THE MULTI-TABLE

TOURNAMENT
GUIDE

Learning to Win at Poker with Gripsed

OFFICIAL GRIPSED.COM E-BOOK SERIES

THE MULTI-TABLE TOURNAMENT GUIDE

If youve been looking for a comprehensive, kick-ass multi-table tournament guide, then look no further everything you need to know to become a great tournament player is here. Ive packed my MTT Strategy Guide
with tips, tricks and tools to help you every step of the way, from registration all the way to the final table. By the
end, youll have an invaluable basis of information thatll help you dominate every tournament setting, from your
weekly Friday night tourney to world-renowned events like the World Series of Poker and the European Poker
Tour. Youre going to learn a lot here, and you can take these lessons to the bank literally.

But before we get started, I want take a moment to talk about creating an ideal learning environment...

Poker is exciting - I get it (no one gets it like me) - but I dont want your enthusiasm to stonewall your ability to
absorb and retain the information divulged here. Take your time with this book - read it fully and slowly. Really let
the lessons sink in and once they have, get some practical and real experience putting each principle to work.
Master its execution. In fact, consider the very act of reading this guide your inaugural lesson into MTT strategy:
consider it your first lesson in observation, perseverance, and patience. Youll need all three to be a successful
tournament player.

Got it?

Good. Lets get down to the felt.

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CONTENTS

Chapter 1: Pre-Game Strategy.

Learn why and how setting clear, actionable, realistic goals will help you succeed.

Chapter 2: Early Stage Strategy.

A comprehensive early-game guide that takes you by the hand so you can play more of yours.

Chapter 3: Middle Stage Play.

This is when youre going to take the big risks. Learn how to make the leap without flying blind.

Chapter 4: Late Stage Play.

The money bubble has burst and youre still in the game. Now what? Learn how to max-out your take-away.

Chapter 5: Defence, Offence.

Get in-depth analysis on how to beef up your defensive and offensive tactics.

1. PRE-GAME STRATEGY

If youre reading this guide, chances are youre serious about poker, and if youre serious about poker, chances
are youre playing to win. Winning is the first, most obvious goal of playing poker, and its also the easiest to lose
sight of in the heat of action. You are going to want to keep it in the front of your mind during any tournament.
Winning does not always mean being the last one standing at the final table, but obstensibly, youd like to
maximize your return on investment (i.e. the amount you spent to buy-in to the tournament).

CHAPTER 1. PRE-GAME STRATEGY

Return on Investment (ROI)

There are a few factors that will affect your ROI:

1) The amount of play. How deep are the starting stacks? How quickly do the blinds increase? Generally
speaking, deeper stacks and slower structures favour stronger players because they demand focus, patience
and the experience that teaches both.

2) Your adaptability. Every game is a little bit different. If deep stacks and slow structures favour more
aggressive, more conservative players, you will have to adjust your strategy to suit the payout structure.

The nature of tournaments is that you will fall short of the money a high percentage of the time (80-90%), and
to make up for all those losing investments you need to be hitting the high paying places so that the average
of your payouts compared to your entry fees will be positive. The more top heavy a tournament is, the more
inclined you should be to take an aggressive high-risk approach. In the case of flatter payout structures it can be
preferable to implement a strategy focused on making the final table (or the final 3) rather than a go-for-it-all or
go-home approach.

3) Your focus. If youre only used to playing quick cash games, the patience and course required for tournament

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play may come as a shock to your system. Your ability to collect on your ROI greatly depends on your ability to
sit tight, stay focused and keep playing your A-game consistently - not just for the first couple of hours.

4) Your competition. As soon as you sit down at your very first table, you are going to need to try to get a
handle on your competition. The skill level of your opponents is a major factor in your ability to maximize your
ROI.

Next, I want to talk about the human element of MTT strategy specifically, and poker in general. We know we
have to want to win, and we know we have to max our ROI, but all the passion and number strategy in the world
wont make up for a lack of basic psychology.

The Human Element

The human element of poker, though perhaps more subtle, is equally important when thinking about MTT goal
setting and strategy. Poker isnt solitaire; its not a game strictly between you and the cards. Poker is a game that
uses cards, but it is between you and your opponents. As such, youre going to want to get a feel for the other
players at the table so you can choose effective winning strategies. (Youll learn more about this in the upcoming
chapters.)

Lets recap: the 3 main goals in poker tournaments are...

1) To win

2) To maximize your ROI

3) To get to know your tablemates so you can choose winning strategies

Having these three primary goals positioned clearly at the front of your mind will definitely help you get your

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1. PRE-GAME STRATEGY

head in the game. Now, I want to focus on the rest of you. Knowing what your goals are outside the tournament
space is one thing, but you need to be prepared for the tournament itself. Its a little like wanting to move to
a new country and needing to learn a whole new language; you can take courses, read books and practice
speaking out loud before you get there, but the ultimate education comes when you start living there; when you
start negotiating the unfamiliar (and sometimes uncomfortable) terrain yourself. Same goes for poker. Theory
helps, but it wont stand alone. You need actual practice as well. You need to the best tools and strongest
foundation to build your tournament life and thats where this book comes in.

Your Tournament Life

The value of your tournament life is directly related to the way you approach tournaments. If you play winning
tournament poker then your tournament life holds value. If your approach is to slowly let your chips bleed away
then your tournament life isnt worth much anyway. This is because your goal in a poker tournament should not
be to last as long as possible. Your goal should be to give yourself the best shot at winning. Of course, the offshoot of this approach is that you usually will stay in the game longer. Making it to the money and moving up the
payout structure are by-products of going for the win, but if they are your primary focus in MTT youre going to
be a steadily losing player. Not what we want.

To make this point more obvious, I want you to look at the increase in payouts in terms of buy-ins rather than
actual dollars. You will see the jumps are very, very small compared to the jumps at the top spot. When people
are playing tournaments they very often get caught up in the actual dollar amount they can make if they move
up a pay spot rather than looking at how much of an increase in pay they are getting relative to their investment.
By realizing the change in ROI often isnt that significant, it becomes much easier to focus on going for those
top paying spots where the jumps are significant both in terms of dollars and in terms of buy-ins. This holds
especially true in big live buy-in events where the buy-in is $1,000 or $10,000. Those real dollar amounts can

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1. PRE-GAME STRATEGY

seem like huge jumps, but when compared to the unit of investment - which is how we measure the success in
tournaments, they arent that meaningful.

Example of a flat payout structure:

1st: 20% 2nd: 16% 3rd: 12% 4th: 9%
5th: 7% 6th: 5% 7th: 3% 8th: 1.8%
9th: 1.2% 10th-12th: 0.75% 13th-15th: 0.6% 16th-18th: 0.4%
19-27: 0.2%

Example of a top-heavy payout structure:

1st: 40% 2nd: 25% 3rd: 15% 4th: 8%
5th: 6% 6th: 4% 7th: 3% 8th: 2%
9th: 1%

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1. PRE-GAME STRATEGY

In addition to wanting to last longer, other pitfalls to avoid in MTT play include:

Bounty Hunting. Unless youre playing in an actual bounty tournament, going out of your way to

eliminate other players is not going to help your bankroll. This is particularly useful to remember if youre the big
stack at the table and start to feel the inclination to throw your weight around and knock out the little guy. If at
any point during a tournament you start to channel Rambo, take a moment to remember this: it is not your job to
kick anyones ass in particular, but it is your job to save yours.

