Baduci Poker Rules Baduci Strategy Any fixed limit or FL poker game means that players are not allowed to go all-in or bet everything on a given hand and this includes the game of badugi. Basically, players are only allowed to bet in fixed increments of the stakes set on a particular table. A fixed-limit game will have a bet of a fixed amount while a no-limit game will have a bet of a variable amount depending on the betting player. Players can choose between a fixed-limit and a no-limit in between games. The strategy to remember when playing a cash game is to be mindful of the game being played will be changed from a no-limit to.
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Limit poker is a variation of the popular card game where the betting limit is set. This can apply to cash games as well as tournaments but the most popular option is Limit Texas Hold’em ring. Fixed Limit HoldEm is a Texas Holdem format that has a preset amount for both betting and raising. For example, if the amount for a fixed limit Texas HoldEm is $5 and $10, then it means that the players have to bet and raise only $5 for the first and second betting rounds. This is a discussion on 2nd day tournament - low stack within the online poker forums, in the Tournament Poker section; Yesterday I went through the first day of a two-day tournament.
You may well opine that my approach to limit hold’em appears to be very tight and that would be an accurate assessment. A tight/aggressive approach to this game will pay the dividends while a weak/tight approach would be analogous to bankroll suicide. Taking a hand too far without the correct price in limit hold’em is a formula for losing. Let’s move on to what many believe to be the most difficult street to play, the turn.
The reason why the turn is so critical is that the stakes are doubled and more often than not if you don’t fold on the turn you will be calling on the river thereby committing to a least two double bets. One exception would be holding a busted straight or flush that does not warrant a bluff on the end. Having reached the turn you will be holding one of the following type hands.
*The best hand
*A draw
*A contender with outs
*JunkThe Best Hand
You either know you have the best hand because you are holding the current nuts or you believe you hold the best hand because you’re holding Aces, for example, and the board is not coordinated nor does it appear to have helped anyone else. If you hold the nuts in position then you should be betting or raising. Straight forward play is the default action of solid limit players. With a few exceptions such as holding quads, you should not succumb to what Mike Caro has dubbed FPS – Fancy Play Syndrome. If, however, you hold the nuts not in position, then you have a more complex decision to make. You need to assess just how strong your hand is and if someone else will venture a bet if you check. The most annoying bad result of trying to be tricky is checking with the intention of check-raising only to have everyone check behind you. The icing on that cake is when a free card winds up beating you when that player may have folded to your bet. When holding what you believe is the best hand and are unsure of exactly what to do… bet! A Draw
As emphasized earlier, winning limit hold’em is driven by the math. If you’re on a draw know your outs and odds, including implied odds to determine if it is correct to proceed. Bucking the odds by continuing in a hand without the right price is a major leak committed by less experienced players who are flying by the seat of their pants. Remember, there is no shame in folding. The game does not reward the number of pots won at the end of a session but rather the number of chips accumulated. When counting your outs, make sure to focus to “clean” outs versus “tainted” outs. Clean outs are not expected to help anyone else. An example of this situation would be drawing to an open ended straight with one card to come and there are two of a suit on the board. It should be obvious that in this case you have six clean outs and two tainted outs. If this is not obvious to you, think about it until it is before proceeding.
