I agree with a lot of what's been said, though there are a few key places that I differ. Some of this I'm really just thinking about for the first time, so if anyone finds a gaping hole in my logic, please let me know. It's probably a leak.
Quote:
Originally Posted by zedveron
I am proposing that raise sizes shouldn't relate to the actual blind/ante level, but rather to the average effective stack size at the table. This might mean raising 2x with no antes, or raising 4x with antes.
This is something I do and don't agree with. In general, I have no problem raising 2.5x once the antes go in, regardless of how deep effective stacks are. I think the main reason for this is because I pretty much always start opening a wider range as soon as the antes start to go in. In some ways, I'm starting to think any argument about why raising less is good is more an argument about why broadening your opening ranges is +EV.
As I stated in the random thread that launched this thread, there is also the matter of laying odds. Zed covered this to some extent, but this is a range question at heart. The better the odds I'm laying to win the money in the middle, the less I need to rely on the inherent strength of my hand. This, however, is only true so long as I retain a decent amount of FE w/ my raise. The problem w/ min raising, so far as I see it, is that it loses too much FE. As you lose FE against the blinds, and as you make it easier for others to resteal, the mean hand strength you need open the pot goes back up. In theory, there should exist some optimal raise size that produces the most cEV by maximizing FE with respect to the looseness of the opening range is. It's not just that we want to open as wide a range as can possibly be opened and still be +EV, but that we want to open a range where the cEV of each individual raise multiplied by the frequency of opening produces the highest average return. I have no idea what that optimal number is, as it would change from table to table, but I expect it's somewhere around 2.5x.
Actually, the more I think about it, the more that laying 1 to 1 seems important in this calculation, because of what I've already laid out. While I'm having trouble phrasing this right, it seems as though any movement away from this number will produce diminishing returns, either in terms of fold equity or in terms of opening frequency.
I'll need to think about this more, and no doubt some of what I've said is of questionable merit. Hopefully someone someone better at math/poker/getting a full nights sleep, can help me think this out.
One other thing I'll mention is that BrandiFan, though perhaps not explicitly, seems to allude to the "mysterious inflection point" where tournament strategy shifts (if you don't know why I put that in quotes, go read the 2+2 anthology). Thus, it might be said that effective stacks don't necessarily matter when it comes to determining the right time to start raising less unless they are the primary determinant in change the complexion of tournaments (a claim that would be very hard to prove).
Oh yeah, and one other thing, which is the problem of implied odds. Suffice to say that, since I'm raising a wider range when I'm raising less, the problem of implied odds largely takes care of itself.