Risky Business. Granted, to some extent all poker is risky business, but there is never any reason to take

an irresponsible risk. Being chip leader is great, but if you act rashly, it could cost you a lot (or everything) and
you wont even stand a chance of reaching your goals.

Movie-Script Poker. Thinking about playing straight from the script of your favorite poker movie? Then

you can also think about packing your bags. Trying to make totally wild plays to satisfy your ego only works in
the movies. Dont be too cool for school; stick to the lessons in this guide for your best odds.

Things to Remember

Never forget your ultimate goals (i.e. winning, maxing your ROI, accounting for the human element); its

easy to lose sight due to opportunities for instant gratification.

Never give up. Any stack size can win. (Greg Merson had 3.5 big blinds on day 5 of the WSOP Main

Event and came back to win the event for $8.5 million.)

Your stack size is going to fluctuate - dont let your emotions fluctuate with it.

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You need to know your opponents so that you can identify your ideal strategy for getting chips.

BE AGGRESSIVE! You should very rarely pass up on a profitable spot. (Think 60% in your favor or

even money vs. the opponent with dead money in the middle.) When you register for the event you take on
the challenge of gambling your way to every chip in play, and youre not going to get that done by avoiding
confrontation.

Be aware of your position in the field relative to others; Im talking about table position and set up,

average stack size and payout structure. This will help you know your odds of winning as well as your odds of
making a specific payout and these factors will influence when you should play a risk-averse strategy (rarely) vs.
when you should play a risk-inclined strategy (appropriate for 90-95% of the event).

At this point, you should be mentally ready to handle your pre-tournament challenges. Your mind should be as
prepped as possible and you should know exactly what you want out of the event and strategies that will best
help you keep your eye on the prize.

Now lets get to the tables...

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2. EARLY STAGE STRATEGY

The biggest predictor of success in tournament poker is your level of focus. The more focused you are, the
more able you will be to accomplish the goals of early stage play. Pay attention and take notes! Here are your
missions, if you choose to accept them. (And if you want to take it your MTT performance to the max, you will!)

Your Mission: Identify weaknesses.

CHAPTER 2. EARLY STAGE STRATEGY

Your Tools: official poker rankings.com, sharkscope.com.

Your Objective: To scope out the inner workings of your opponents by using these covert (and yes, completely
legal and equally available to all) websites. Pay attention to the hands, especially the showdowns! This is your
only chance to see your opponents hands and how they decided to play them - and this, my friend, is gold. Now
you know what makes them tick, and that will help you keep your stack more safe. The best defensive is a good
offence, right?

TIP: Look for signs of fishy players. These are players who go in on too many hands (>25%, who make overly
large raises and bets). Alternatively, they are also characterized by passive play and making bluffs that just dont
make any sense.

Your Mission: Wait for the sweet spots.

Your Tools: Patience.

Your Objective: To sit calmly and wait for profitable opportunities. Theres no rush to get involved in the action.
Being impatient pre-flop can lead to compounding errors post-flop. Its never a winning play to make losing
investments.

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A motivational stat:
Winning players will typically fold 80-90% of their hands in most positions.
Your Mission: Brand yourself.

Your Tools: Basic Psychology.

Your Objective: Establish your table image. How you are perceived determines whether your opponents will
give you a lot of action or stay out of your way. Heres the tricky part: how you wished to be perceived depends
on you and your own unique style of play, so I cannot conclusively and absolutely tell you how to brand yourself.
What I can tell you definitively is that just about any table image can work if you can accurately predict how
your opponents will react to it. Thus you will be able to make adjustments to your strategies accordingly. For
example, if people think Im a calling station, Im not going to expect them to try and bluff me, and thus I can
fold more often to their bets. If they think Im a maniac, then again Im not going to try and bluff them as much,
but I will be more inclined to make bigger bets when i do bet to get paid off more often. The biggest key when
it comes to table image is self-awareness and understanding how others perceive you and consequently, how
they are going to adjust to you.

Like I said, it is difficult (if not totally impossible) for me to tell you how you should brand yourself - but I CAN
tell you what images youll probably want to avoid. Being considered a loudmouth, a hotshot, a weak tight
player, easy to bluff open overly loose and passive or a player who is never able to fold a hand is generally
not a good thing. This is because the best image to have is one that people respect. You should want to project
the image of a table captain; someone who has all their things in order; a real winner at life. This sort of image
commands respect and will typically make it much easier to play a profitable game. When opponents fear you
(and therefore worry about what you are capable of) they are much more likely to just play a straight game

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against you, letting you have control of the action.

Now, loudmouth, cocky players may have their things in order, but since they come off as jerks, people will want
to take them down. As a result, they have to deal with a lot more questionable situations; they have to wonder
if people are making a move because they actually have a good hand or because they want to impart a little
lesson in manners.

In short, the more players respect you, the more youll be able to get your way. The more you get your way, the
more you win. After all, respect doesnt breed contempt; acting contemptuous breeds contempt. Along the same
line, if youre a friendly, fun person to be around, a lot of players will actually be happy to see you win. They will
actually be happy to lose their money to you. Seems almost oxymoronic, doesnt it? Who would be happy to lose
their money to another person? Answer: someone who genuinely likes that other person.

Your Mission: To the max.

Your Tools: The following equation.

Your Objective: I want you to take your value to the max on every single hand, every strategic opportunity, and
youre going to capitalize on this strategy by using this simple equation:

Opponents style + Value of Your hand = optimal line to extract the maximum payoff

So, take what youve learned about your opponent, then add in the strength of your hand and voila! - the best
way to get the most money out of the situation will present itself to you.

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Example: lets say you get 99 pre-flop and youre in late position. 99 isnt a particularly great hand, but it is not
something youre going to want to muck right away either especially when you are in late position and can
see how everyone else is responding to their own hands. If you find yourself up against a looser, more passive
player who is checking and calling, chances are you can squeeze a few bets out of this person and get a feel for
his or her hand before you have to commit any major investment yourself. The idea here is to take control of the
action; to know when to play your hands as value bets or as bluff catchers.

Your Mission: Chip security.

Your Tools: Iron-clad bankroll management.

Your Objective: Dont give your chips away. Its common to get no hands for the first few levels, so just blind
down and stay focused. In the event you do have a good run in the early levels, build your stack but dont get
reckless with your newly amassed wealth. You are its proud parent and like any parent, some mistakes are
inevitable, but you can avoid the big ones (read: the detrimental ones) by making sure every action made is an
informed action; that every risk is calculated.

Calculated is the operative word here. Not every aspect of MTT play can be calculated, but you can roughly
(and profitably) predict more than you probably think.

Lets take a look at some basic and effective calculated MTT strategy.