In todays limit games it is not unusual for players to take a card off on the flop as it is still a single bet. If you’re in position, especially against a single opponent who checks, fire a double bet at him to take down the pot. If he instead raises, the vast majority of the time expect that he holds the goods and fold.A Contender with Outs
These hands are tough to play as you’re not quite sure where you stand but fear you are second best. A perfect example would be holding pocket Jacks when an overcard flops. It is in this predicament that many of the factors such as position, number of active players, knowledge of your opponents and understanding your own table image will come into play. There is no question that if you never lay down Jacks when an overcard appears on the board and an opponent keeps betting into you, then you have a big leak in your game. On the other hand, if every time a scare card appears you meekly retire you also have a big leak in your game. There is an old poker expression that states, “There is not a sniper behind every tree”. With that expression in mind, when the other factors favor the play, use that scare card against your opponent(s). Remember if the card looks scary to you, it may well be terrifying to an opponent. If the only time you show courage is when you hold the nuts you will become so predictable as to be exploitable.Junk
You might be thinking how a solid player has arrived at the turn with nothing but junk. That would occur, as one example, when in position and checked to by a single opponent you bluffed at the pot and received a call. Now if a blank falls on the turn and your single opponent checks again, you should normally follow through and bet again. Remember, many opponents will take off a card on the flop but when the bets double they become hesitant to continue unless the turn improved their hand. If you are not prepared to fire the second barrel then you should not have fired the first one. I cannot stress enough the fact that to make informed decisions you need to consider multiple factors. In this last situation, knowledge of your opponent is critical. While this might sound morally wrong, exploiting the weak in poker is the surest way to enhance your bankroll.Conclusion
The turn in fixed limit is certainly a defining moment as the stakes become doubled so errors in judgment become magnified. Those players who regularly “take off a card” on the flop with modest holdings for a single bet need to come to grips with the doubling stakes on the turn and then again on the river. Solid, experienced opponents know this fact well and use it to their advantage by exerting pressure through bets and raises to make your turn decisions even tougher.
What can be learned from arriving at the turn with a weak, vulnerable holding can be summed up in the axiom of… the first mistake is the worst mistake. If you accept the tight/aggressive formula as the best path for success in limit play, making that first mistake speaks to the tight part of the formula. I’m not suggesting that you never look at a flop with hopes of improving or mucking, just make sure that you have the discipline to muck on the turn when it appears you are running up hill.
A word of caution to this advice of mucking on the turn and that is to not become so predictable as to become exploitable. You need to know how your opponents play to assess whether they are playing you or their cards. On occasion you may need to check-raise an opponent on the turn to send the message that you’re not a weak, passive player who can be manipulated.Related Lessons
By Tom ’TIME’ Leonard
Tom has been writing about poker since 1994 and has played across the USA for over 40 years, playing every game in almost every card room in Atlantic City, California and Las Vegas.Share:
In the first article I ever wrote, I introduced “L” — the amount of chips required to play a hand of limit poker from start to finish — and claimed it would be a pivotal tool in tournament stack management.
Now we move on to the fun stuff — strategy in specific games, starting with limit hold’em. Many of the ideas here apply to other games as well, but I begin here as it has the fewest variables to analyze. In limit hold’em, L is 3.5 big bets, or seven big blinds.
In somewhat backwards fashion, I’m waiting until next time to discuss more general limit hold’em tournament concepts. Today, I want to write about avoiding variance deep in tournaments. Variance can be a vague word, so for this article, I would define it as “bets and raises with little edge and no fold equity, especially when for a significant portion of your stack.”Fixed Limit Holdem Tournament Strategy Games
When to Minimize Variance
The two most crucial points to minimize variance are on the bubble and at the final table. It’s also relevant to a lesser degree as the bubble approaches and shortly after it bursts. These are where the pay jumps are the largest, so coin flips are the most painful.
In addition to what stage of the tournament it is, it’s also pivotal to consider how many L you have. In no-limit hold’em tournaments, you are concerned with relative stack size — your stack compared to others at the table. Even with above average chips, it is unprofitable to get in marginal confrontations when covered. In limit hold’em tournaments, what matters is actual stack size. With more than five L, it’s not dangerous to battle a big stack, as losing a hand will only cost one of those Ls.
How to Minimize Variance
Fold the bottom of your open-raising range.
When I am looking to negate variance, I open fold minimally profitable hands such as A-7 offsuit in the hijack or K-9 suited in early position. Raising a hand returning one percent return on investment (ROI) in chips loses money because of the fluctuation undertaken to squeeze it out.
This is a basic tournament idea, but deserves emphasis in limit hold’em because of the game’s structure. In no-limit hold’em, a preflop raise is a low cost way to acquire chips; you can elect to fold to a three-bet. In limit hold’em, because of the immense odds you are getting, you must see a flop, often have to peel it, and sometimes have to make turn and river calls. If we consider limit and no-limit hold’em hands having the same return, the limit hold’em one is exposed to extra variance.
