You are finally playing in a big time no-limit texas holdem tournament. You've read the books, you've played every weekend for months, and you've worn out your keyboard playing online. You saved for a year for this very experience, and it is more than you could have hoped for. You are terrified and excited to see Daniel Negreanu to your right and Scotty Nguyen directly across the table from you. Very quickly you realize this is the real deal and you are no longer playing with people who ask "what beats what?" As the tournament progresses and the field is whittled away, you are playing well and see that your chip stack puts you somewhere in the middle of the pack. You have struggled against some of the greatest players in the game, but it's time to make another tough decision. Do I want to make it to the money or am I playing to win? For many players, the entry fee for a tournament can play a part in this critical decision. Major tournaments typically cost in the $10,000 range making them financially challenging for the weekend poker player. However, today more and more amateur players are able to join the elite cast of poker professionals by winning their way into a major tournament via satellite tournaments. These satellites allow players to compete for a much lower cost with entry into a major tournament as the top prize(s). If your tournament entry was paid by winning a $100 satellite, you may have visions of being the next Moneymaker and shoot for it all. But, if you are one of the players who saved for a year, the clarity of deciding between winning or a payday may be a little cloudy.

Whichever path you take, understanding tournament strategy can help you make intelligent decisions to reach your goal. Here are a few things to keep in mind:

• Do not feel obligated to knock people out of the tournament. Too often, players with a decent amount of chips call bets with marginal hands trying to eliminate the short stacks. They see the prize money rapidly approaching as players are eliminated and feel it's their duty to keep the process moving. Think before you bet and make calls that are right for you. A bad call or two and you could be the one on the bubble who goes home empty handed.



• Know how to play against the short stacks. Having a large chip stack provides a great opportunity to push around the smaller stacks at the table who are working to stay alive as long as possible. However, at the same time, these short stacks are looking to double through the larger stacks that are playing a little too loose with their new found wealth. Always be aware of the bets made by the short stacks and the amount of chips they have remaining. Don't get caught trying to buy a pot against a player who may be pot committed and forced to toss the remainder of their chips into the pot.



• Understand how to play all-in strategy correctly. In no-limit holdem, there are no rules that state a player may not make additional bets after another player is all-in. In fact, the rules specifically document how to form side-pots so that action can take place. Typically, side pots in all-in situations occur when a player with a strong hand needs to protect it. Sit back and think before starting a side-pot so it doesn't become an unforced error in judgment.
  
  Here is an example:
  
  The blinds are $10,000 / $20,000 and Player 1 goes all in for $50,000. 2 players call and it's your action on the big blind with 9d10d. You also decide to call making it a 4-way hand. The flop comes 8d7cAc and you are first to act. At this point, you have a straight draw and a backdoor flush draw and need help to complete your hand. …Here is where you think before you act. This is not the time to get creative and make a bet representing a powerful hand. Doing so may get other players to lay down a weak Ace or a possible flush draw. Let's say you bet, the other 2 players fold, and the turn and river are Ah3h. You turn over your hand to show nothing as you take back your side pot. Player 1 turns over KdQd and takes the main pot with nothing more than his King-high. Meanwhile, one of the players your raise eliminated indicates that he tossed 5d5c which would have sent Player 1 packing.

Tournament strategy can be tricky, but the rewards of a big pay day make it all worthwhile. Know your goals and know the best way to get there, and you will be much happier at the end of the tournament.