Introduction

• Variance increases with stack size
  
• Pot control > Protection
  
• New possibilities when playing with a large stack

A lot of your moves (especially all-ins before the flop, bet sizes, bluff induces and value bets) have become standard over time. Your goal is to be all-in by the river and to take your opponent's entire stack when you have a very good hand.

The basic concepts (which you should have mastered by now) focus on playing with a 100 BB stack, the usual maximum buy-in. This article will show you how the conditions change when you have a stack that is significantly larger than 100 BBs.

Being deep stacked means that both you and your opponent have significantly more than 100 BBs in your stacks. The game starts changing significantly once 150 BB stacks come in to play. The variance connected to all of your individual decisions increases as stacks deepen.

We will use 200 BBs as a standard deep stack size in this article and the examples.

Basic principles of deep stack play

Your game depends on a number of factors, including your hole cards, your opponents, hand history and, in hands when you make it to the flop, the board. A glance at the stack sizes (yours and your opponent's) is also just as important.

You know that you have to play differently against short stacks than against full stacks. The same counts for mid stacks, as well. You don't have great implied odds, which means you can't call for set value or play draws profitably. You can also easily go broke with top pair top kicker, since you have less reverse implied odds, as well.

Playing bet/fold on the turn is usually no longer an option. A small stack will probably go all-in after a bet the turn; and you would be pot committed against a mid stack.

Of course, things can always go the other way. You're in a completely different game when you and your opponent both have very large stacks.

A few thoughts on the key points:

The type of opponent you are facing is always a key factor. You should be aware that your implied odds increase with the size of the stacks, which means you can call in position with hands that you would fold with a normal size stack.

Don't change your basic game against decent opponents like TAGs and LAGs. If you start playing marginal hands more offensively and making looser 3-bets, you can expect to face more 4-bets from opponents in return.

4-bet/fold, which would rarely come into question with a 100 BB stack (pure bluffs), is another option with deep stacks; just be careful when doing so (see below).

Doing so would either have you playing for pots too large for your hand, or simply folding in the end. Furthermore, you can assume that your opponent is a relatively good player, since he has no problem sitting at the table with two stacks.

You want to play more offensively against calling stations and poor/weak opponents. Your goal against such players is to get involved in large pots and to then force your weak opponent to make a difficult decision.

You're hoping to either outplay your opponents, or make other deep stacks worry about their money at the table and scare them into folding good hands. Put the pressure on.

As we said above, your implied odds increase with the stack sizes. This makes it possible to call 3-bets for set value, which you normally wouldn't be able to do with a regular size stack.

This principle applies to weaker starting hands, such as suited connectors, suited one gappers, suited aces, etc., as well. You usually wouldn't directly call a pre-flop raise with these hands unless you were sure to have a good read on your opponent. You can often make a profitable call in position after another opponent cold calls; however, it is rarely profitable to do so out of position.

3-betting is an option when you are in position, but this decision should ultimately depend on your opponent. These are drawing hands and you will often have to win without hitting, meaning you can take down the pot with the the pre-flop 3-bet, or with a continuation bet on the flop.

You normally won't hit the board often enough to justify such a call. The reason you can do so: your very high implied odds. You can obviously expect to win more from an opponent with a deep stack. Taking a look at the flop is more profitable than when playing with normal size stacks.

If, however, you have a strong starting hand, you will have to be cautious. Be aware that you are playing for significantly larger pots than usual. With a 100 BB stack you could go all-in with pocket kings on principle.

The same generally counts with AK and QQ when facing very aggressive opponents. The real question, though, is if you really want to go all-in on a coin flip with such a hand. Be aware that you are not the only one risking a lot more on a single hand than usual, your opponent is doing the same, as well, which should lead him to play with a more narrow range of starting hands.

An aggressive player might go all-in before the flop with QQ or JJ for 100 BBs; this, however, is something he definitely should not do with a 200 BB stack. You should wonder what a tight opponent, who rarely raises before the flop and is now 5-betting after you 4-bet with pocket kings, could have. Whereas this would probably be a standard all-in with a 100 BB stack, you could actually find a fold with a 200 BB stack. You will almost always be running into aces.