For these reasons, when evaluating marginal situations in a tournament, my friends and I often refer to the Brenden Taylor rule of limit poker, named after the 2010 World Series of Poker limit hold’em bracelet winner — “It’s OK to fold preflop, it’s not OK to fold postflop.”
If opponents notice tight play, they may make an attempt to raise lighter through you, especially on your big blind. Therefore, your three-betting and blind defense ranges have to account for this. If opponents are playing particularly savage, you may end up playing even looser than your normal standards, despite not wanting to gamble. These considerations mean you still have “play poker,” but be aware that opening a hand with a small win rate is not profitable.
Don’t Bet Without Fold Equity
Several years ago, the limit hold’em landscape changed. Players stopped reraising when their range was too small, such as when facing a three-bet as a preflop raiser. The primary reason was for balance. With so few hands which could be reraised for value, it was superior to call everything and be more difficult to read postflop.
In tournaments, this serves an additional purpose — minimizing the percentage of your stack at risk. Since opponents never fold for another bet in limit, a raise increases the amount you have riding on a hand. This increased gamble dwarfs the additional equity that could be eeked out of an extra bet. Calling also creates smaller pots postflop, incentivizing all players to bluff and call down less. The smaller the pot is, the less it is worth fighting over, leading to reduced stack fluctuation for everyone involved.
An Example from my 2013 World Series of Poker
I applied these principles during three days of battle at the $5,000 WSOP limit hold’em event this year. With 18 players cashing, I had an above average stack with almost seven L (116,000 at 2,500-5,000 blinds) with 27 remaining. I proceeded to lose six sizeable pots, but saved a bet on four of them, leaving me the shortest stack, but not eliminated on the bubble.
Once in the money, I navigated my way to the final table despite never having more than seven L. My tools were conservative preflop folds, bluffs to capitalize on a tight image, and some all-in luck. The most notable fold was passing on A-Q offsuit versus an under-the-gun raise on the hand which eliminated Steve Landfish in tenth place, and punched my ticket to the final table. There, I was seated to the right of Domenico de Notaristefani, a loose, tough player who entered among the leaders in chips.
I estimated he would not fold more than ten percent of his big blinds if I raised the small blind and would not be surprised if he was never folding. As such, I was completing small blinds instead of raising. If he was never folding, I was unnecessarily risking a small bet and inflating the pot by two small bets, a one hundred percent increase that I’d be forced to zealously fight over.
There are certainly tradeoffs to this strategy. I am not getting value from my strong hands, whereas Notaristefani still has the option to do so. Also, the times my opponent would have folded, my limp allows him to play a free hand I could’ve picked up for free.
Negating variance does not always result in taking a conservative line. When opponents fold, there is zero variance, you take down what is in the pot. If your opponent is capable of folding, it is better to raise, both for value and to avoid the variance that comes when the opponent would have gotten a free look.
My tournament run ended in seventh place for $31,264. The last leg of the tournament was utterly an exercise in limit hold’em stack management. I never had more than ten times starting stack, so felt fortunate to not only cash, but sneak into my second WSOP final table. I hadn’t been in the Thunderdome for two years — it was good to be back.
I’ve written about avoiding variance as a shortstack. Now I’d like to cover a variety of nuances on a broader scale.
Limit Holdem Tournaments Versus Cash Games
Structurally, limit holdem tournaments are very similar to their cash-game sisters. The only notable differences are nothing being raked out of the pot (applies to all tournaments) and the small blind not always being half of the big blind because of level increases. In most live tournaments, there will be levels in which the small blind will be between one-third and two-thirds of the big blind.
Adjusting for Small Blind Size
Accounting for a different-sized blind is straightforward at first glance. When smaller, you should play tighter, when larger, you should play looser. However, there are subtle differences to consider. In late position, the change is a much larger consideration.
