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Don’t Throw Your Tournaments Away

by Ed Miller |  Published: Dec 01, 2013


When I first began my poker career, someone asked me an important question. The answer, once I understood it, started me along my path to success. Say you’re playing in an eight-handed $20-$40 stud game with a $5 ante. Except in this game, you’re allowed to buy in for any amount of money, and between hands you can take as much money off the table as you’d like. Under these conditions, how much you should buy in for? If you haven’t heard the question before, think about it for a while before you read the answer below. The optimal buy-in would be $5. Just the ante. Why? In an eight-handed game, each player should win approximately one-eighth of all the hands dealt. All things being equal, everyone wins roughly the same number of pots. If you anted for $5 and you won one-eighth of the time, then after eight hands, ...

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