Variance touches up on our last point. You might normally look for coin flips, but be aware that you will encounter greater variance when playing deep stacked. The player with the best hand won't be collecting two stacks; 4-6 stacks (+) will be making their way to him.

As we said, your opponent will only be willing to invest this much money when he has a really good hand. You should therefore re-think your standard moves. Don't automatically go all-in like you would with 100 BBs when you have an over-pair or perhaps even a set after the flop in a 3-bet pot.

Every decision can end up being twice as expensive. If you're not a big fan of variance and are not absolutely certain that you have the best hand, you can afford to fold and save yourself the headache.

Pot control is more important than protection when you get involved in such pots. You don't want to go broke with top pair top kicker or an over pair on the flop when you're deep stacked. As an emergency measure you can always give free cards and/or fold to scare cards on the turn or river instead of going all-in.

You also have to modify your range and the range of your opponents. An aggressive player might normally raise with a draw, but it's also quite possible that he will only call (and continue playing if he improves) when deep stacked. 200 BB is a lot to risk on a draw (although it can be done).

Most players are less willing to bluff as stack sizes increase. Your opponents' ranges are tighter; they don't want to squander their hard earned stack with a mistimed move.

You won't find a lot of bluffs in such large pots, especially when you're on the turn and the pot has reached substantial size (the usual bluff raises will still be made on the flop, since most players are making standard moves up to this point).

Be careful when trying to induce bluffs. There are a lot of situations, in which you check behind on the turn to induce a bluff and call any bet on the river. Be twice as careful doing so when you are deep stacked.

On one hand, the bets are probably of considerable size by now, and your opponents are less likely to make a large bluff bet on the other. Variance also comes into play again. You may think your opponent will make an all-in bluff on the river, since you showed weakness with your check behind on the turn, but do you really want to risk another 100 BBs to find out if it was a bluff when he does?

You can also consider using aggression to take advantage of opponents' weakness. We aren't taking about an all-in bluff on the river - that would be too expensive. Try bluffing before or on the flop.

Your opponent will probably be thinking about variance, pot control, protection, ect., as well. He is likely to be more cautious when involved in a pot with you. This opens the door for a bluff check/raise, since your opponent won't want to play for a big pot with a marginal hand.

You have better chances at getting a good hand to fold than when playing with 100 BB stacks.

You want to take advantage of the fact that your opponent is scared and knows you could force him to play for a big pot. You also want to avoid a tough decision on the turn with a marginal hand.

Aside from showing aggression on the flop, you can also 4-bet with a weak hand - this won't make you pot committed when you're deep stacked. You can 4-bet/fold against a LAGs that like to raise and 3-bet before the flop.

Your opponents will lay down a lot of hands that are better than yours. You can even 4-bet with 56s if you have a good read and know your opponent likes to 3-bet. If he does decide to push with 200+ BBs, you'll have an easy fold.

Your opponent will only push with a very strong hand, thus your fold equity increases immensely. Since your opponent won't be able to push with many of the hands that he 3-bets with, he will rarely be able to call.

Be careful when you and your opponent are both deep stacked. Reads become a very important part of your game. You should know exactly what kind of opponent you are facing. You have higher implied pot odds before the flop, but also higher reverse implied odds after the flop. You will often find yourself in much too big pots with marginal hands. Expect variance to increase, as you are no longer playing for 2 stacks, but rather for 4 (or more).

Try to get to the river without investing too heavily when you have showdown value. Pot control is now more important than protection; you're better off giving away a free card and/or folding to a scare card than defending a marginal hand at all costs.

Bluffs on the turn are rare, the bets and raises are generally of substantial size by this point. Take advantage of opponents' weakness and be aggressive; 4-bet before the flop and bluff check/raise when you have a read. Throw your weight around and force your opponents to fold.

Remember, folding is always more profitable than going all-in with 2 stacks when in doubt.