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Playing a short stack without panicking

Being short-stacked feels like an emergency, and the instinct is to tighten up and wait for a big hand. That instinct is wrong, and understanding why is what separates players who occasionally cash from players who never do.

The arithmetic of waiting

With 8 big blinds, folding one full orbit at an eight-handed table costs you 1.5 big blinds — nearly 20% of everything you have left. Fold two orbits waiting for aces and you are down to 5 big blinds, at which point almost nobody folds to your all-in and your one weapon has stopped working.

Your all-in has power precisely because it can make people fold. That power decays every hand you sit still. Using a decent hand now is worth more than using a great hand three orbits from now.

What to move in with

Under ten big blinds, from any seat with players still to act, these are all fine:

• Any pocket pair, including deuces
• Any ace
• Two cards jack or higher
• Suited connectors down to about seven-six

From the button or cutoff when everyone has folded, widen further — you only have two or three players left to get through, and most of them will fold.

Why all in rather than a raise

At this depth, a standard raise costs two and a half big blinds out of your eight. If someone calls, you are committed anyway but now you are playing a flop with five big blinds behind and no way to apply pressure. Moving all in removes their chance to outplay you after the flop and forces the decision now, while your hand still has its full value.

One thing to avoid

Do not move all in with a hand you would have folded, just because you are frustrated. The rule is the first reasonable hand, not any hand. Two-seven offsuit is still two-seven offsuit at six big blinds. But do not let one more orbit go by with pocket sixes, either.