Increasing the Odds

I want you to have a solid handle on what situations are good to stay in and see out, and which ones are best

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2. EARLY STAGE STRATEGY

viewed from the sidelines. I want to start by familiarizing you (or re-familiarizing you, depending on your existing
level of poker knowledge) with two simple and important concepts: implied odds and reverse implied odds.
Implied odds refer to the future payoff you expect to receive if you catch a flop (or a particular card) that gives
you a winning hand. Situations offering good Implied odds refer those where you will be winning a big pot or
losing a small pot. Situations offer reverse implied odds are those where you are most likely to win a small pot or
lose a big pot. In the early stages of MTT play, implied odds are good and reverse implied odds are undesirable.
We want to do everything we can to keep the risk low and rewards great and the best way to do this is to
keep the odds in your favor by gaining and preserving chips. You can accomplish this by...

1) making small investments. Dont shy away from investing a small percentage of your stack to see cheap flops
in order to try and bust tight-playing. More opponents in the hand = more people to potentially pay you off. I
recommend that you only do with this pocket pairs, suited connectors, and suited aces. After all, you want to be
on the winning side of setup hands.

TIP: BE CAUTIOUS WITH BROADWAY HANDS. I cant emphasize this enough. Making top pair in deep stack
situations is not your primary objective. Knowing your opponent will tell you when its OK to go to the house with
top pair and against who you can play more hands.

2) gauging your pre-flop play. The worse you expect someone to play after the flop, the larger you think your
post-flop edge is, the more hands you can justify playing pre-flop. Dont play loose just because you want to;
there has to method to your perceived madness.

3) being wary of crowded tables. More players also means more people who may have hit lucky on the board.
Youll need to have a more nutted hand to be able to withstand a lot of action in a 5 or 6 way pot.

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4) keeping the pot small. The pot size grows exponentially, so be willing to keep the pot small when you are
unsure of where you stand in a hand. Its less disastrous to miss a value bet than to risk losing your entire stack
in a spot where you arent sure where you stand.

5) punishing your opponents. Im not talking about taking up an active vendetta against anyone, but you can
give a rap on the knuckles to opponents who are playing too loose by playing a tight range in position. This way,
when you both hit the flop, you can hit it harder and make the action work for you.
Alternatively, lets look at sure-fire ways you can lose your chips not to mention any credibility youve gained at
the table. Weve already discussed most of these, but they stand revisiting.

Ways to Bleed Chips

1) Playing too loose pre-flop, especially in early position when it compounds into post-flop errors;
2) Calling down too light, especially when competing with other tight players (i.e. making stubborn calls);
3) Playing impatiently in general;
4) Not paying attention and consequently, missing out on profitable opportunities;
5) Making bad bluffs;

Post, Flop, Action!

Once you make a hand, its time to figure out how to get the most out of it. Its hard to get dealt strong hand, let
alone connect with the flop strongly, so you really have to capitalize on these opportunities. Bluffing does play a
role, but when it comes to poker tournaments, for the most part you are going to win the most chips when you
are holding a strong hand. Remember, big pots are for big hands!

When to Play your Hands Fast

You are going to want to take a more aggressive approach when...

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...you think your opponent likes his or her hand and you believe you have a stronger hand
...you encounter dangerous/dynamic boards (i.e. when there are many draws possible)
...scary cards are turning up (think 77 on 235; or when every turn is an over-card or straight)
...you encounter multi-way pots (more opponents means lower chances of winning)
...youre out of position (i.e. you dont have control of the action)
...youre up against passive opponents who need you to do the betting for them

When to Pay your Hands Slow

You are going to want to meander down easy street and keep a more passive front when...
...the board is dry/static and doesnt contain many draws.
...the pot to stack ratio is low. (How many pot sized bets do you have left? Hint: The fewer you have, the easier
it will be to get all-in by the river and the slower you can play your hand.)
... its you vs. only 1 or 2 opponents. (Lower odds of getting sucked out on, and less likely someone has a good
enough hand to give you a lot of action.)
... youre up against hyper aggressive opponents. (Let them seal their own fate! You can always wait until the
river to put the last bet in, and you may get 3 streets of value from a dud-hand they were bluffing and wouldve
folded if youd shown any interest earlier on.)
...you have all the cards in the deck and its near impossible for your opponent to have anything that will give you
action. (In these cases, you have to give your opponent a chance to bluff; they cannot call any bets from you but
they can bet themselves.)

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3. MIDDLE STAGE PLAY

Your middle stage strategy for MTTs should be a lot like your middle age strategy for life: youre still in the
game, youve made it this far, earned your place and nows the time to take risks. You could easily just keep
coasting along, but thats not how you make an impact, thats not how you get attention and get your name well
known. Want a hot new car? The kids are grown and you dont need the minivan anymore, so why the hell not?
You can afford it. Want a hot new wife? Hmmmm...well, unless you can also afford a good divorce lawyer, this
little indulgence probably isnt a good call. Its a play that can cost you a lot more than you were betting on. A

CHAPTER 3. MIDDLE STAGE PLAY

good idea in theory, after all, is one thing. A good idea in practice is quite another. Much like successful mid-life
strategy, successful mid-stage MTT play depends on balancing solid theory and solid practice. Its a good time to
take risks (theory), granted those risks are founded in strategic, tried and tested rationale (practice). Im here to
show you why you should take those chances and how you can blend the two areas into one bankroll pleasing
plan.

Characteristics of Mid-Stage Action

As we get closer to the bubble (where the next player knocked out wont win any money) and average stack
gets shorter, a lot of players will become more conservative and risk-averse. Translation: its prime time for chip
accumulation.

Once the antes come into play theres more money up for grabs every hand. During this phase of the
tournament you should widen your standards for getting involved, but you dont need to put your stack in
reckless danger going after that dead money. While the smart strategy is to raise more hands and go after more
pots because of this added dead money, you still shouldnt be chasing the pot with wild abandon.
Lets take a look at how we can accumulate chips without fatally compromising our stack. Ill start by laying out
your fundamental mid-stage objectives:

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Mid-Stage Goals
1. Read the table. Youre going to identify how you can accumulate chips by checking out the table setup.
Always be aware of the table layout, player types and stack sizes; this will keep you from playing too loose or
too tight. Remember: each table requires a slightly different approach. Adapt or die. (More on this fundamental
adage later!)

2. React to the table. Keep the reckless players in check and dont give much action to the cautious ones. Never
play into your opponents style; play in a fashion that will take them out of their comfort zone.

This means youll want to re-raise the loose players who are opening trash hands. Yes, occasionally they will
wake up with a strong hand, but most of the time (70%+) they will have to fold to your re-raise.

Likewise, you have to be willing to re-raise and call all-ins against the most maniacal players - otherwise, just
avoid them all together. Maniacs are the type of players who will not only open a wide range of hands, but will
also be willing to come back over the top with weak holdings (e.g. any pair, any ace, broadway cards) if they
think youre pulling a play on them. They may be opening a wide range of hands, but that doesnt translate to
them folding to a lot of 3-bets. So, if youre going to go up against these players then youd better be prepared
to bet your stack on it with some far from premium hands yourself. Hands like 77 and AJ will go way up in value
in these situations against a maniac.