When you raise in early position, how much you win or lose in the long run is based on how your hand interacts with the entire table, resulting in more multiway pots. When you raise in late position, a larger percentage of your winrate is stealing the blinds and navigating heads-up pots where you’ve chopped up the small blind’s dead money two ways. Therefore, it’s not worth altering your range much in early position, but more crucial to adapt as it folds to you towards the button.
It’s also worth considering what hands you should become looser or tighter with. This partially depends on the small blind itself. If she adjusts by three-betting more, I add hands with showdown value to my range to prepare for heads-up confrontations. If she tends to call, I would rather increase my hand density with high implied-odds holdings such as suited connectors. Open-raising hands such as A-3 offsuit from the cutoff is much less attractive when the pot is frequently going to be three-handed.
When You Are the Small Blind
When the small blind is smaller, the obvious adjustment is to play tighter. When it is bigger, you should likewise play looser, but should that be via calling or reraising more? Many players adapt by flatting, even though they typically utilize a three-bet or fold strategy in other scenarios.
I prefer to widen my three-betting range and never call. I don’t think its horrendous to cold-call, but the immense odds I’m offering the big blind and how unbalanced my range would be make me cringe. It would be difficult to construct calling and reraising ranges which both have a variety of hands, so I avoid that problem by three-betting everything. There are situations that make calling more palatable, such as if there is a weak player in the big blind or if you heavily need to avoid variance. However, even in these situations, it’s worth considering the free information you are presenting to your opponents as the flop comes.
Play In Limit Holdem Tournaments
The most defining characteristic of limit hold’em tournaments is that players are much tighter than their cash-game selves. As levels increase, players become increasingly concerned with survival, making the money, pay jumps, and their final table prospects.
Unlike no-limit, or the stud games, there are no antes, so there are less incentives to contend for each pot. This results in more correct play, as rounders tend to be too loose in limit hold’em cash games, without amazing postflop skills to justify it. As professional Jimmy Fricke deduces, “while in no-limit hold’em tournaments, you are rewarded for your opponents playing
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In this lesson we will direct our focus to strategies for the turn. If you have reached a turn decision then you haven’t folded pre-flop or on the flop and now the bets double so there is still time to get away from a marginal hand without too much damage to your stack. With 86% of your final hand realized and the bets doubling, you should fold frequently on the turn.
Baduci Poker Rules Baduci Strategy Any fixed limit or FL poker game means that players are not allowed to go all-in or bet everything on a given hand and this includes the game of badugi. Basically, players are only allowed to bet in fixed increments of the stakes set on a particular table. A fixed-limit game will have a bet of a fixed amount while a no-limit game will have a bet of a variable amount depending on the betting player. Players can choose between a fixed-limit and a no-limit in between games. The strategy to remember when playing a cash game is to be mindful of the game being played will be changed from a no-limit to.
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Limit poker is a variation of the popular card game where the betting limit is set. This can apply to cash games as well as tournaments but the most popular option is Limit Texas Hold’em ring. Fixed Limit HoldEm is a Texas Holdem format that has a preset amount for both betting and raising. For example, if the amount for a fixed limit Texas HoldEm is $5 and $10, then it means that the players have to bet and raise only $5 for the first and second betting rounds. This is a discussion on 2nd day tournament - low stack within the online poker forums, in the Tournament Poker section; Yesterday I went through the first day of a two-day tournament.
You may well opine that my approach to limit hold’em appears to be very tight and that would be an accurate assessment. A tight/aggressive approach to this game will pay the dividends while a weak/tight approach would be analogous to bankroll suicide. Taking a hand too far without the correct price in limit hold’em is a formula for losing. Let’s move on to what many believe to be the most difficult street to play, the turn.
The reason why the turn is so critical is that the stakes are doubled and more often than not if you don’t fold on the turn you will be calling on the river thereby committing to a least two double bets. One exception would be holding a busted straight or flush that does not warrant a bluff on the end. Having reached the turn you will be holding one of the following type hands.
