A corollary to accumulating chips is not losing them in situations where you’re likely beaten, even when you have a big hand. There are times when circumstances warrant laying down kings pre-flop.
David Chiu’s classic laydown to super-tight Louis Asmo’s all-in 3-bet at the original Tournament of
Making laydowns such as these are highly dependent on the situation. In the first instance, Chiu was certain that the only hand Asmo could have to move in with at the final table over a raise and his re-raise was pocket aces. He was so sure that he turned his kings face up when folding.
Similarly, Matusow and Gordon were aware of how badly Hellmuth wanted to win that WSOP event and correctly reasoned that aces were the only hand Hellmuth could have, given that betting sequence.
Great players make great situational reads that often baffle others. There’s probably no one better at this chip-saving art than Phil Ivey. Ivey is considered by many pros to be the best in the business. In the 2005 Monte Carlo Millions, they were down to two tables of seven each and Ivey, with about 450,000, was the chip leader. With blinds and antes of 2000/4000/500, this hand came up.
Victor Ramdin, a good player who’s been doing well in recent tournaments and is a member of Team Poker Stars, raised to 12,000 from middle position off a stack of around 150,000. Ivey, on the button holding 6 3 suited, called.
When he has position, Ivey calls a lot of raises, knowing that he can often outplay his opponent later in the hand. The pot size was now 33,500. The flop came down: 3-4-5 rainbow.
This was a very good flop for Ivey, giving him a pair and an open-ended straight draw. Ramdin checked and Ivey bet 20,000; Ramdin called. The turn was a jack and both players checked. The river was a 6, giving Ivey 2-pair,
but putting four cards to an open-ended straight on the board. Now Ramdin bet 35,000, just under half the pot. Ivey deliberated for a while, then folded! Ramdin’s hand was 7-7. As Ivey correctly deduced, Ramdin did, indeed, have the straight. Ivey told Ramdin that he folded 2-pair, to which Ramdin responded, “That’s why you’re the best.”
In this instance Ivey correctly reasoned that there was no way Ramdin would bet 35,000 in this situation without having the straight. This money saved is equivalent to winning 35,000 and helped Ivey maintain his big chip advantage. Ivey went on to win this event and its
$1,000,000 first prize.
To make big laydowns, you need to have a good understanding of your opponent’s style and tendencies. At the 100/200 blind level at the main event of a big tournament in London, I raised to 600 pre-flop from middle position with A T and was called by Simon “Aces”
Trumper in the big blind. I’d played with Simon a couple of times before and knew that he was a solid player who’s capable of making big folds. A bit earlier, I saw him lay down AK on a flop of K-7-2 when he was raised on the turn, after betting both the flop and the turn. Sure enough, his opponent showed him a set of deuces.
After Simon called my 600 pre-flop raise, the pot was 1,300. The flop came down: K J 4 .
This is a scary flop. Players should be aware that there’s an increased probability of opponents flopping 2-pair or a straight draw on coordinated flops (two cards in sequence, or with one gap) or flops containing two high cards.
Simon checked and I bet 700; he called. At this point I was sure Simon had at least either a king or jack in his hand (or both) and I was prepared to check the turn when a beautiful queen hit the board, giving me the top (Broadway) straight. Simon checked and I fired in a pot-sized 2,700 bet. Simon called again. A repeat queen came on the river.
The board now read: K-J-4-Q-Q with no possible flushes.
The pot was now 8,100.
Simon pondered a bit, then bet 5,000.
I went into about a two-minute dwell-up. For Simon to call my pot-sized turn bet would have required him to have at least 2 pair, I reasoned. His most likely hands, given the action to this point, were KQ or QJ, although a set was also possible. The queen on the river followed by his well-calculated 5,000 bet screamed of a full house. In fact, the more I thought the hand through, the surer I become that Simon had me beat.
Finally, I turned my hand face up and said, “You’ve got me beat; show me your full house.” Sheepishly, Simon showed me KQ and asked, “Would you have called twenty-five hundred?” I just laughed. Knowing the player and correctly interpreting bets and calls made this play possible. It’s probably not a play I’d have been able to make without having had a line on Simon’s play.
It’s interesting to ponder what I’d have done had Simon moved in or made a smaller bet. In both instances, I’d have been less certain about his hand than I was from the way he played it. The all-in could be a big bluff representing a made full house, while the smaller bet might have been interpreted as a blocking bet. In both instances, I’d have been more likely to call.
Summary
Accumulating chips early in tournaments is an art form.
Some of the key factors are:
• When the blinds are low, play speculative hands trying to flop a big hand. I don’t mind calling standard-sized raises of 2.5 to 4 times the big blind with hands such as small pairs or suited connectors, or limping behind several limpers with unsuited connectors. I’ll call a raise up to 8% of my stack or a touch more. The better my position, the more of my stack I’ll put at risk, but I generally won’t exceed 10%.
I’ll also make small raises in early position with both speculative and big hands. This helps provide deception.
• One way to accumulate chips is to pick up a lot of small pots to which you’re not entitled. Making frequent small bets, raises, and check-raises is an effective early tactic.
• If your game isn’t suited to picking up small pots with
the worst hand, chips can be accumulated by picking up a few big pots. This can be accomplished by a combination of well-timed big bluffs and by betting big with your big hands and getting paid off. In order to be effective, bluffs need to be congruent with the betting action and the board on each street.
• Chips saved are the same as chips won. Folding good hands when circumstances warrant helps preserve chips that have been accumulated.
I definitely consider myself a new-school player. However, and I repeat this several times throughout my comments:
To succeed in tournament poker in the long-run, considering all the different styles you’ll be confronted with, your greatest asset will be your ability to constantly adjust to any and all situations. Always closely monitor your table dynamics, your image, as well as your opponents’ styles and betting patterns; this is how you’ll develop an edge over them.