Profiting From Sit and Go Tournaments
	Why should you play single table “sit and go” or “freeze-out” tournaments? For the same reasons that you play other forms or structures of poker: they are fun to play and you can make money. In addition, they can provide valuable experience for playing in multi-table tournaments.

First, how do they help in playing multi-table tournaments? The big money in a multi-table tournament is paid out at the final table and that is where you want to get whenever you enter a tournament. But, with hundreds or even thousands of entrants, a final table appearance is infrequent. Once you get there, you want to finish as high as possible, since there are typically even greater differences in payouts the higher you get. First place could pay 10-20 times the amount of a 10th place finish. Players with previous experience in playing at a final table have an edge over those with no experience. That is the value of single table tournaments. With the exception that everyone starts with the same amount of chips and not everyone will get a pay-out, a single table tournament will play very much similar to the final table of a multi-table tournament. Thus, single table play can give you the valuable experience you need at the final table of a multi.

Second, what strategies can you employ to profit from single table tournaments? Here is the plan that works for me. I will use a 10 player sit and go format with a total entry fee of $22 ($20 to prize pool, $2 fee) and payouts of 50% for 1st, 30% for 2nd, 20% for 3rd as an example.

1. If you are an average player competing against 9 other average players, mathematically, for every 10 tournaments you enter, you can expect to finish once in each position. That is, you’ll finish 1st once and win $100, 2nd once for $60 , 3rd once for $40 and 4-10 once each for no payout. You’ll have paid $220 to enter those 10 tournaments and you will have won $200. Your “average” play will have resulted in a $20 loss. Therefore, it is clear that you need to be better than average in order to make a profit. You need to finish in the money 3 times out of 9 instead of 10 to essentially break even (actually win $2). If you can finish in the money 3 times out of 8 you will win $24. Therefore, your first strategy is to eliminate 9th and 10th place finishes. You must play conservatively and wait for hands where you have a big advantage while you let 2 other players get knocked out. This probably sounds simplistic or naive, so don't take it too literally. Whenever you are dealt a big hand you have to play it and sometimes you will lose and get knocked out early. So, it is the marginal or "coin flip" situations that you are trying to avoid until 2 or 3 other players are eliminated.

2. The next objective is to make it to the final 3 and get a payout. This is accomplished by variations in your play. If you are one of the short stacks, you will have to take chances. You would like to get to be one of the top 3 stacks. Once that occurs your play is dictated by circumstances. Try to avoid confrontations with the other 2 large stacks unless you have a clear advantage, but press the play against those who are short on chips. Why have I included this interim objective to get to the last 3 rather than taken aim right at first place? The answer is money. Granted, the largest difference in payout is between 2nd and 1st places. In this example 1st will win you $40 more than 2nd. But, $40 is also the difference between finishing 3rd instead of 4th, while the difference between 3rd and 2nd is only $20. So, getting into the top 3 is critical for making a profit over the long term.

3. The final objective is, of course, to win, or at least improve to 2nd. The most important factor is the relative size of yours and your opponents’ stacks, not the actual number of chips, in determining your tactics. For example, your play as chip leader with 80% of the chips would be different from being the chip leader with only 40% of the chips. In the former situation, you can aggressively attack the others since you would still be the leader even if you lost a hand or 2. Or, if the 2 short stacks go all-in against one another you can step aside, watch one get eliminated and still be the overwhelming leader. In the later situation you need to be more careful, since one all-in loss would likely drop you from 1st place to a very short stacked 3rd.