As I mentioned, though, it may not be worth getting involved. The only way to make this call is to take a look
at yourself and how you play. Maniacs are always in the action so it can be very tempting to try to get involved
with them and play along in their game of who can pick up the most blinds and small pots. This said, their sticky
nature can make it a losing proposition if youre not prepared to follow up re-steal attempts with future bets.

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If this is the case, then youre better served just sitting back, relaxing, and watching the maniac try his magic
against the table. You should just focus on the dynamics that are being created around him. You can pick up
some valuable information about the way your tablemates play by the way they react to a maniac.

3. Steal from the tight players. Since the stacks are usually pretty short mid-stage, cautious tight players will be
letting some prime opportunities pass them by. Dont let them pass you by too; take these steal opportunities to
cushion your own stack - just be aware of whos in position and whether or not these players are likely to police
your steals.

4. Focus on late position. Ah, the sweet spot. Since there are fewer players to get through in late position you
have less likelihood of running into a strong hand. When youre dealing with non-believers, and late position
fails, try stealing from positions that will get more credit. Again, pay attention to who is in the big blind and who
is in position; this will determine how likely you are to have opponents play back at you.

Building a Stack: Mid-Stage Chip Accumulation

Now that you know how to keep your eyes on the prize and your head above water, I want to give you a deeper
look in how, exactly, to maximize chip accumulation using precise strategy and numbers. We know theres an
undeniable luck factor in poker and this is why we have to use solid, iron-clad strategies to sway the balance in
our favour. In other words, we want to control everything we can control.

1. Steal the blinds: Risk 2-2.5 big blinds to win. The pre-ante reward is 1.5 big blinds. Once antes are in the mix,
that reward jumps up to 2.5 big blinds, while the risk on your part remainds the same. A 50% success rate is
break-even, so if you pick your spots well, youll be making money on your steals.

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The exact success rate of your steals is dependent on the following factors:

A) how many hands/players you have to get through

B) what % of their hands each player will continue with (whether it be by flat calling your raise, or by playing
back at you with a 3-bet.

*Remember, some opponents will play the same percentage of hands, no matter what. Some will play fewer
hands facing a lot of action (raise, re-raise) and others will play fewer hands based on what percentage of hands
they think you are opening, so when your raise looks like a steal, it will work less often. On the other hand, if
they have no reason to suspect youre stealing, they may fold everything but the most premium hands.

2. Re-steal from the loose openers. Risk 5-7 big blinds to steal the blinds and the villains open (4.5-5.5 big
blinds). Your success rate will be based on what percentage of hands the opponent opens and what percentage
of those hands they continue with vs. your re-steal (be it via flat calling or re-raising).

3. Play stronger, play in position. Build your stack by playing stronger hand ranges than your opponent. Double
your power by playing in position so you can control the action.

Here are some tips on how to achieve these objectives:

If your opponents are opening 20% of their hands, you want to play no more than 20%; you will

experience less fluctuation in your stack if you play an ideal 10-15% of hands in these spots.

When you connect strongly with the flop, you want to continue with the hand. The more shallow your

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stack is, the lower your criteria should be for getting all-in. For example, with 1 pot-size bet left to play for, youre
never going to want to fold a top pair, but with 10 pot-sized bets behind the wager, you may consider it since
your opponent probably only has very strong holdings if they are willing to invest that much to win the relatively
small amount sitting in the middle.

Once you know if you have reached your commitment threshold regarding hand strength, you have to

decide on the best way to get the most money in the pot (i.e. fast-play or slow-play). Your decision to continue
with the hand has been made at this point, and your options are whittled down to either calling or raising on
each street - folding has been eliminated.

In cases where you have not connected very strongly with the flop, your commitment threshold may be

such that you will call one bet and fold to a second; or perhaps you will call two but not three. In these cases
your goal is to find a way to make it to the showdown for that amount of bets. If you end up having to fold your
hand, it didnt really matter what you had - and if youre up against an opponent who you know is going to put
the maximum pressure on, it can be correct to fold right away rather than commit chips youll never see again.
Again, this comes down to knowing your opponent.

4. Defend your blinds. If youre facing a min-raise you will be getting 3:1, sometimes 4:1. This means that if you
see a flop, you only need to end up winning that pot 1 in 4 or 1 in 5 times to make your money back! Given that
a random hand has about a 33% chance of beating a monster like Ace-King, you can see why defending your
blinds is very important. Keep in mind that this means you shouldnt go crazy when you just catch any piece of
the board; your goal is not to win the pot every time you defend your blinds - not even half the time! Your goal is
to win the pot often enough to make your pre-flop call profitable.

For blind defence to work you must be confident that you can play well after the flop. Conversely, if you are

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passing up on this opportunity when youve landed great odds, you will be like the player who plays to survive
in the tournament, slowly bleeding your chips away. Dont shy away from putting yourself in a temporarily
uncomfortable spot if the action looks like it could be in your favour. Factor in the opponent youre up against,
how many hands theyre opening, how many chips you will have left to play once the flop hits and whether or
not you have position; this will determine whether or not you can win the pot the 20-25% of the time it requires
to break-even.

You can also defend your blind by re-raising/3 betting. Again, it boils down to simple math: what percentage of
hands is the opponent opening and what percentage of those hands will they fold to your re-raise? Lets not
forget that in all these spots, you can always win the pot after the flop as well. You should also consider the
standing of your image. In other words, will your opponent think you are stealing, or will they think you woke
up with a real hand this time? Building on this, if you make it clear that you are someone who is ready to go to
battle, players will be less inclined to go after your blinds in the first place. Your image will impact how often your
re-steal will be successful.

5. Capitalize on fold equity. Use your fold equity to win pots without a showdown. Fold equity simply refers
to the likelihood that your opponent(s) will fold facing your aggressive action. By using your fold equity to win
hands, you take your winning chances from whatever they were based on your pot equity, to 100%.

So:

Fold Equity = 1 - (% of hands your opponent will continue with / % of total hands they have)

Heres a concrete example to offer up a little more illumination:

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Dave holds Ac8h and is up against one other opponent, Susan. She has 4h7d. The flop comes down with
10s6c2d.

At this point in the game, Dave and Susan hold pot equity of 25% and 75%, respectively. Essentially, this means
that if the players simply showed their hands and the turn and river cards were dealt, Dave would have a 75%
chance of winning and Susan would have a 25% chance.

As it stands, Susans hand is pretty dismal and since she doesnt know what combination of cards Dave could
be holding, lets say she has a 85% chance of folding if confronted with a hefty bet. If Dave can successfully bet
Susan off her hand (which we know he can in this case) his chances of winning the pot jump from 75% to 100%.
Even if a 7, 4 or running straight cards were going to come on the turn or river, it doesnt matter because Dave
has successfully ended the hand by making a winning bet.

Fold equity can be an incredibly valuable tool, especially in mid-stage MTT play when the stacks are lower and
you want to be able to risk more, but risk with a degree of safety. Fold equity puts solid numbers behind random
chance. After all, you arent always going to land good cards and even if you get them, they do not always
guarantee the win. A master poker player is one who can also win chips by good betting. If you are able to do
this then when coin-flips and coolers happen you will be more likely able to withstand the blows.

