Super-Deep in Chips

Adjustments for playing deep-stack no-limit hold'em

"How deep are you?" This query is a common one in no-limit hold'em, and justifiably so. Your stack size in that game has an enormous effect on your strategy. (We are talking about the ratio of your stack size to the size of the blinds, and not the actual stakes of the game.) Most of the typical no-limit player's experience is playing with a stack size of 100 times the big blind, or less, and he often does not adjust properly when playing with deep money. There are major tournaments that begin at $25-$50 blinds when the starting amount of chips is $10,000, or even $20,000. And sometimes when playing in a cash game, you see something like $5-$10 blinds with several thousand dollars in front of a number of players. There is no question that a well-rounded player should know how to handle such a situation. Let's discuss the adjustments you should make when you and your game are super-deep in chips, which I will define as having at least 200 times the big blind, with many of the other players also being in that range.

Here are some of the adjustments that you should make in your game when super-deep in chips:

1. Pay more attention to your position. The deeper the money, the more important position becomes. Every decent no-limit hold'em player understands that position in the game is very important. Very few of these players adjust sufficiently for truly monster stack sizes relative to the blinds. Here are some of my suggestions:

First, be a fanatical folder in the small blind. That little dab you already have in the pot should be totally discounted because of your poor position. Drawing hands are particularly bad, but nothing is so good that it should not be severely demoted due to your poor position.

Second, do not feel obliged to open-raise the pot from early position without a decent-size pair or big suited cards. Yes, A-K offsuit and A-Q offsuit are nice hands, but they seldom win the really big pots. I recommend limping with hands of this nature.

Third, do not raise the pot from the blind with A-K offsuit and A-Q offsuit. Heck, it is dangerous enough to put in a big raise from this out-of-position location with aces or kings.

2. Do not be overconfident in building or playing second-best hands. I suggest that you be particularly leery when considering whether or not to play a suited king. The second nuts is a very expensive holding when deep in chips. You will win quite a few pots with it, but when the big dough is put into the pot with strong betting, it is seldom the third nuts that is in your opponent's hand. Of course, two kings is a far better hand than a suited king, but the same type of thinking should be applied. I have seen good players tell you in print that you should be willing to play two kings for all of your money, and if you run into two aces, you were just unlucky. I believe that to be good advice under normal circumstances; that is, when you have 100 times the big blind, or less, in your stack. For at least 200 times the big blind, the only preflop through-ticket for your entire stack is pocket aces. If you're not looking at 'em preflop, you soon will be at the end of the hand. I also suggest that you stay out of raised pots when holding small pocket pairs. Set over set is a great rarity, but when it happens, you may well get taken down to the cloth. Remember that a big pair is not going to be doubled through when you beat it at 200 times the big blind. In a raised pot, if the flop comes Q-10-4, and you have pocket fours, that preflop raiser who is fearlessly putting money into the pot is not likely to show you a mere pair when all of the dough goes in.

By now, you may be wondering if having a lot of chips means that you have to go into a shell and play like a complete wimp. The answer is not just "no," but "hell, no." In fact, this deep-stack situation is when the bully shines. People fear a show of strength, because they start to wonder how expensive the hand will be if you really have the monster that your betting indicates. The deeper the money, the more leverage you have. Leverage is the application of extra pressure that's felt beyond the actual money bet, caused by the size of the potential loss for the entire hand. Leverage ends when someone goes all in, because what you see is the amount that needs to be called. With super-deep money, there may be many possible bets and raises before someone is all in. You can actually put at risk only a small amount of money and still put considerable pressure on an opponent through the leverage of your big stack. It is highly unpleasant for anyone to put money into the pot as a call, knowing that another solid-size bet by the opponent on the next betting round will force a fold.

When you have position, you have a big club. A raise puts fear into the opponent. Oftentimes, he has a fair amount of doubt as to whether you really have that good a hand, but mucks anyway, because it is so expensive for him to be wrong. When he is out of position, he realizes that he is going to act first, and that a weak check puts him in a position to have you take the pot away from him. This is far different from having position when calling a bet, as the opponent will have to reveal just how serious he is before receiving information about your hand.

A guy like me, who has a lot of patience in waiting for a good hand (or at least in waiting for a favorable gambling situation), is in a fine position to exploit a tight table image. If I have a drawing hand when in position and someone bets into me, I often put in a raise. Sometimes, the opponent folds; other times, he calls but checks the turn. Here, it helps to be a good reader of opponents. It may be right to take a free card, but maybe another blast will pry the opponent's hand loose. It takes quite a good hand to play back at you and try to raise you off your draw.

To sum up, when you and many of the other players are super-deep in chips, you must adjust your strategy accordingly. Build top-quality hands, be a fanatic about position, and use your leverage to muscle the opponent when he has to act first. In my opinion, there is a huge gap in your poker knowledge if you do not know how to play in a game with deep money. If your reaction when having a lot of money in front of you is to nervously cash out your chips and quit playing, you have no right to call yourself a real no-limit player - and you cannot cash out and quit when in a tournament.