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Part
IV: Online Tournament Play Explained+Strategy Guide
Tournaments are one of
the richest, most interesting, and exciting aspects of online poker.
The variety of online tournaments is awesome-covering a big range of
different types and entry fee levels. In this section I'm going
to give a full description of all the various online options for
tournament play, and then follow that with my own strategy/analysis
guide for playing 250+ player guaranteed tournaments. If you are
already familiar with all the different types of tournaments, you may
want to skip the first part of this section, and just go down to the
analysis and strategy guide.
There are of course both Limit
and No Limit type tournaments, as well as Pot Limit. First let
me say that No Limit tournaments are predominant. Second, a Pot
Limit game allows you to make a maximum bet which is equal to the
amount that is currently in the pot. Pot Limit is a kind of
cross between Limit and No Limit, and remains the least popular form
of Texas Hold Em.
After No Limit, Limit, and Pot Limit,
tournament types can be further broken down into regular tournaments,
guarantees, turbos, satellites, add-on/rebuys, bounties, sit-and-goes,
and freerolls.
A Regular tournament is one in which there is a
certain entry fee(of which the house takes a small piece) and the
prize structure is formed around however many players happen to join
the tournament. If for example the entry is 22$, the house takes
2$, and if 20 people have joined, then you have 400$ to divide among
the top few winners.
A Guarantee on the other hand has a
minimum guaranteed prize pool, which might be as little as 1,000$ all
the way up to 1,000,000$. No matter how many people join, even
if the player's entry fees don't equal the amount of the guarantee,
(they almost always do) the minimum promised amount of the guarantee
is going to be given away. As a general rule the top 10 to 12
percent of finishing players get paid at least something. Also,
if the players combined entry fees exceed the guaranteed amount, the
extra is added to the prized pool. Guarantees tend to attract
more players than regular tournaments, due to the guaranteed prize
pool, and they are generally more lively and exciting to play,
especially the ones with the large payouts.
Satellites are
tournaments which you play in order to win an entry fee into a larger,
more expensive tournament. The entry fees for tournaments with
very large payouts, like a 200,000$ guaranteed, might be too high for
some players. So for 20$ they play a tournament which gives them
a chance to win an entry into a tournament which would otherwise cost
them 220$ to enter.
A Super-Satellite is a satellite for
a satellite. You are playing to win an entry into a tournament
in which you have to win again in order to win the entry into the the
third tournament which will actually pay you money.
Super-satellites are therefore usually very cheap.
A Rebuy/Add-On
tournament is one in which you can rebuy for the same amount that you
payed to enter the tournament in the first place, in case you lose all
your chips. You are usually allowed to rebuy an unlimited number
of times during the first hour of play. After that you are
offered the option to buy a single add-on for the same initial entry
fee, and then all rebuying and adding on is over with. It runs
like a normal tournament after that. Rebuy tournaments can wind
up becoming very expensive in a hurry, as it would seem. Many of
them are offered for a low entry fee but you really need 3x the entry
fee to be competitive in the tournament. Also very cheap rebuy
tournaments feature a lot of loose aggressive action due to the fact
that players can rebuy for just a few dollars. The more
expensive ones are better in that sense, but will cost you 100$ all
together to play.
Bounty tournaments are ones in which a
small part of the player entry fee is put into a bounty pool, and paid
back every time you eliminate another player. So if the the
entry fee for the tournament was 50$, maybe 10$ would be taken and put
into the bounty pool, and this is what you would win every time you
knock someone out. Bounty tournaments add a little spice to the
course of normal play. The problem that I have with bounties is
that I need to knock at least 5 people out of the tournament to win
back the cost of my entry fee, so its not much of an insurance policy,
because if I have knocked out 5 other players then I should be doing
well enough in chips where I can fix my eye on the prize pool, which
is going to dwarf any bounty money that I get. And if I do
finish deeply in the money, the fact that it was a bounty tournament
is going to cost me, because I'm getting 10 to 20% less than I would
have otherwise gotten. On the other hand, if I don't do so well,
if I knock say 1 or 2 people out before getting knocked out myself,
then how much difference is the 10$ or 20$ going to be to me? So
a bounty tournament amounts to giving a small rebate to a whole lot of
people at the expense of the top prize winners. Personally I
enter tournaments to finish near the top and get big prizes, not
rebate checks on my entry fee.
Sit-and-Goes are miniature tournaments which go off
as soon as the set amount of people required for the tourney is
filled. They are constantly available for players to take part
in, and are usually kept in a different browser section of the online
app than the regular tournaments. They range both in the number
of people that are required to fill them up, and the entry fee.