*The best hand
*A draw
*A contender with outs
*JunkThe Best Hand
You either know you have the best hand because you are holding the current nuts or you believe you hold the best hand because you’re holding Aces, for example, and the board is not coordinated nor does it appear to have helped anyone else. If you hold the nuts in position then you should be betting or raising. Straight forward play is the default action of solid limit players. With a few exceptions such as holding quads, you should not succumb to what Mike Caro has dubbed FPS – Fancy Play Syndrome. If, however, you hold the nuts not in position, then you have a more complex decision to make. You need to assess just how strong your hand is and if someone else will venture a bet if you check. The most annoying bad result of trying to be tricky is checking with the intention of check-raising only to have everyone check behind you. The icing on that cake is when a free card winds up beating you when that player may have folded to your bet. When holding what you believe is the best hand and are unsure of exactly what to do… bet! A Draw
As emphasized earlier, winning limit hold’em is driven by the math. If you’re on a draw know your outs and odds, including implied odds to determine if it is correct to proceed. Bucking the odds by continuing in a hand without the right price is a major leak committed by less experienced players who are flying by the seat of their pants. Remember, there is no shame in folding. The game does not reward the number of pots won at the end of a session but rather the number of chips accumulated. When counting your outs, make sure to focus to “clean” outs versus “tainted” outs. Clean outs are not expected to help anyone else. An example of this situation would be drawing to an open ended straight with one card to come and there are two of a suit on the board. It should be obvious that in this case you have six clean outs and two tainted outs. If this is not obvious to you, think about it until it is before proceeding.
In todays limit games it is not unusual for players to take a card off on the flop as it is still a single bet. If you’re in position, especially against a single opponent who checks, fire a double bet at him to take down the pot. If he instead raises, the vast majority of the time expect that he holds the goods and fold.A Contender with Outs
These hands are tough to play as you’re not quite sure where you stand but fear you are second best. A perfect example would be holding pocket Jacks when an overcard flops. It is in this predicament that many of the factors such as position, number of active players, knowledge of your opponents and understanding your own table image will come into play. There is no question that if you never lay down Jacks when an overcard appears on the board and an opponent keeps betting into you, then you have a big leak in your game. On the other hand, if every time a scare card appears you meekly retire you also have a big leak in your game. There is an old poker expression that states, “There is not a sniper behind every tree”. With that expression in mind, when the other factors favor the play, use that scare card against your opponent(s). Remember if the card looks scary to you, it may well be terrifying to an opponent. If the only time you show courage is when you hold the nuts you will become so predictable as to be exploitable.Junk
You might be thinking how a solid player has arrived at the turn with nothing but junk. That would occur, as one example, when in position and checked to by a single opponent you bluffed at the pot and received a call. Now if a blank falls on the turn and your single opponent checks again, you should normally follow through and bet again. Remember, many opponents will take off a card on the flop but when the bets double they become hesitant to continue unless the turn improved their hand. If you are not prepared to fire the second barrel then you should not have fired the first one. I cannot stress enough the fact that to make informed decisions you need to consider multiple factors. In this last situation, knowledge of your opponent is critical. While this might sound morally wrong, exploiting the weak in poker is the surest way to enhance your bankroll.Conclusion
The turn in fixed limit is certainly a defining moment as the stakes become doubled so errors in judgment become magnified. Those players who regularly “take off a card” on the flop with modest holdings for a single bet need to come to grips with the doubling stakes on the turn and then again on the river. Solid, experienced opponents know this fact well and use it to their advantage by exerting pressure through bets and raises to make your turn decisions even tougher.
What can be learned from arriving at the turn with a weak, vulnerable holding can be summed up in the axiom of… the first mistake is the worst mistake. If you accept the tight/aggressive formula as the best path for success in limit play, making that first mistake speaks to the tight part of the formula. I’m not suggesting that you never look at a flop with hopes of improving or mucking, just make sure that you have the discipline to muck on the turn when it appears you are running up hill.
