Poker Tournaments are different from Cash Games in a number of different ways. With Cash Games you get more serious and competent players who are very good at playing Deep Stacked, while Tournaments attract a lot more Recreational Players and due to the way the Blinds Increment there are some different (and evolving) strategies that need to be employed. A lot of serious players avoid tournaments because there can be a lot more Variance in Results, but with my background I am very used to dealing with Variance and so I find Tournaments more to my liking...and they are also more accessible where I live.
The format for Poker Tournaments can change, but in my part of the world they usually have the ability to Re-Buy chips if you wipe-out early and then at some stage an Add On is allowed where you can pay for some extra Chips on top of your existing stack. Usually the Add On occurs at the same point as the Re-Buys stop and from there on it’s elimination time. This format affects the Metagame of the Poker Tournament overall and so I have made some notes and broken the Tournament structure down into Stages to help myself adjust.
1. Early Stage
This is the start of the Tournament where the Blinds are still very small so there is not much incentive to try to steal them. I’ve found a lot of players just like to Limp In at this stage and play a lot of Family Pots (where everyone at the table sees the Flop). It’s usually a pretty relaxing time to play and players can get to know each other a bit. I find it’s an excellent time to try to size up opponents playing styles and work on my own Table Image. Sometimes I throw out a silly Bluff or two and make some cheap losses to give the impression that I am Loose. I am also more likely to chase a high value hand with something like Suited Connectors if there is anyone playing Aggressively as I can potentially get a big score early and do it cheaply.
2. Approaching the Break
Usually the Break is when the Re-Buys stop and the Add On happens. The Blinds are creeping up steadily but they’re not too bad just yet. Here I watch out for any Short Stack and/or Aggressive player who might go harder when betting at a Pot because they know that they will have a chance to Re-Buy if they wipe out now – but they won’t be able to after the Break. It’s a good time to tighten up my range a little bit because if you can make it to the Break in decent shape then the Add On is good value to take and I take it 100% of the time even if I am really short.
3. After the Break
With the Add On everyone gets a short reprieve from the increasing Blinds as the Effective Stack Size of most players goes UP. This is the stage where people will start to get steadily Eliminated from the Tournament and you should definitely have identified a strategy to play against your opponents at the table by this stage. From here 1 bad hand can end your night so you need to have your wits about you as players who get Short Stacked will start to get increasingly Aggressive as they become desperate. Sometimes you do get moved around in this stage so if you don’t know the players at the new table it pays to be extra cautious and patient while you find your bearings at the new table.
4. Approaching the Bubble
The Bubble is the first finishing position which DOESN’T get paid and it is widely regarded as the worst result in a Poker Tournament because you can play all Day/Night, do quite well and still walk away with nothing. A lot of players will Tighten right up as the Bubble approaches because they think if they can just hold on for long enough they can get some Cash. Other players know this and will start to Bully the Short Stacks with frequent raises when the Short Stacks are in the Blinds. The key here is to obviously survive but you can’t be too Passive or you’ll get Blinded Out. Similarly if you are too Aggressive then you could be out of the tournament with 1 bad hand.
5. In the Money
Often the prizes start when there is only a Final Table left in the Tournament, but not always. This stage is when the few remaining players have already guaranteed some sort of payout. Some players who were super tight before the Bubble will suddenly become more relaxed and Loose once they’ve locked in a payout. Nearly always, however, the Blinds have gotten so big that the play becomes dominated by Push / Fold Strategy so Position is really important and if you do enter a Pot voluntarily you probably need to expect that you’ll end up All In. Pocket Pairs and Aces, or even Kings are pretty important late in a Tournament as you might end up with no choice but to play a sub-optimal hand for all your remaining chips. A bit of luck always helps here but just getting this far is a good result.
Overall Poker Tournaments are a really fun and social way to play the game. I personally think that it requires a broader set of skills and temperament to do well because of the way the game evolves and I find playing Cash Games a bit boring by comparison. My recent results in Tournaments have been really good. Of my last 15 Tournaments I’ve made it In the Money 10 times – which is a result I would never have expected would be possible when I started. I’ve had a bit of luck recently, but I also feel like I am getting the hang of it now, and notes like these are definitely helping...