Friday, November 21, 2014

Stack-to-Pot Ratio (SPR), Part One: Introduction

Many Texas hold'em players know when they should push all of their chips in the middle, but few know the mathematical principles behind this decision. If you have a short stack and you look down at a hand like AK, you know that you should try to get all of your money in while your hand is most likely the best. What many players don’t know is how to plan commitment around hands which, while often overlooked, is a fundamental part of the game. This is where the idea of stack-to-pot ratios comes into play.

So, what is stack-to-pot ratio? In its simplest terms, stack-to-pot ratio is the size of the effective stack divided by the size of the pot on the flop. An effective stack is the smallest stack that is involved in a hand. If you are playing a pot heads-up and you have $200 in your stack, but your opponent only has $100, the effective stack is $100 because you cannot win or lose any more than that amount, so basically you’re only playing a stack of $100 as well. The whole idea behind the stack-to-pot ratio is to balance your risk versus your reward. We’ll look at a quick example to start and then we’ll go more in depth.

Say we’re playing a $1/$2 cash game and we raise with A♥A♦ in middle position. The button calls and both blinds fold. The pot is now $15 and both our opponent and we have effective stack sizes of $100. Our SPR looks like this:

6.67 = 100/15

So what does this mean? Essentially it means that you are more committed to your hand, but this is based on a number of variables such as the way your opponent plays, their range, the texture of the board, and what you consider to be your maximum SPR. If the flop comes out 8♠9♠T♠, then we may have some problems. If our opponent moves all-in here, it’s easier to find a fold because we only have one pair with no draw to the flush on a highly coordinated board. Although an SPR of under 7 is generally easier to play, we need to know why this is true.

Lower SPRs means less decisions after the flop. Let’s use the same example as above but change the flop. Let’s say it comes out Q♠3♥7♣ and our opponent moves all-in. We still have an SPR of 6.67 with an overpair and not a whole lot to worry about, so we should be willing to call, especially against a looser player. As previously stated, stack-to-pot ratio is a way to balance your risk versus your reward. On a flop like this, we should be willing to risk $100 to win $115 on a queen-high board.

In this entry we’ve looked at the introduction to small SPRs; in the next section we’ll look at how playing high SPRs will change the commitment around your hand and how you should play them.

As always, questions and comments are welcome.



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