Dealing with Our Poker Chip Stack
For instance, we're in an online poker tournament where 5,000 players join in. The blinds are 400/800. Our chip stack is some 10,000 and the hand dealt is an AJ. We're an early player.
Now, when our turn comes, with blinds at 1,200 in the pot, a poker chip stack of 10,000 in a tournament of 5,000 players is not enough. To think, we just have a poker chip stack of a little over 10 times the amount of the big blind. Let's say despite our lack of chips, there are other two players with lesser poker chips stack. This means we still have a good chance of stealing the blinds here.
There's likelihood here that our opponents have weak hands. With our opponents having lesser poker chip stack amounts, we're spared the horror of any of the two bullying us around with their raises and bets. Then they'd probably fold on us with a pre-flop raise. Remember that we should win the blind bets as frequently as possible, more so in a tournament.
And every detail in the above situation - the position, hand, and poker chip stack - all point to a pre-flop raise. However, a pre-flop feeler wager in this scenario is not a bad idea if we fail to, or choose not to opt, for a pre-flop raise. But say, we decide to fold, after thinking that the other players have something stronger. What then, with our poker chip stack?
There's a saying derived from an old poker movie that says: we can't lose what we hesitate putting in the middle, but neither could we win as much. Thus, if we hesitate risking our poker chip stack and fold right away, we cannot hope to make the amount we hesitated with if we had won.
And probably we can in-put here what mindset is needed in this situation. If we had played a ring game, we would have focused on the betting sequence of the opponent and had based decisions hence. But since poker tournaments are fast we don't have much time for reading opponents carefully and call instead of folding.
As a basic principle in tournaments, when we have a poker chip stack of fewer than 10 times the big blind, we better be making money than folding right away. Especially with a strong hand like AJ---except when the tournament is almost ended.
Our poker chip stack is a good consideration in our tournament play. It may tell us when it's time to raise than to fold.