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If we had the luxury of never needing to worry about running out of chips, perhaps we would have passed 🎅 up on the marginal opportunity that faces us in favour of a much stronger situation.

Unfortunately, this is not how tournament 🎅 poker works. We can’t go around playing individual hands in isolation. We have to seriously consider something that isn't a 🎅 factor for cash game players - our tournament life.

The best decision at a tournament table is always going to take 🎅 into account the effective stacks and the blind-levels. We are interested in how “healthy” our stack is relative to the 🎅 blinds, which will help to dictate our strategy. If only there was a formula we could use to help us 🎅 calculate this...

Actually, there is – it’s commonly referred to as “M-ratio” or just “M” for short.

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