The smaller priced sit-and-goes usually fill up a lot faster than the
bigger ones. They can range in price from a few dollars to 250$
for the entry fee. The variety and convenience of these
tournaments make them a favorite for many players. I happen to
enjoy playing them as well. Heads-Up sit-and-goes are also
offered at most sites online, and they provide an excellent
opportunity to gain experience with heads-up action while being able
to limit your risk to as little 5$ or so.
Finally, Freeroll tournaments are those which are run
either by the house, or by a private party, which cost you nothing to
enter. Private party Freerolls are password protected. Its
just for people's friends. Freerolls which are run by the house,
usually pay such miniscule amounts that its not really worth your time
to play, unless your broke and just can't find anything else to do.
In order to qualify for a Freeroll that is run by the house, you
usually have to have a small amount of time logged into the real money
games.
As a novice player, small inexpensive tournaments
are an excellent way to break into real money play. For a total
risk of 12$ you might get three hours of play time. Also, even
though the entry fee isn't very high, people are usually still playing
to win in tournaments, so you don't have to deal with a lot of
horrible loose play. Therefore even lower cost tournaments can
provide a valid atmosphere for improving your skills.
The
ideal tournament for a novice would be a guaranteed with an entry fee
that is relatively low compared to its guaranteed prize amount.
These types of guarantees will attract more players, and therefore
have a longer course of play. The risk is also lower. It
is important to become practiced in playing tournaments with more than
250 entrants. There are a couple of reasons for this.
First of all, the really high stakes tournaments, (the kind that you
want to train yourself to someday win) almost always go over 250
players. Secondly there are distinct differences in the
structure of the play that 250+ player tournaments assume compared to
much smaller tournaments. In order to win you must learn to form
your playing strategies around these differences.
250+ Player Tournament Analysis and Strategy
Guide
All 250+ tournaments can
basically broken down into five distinct phases: 1) Early 2) Early
Middle 3) Late Middle 4) Post Bubble and 5)
Final Table.
1) Early: The beginning of a tournament to the point
where almost 2/3's of the players are knocked out. In a
tournament with 400 players it would take you about an hour and 40
minutes to get through the early phase. Many players suggest
that the strategy you should have for this part of the tournament is
to play your regular full ring cash game poker. I disagree with
this. My own strategy during the first hour of play is to
tighten up a lot more than I would under ordinary circumstances in a
No Limit cash game. I throw away anything worse than A,Q from
any position.
Its a serious disadvantage to play too many hands too
soon, or to play inferior cards from any position when 1) people are
knocking each other out by the dozens, and 2) the advantage that you
gain by doubling up early in a tournament of that size is completely
marginal next to the finality of being knocked out early. For
this reason I play even KK and AA a lot more cautiously than I would
in a regular cash game. I have been knocked out in the first
hand in a 100$ entry fee tournament with a pair of Aces for a starting
hand. So its not like a cash game at this point where you are
only playing with a small piece of your bankroll at a time.
All-in is truly all-in, and that, plus the fact that an early chip
lead rarely translates directly into final table results, puts me on
the very tight end of the playing spectrum at this phase of the
tournament. I am looking to double up, or nearly double
up during the course of the first hour and a half, but ideally in
about three separate hands, in which I move in from a superior
position with a superior hand, and take just a piece of someone's
stack. Playing that tight I am usually able to achieve this
goal.
2) Early Middle: At this point in the tournament
players might be starting to check the tournament lobby to see where
the bubble point is set. The "bubble" is the point just before
the first winning place is paid. If 50 players were to get paid
in a tournament, the bubble would place 51. So players are starting to
put their eye on the prize and are starting to believe that they
actually have a chance to win some money for their efforts.
The other thing that is happening is that the value
of the blinds is growing to the point where it is somewhat valuable.
Blinds increase in value during a tournament at defined intervals,
usually every 10 minutes. A turbo tournament is one in which the
value of the blinds might go up every two minutes or every 10 hands.
So the blinds are becoming more valuable but not yet
valuable enough to make a big impact in the way people are playing, or
in the way that you should play. Now, depending on how you did
during the first hour and a half of play, you have to adjust your
playing strategy at this point. If you did well and hit your 3
profitable moves that you wanted-then for the time being you can
continue to play more conservatively. If you didn't do so well,
then it will become necessary at this point to become somewhat more
aggressive. The reason for this is that soon the blinds will
become valuable to the point where they will begin to squeeze the
shorter stacks. If you have 1200 chips left, for example, and
its soon going to cost 300 chips just to get through the big and small
blinds-then you know you will be on your way out at that point.
So if you are short on chips at this point you must make the attempt
to pre-empt that situation, or it will soon be too late.
3) Late Middle: This is where things heat up.