You can learn more about fold equity in Chapter 5: Defence, Offence.

Adapt or Die
Ive already touched on the importance of adaptability, but I want to elaborate to give the point its due attention.
Understand: your ability to play successful, winning poker depends largely on your ability to adapt quickly, aptly

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and strategically to your table and the action. This holds doubly true for tournament poker when your table and
table dynamic changes more frequently - and the truth of the premise increases exponentially when youve
reached mid-stage, risk-inviting MTT play. If you want to capitalize on the calculated risks Ive just outlined, you
are going to have to be able to change your tactic seamlessly and subtly on a moments notice.

Heres what Im talking about....

Adjust your aggression. When youre playing loose you want your opponents to think you are playing

tight. When you are playing tight you want your opponents to think youre full of it. Keep them guessing; as long
as theyre the ones guessing, youre the one with the best bet.

Adjust your style. Play a lot of hands against weak tables. Wait for strong hands and play straight and

solid when youre up against the tough ones. Weak tables will let you get away with more moves whereas
strong players are likely to see through your play and call you on it.

Adjust according to your stack size. The bigger your stack and the closer you are to the money or big

pay jumps, the more pressure you can apply to other big stacks who wont want to bust to you. (This strategy
is one of the reasons its so useful to build up a big stack.) If you are the 2nd or 3rd biggest stack, be aware of
where the other big stacks are AND HOW THEY ARE PLAYING THOSE STACKS. Not everyone with a big stack
knows how to use it properly.

Adjust to the bubble. When people tighten up to get into the money, you should be loosening up to take

advantage of your increased fold equity.

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Recap:
In the earliest stages of MTT play we focused primarily on playing a tight and solid approach. We identified weak
players and took advantage of their mistakes, but otherwise, weve been playing a generally conservative game.
Up to this point, we have had the luxury of patience and reserve since there has been so little in the pot relative
to our stacks. We have been willing to wait for the best spots to get involved in the action. In this stage we were
somewhat risk-averse when it came to extremely close spots because we could expect to have a large edge in

CHAPTER 4. LATE STAGE PLAY

deep-stack post-flop situations.

Once we reached the middle stages, antes kicked in and average stacks became shallower. As a result, we
had to implement a more aggressive, risk-inclined strategy. Winning the blinds and antes, or re-stealing from
an opener served to give us a much greater gain (percentage wise to our stack) and with other players quickly
losing flexibility in their play, having a big stack to wield was a lot more useful than it was when everyone had
the luxury of playing patient. As we approached the bubble and players got tighter (wanting to bust less; that
last longer strategy), we ramped up the aggression to the extreme.

Now that were in the money everything changes, and your strategy will have to change as well. Sure, youre
guaranteed a payout, but youre still a far cry from the finish line. Our goal is to get to that final stretch, ideally
with a reasonable chance of winning the race. As with all stages of MTT play, part of your strategy is variable
and will depend on your opponents and other tournament factors (e.g. payout structure). The main thing to
remember is that if your chances of winning or of making those top 3 spots are already very high, then you
should be less inclined to take close gambles. If however, it isnt looking very likely that you will make it to the
end you should welcome gambling opportunities. Staying in the game and moving up in pay shows very little
value compared to the great value of potentially getting a big payday. In this position, you have everything to
gain and nothing to lose.

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With this in mind, lets get acquainted with our late-stage objectives. While some of these are similar to our
goals in earlier stages, it is important to keep in mind that there are subtle and vital nuances that make these
objectives late-stage specific, so read carefully.

1. Read the table. Who is playing actively (playing to win)? Who is playing conservatively (playing to survive)?
Who is capable of 3-betting, 4-betting, 5-betting?

2. React to the table. Steal from the weak/tight players. Sometimes any two cards will do. Your cards only matter
if you end up making it to a showdown and youll probably be able to push these players out before then. This
said, we dont want to put all our faith in probability. Even weak/tight players can bite back in a pinch. Follow
these tips to keep your stack safe:

Dont try to steal when youre likely to get re-shoved on (think 12-24 big blind stacks)

Counter the loose players by playing back with re-raises and use flat calls with hands that play well (think

big suited connectors, broadway hands, and big pocket pairs). Hands like 22-66 should still be folded in general
since they dont play well post-flop unless you are deep enough to set mine (i.e limp or call bets with a pocket
pair in the hopes of hitting a card of the same rank on the flop). Hands that play well after the flop are ones that
will get some piece of the board a good amount of the time (pairs, flush draws, straight draws). Pocket pairs
either make a set, or they dont; there are no really good (or even mediocre) flops for them.

Only engage the maniacs if youre ready to play for it all; they will play back when you play back. This

can give you a great opportunity to play for the chip lead or a very big stack since these players will 4-bet bluff
or 5-bet all-in with marginal holdings. Just keep in mind you still have to hold in those 80/20, 70/30, 60/40
chance spots. If you arent prepared for that variance because you like your chip position or your chances, then

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youre best served to simply avoid them.

3. Build on the final table bubble. The same rule applies anytime a pay jump is on the horizon. Your strategy for
doing this is simple because fear in your opponents is at an all time high. As a result, your fold equity is also at
its highest, and when fold equity is high, good cards arent required to win the pot!

Your second strategy is going to involve putting yourself in a position to win. Tournament pros are judged by
how many wins they get - not how many final tables they make. In order to maximize your ROI you want to give
yourself the best shot at winning or making those top spots. Creeping into the final table and busting out 7-9th
on a consistent basis is unlikely to make you a long-term winner in tournament poker.

In the Money Strategy

Now that weve laid out your general late-stage goals, its time to get specific about the best way to see them
through to the end. Your in the money strategy is not complex, but it does demand focus and determination so
be sure to not only take note of each step, but to thoroughly understand it and commit it to memory. By the time
you make it to late-stage play, you dont want to be fumbling with cheat sheets or struggling to remember your
plan; you want your strategy to be so firmly and seamlessly entrenched into your psyche that its second nature.
The only thing you want to be focused on is the cards and players in front of you. Youre going to do this by
transitioning into CLOSING MODE.

Closing Mode
Once youve made it this far you want to be in control of the tournament, driving the action. Be willing to take
profitable gambles for small portions of your stack, but try not to take big risks that will diminish your flexibility

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and leverage.

Heres how youre going to achieve this:

Strategy # 1: Evaluate. Always evaluate before taking a gamble. Consider your odds of closing the tourney out
if you pass up on this spot, ask yourself how much those odds will increase if you go for it and win. How much
will they decrease if you lose? If you stand to gain more, go for it. If youre going to be much worse off then pass
it over. Its critical to be able to identify where and when to not gamble at this stage of the tournament since the
impact of each decision is magnified when you actually have a decent shot of winning. For example, the odds
of winning a tournament with 2000 people left (even if you are in 1st place) vs. the odds of winning with 20 left
(even if you are in 15-17th place) are very different and these differences must be accounted for before you
act.

