Named after world champion backgammon player Paul Magriel and one of the most important concepts in MTT strategy, the M-ratio is a formula used in poker tournaments to help simplify push/fold decisions. By the end of this lesson, you should have a basic understanding of what the M-ratio is and how to successfully apply it to your overall strategy.
HOW TO CALCULATE THE M-RATIO
Don’t worry, calculating the M-ratio at any given point is actually very simple. First, you need to know that the M-ratio is simply a representation between your chip stack and the current blinds and antes at the table. You’re basically calculating the size of the pot before each hand is dealt so you’ll know how many orbits you can play without voluntarily entering the pot. This makes your decisions easier for moving all-in and the range of hands to do so. If your M-ratio is high, you can afford to wait for stronger hands. If your M-ratio is low, however, your range of hands for going all-in will be much wider.
To calculate the M-ratio, all you have to do is take your chip stack and divide it by the total size of the pot prior to the hand being dealt. For example, you are in MP with 25,000 chips and the blinds are 1,000/2,000 with a 200 ante.
M = 25,000 / (1,000 + 2,000 + 200) = 7.8
M = your chip stack / (blinds + antes)
With an M-ratio of 7.8, you could fold every single hand for almost 7.8 orbits before you’d run out of chips. This equates to around 70 hands at a 9-handed table. Of course, the blinds and antes are likely to increase before then, so keep in mind that your M-ratio can change every few hands. Below, you’ll learn how to apply this information but hopefully you’re starting to see the bigger picture.
APPLICATION OF THE M-RATIO
In his highly acclaimed book Harrington on Hold’em, Volume II: The End Game, poker legend Dan Harrington introduced what is called the Zone System. In his book, Harrington divides a poker tournament into five difference ‘zones’ based on a player’s stack in relation to the blinds and antes (M-ratio). The optimal strategy for each zone varies dramatically, as it should. Here is a loose guide from Harrington’s book:
- M-ratio (20+) – Play your standard TAG/LAG style and continue to build your stack.
- M-ratio (10-20) – Playing small pairs and suited connectors can often be a necessity. Conservative play will have you crippled in no time.
- M-ratio (6-10) – No marginal calls and no room for advanced plays. You should also be the first player in the pot.
- M-ratio (1-5) – Your only move is to go all-in and you’ll probably need to get lucky.
- M-ratio (1 or less) – This is the dead zone because it’s all-in no matter what. You really shouldn’t ever be in this spot.
So, what you’ve learned here is that the M-ratio provides a guide for your style of play according to your chip stack compared to the blinds and antes. However, you also need to consider the M-ratio of your opponents as well! If you see someone short on chips, it should be quite obvious they’ll be going all-in with a much wider range of hands. Likewise, if someone at your table has a big M-ratio, it’s much less likely they’ll be stacking off versus another effective stack without a very strong hand. So definitely take into consideration the M-ratios of your opponents before you decide to enter the pot.