If there are 50 places paid, late middle phase would start around the
point where there are 95 players remaining. The blinds have now
become quite valuable and are worth fighting for (stealing) in
themselves, apart from any additional chips that might be put into the
pot if there is a call or a raise. This fact has the effect of
completely transforming the character of play, and you must now change
your own playing strategies as well.
First and foremost it turns into a game where just
calling pre-flop is very unwise. There is almost always a
pre-flop raise at this point in the tournament, because players want
to steal the blinds unchallenged. Stealing the blinds becomes a
priority for all players except the ones who have really managed to
come out ahead in earlier phases of the tournament, the top 5 or 6
monster stacks.
So say you are in P5, and you just call the blind
pre-flop with J,Q suited-there is a good 70 to 80% chance that you are
going to get raised from a later position. Now you are in a
position where you have spent a lot of chips on a call, and you
are forced to put in more on a hand where there is an excellent chance
that you are behind from a pre-flop point of view. Even if you
are not behind in terms of your cards that much, maybe the raise was
from P8 with a pair of 6's, you are still out of position with a big
investment out in front of you, pressured by a raise from a later
position. The bottom line is in this situation, you don't want
to be the guy in P5 with the JQ suited, you want to be the guy in P8
trying to aggressively steal it all with a pair of sixes from a
superior position. You will be forced to fold and the value of
your call will be wasted. You can't afford to do that at this
point in the game.
Instead you must choose the hands that you play
carefully, and if you decide to play a hand it should be raised
pre-flop, not just by making a call to the blind. If your chip
amount is average at this point, you should try to steal the blinds on
average once every 10 hands. If you happen to get a glut of good
starting cards at this point in the tournament, it is to your extreme
advantage to raise the blind pre-flop with them.
4) Post Bubble: At this point in the game, you are in
the money, and all the players left breathe a sigh of relief.
After the bubble has been broken there is usually a short period where
people start playing more aggressively because they know that they are
going to win the value of their entry fee plus a little bit.
What you should do is never-mind that, and form your
playing strategy around where you are chip wise. If you have
done well and are ahead of most people, you can play a more
conservative amount of hands. If you are behind, again the
blinds continue to raise, so you should play more aggressively.
Keep in mind the tenor of the game of the game has
not changed since the last phase-it is still very much a raise
pre-flop game and will remain so until the end. Occasionally you
will see a flop go off unraised but it will be rare. To survive
you must continue to raise pre-flop with your best hands and make the
attempt to steal the blinds-the only question at this point is how
much you need to do this depending on the size of your stack.
Essentially, that's the basic strategy from here on out.
5) Final Table: If you've made it to this
point, one of the last 9 players, then you should give yourself a pat
on the back. The first thing that you should realize at this
point is that there is a big, big difference in the amount of money
that places 7, 8, and 9 receive compared to what places 1, 2, and 3
receive. This fact should absolutely have an effect on the way
that you play at the final table. Just like in the early phase,
it becomes to your advantage to play less hands. Unless you are
really being squeezed by the blinds, you should allow other players to
take the chances and eliminate themselves. The big difference
between regular cash ring games and tournament games, is that in
tournament games you can make profits by doing nothing but folding,
and in the case of the final table, big profits.
You shouldn't think of your goal initially at the
final table as, "I want to come in 1st place", and then try to take
the most aggressive path to that end that you reasonably can.
Instead you should think more along the lines of, "I want to survive
until at least 4rth place." I'm not saying don't take the
legitimate opportunities when they come to you-poker involves risk-but
I'm saying to take a basically conservative attitude, and let that
inform those situations where you are struggling to decide weather or
not a hand should be played-let it tilt you to the conservative end.
The underlying circumstances of the final table situation ultimately
favors that stance.
That's my 250+ player tournament analysis and
strategy guide-it has worked very well for me. Smaller
tournaments have a lot of the same elements involved, but they can't
really be defined and separated with that level of distinction.
Ultimately the larger tournaments, the ones worth playing, in which
you can make big prize money, are going to fall into the phase
patterns which I have described above.
If you do happen to take 5th place or better in
a larger guaranteed tournament, and you win say 4,000$, you may happen
to leave feeling a little bit like King Kong on steroids. One
warning here-you may be tempted to hit the higher stakes cash game
rings, feeling like King Kong and all, and with a large stake.
But tournament skills do not translate into regular cash game
skills-they are two different animals. Since you have been
playing a tournament for hours: A) You are likely to be played out and
card weary, too tired to make correct and effective decisions, and B)
unable to immediately transition yourself to your cash game skill set.
For this reason you are likely to give back a large part of your hard
earned prize money. So instead, cash some out, go to bed, and
play some smaller stakes cash games the next day, if you feel so
inclined.
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