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Double or Nothing SnGs

Saturday, August 28th, 2010 by Phil

Not too long ago, PokerStars started offering “Double or Nothing SnGs.” In these poker tournaments, half of the players win, and their winnings are equal to double their entry fee for the tournament. If you want to build up a big bankroll, especially if you’re playing lower stakes, then these Double or Nothing SnGs represent a real opportunity.

These double or nothing tournaments start with ten players and end when five players are knocked out. The eliminated players win nothing, while the remaining players win double their buy-in for the tournament. For example, if you buy in for $10, and you go out in sixth place, you win nothing. But if you hang in there and are one of the last five players remaining, then you win $20.

If you play poker well at all, then this type of buy in and win structure is similar to flipping a coin but getting paid more than even money when you win.

If every player in one of these tournaments played with the exact same level of skill, then your expected value for a tournament like this would be negative. You’d have just as good a chance at lasting until the final five as everyone else at the table, and the rake would adjust your winnings negatively so that you’d lose overall.

But not every player in a double or nothing SnG is going to play as well as every other player. So if you can increase your chances of being one of the final five from 50% to 65%, you can be profitable at this type of poker over time. And since these lower stakes players often play poorly, the chances of being able to see this kind of win rate aren’t as unlikely as you might think.

These types of SnGs are also really good for beginning Texas hold’em players. Because the correct strategy is going to involve surviving, tight play is going to be rewarded. So you’ll likely be deciding much of your results preflop. And any experienced Texas holdem player will tell you that preflop strategy is a lot easier than post flop strategy.

If you have a bankroll of 20-25 buy-ins, and you’re a reasonably skilled tournament player who doesn’t tilt often, then you should be able to do very well at these tournaments, with a minimal risk of ruin.

Strategy for these tournaments is similar to most other SnG strategies, but more so. In the early stages, you’ll want to restrict your preflop play to premium hands. But there’s an exception to keep in mind. Some people are playing multiple tables and playing extremely tight. You can adjust your play to take advantage of this by raising these folks when you’re in late position and stealing their blinds.

When the blinds start getting higher, after four levels or so, you’re going to have to loosen up a little bit and take some risks. In order to maximize your chances of survival, you’ll need to steal blinds once in a while. Play aggressively from position, and beware raises from players in earlier position than you are. It takes a much stronger hand to call a raise than it does to make a raise.

During the later stages, especially when you’re on the bubble (meaning there are six players left) you should do anything you can to avoid busting out in sixth place. Unlike other tournaments, in the late stage of a double or nothing SnG, it’s time to tighten up again, not loosen up. You have a sufficient amount of equity in the prize pool that you need to do anything you can in order to avoid busting out.