EV in tournament play

[TheGrifter]

Paul Phillips Said:

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Sorry, I never looked at the specific hand, I was only addressing the theoretical issues. I saw my name being wielded in a thread that also contained those all-too-common, impossible-to-vanquish mistaken arguments:

* survival has some kind of intrinsic value EARLY that justifies giving up appreciable edge (false)
* chips accumulated EARLY are not worth very much because there is so far yet to go (false)

There are lots of matters regarding tournament poker that are still under serious debate but I don't think these are among them. If you don't treat a tournament like a cash game in the early going then you are giving up too much.

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David Sklansky Said:

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You don't make a play based on whether or not it has a positive EV. You make it if the alternatives have a lower EV. (An exception can occur on close decisons if bankroll is a factor.) Thus you may be right to make a negative EV play or pass up a positive one.

If you are much better than most of the field early in a tournament, you should pass up slightly positive EV plays if you have a significant chance of going broke when you make it. Unless you are concerned about hourly rate or there is a juicy side game awaiting. How far you take this concept depends on your edge over the field. Basically if it is a go broke or double up situation, you pass up on the bet if you believe your chances of doubling your stack by folding and playing on is higher than your chances of doubling up by gambling. In the example given, something like the top five percent of the field, skillwise, should fold.

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