What does the "M-ratio" mean in poker tournaments?

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What does the "M-ratio" mean in poker tournaments?

In tournament poker, the "M-ratio" is a concept that aids players in determining the size of their stack in relation to the blinds and antes. It gives a figure that indicates how many rounds a player can go without playing a hand before their stack runs out. Players can base their decisions on the M-ratio on their stack size and the tournament stage.

The M-ratio is calculated and applied as follows:

The M-ratio is determined by subtracting the small blind, big blind, and all antes from the player's current chip stack. M = (Stack Size) / (Small Blind + Big Blind + Antes) is the equation.

Interpretation: The number of rounds (or orbits) is represented by the resulting M-value.
 
If a player has a high M-ratio (10 or more), they have a large stack in comparison to the blinds and antes, indicating that they have more time to make decisions and play hands. Conversely, a player with a low M-ratio (5 or less) has a smaller stack in comparison to the blinds and antes, indicating that they may need to play aggressively to avoid being blinded out.

The M-ratio can help players make decisions about whether to play hands, fold, or make aggressive moves such as shoving all-in to build their stack. For instance, if a player's M-ratio is low, they may need to call with a wider range of hands to avoid being blinded out, especially if they are in late position. Players with a high M-ratio can afford to be more selective, waiting for stronger hands to play.

It is important to note that the M-ratio is a relative measure, and therefore what is considered a high or low M-ratio will depend on the stage of the tournament. In early stages, an M-ratio of 20 may be considered high, while in the late stages of the tournament an M-ratio of 30 or more may be considered high.

Overall, understanding the M-ratio and how to use it in tournament poker can help players make more informed decisions about how to play their hands and manage their chips as the blinds and antes increase.
 
The M-value, assuming that players post the blinds and antes in each round, gives an indication of how many rounds a player may go without playing a hand. A greater M-value denotes a stronger stack, whilst a lower M-value denotes a more precarious scenario for the player.
 

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