Learn Texas Holdem

I played live poker in a casino for the first time recently, cash games as well as a tournament, no-limit in both cases. Obviously, there's a huge difference between how one plays with cash chips and how one plays with tournament chips...different "typical" pre-flop raises given this or that circumstance, different standards on what kinds of hands to bet, raise, or call, all on top of the obvious monetary difference between cash games and tournament play.

I feel I have some grasp on good tournament strategy (I'm sure many of us who have watched more than their fair share of WSOP and WPT shows and played a little afterward can say that much), but I feel I'm completely lost on how to play a cash game effectively.

I realize this may be a pretty broad question, but, generally speaking, what can you tell us about basic differences between cash game strategy and tactics versus tournament play?

Answer:

That is a broad question. I think the main difference between tournament holdem and cash holdem is that in tourney play, players get away with gambling more. Since there is a limited amount of time forcing everyone to play, the options each player has are limited too. Limited your options makes it easier actually, not harder.

For example, if you have AT and a small stack of chips, you would go all-in in a tournament. You don't have this luxury in a cash game because most likely you'll be keeping a good amount of ammo on the table at times. (You do this so if you have a good hand you can kill them for the maximum.)

Another thing is that each decision in a tournament is based on a number of variables besides how the actual hand is sizing up -- your placement relative to the payout structure, your chip stack relative the blinds, busting a player out, giving a good player chips, etc -- while in a cash game each hand is kind of an independent event. You might think that having all these extra things to think about makes things tougher, but it actually does the opposite.

It kind of reigns you in and forces you to make plays that you wouldn't make in a cash game. An example of this might be going all-in preflop with a small pair. To do that in a tournament is commonplace but doing that in a cash game would be considered a bluff or just bad play.

Back to the time constraints, since the blinds are increasing, you are forced to gamble and play less than optimally. You might argue that it is an even playing ground since all entrants have to gamble like this, but anything can happen in the short term. Luck exists in the short term, not in the long term. The average tournament will probably last a few sessions at max (if we equated this to a live player's game). Anything can happen in three poker sessions.

Am I just saying that tournament play is just pure gambling? No. What I am saying is that even if you are a world class player, you can't expect to always win because you don't have enough time to really show your talent. See, if you challenged a pro basketball player to go one-on-one, he would dominate you everytime. In a poker tournament, you might actually beat the pro once or twice. If you keep playing him though, you would guarantee losing your shirt.

This is why tournament poker is feast or famine. The smallest percentage of poker players are those that make a living from tournaments only. Most pro players play in live games and tournaments.

Cash games give a steady source of income and tournaments add some spice which can pay off big. The risk/reward is so generous in tournaments that you don't have to win often to do well. Next, how you do well in a tournament doesn't translate to doing well in a cash game, but being a good cash game player translates perfectly into playing tournaments.

I would suggest you do play more live poker, even if for nothing else you want to sharpen your tourney play. Part of the problem with tournament play is that unless you are in a tournament, you aren't practicing. With live play, you see tons and tons of hands. Then when you are a in a tournament, many of the things you are thinking about are already automatic and you can focus on the tougher variables.

You mentioned WPT. I remember someone on there being heads up at two events on the final table and losing both of them, partly because the he was inexperienced in heads up play. That to me is astounding. Use live play to flesh out your game - heads up, short handed, full tables, etc. The pace is different and you can't learn this by only playing tournaments.

All of this is going in the direction of playing a more solid game when you are playing in a live setting than when you are playing in a tourney. Because tourney play is in the context of time, you have to loosen up. In a live game you have all the time in the world so there is no reason to get too risky.

No limit holdem does allow players to have more varying styles (unlike limit), but there aren't many long term winners that fall out-of-line too much. Solid play wins. My guess is that if you start beating no limit holdem cash games, you'll do much better in the tourneys.