What is the role of "variance" in tournament poker, and how does one manage it?

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Variance in tournament poker refers to the short-term fluctuations in results, caused by the inherent randomness of the game. It can lead to significant swings in winnings and losses, even when playing optimally. Managing variance involves adopting a long-term perspective, practicing sound bankroll management, and focusing on making correct decisions rather than short-term outcomes. Players must accept that losing streaks are inevitable and avoid emotional responses that can lead to tilt.
 
Variance in tournament poker is a crucial concept that every serious player should understand. It refers to the natural ups and downs that come with the game due to the element of luck involved. Even the best players will experience swings in their results over the short term, sometimes regardless of how well they are playing.

Managing variance is essential to succeed in tournament poker over the long run. One key aspect of variance management is practicing proper bankroll management. This involves ensuring that you have a sufficient bankroll to withstand the inevitable downswings that will come your way. Many poker experts recommend having at least 50 buy-ins for the tournaments you play to help navigate through variance.

Furthermore, it's crucial to focus on making correct decisions rather than being results-oriented. In the short term, luck can have a significant influence on outcomes, but over the long term, skill will prevail. By consistently making the best decisions based on the information available to you, you can mitigate the impact of variance on your results.

Another critical aspect of managing variance is emotional control. Variance can lead to frustrating moments, such as losing with the best hand or experiencing a string of bad beats. It's essential to avoid letting these fluctuations affect your mindset and decision-making. Tilt, which is a state of emotional or mental confusion resulting in poor decision-making, can be detrimental to your results. Learning to manage your emotions and stay focused on playing your best poker regardless of short-term outcomes is key to overcoming variance.

In conclusion, understanding and managing variance is essential for tournament poker players looking to succeed in the long run. By practicing proper bankroll management, focusing on making correct decisions, and maintaining emotional control, you can navigate the ups and downs of variance and improve your chances of long-term success in tournament poker.
 
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