A word of caution to this advice of mucking on the turn and that is to not become so predictable as to become exploitable. You need to know how your opponents play to assess whether they are playing you or their cards. On occasion you may need to check-raise an opponent on the turn to send the message that you’re not a weak, passive player who can be manipulated.Related Lessons
By Tom ’TIME’ Leonard
Tom has been writing about poker since 1994 and has played across the USA for over 40 years, playing every game in almost every card room in Atlantic City, California and Las Vegas.Share:
In the first article I ever wrote, I introduced “L” — the amount of chips required to play a hand of limit poker from start to finish — and claimed it would be a pivotal tool in tournament stack management.
Now we move on to the fun stuff — strategy in specific games, starting with limit hold’em. Many of the ideas here apply to other games as well, but I begin here as it has the fewest variables to analyze. In limit hold’em, L is 3.5 big bets, or seven big blinds.
In somewhat backwards fashion, I’m waiting until next time to discuss more general limit hold’em tournament concepts. Today, I want to write about avoiding variance deep in tournaments. Variance can be a vague word, so for this article, I would define it as “bets and raises with little edge and no fold equity, especially when for a significant portion of your stack.”Fixed Limit Holdem Tournament Strategy Games
When to Minimize Variance
The two most crucial points to minimize variance are on the bubble and at the final table. It’s also relevant to a lesser degree as the bubble approaches and shortly after it bursts. These are where the pay jumps are the largest, so coin flips are the most painful.
In addition to what stage of the tournament it is, it’s also pivotal to consider how many L you have. In no-limit hold’em tournaments, you are concerned with relative stack size — your stack compared to others at the table. Even with above average chips, it is unprofitable to get in marginal confrontations when covered. In limit hold’em tournaments, what matters is actual stack size. With more than five L, it’s not dangerous to battle a big stack, as losing a hand will only cost one of those Ls.
How to Minimize Variance
Fold the bottom of your open-raising range.
When I am looking to negate variance, I open fold minimally profitable hands such as A-7 offsuit in the hijack or K-9 suited in early position. Raising a hand returning one percent return on investment (ROI) in chips loses money because of the fluctuation undertaken to squeeze it out.
This is a basic tournament idea, but deserves emphasis in limit hold’em because of the game’s structure. In no-limit hold’em, a preflop raise is a low cost way to acquire chips; you can elect to fold to a three-bet. In limit hold’em, because of the immense odds you are getting, you must see a flop, often have to peel it, and sometimes have to make turn and river calls. If we consider limit and no-limit hold’em hands having the same return, the limit hold’em one is exposed to extra variance.
For these reasons, when evaluating marginal situations in a tournament, my friends and I often refer to the Brenden Taylor rule of limit poker, named after the 2010 World Series of Poker limit hold’em bracelet winner — “It’s OK to fold preflop, it’s not OK to fold postflop.”
If opponents notice tight play, they may make an attempt to raise lighter through you, especially on your big blind. Therefore, your three-betting and blind defense ranges have to account for this. If opponents are playing particularly savage, you may end up playing even looser than your normal standards, despite not wanting to gamble. These considerations mean you still have “play poker,” but be aware that opening a hand with a small win rate is not profitable.
Don’t Bet Without Fold Equity
Several years ago, the limit hold’em landscape changed. Players stopped reraising when their range was too small, such as when facing a three-bet as a preflop raiser. The primary reason was for balance. With so few hands which could be reraised for value, it was superior to call everything and be more difficult to read postflop.
In tournaments, this serves an additional purpose — minimizing the percentage of your stack at risk. Since opponents never fold for another bet in limit, a raise increases the amount you have riding on a hand. This increased gamble dwarfs the additional equity that could be eeked out of an extra bet. Calling also creates smaller pots postflop, incentivizing all players to bluff and call down less. The smaller the pot is, the less it is worth fighting over, leading to reduced stack fluctuation for everyone involved.
An Example from my 2013 World Series of Poker
I applied these principles during three days of battle at the $5,000 WSOP limit hold’em event this year. With 18 players cashing, I had an above average stack with almost seven L (116,000 at 2,500-5,000 blinds) with 27 remaining. I proceeded to lose six sizeable pots, but saved a bet on four of them, leaving me the shortest stack, but not eliminated on the bubble.
