When you get down to three-handed and heads-up play, the two main factors you need to evaluate are relative stack sizes and your opponents’ playing tendencies. There are typically five different stack-size relationships to consider – we’ll call them stages – and four different opponent types. They are as follows.
Stack-size relationships
Stage 1 - You have a huge chip advantage (5-to-1 or better).
Stage 2 - You have a significant chip advantage (2-to-1 or better).
Stage 3 - You are about even in chips (1.5-to-1 or worse).
Stage 4 - You are at a significant chip disadvantage (2-to-1 or worse).
Stage 5 - You are at a huge chip disadvantage (5-to-1 or worse).
Opponent types
Type 1 - Tight, predictable player (rock): only plays premium hands, only bets when he has something.
Type 2 - Calling station: never raises, just bets or calls bets. Will see virtually any flop and call any bet with any piece of the board or a draw.
Type 3 - Loose, aggressive player (LAG): will raise every hand and reraise substantially with lesser hands than another player might (e.g. Q-T, A-x). There are two types of LAG, one is the all-in specialist, who will simply move all-in every hand, and the other is the player who will just continually fire out pot-sized or less bets and raises.
Type 4 - Tight, aggressive, unpredictable player (shark): this is the player who will mix up his play effectively. There will be times when he is a type 1 player and only play premium hands. There will be times where he will call down a hand and be a type 2 player and there will be times where he is the type 3 player and be relentless in his aggression.
Don’t think about stacks and opponent types as independent factors, but how they work in combination. By weighing up all this information before you act you will give yourself the best chance of navigating your way to the win.
Read part II
Read part IV