Monday, January 30, 2012

Poker Acronyms – Sorting Those MTTs From SNGs from STTs

Looking through a couple of my favorite boards over at 2+2 today, in my usual irregular look for ideas for new content for my network of sites. After all these years in the poker business I am used to all the acronyms used… what I started wondering is just how much of a barrier these are to players who are brand new to the games – after all, we should be encouraging them, not scaring them away by making poker seem complex and inaccessible.

Well, the poker acronyms are here to stay, so I thought I’d put together a quick post on some of the main ones which relate to tournaments and Sit N Goes… just the main ones for now, explaining every single one could easily be a 3-day long task!

MTT: This stands for multi-table tournament, there are 100’s of variations of size, buy-in level, game and betting structure for these. What the general definition includes is a fixed starting time and prize pool paid out to a percentage of the field based on your finishing position. You can read up on MTT strategy in 100’s of dedicated articles over at SNG Planet.

SNG: This stands for ‘Sit N Go’ and describes a tournament which starts as soon as the designated number of players enter. These can be any size, though the most common games are between 1 table and 5 tables (there are also 180 player games which are a big draw). To add to the confusion of new players, this term if often used by people to describe only the 1-table games.

STT: Here we have a dedicated acronym for ‘Single Table Tournaments’ this is for those 1-table SNGs specifically… unfortunately this one is not as commonly used as many others – shame as it is a little more specific.

+R: If you see this next to the buy-in amount for a poker tournament then this game is a ‘rebuy’, for example $10+R is a $10 entry game, with additional rebuys at $10 and a optional 1st break add-on for $10 too.

ICM: This one is usually used in the context of Sit and Goes… It stands for the ‘Independent Chip Model’ which is a mathematical formula which converts your chip stack into your average win in the game… all else being equal. This is important in making good decisions, especially at the bubble and can not be ignored by serious players.

Sunday Majors or just ‘Majors’: This references the biggest tournaments held at online poker sites, which are usually on Sunday afternoons / evenings. The biggest weekly game of all is the Sunday Million at Pokerstars – which has more than the advertised million in prizes each week. Other sites have big Sunday games with prize pools of between $100k and $300k. If you can not afford the buy-ins for these games, you can always qualify via online satellites.

Well, there are a few cleared up – if you want to learn more about online poker tournaments of all sizes then head on over to SNG Planet today!

GL at the tables, Mark

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