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Honestly, you would be better off just not using M at all at any SNG level, and instead worrying about ICM and how many bb you have left. There might be a slight use for it if you're playing at Stars and there are antes in the later rounds, but even then it's highly debateable I think.

And no I'm not saying this just because people tend to use M to make silly plays that can't possibly be +$EV, but there is that factor too.

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