You are likewise going to want to evaluate your odds when someone shoves into your blinds or shoves on your
open. What are your chances of winning against their range?

King Ten off suit vs. top

20% of hands
A9 suited vs. top 25% of
hands
Pocket jacks vs. the top
10% of hands

Strategy #2: Thieve and Police. Steal from the weak, police the thieves, but BE AWARE OF YOUR IMAGE and

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BE AWARE OF WHO IS GETTING FED UP AND READY TO ADJUST. You want to be taking a few pots per orbit
if you can get away with it, but you dont want to become the guy that everyone wants to go after, unless of
course you play a if youre not first, your last Ricky Bobby approach and are looking to engage in confrontation
even against the biggest remaining stacks. This strategy can have its upside because if youre 1st and take out
the 2nd place player, you now have a runaway chip lead. Once youre in this position opponents may just sit
back and let you steal and bust out other players so that they can move up the payout structure. Its not such an
awful position to be in; being the only one playing for first while everyone else is playing for second. However,
whether or not the risk of targeting the other big stack is worthwhile really depends on the payout structure and
the type of players remaining in the field. It depends on how significant the money is to them and how much
they care about moving up.

Word to the wise: be careful about attacking the smallest stacks. If a player is in last or near last at this stage,
they may feel its unlikely theyll make the final table and thereby implement a nothing-to-lose approach. If you
think someone is ready to take their chances and take a stand, thats when you actually need a decent holding.

Strategy #3: Go Big on the final table Bubble. Your goal, if possible, is to make it to the final table with a big
stack. This is the single greatest opportunity to put yourself in a position to win. Heres why:

a) youre playing shorthanded, so there are more opportunities to play pots and outplay opponents.

b) the final table is close, pay jumps are looming, people want to make it and many will be much more intent on
moving up than risk elimination so close to their goal.

c) the bigger someones stack, the better their position in the field, the less likely they will want to bust, so
leverage your stack and apply pressure to the players you can bust but cant bust you; put their tournament life

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on the line and instill a bit of good old fashioned fear in them!

Remember that youre trying to maximize your ROI, and this is your chance to set yourself up for a highly
positive one. You may not need to be first, (like in the case of flatter payout structures where getting a stack that
can place you 3-5 will give you a solid payday too), but you always want to aim for the max.

Now that you know what you need to do and how youre going to do it, I want to give you a closer look at the
mechanics of the strategies weve been discussing by showing you why and when to use them. Well start with
our defensive tactics.

DEFENSE ARSENAL
What: Fold Equity.
Why: Because your stack is almost all gone and you need a lifeline.
When: For when youre at the mercy of the poker gods.

As mentioned earlier, fold equity refers to your odds of making your opponent fold their hand so that you can
pick up the pot uncontested. This means no 50% or 30% potential of getting sucked out on by an opponent,
because once theyve folded the hand is over. You cant get rivered if you get your opponent(s) to fold their
hand(s), right?

While the practice is generally only applied in short-stacked scenarios, you should make sure you always have
some level of fold equity so that you will have the opportunity to pick up chips without showdown. Being able to
win pots without showdown is a lower variance way to increase your stack than playing all-in pots where luck is
a major factor. This is why it pays, literally, to be a strong postflop player. Once you get very short-stacked your

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opponents will be priced-in to call your all-ins with any two cards because they are being offered such favorable
pot odds. The same is true when they open the pot and you move all in for say 4 or 5 big blinds. Even though
you may have been playing tight, the odds being offered to your opponent are so good that it would be a
mistake for them to fold any hand. It may be so sick that someone beat your Ace-King with 85 suited, but if the
math was in their favor, the only thing that actually wouldve been so sick wouldve been them folding to your
re-raise.

CHAPTER 5. OFFENCE, DEFENSE

Its of the utmost importance to be aware of your stack size so that you know when you have enough chips
to move your opponent off their hand vs. when they will have the odds to call your all-in bet and gamble with
you. If you lose in a spot where you were a significant favorite, but your opponent was also getting extremely
favorable pot odds, then nobody made a mistake, thats just poker, and sometimes the worse hand pre-flop will
be the best by the river. Your job is to try your best to maintain your stack so that you dont have to put your
tournament life on the line in all-in situations very frequently. The less often you get involved in 80/20s, 70/30s,
60/40s, and 50/50s, the much smoother (and less stressful) your ride to the final table will be.

What: Risk-Reward Ratio.

Why: Because pokers full of tough calls.
When: When you are on the fence about whether to act or back down.

When identifying whether or not its a good time to make a play you want to pay attention to 3 critical factors:

1. How much fold equity do you have? In other words, how many potential hands does your opponent have
in this given situation, and how many of those hands will he fold if you make a move? The percentage youve
identified is your fold equity, and its how often your move will work uncontested. The higher your fold equity,
the less important your cards are - especially if youre making a non-all in bet where your cards do not matter,

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because you can fold if your opponent decides to play back.

2. How much will you chip-up relative to your stack? The more you stand to increase your stack, the greater
you are increasing your odds of hitting those high paying spots. You should be more liberal in making plays
if you can increase your stack 40% or 50% without showdown than if you were only looking at a 5% or 10%
increase. The amount you stand to gain also serves as backup if you get called on an all-in bet. After all, it is the
OVERLAY that the pot is offering when you get all-in, so if you manage to win the race you dont just double your
stack, you double your stack plus whatever dead money is trapped in the middle (i.e. the blinds, antes, raises
that people made and then folded). Even if you only have a 40% chance of winning when called, but you stand
to triple up, then you are making a long-run mathematically profitable play. Its like playing a game with a 5 sided
dice, where you only win on 2 of the 5 numbers but, when you win you get paid $2 and when you lose you only
have to pay out $1. See the profitability now?

3. How will your odds of placing well in the tournament be affected if your move doesnt work? You always
need to consider that a play may not be successful. Even if you think someone is opening every single hand
they are dealt, they will still wake-up with a premium hand 5% of the time, and that 5% of the time your play
is not going to work. You should evaluate your current odds of winning the tournament, your odds of winning
the tournament if your play works, and your odds of winning the tournament if the play doesnt work - THEN
see which is more significant. Based on how many players are remaining, the skill level of the field, your chip
position, and the set up of your table, you should be able to get a good idea of your odds of winning. The more
of these factors that are in your favor, the less inclined you should be to take high-risk propositions. Sit tight and
dont push your luck. Also be aware of how much your flexibility will change if the play works or if it fails. You
want to have the right weapons to attack your table.

Remember, in the case of non-all-in bets, when your opponent wakes up with a strong hand, you will have

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to fold and surrender those chips. Your assumption should be that more often than not you are going to be
successful in your play, so youll be making a long-run profit. Recognize that nothing is 100% and that being
off on your timing isnt anything to get upset about - its just bad luck, and its no reason to keep you from
continuing to attempt plays in the future. Youre still in the game and youve still got plenty of play left.