Once in the money, I navigated my way to the final table despite never having more than seven L. My tools were conservative preflop folds, bluffs to capitalize on a tight image, and some all-in luck. The most notable fold was passing on A-Q offsuit versus an under-the-gun raise on the hand which eliminated Steve Landfish in tenth place, and punched my ticket to the final table. There, I was seated to the right of Domenico de Notaristefani, a loose, tough player who entered among the leaders in chips.
I estimated he would not fold more than ten percent of his big blinds if I raised the small blind and would not be surprised if he was never folding. As such, I was completing small blinds instead of raising. If he was never folding, I was unnecessarily risking a small bet and inflating the pot by two small bets, a one hundred percent increase that I’d be forced to zealously fight over.
There are certainly tradeoffs to this strategy. I am not getting value from my strong hands, whereas Notaristefani still has the option to do so. Also, the times my opponent would have folded, my limp allows him to play a free hand I could’ve picked up for free.
Negating variance does not always result in taking a conservative line. When opponents fold, there is zero variance, you take down what is in the pot. If your opponent is capable of folding, it is better to raise, both for value and to avoid the variance that comes when the opponent would have gotten a free look.
My tournament run ended in seventh place for $31,264. The last leg of the tournament was utterly an exercise in limit hold’em stack management. I never had more than ten times starting stack, so felt fortunate to not only cash, but sneak into my second WSOP final table. I hadn’t been in the Thunderdome for two years — it was good to be back.
I’ve written about avoiding variance as a shortstack. Now I’d like to cover a variety of nuances on a broader scale.
Limit Holdem Tournaments Versus Cash Games
Structurally, limit holdem tournaments are very similar to their cash-game sisters. The only notable differences are nothing being raked out of the pot (applies to all tournaments) and the small blind not always being half of the big blind because of level increases. In most live tournaments, there will be levels in which the small blind will be between one-third and two-thirds of the big blind.
Adjusting for Small Blind Size
Accounting for a different-sized blind is straightforward at first glance. When smaller, you should play tighter, when larger, you should play looser. However, there are subtle differences to consider. In late position, the change is a much larger consideration.
When you raise in early position, how much you win or lose in the long run is based on how your hand interacts with the entire table, resulting in more multiway pots. When you raise in late position, a larger percentage of your winrate is stealing the blinds and navigating heads-up pots where you’ve chopped up the small blind’s dead money two ways. Therefore, it’s not worth altering your range much in early position, but more crucial to adapt as it folds to you towards the button.
It’s also worth considering what hands you should become looser or tighter with. This partially depends on the small blind itself. If she adjusts by three-betting more, I add hands with showdown value to my range to prepare for heads-up confrontations. If she tends to call, I would rather increase my hand density with high implied-odds holdings such as suited connectors. Open-raising hands such as A-3 offsuit from the cutoff is much less attractive when the pot is frequently going to be three-handed.
When You Are the Small Blind
When the small blind is smaller, the obvious adjustment is to play tighter. When it is bigger, you should likewise play looser, but should that be via calling or reraising more? Many players adapt by flatting, even though they typically utilize a three-bet or fold strategy in other scenarios.
I prefer to widen my three-betting range and never call. I don’t think its horrendous to cold-call, but the immense odds I’m offering the big blind and how unbalanced my range would be make me cringe. It would be difficult to construct calling and reraising ranges which both have a variety of hands, so I avoid that problem by three-betting everything. There are situations that make calling more palatable, such as if there is a weak player in the big blind or if you heavily need to avoid variance. However, even in these situations, it’s worth considering the free information you are presenting to your opponents as the flop comes.
Play In Limit Holdem Tournaments
The most defining characteristic of limit hold’em tournaments is that players are much tighter than their cash-game selves. As levels increase, players become increasingly concerned with survival, making the money, pay jumps, and their final table prospects.
Unlike no-limit, or the stud games, there are no antes, so there are less incentives to contend for each pot. This results in more correct play, as rounders tend to be too loose in limit hold’em cash games, without amazing postflop skills to justify it. As professional Jimmy Fricke deduces, “while in no-limit hold’em tournaments, you are rewarded for your opponents playing
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