When is a $10 chip not a $10 chip?

[Telemachus]

[Nortonesque]

[AdamtheExpert]

[Nortonesque]

[AdamtheExpert]

Only recommended for THEORY. Most of the Sklansky/Malmuthian stuff, does NOT work in practice, and is over-esoteric. However, the material is very impottant, for you to learn the theory behind correct play, so you can formulate strategies that work for YOU.

Anyway, the whole notion of "my chips being worth more" Is just too damned esoteric for ATE.

In the situation given, you espress the Chamberlinian attitude, that enabled Hitler to have Carte Blanche to do what he wanted

(I'm gauranteed to get my money back.) In every tournament, unless you just TERRORIZE, and have a MONDO-Gigantor stack, there comes an "Alamo" hand.

That is, YOU MUST TAKE A STAND.!!!!!!!

Whew! what a hand!

Against a pair, you are a substantial favorite, even if they have an ace or ten kicker.

In this situation, where someone KNOWS that people are likely to CHICKEN OUT, they may very well go all in

WITH A HAND THAT LEAVES YOU WITH THE BEST HAND ALREADY! ! ! !

Example: 10 x,, or smaller flush draw

They may have a hand, that makes a 10 or ace good, as well as a straight or flush

Example: 9 K, 8 6, etc.


The point is, insomuch as first place, will pay between 5 and 9 times (based on your accont, of there being 6-10 players) We are NOT interested in second place ! ! !

Unless of course, that we are FORCED to SETTLE for it!


But, in this spot, THIS is your best chance, to get first. It AIN'T very likely to get better.

Figuring that the short stack will go BUST, and you sliding into second, is just a LOSING way to think. . . . IN THIS CASE

Again, this is because second just don't pay JACK


(Ed note: for you British people, that means Jack Shift-f)

In a situation where second place payed a NORMAL amount I . E. around 66% of what first payed, you may elect to fold here, and not "pull a Bonetti"


It's VERY difficult, to make ANY generalized statements, regarding tournaments.

There are SO many variables, it's really necessary to go over each situation, hand by hand. Includeing: stack size, length of round, stack size of opponents playing tendencies of opponents, payout table. Amount of buy in. how often tournament runs.
Other opportunities available.

Yeah, you look at those things. If there's a GREAT pot limit omaha game, two tables over, and it looks like you just aren't getting any cards, AND it's only 100 buy in

YOU TAKE THAT INTO ACCOUNT. ATE don't like sitting around, not making any hands, if there is something better to play.

If I can make 100 back in a matter of minutes, I'm NOT going to take 3 hours, only to bust out of the money. If I'm not catching cards, I'm ready to go play something else.

NOTE: This doesn't apply to everyone. ATE can, of course, play all games.

But, you should consider, if the investment of your time, is worth sitting around with a crippled stack.

Anyway, hope this helps




W

[Telemachus]

Adam,

Thanks very much for this helpful post.

What swung the decision in the end for me was my confidence in my ability to outplay my opponent heads up, albeit with a depleted chip stack. The only way I could guarantee this was to fold here. However, I see now how this decision was influenced to a degree by my fear of going out in third, and that the risk/reward ratio probably justified a call.

In this case, as you imply in your response, he outthought me. He knew my fear of getting knocked out in 3rd, or desire to get heads up with him, and used that against me, by making a raise that he knew I couldn't call without the stone cold nuts. I hate calling big bets with draws in hold'em, even big ones, like this, but I take your points that I could have had, as I did, additional outs to my two overcards, making me enough of a favourite to justify a call.

Thanks again for your expertise.

PS also thanks to Norton for the Sklansky pointer