When it comes to all-in bets the situation is very different. If your play works you will chip-up without showdown,
which is an ideal result. However, if your opponent wakes up with a real hand you will be forced to race for all
your chips (sometimes as a significant underdog). This said, just because you got called doesnt mean you are
eliminated from the game. As I just pointed out, nothing is 100%. Even if your odds are slim, recognize that if
you catch lightning in a bottle and win the race you will get a full double up plus whatever dead money was
in the pot. 20% or 30% may seem like pretty long odds, but if youre taking those odds for a ton of chips, that
may mean that 1 time out of 5 or even 1 time out of 3 you are going to have a very, VERY good chance at taking
first place. And based on how much more money is awarded to 1st place than any other position, this will easily
make up for all the occasions where you get caught and dont win the all-in pot.

What: Pot Equity.

Why: Because sometimes youve just got to call.
When: When the odds are in your favour but you want some reassurance.

Winning poker tournaments isnt just about getting it in with the best hand; mind you, it isnt a bad strategy (ask
Phil Hellmuth). Winning poker tournaments is about being willing to gamble when the odds are in your favor.
Its perfectly fine to get your money is as a 3:2 underdog when the pot is laying you 2:1 odds, or even as a 4:1
underdog if the pot is laying you 8:1 odds. Think about it: when youre in the big blind and someone moves allin for 2 big blinds, you would call without even looking at your cards because even if they held pocket aces, a
random 2 card hand still has about a 20% chance to win, and the pot is laying you over 4:1 odds if antes are in

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play.

When you know what range of hands someone is moving all-in with (be it open shoving all-in, re-raising all in,
or cold 4 betting all-in) you can calculate the odds that your hand has against all the hands they could possibly
have. Given that you also know the odds the pot is laying you, its pretty easy to identify when you need to call
all-in bets with hands like pocket 5s, King Jack off-suit or Ace 2 suited. Your opponent may call you a bonehead
when you crack his big pair with just a ragged ace, but if you were getting better than 2:1 pot odds you made a
profitable call - and thats just against your opponents particular hand. If you took his entire range into account
you probably made a great call - but dont bother telling him that.

So good odds, good to call, right?

Not necessarily. Tournaments are a very complicated form of poker involving many variables and sometimes the
potential downside of losing a mathematically profitable spot is too heavy to warrant taking on the risk. Anytime
you fold you are saying no thank you to variance and sometimes youll be such a favorite to win anyway that
the last thing you want to do is put a good chunk of your destiny in the hands of fickle Lady Luck.

When deciding whether or not to make a move you have to consider a couple of things. Just because you have
an appropriate stack size for a specific play doesnt mean its worth trying to execute. Your likelihood of being
successful will depend on both how many players are left to act, and what types of players are left to act. As
weve discussed in previous chapters, loose wild players are capable of thwarting your efforts by playing back
with much more hands than tight players, who will only play back when they are dealt a strong hand.

Weve also gone over the importance of image, and it is just as important when calculating your pot equity. Even
if the odds are in your favour your table image and recent activity at the table will determine whether or not your

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opponents think you are making a play because you got dealt a good hand, or because you are trying to steal.
When you have a tight/solid image you can get away with more steals, when you have a loose/reckless image
you are more likely to run into counter aggression. In other words, your image will impact your odds, so create
and use it wisely.

Image is powerful, but the degree to which it factors into your odds fluctuates with these factors:

a) some opponents wont be playing deep poker and as such, they dont care about or account for other players
images;

b) first impressions are most important and some players will never deviate from their initial assumptions about
you;

c) people are much more apt to remember what happened 5 minutes ago than 5 hours ago.

Your actual cards do make a difference, especially when making plays that involve all-in bets. If youre unlikely
to reach a showdown though, the first two considerations (players in the hand and table image) are much more
important than your cards. Your opponents cant see your cards, after all, and their reactions will be based
on what they perceive you to have, so as you get deeper and deeper stacked and have more opportunities
(i.e. streets of betting) to apply the power of fold equity, your pot equity (which is determined by your cards)
becomes a much less significant factor in the operation.

OFFENSIVE ARSENAL
You cant be on the defence all the time, especially given the longer, drawn out nature of MTTs, so youre going
to have to stand tall and fight for your stack now and then. Fear not, heres a prime offensive arsenal of weapons

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to help you out. Read up on the move and how much youll need to front to make it work.

1. The Move: The Jam

The Investment: 5-20 big blinds.

Get in your opponents face. Im talking open shoving, raising all-in, collecting the blinds, antes and any limps. Be
ruthless, but not careless.

To increase your odds of being successful with the jam, look for these things:

Number of players left to act. The more players left to act, the greater the likelihood that someone has

been dealt a hand they will call you with, and we want folds, not calls!

Weak/tight players left to act who will not want to call with mediocre hands.

Stacks that will be crippled (lose > 60% of their chips) if they call and lose. The more someone stands to

lose (in terms of odds of winning the tournament) by calling your jam and losing, the less likely they will be to call
you, thereby increasing your fold equity. A word of warning: be wary of opening to steal with this stack size. You
will usually have the right price to call someones all-in bet if they come over the top of you, and you dont want
to be putting your tournament life on the line with a mediocre hand. Be patient and wait for your spot.

2. The Move: The Re-Jam

The Investment: 12-24 big blinds.

To re-jam youre going to want to re-raise all-in over an open. Its ballsy, but given the right know-how and

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circumstances, its enticingly profitable. Heres how it works: Someone opens the pot and you move all-in over
the top and collect the blinds, antes and the villains open. Simple as that.

If your opponent is priced in (getting favorable pot odds) then you do not have fold equity and you cannot
re-jam with bad hands. Likewise, the better your opponents odds, and the tighter their range for opening the
pot are in the first place, the more you are limited in regards to what hands with which you can move all-in. This
means the more chips you are jamming (i.e. the higher your risk, while the reward remains the same) the stricter
your criteria should be for moving all-in.

Against very loose players, who will experience a serious dent to their stack if they call you and lose the pot, you
can re-jam every side. In some situations you can re-jam any two cards because:

a) the frequency at which you will succeed;

b) the amount you will gain when your opponent(s) fold is extremely high;
c) any two cards can make a suck-out and get you a full double on the rare occasions that this maniac actually
finds a hand.

Calculating profitability on re-jams:

cEV = (chips we win when villain folds x frequency this happens) + (chips we win when villain calls x
frequency this happens) - (chips we lose when villain calls x frequency this happens)

Dont underestimate the importance of the human element! Notice that a large part of your success with this
play depends on your having been observant of the behaviours of your tablemate(s). How much credit is your
target going to give you for having a good hand.

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Be careful with opening to steal when you are sitting with these smaller stack sizes. Opponents can re-raise
you and leverage your stack, thereby forcing you to either play for all your chips or surrender your steal attempt.
They are effectively betting 5 or 6 chips to apply the same pressure as they wouldve if they bet your entire
stack. When dealing with this stack size, its generally best to only open hands that you are willing to take to the
felt.

3. The Move: Stop and Go

The Investment: 8-12 big blinds.

Stop and go is like a re-jam after the flop. You defend your blind then when the flop comes down you move allin, collecting the blinds, antes and your opponents open (if they fold).

Youre going to make this play when your stack is too short to have fold equity pre-flop (your opponent will call
your re-shove with any hand that they opened with) just make sure you make it against a loose opponent who
will often miss the flop and not be able to call our shove.

