This concludes discussion of the flexible raising theory from part three of this series. Here are the additional variables involved in being flexible when determining raise sizes:
8) Stack sizes around the table. Later in tournaments, many players at the table may be on the verge of elimination, so comparing your proposed raise to their remaining stack size is important. When the short stacks are in the blinds, this is especially important. Although survival is important, sometimes players have no choice but to realize that they must take a chance for their remaining stack. If they are in that situation, consider whether you are willing to risk that many chips, and maybe more importantly, whether you want to show down a weak hand in an inevitable all in situation. If you are on the button with a tight player in the small blind, and a shortstack in the big blind, you can go ahead and put the big blind all in with a weaker hand (you'll have the pot odds to do it), as long as you understand that showing down a weak hand all in like that will change your image dramatically, and you must be willing to tighten up for the next orbit or two to restore your image.
A common stack size situation later in tournaments occurs when you are on the button or small blind, and it is folded to you preflop. You have the player(s) to your left covered. You have a raising hand, but don't necessarily want to make a decision if you are reraised. In those cases, it is generally better to raise enough to put them all in, maximizing your fold equity and eliminating a potential tough decision from the equation. This can also be helpful in image building or fastplay (with a big hand) situations.
9) Willingness to play all in if reraised. Look at the stacks left to act behind you before raising, and consider the implications of getting reraised all in, whether you have them covered, and what odds you will get on an all in call.
Conclusion
There are many ways to determine proper bet sizes when you are raising preflop with very little information about the current hand. All of them have merits in certain situations, but none of them are truly best for all situations, except the flexible approach, which is really a blend of the other seven styles in the first place. The best method for an intermediate player is probably to use fixed raise sizes (approach three) throughout the tournament, probably three big blinds. As they gain experience, they should then mix in some of the moves outlined in approach six, varying bet sizes based on the current level of the tournament. When this is mastered, then experimentation with the other approaches should be done in the early stages of tournaments or in low buy in tournaments (where the player is completely unconcerned about losing), for the experience. Then, and only then, the player will reach a point where they have the experience to use the full arsenal of raises, as described in approach eight.
Preflop raising isn't everything in tournament play, but it's a lot. Understanding the dynamics of preflop play, including raises, steals, resteals, and the mathematics of hand ranges and all in play, is what sets the best players apart from the rest of the pack. The very best tournament players do not play by the book, but instead remain flexible and aggressive. Having all the necessary tools to do your job is part of being the best. Even Tiger Woods would have a difficult time winning golf tournaments if he was only allowed to play with a sandwedge. So too, good poker tournament players must have the full arsenal of fourteen clubs in their bag of tricks.
In this series:
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