Poker Buy-In

There’s quite a lot to consider before buying your seat at a poker tournament, especially if you’re somewhat of a new player who has never tried your luck on the big stage of poker.

This post won’t give you a definite answer about how much money you should spend on buy-ins; rather, we will help you figure out your appropriate buy-in amount for yourself, depending on the factors we’ll explain below.

After that, we’ll tackle other aspects pertaining to buy-ins; including their rules, the different types of buy-ins available and some strategy tips on when to place a buy-in.

WHAT IS A BUY-IN IN POKER?

Whether you’re a cash-game player or a tournament player, the term ‘buy-in’ is surely something you’ve heard about before. The meaning of the term differs from one context to another, so here’s an accurate rundown.

In a standard poker game, the ‘buy-in’ refers to the initial amount of money a player exchanges for chips when they sit down at a poker table to start their session.

In the context of tournament play, the ‘buy-in’ refers to the up-front entry fee paid by each player to start playing at a poker tournament. The buy-in also determines the prize pool that players can win should they ‘survive’ until the very end of the game.

POKER BUY-IN RULES

Of course, there are specific rules that dictate the buy-in amount of any particular poker game or tournament. Buy-ins can range from a minimum of 20 big blinds to a maximum of 250 or more, but this value can vary from one setting to another.

The importance of buy-ins is almost nullified in Limit games, since the amount of money players can bet is limited. On the other hand, buy-ins are extremely relevant in No Limit and Pot Limit games, since the pot value can fluctuate greatly.

TYPES OF BUY-INS

Although there are many buy-in amounts, there are two general types of buy-ins that you should know about: a ‘short stack’ and a ‘deep stack’.

• A short stack usually includes around 50 big blinds or less, and as you can imagine, your chances of winning a big pot are quite low. The reason for it is that players with such a stack will already have put all their money in before the last community card is dealt.
• A deep stack (usually including 100 big blinds or more) brings about much more skill-dependent action post-flop, which increases the potential to win big in the process. In turn, players with deep stacks run the risk of losing more chips than their short-stacked counterparts, so it’s important to evaluate this possibility before deciding which stack to go for.

In order to help you decide what stack size best complements your skill level and gameplay, we’ve provided you with a basic toolkit. Have a look below!

HOW MUCH SHOULD YOU BUY-IN FOR? 3 IMPORTANT FACTORS

Now that you know what a buy-in is and how it works in different contexts, your next step is to identify the buy-in amount you’re comfortable playing with. To do that, you’ll have to keep in mind the three aspects below.

YOUR COMFORT LEVEL AND PERSONALITY

Before getting into the specifics, we’ll preface by saying that you shouldn’t be putting money on the table if you cannot bear to lose it.

Allocating a bankroll to playing at a poker table or poker tournament is a good idea, but if it seems that you won’t be able to afford a proper stack size, it might be a better idea to postpone everything until you can.

Before you sit down at a table or tournament, keep in mind that the money you win can disappear in a heartbeat — either by a bad beat or simply unlucky circumstances.

Moreover, your personality is another factor that should contribute to your decision about which stack size you should go for.

Players who enjoy a lot of exciting action — regularly going toe to toe with their opponents — are better off with a small stack size. On the other hand, patient and methodical players can often do with maximum buy-ins, since it will take a lot for their opponents to pry their stack away.

YOUR SKILL LEVEL

When it comes to deciding the buy-in amounts you’re comfortable with, it depends on where your strengths lie.

Are you a cash-game specialist? Then going for the maximum buy-in (or somewhere close to that) would be more appropriate for you. Having said that, if you haven’t had a successful stint recently and want to take things down a notch, go for a slightly smaller stake; for example, 30-50 big blinds.

On the flip side, if you’re a tournament player with your eyes on the World Series of Poker (WSOP), try to gauge what stack you’re ready to compete with. A good player might start a tournament off with a big stack, whereas newer players might go for a shorter stack.

YOUR BANKROLL REQUIREMENTS

As we’ve mentioned above, the size of your bankroll will inevitably weigh on the buy-in amount you’re comfortable with. Remember it this way: players with deep pockets tend to go for deeper stacks; that is, maximum buy-ins or an amount close to that.

Should you have a smaller bankroll, going for a minimum buy-in tends to be the better course of action.

Keep in mind that although buying-in in cash games and tournaments is different, you wouldn’t want to lose more money than you’ve set aside as your poker budget.

MORE THINGS TO CONSIDER BEFORE PURCHASING A BUY-IN

Whether it is simple poker etiquette, or must-know tips when playing in a poker tournament, read up on these further considerations that you should keep in mind before purchasing your buy-in.

1) DON’T BUY-IN WHILE PLAYING A HAND

Purchasing a buy-in while in the middle of a hand is not always possible in a poker tournament, but when it is, it might be highly frowned upon.

Although more chips via buy-ins is perfectly normal, most dealers do not appreciate nor accept it during a hand you’re involved in.

2) UNDERSTAND HOW TOURNAMENTS PAY PRIZES

The best way to explain how poker tournaments pay prizes is by analysing an example. Let’s say that we’re interested in a tournament that has a player capacity of 50 and an entry fee of €55.

The tournament can be presented as €50+€5, meaning that €50 will go to the prize pool for the eventual winners, while €5 is the rake — the money paid to the house.

Such a tournament would see the prize pool contain €2,500, whereas the rake would stand at €250.

3) IDENTIFY WEAK AND STRONG PLAYERS BASED ON THEIR CHIPS

Deciphering which players are the whales (great players or veterans) and the fish (weak players) is fundamental in any poker game — let alone in a tournament. You can identify which players fall under which category by analysing their chip stacks.

Fish tend to use short stacks (with a small bet placed almost all the time) since they’d want to avoid losing too much money at the hands of other players.

On the other hand, deep stacks are usually indicative of whales, since their strategy would aim to win a large amount of money.

4) CONSIDER THE RAKE

When deciding whether the buy-in amount is worth it or not, take the rake into consideration. Tournaments in which the rake eats into your win amount certainly aren’t unheard of.

For example, let’s take a standard-to-high rake of 10% on an €8 at 200 No Limit. If you have a €40 stack and double-up, you’re only going to be left with a stack of €72 after the rake — which means that 20% of your chips won will be lost in a single hand.

5) AVOID POCKETING YOUR CHIPS AND RETURNING BACK TO THE SAME TABLE

Also known as ‘going south’, this practise is very frowned upon — even at an online table! Most players use this strategy in order to avoid losing their cash in future hands, but this isn’t proper etiquette, and it is sometimes not allowed either.

At an online poker table, a casino might employ specific software that will require you to either buy-in with the same amount you had before or wait a set length of time (usually around 30 minutes) before you can rebuy for a normal amount.