Example: The villain who opens JTo or 55 would call our re-raise all-in pre-flop. The flop comes A74 and we
move all-in into them as its pretty hard for them to call.

4. The Move: The Coin-Flip

The Investment: 5-40 big blinds.

A coin-flip is when we call someones all-in or move all-in ourselves and get called. We then play that pot and
hope for the best. To use this move successfully, we want to be ahead of our opponents range OR be getting
favorable pot odds. The gain in our stack size flexibility if you win should outweigh the loss in flexibility if you

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lose. Always look at how the coin-flip will impact odds of winning the event or reaching high paying position.

5. The Move: Blind Steal

The Investment: 24+ big blinds.

To pull off a blind steal you want to raise and try to collect the blinds and antes. The fewer players to get through
(i.e. the better our position), the greater your chances of success. Your opponents player types will also matter
here, as their ranges for defending their blind or calling our raise in position determines how often the steal will
be successful (i.e. loose players play more hands than tight players).

When youre likely to get a fold either pre-flop or with a continuation bet on the flop, your cards really dont
matter. If youre likely to have to play multiple streets of betting then you want to open with hands that can
connect with the flop; the bigger the better. Suited adds a little sweetness, and an ace is always alright.

So, based on stack size and style of other players you have to determine how likely you are to get away with
your steal.

NOTE: It is actually possible to steal on very shallow stacks (as low as 12 big blinds) provided that you will not be
priced-in to call if you get re-shoved on, but it is a pretty high risk play, because you lose a large % of your stack
when your steal is unsuccessful.

PRECAUTIONS for Blind Steals: As your stack gets shorter, any steal attempts should be made with your
absolute worst hands. This is because with your mediocre hands you are better off raising all-in to take your
equity (i.e. actualize your percentage chance of winning by seeing five cards) rather than raising and making a
mathematically bad fold and not realizing any of your equity. Be very, very, very wary when going for a steal with

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under 18 big blinds, as raising and having to fold significantly hurts your stack and your fold equity.

6. The Move: The Isolation Raise

The Investment: 24+ big blinds.

The isolation raise is a great way to single-out a weak player who open limps. Since you are after one player
in particular, you want all other players to fold to your raise. Youre going to be working with the exact same
principles and strategies as the blind steal. The only difference with an isolation raise is that there will be limpers
ahead of you who are less likely to let the steal through, but fairly likely to win with a bet after the flop, so be
take the same precautions as you did in the blind steal to help ensure this move works out in your favour.

7. The Move: The Re-Steal (3 Betting)

The Investment: 28+ big blinds.

To execute a re-steal, you are going to re-raise someone who opens the pot, effectively collecting the blinds, the
antes and their raise. As weve discussed earlier in the book, part and parcel of stealing is policing the thieves.
This is one reason why re-stealing is best done when in position (if we are 3-betting with weak hands our goal is
to get our opponent to fold pre-flop; we do not want to play post-flop). Even when we are dealing with mediocre
hands we want to have the hand over and done with by the flop. You arent looking to get into post-flop battles
with this play, so primarily use this move against people who are not likely to continue when faced with your
3-bet.

As with a steal, the fewer players left the better. You dont want anyone getting a solid spread of board cards
and ambushing you. You are also going to want to use this move against players with shallower stacks since
they have fewer hands to call to see the flop.

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5. OFFENCE, DEFENSE

Once again, you are also going to want to consider your image. The perceived strength of your hand is a big
factor in how often your re-steal will be successful. If your opponent thinks you are very likely to be attempting a
re-steal they may hit you back with a 4-bet, provided they have a big enough stack to do that without committing
themselves.

A player who opens 42 % of hands

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5. OFFENCE, DEFENSE

...will only 4 bet all-in with 8.7% of hands...

Versus this particular player we can expect him to fold to a 3-bet 80% of the time. What % of hands they are
opening with and what % of hands they are willing to 4-bet all in with, combined with the chances of someone
waking up behind with a super premium hand will give you the mathematics of how often your play will work.

As with the steal play, we can technically re-steal with as low as 20 big blinds without being pot committed,
granted our opponent opens to 2 big blinds and we make it 4 or 5 big blinds. On the other hand, it is quite
detrimental to our winning chances when the play fails. If we are 3- betting with anything decent (any pair,
medium ace, any broadway) theres a good chance we are getting correct odds to call off and gamble against
the opponents 4-betting all-in range. When it comes to the 3-bet, were damned if we make a mathematically
poor fold and damned if we gamble for our tournament life with a marginal hand when we could have just folded
pre-flop. Use this tactic wisely.

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8. The Move: The Squeeze Play

The Investment: 28+ big blinds.

The squeeze play is the same as the re-steal (3-bet) except that there is a raise and a call, rather than just a
raise. Your strategy on how to play should likewise be the same, but you will need to know the reward is slightly
higher because of the added dead money that the caller put in the pot. With this in mind, look for a loose
opener AND weak passive caller. You can even look for a tight caller, provided its not a super tight caller (they
actually rarely have a strong enough hand to call a 3-bet, as they would have re-raised those strong hands
themselves rather than calling). The squeeze play is best executed when the flat caller is unlikely to be trapping.

9. The Move: The 4-Bet Re-Re-Steal

The Investment: 40+ big blinds.

Heres how it works: someone opens, someone raises them, we RAISE again! Collect the blinds, antes, the first
players raise and the second players re-raise and enjoy a very hefty heist.

To pull off this smooth move youll need a loose opener and a loose 3-bettor who is capable of 3- betting light.
The best situation is if you have identified a player who is picking on another player and is therefore very likely
to be full of it. Your opponents stack size is important; they have to have stacks where they are capable of
opening light, and a deep enough stack to be 3-betting light. If your opponents have stack sizes where they will
not be making any moves, then making a 4-bet bluff will be both pointless and expensive.

The analysis here is the same as with the 3-bet, except now (because we are putting a fourth bet in the pot),
peoples ranges for continuing will be even narrower. Although we are playing back at two players, they will
usually have to fold anything that is not a top 5% hand (in some cases they will fold all but the top 2 or 3 % of

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hands). So provided they are opening and 3-betting a reasonable amount, we can expect to turn a profit.

The beauty of 4-betting is that we dont have to make it all that big and a success rate of around 50% will
typically show an instant profit (with the bet sizes involved determining the exact breakeven frequency) The
hand will look very strong and will fold out a TON of our opponents range. Again, our image is an extremely
important consideration here and can make or break this move.

GET STACKIN
Youve just been given a solid spread of information, so take your time to let it resonate. Dont feel bad if you
have to read and then re-read several chapters or sections of chapters several times before you can wrap your
head around all of the concepts. Some of them may be completely new to you, after all.

Youre also going to want to keep in mind that if you are reading this guide having never entered any kind of
tournament before, you are probably going to have to try one out before the concepts and theories come alive.
Practice makes perfect, after all. Start with a small online or recreational live tournament; nothing too expensive,
nothing too intimidating just enough to see this knowledge in action off the page and at the table.

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