This guide is geared towards the average poker player who wants to win at multi-table tournaments (MTTs). There will be five different sections to this guide covering each level of play.
The key to these tournaments is patience. If you fold enough hands, you'll get yourself closer and closer to the final table. Let's talk about what type of bankroll and outlook you should have before embarking on a discussion about multi-table tournaments.
Bankroll for MTTs
You'll learn that my articles preach the importance of bankroll because it's the deciding factor in whether you're a winning or losing player. There's only so much skill one possesses in the game of poker. The key is to limit your losses by playing within your limits. Remember that.
I advise having a pretty big bankroll for multi-table tournaments since you'll lose most of them. Remember, all it takes is one big payday to replenish your bankroll. I play a lot of tournaments with 500 to 1,000 people, and I would say I make it to the final table once in every 10-20 tries. I will share with you my main secrets to winning MTTs shortly, but first I want you to realize how important your bankroll is.
Unless you're rich, you always need to play within your limits. This is because there's quite a bit of luck involved in poker. If I had to guess, I would say that poker is 60% skill, 40% luck. That means on any given day, you could lose your bankroll when playing over your limit. The most important aspect of poker will always be bankroll management. Boring as it may seem, way too many good players lose their bankrolls every day because they step outside of their limits. Bankroll management is serious business.
You're going to have to be patient because tournament play can be almost as boring as watching paint dry. I'm serious. You must be a patient player to win MTTs consistently. You may get lucky from time to time, but to win time and again a player must be patient.
Before even joining the tournament, understand that it's not uncommon to wait an hour to play a hand. Some tournaments, I wait even longer to strike.
MTT strategy requires three key components to be successful:
- Skill (30%) - A player must be skilled in order to win multi-table tournaments. You have to know when to hold'em and when to fold'em. When a tricky situation arises, you'll almost always want to fold more than call. I will get you closer to the final table by teaching you the basics of successful MTT play.
- Discipline (30%) - To win consistently you must have strong mental discipline. Most of the time, you'll be folding because in MTTs folding makes the money. The only tip I can give you regarding patience is to keep yourself occupied. Always try to predict what people have and take each blind level step by step.
- Luck (40%) - Luck is a big factor in MTTs. We can't control this factor at all.
Now that I've introduced the fundamentals of multi-table tournament play, please continue reading the rest of the series in order to obtain a more detailed understanding and a greater knowledge of what it takes to kick butt at MTTs.