Stack sizes play an important role in No-Limit decisions on when we can draw and how much we should bet. The implied pot odds are the direct result of the size of each player’s chip position. Determining how much to bet is in direct relation to how much we need to protect. Sometimes your chip position will drastically impact how you might play a hand. For example, on a given hand in a similar situation, you might raise, call, or fold depending on the stack sizes of each player involved in the hand. This becomes especially true in tournaments as you don’t have the ability to add to your chip position.

Let’s look at a common example in Hold’em and show how stack size will impact our decision. In each example, the only thing we are changing is the stack sizes of the two players.

The blinds are $15-$30 early in a tournament. An opponent raises to $75 and you look down at 44 in late position. You both have about $1K in chips. This is a good situation to call as you have the potential of hitting a set and winning a huge pot.
Let’s assume the same situation occurs again but this time your opponent only has $400 in chips rather than $1000 . In this case, calling is dubious because the maximum implied pot odds is only about 6 to 1 and the odds of hitting your set are 7.5 to 1. The implied pot odds do not justify a call in this situation. Note that I am discounting the possibility of having the best hand. There might be situations against certain opponents where you would either put them allin or see a flop and make a big bet against your opponent on a favorable flop if you feel you have the best hand with 44.
What if your opponent h as $1000 in chips and you only have $400? This is the same situation as above. When looking at implied pot odds you only need to consider the amount of the smallest player’s stack.

Let’s look at one other situation. An opponent raises to $70 and you only have $100 left in chips. In this case you will need to make a move soon as the blinds are going to eat away at your small stack. This might be a good time to gamble and move all-in. Here we are hoping that we are against just two overcards and not a big pocket pair. This hand is an example where we take gambles because of our chip position which we would normally not want to make. Note that we would never make this type of move if we both had about $1000 in chips. In this case, the only time you would be called is when you are a big underdog against a premium pocket pair. An all-in bet with 44 is just too risky when you both hold a lot of chips.

Note how the chip stacks affect each decision. In every hand, the cards were the same but the decision was different as the stack sizes changed in relation to the blinds. In tournaments this type of analysis is critical. A major part of your decision process concerns evaluating your stack size, the stacks of your opponents, and both of these in relation to the blinds. This is a constant thought process going through the minds of the top pros during and after every hand. Stack sizes can also play a role in cash games but it is recommended that you rebuy whenever your stack gets small in relation to your opponents.
Note how stack sizes in relation to the blinds impact the style of play during each stage in a tournament. In the early rounds, players will limp a lot more. You will see a lot of flops and players will often be in drawing situations. In the later stages the blinds are often quite high in relation to everyone’s stacks. In these situations most hands are decided before the flop so drawing hands go way down in value.

When analyzing play, always be aware of how stack sizes impact decisions. The same hand can be played in many different ways depending on how the stack sizes and blinds impact the odds.

Matthew is the author of Internet T exas Hold’em: Winning Strategies from an Internet Pro.