[ev_slave]

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The un-capped game the way he's describing it should be very low variance. If people are opening for 20BB's just buy in short, pick up a premium hand, push it, be crushing his range.

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Big wins also increase variance. Anytime you're playing for your stack more often in one game than you are in another, variance goes up.

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In my experience the lower the starting stacks compared to the blinds the more often you play for your starting stack. Ever play 1/2 with a $100 max buy in? It's like the final table of an old WPT tourney. AJ = the nuts

Also, I really don't think that statement is true. If you sit in a brad booth game and he open shoves blind for 100BB's and you get to call him for your stack w/ a premium hand you really think a game with repeated situations of that has more variance than a well played game that doesn't necessarily play as big? Your edge has a lot to do with variance too.

I don't know how either of the games OP mentioned play (other than his mention of some very unsound play in the uncapped game). There's nothing theoretical that really supports not stepping into the uncapped game.

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that is trivially true and doesn't really matter. this is an issue of frequency vs. magnitude. you will be shoving more when you are short stacking, but you will be shoving for much more money in the uncapped game if they are playing like maniacs.

assuming your br can handle the swings, if you really believe you have an edge you shouldn't be buying in short. (unless you are extremely risk averse, but then i would say you didn't really have an edge).

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he'd be buying in for the same in either game. his effective stack (at the beginning of the game) would be the same in both. the shoves would be for the same amount.

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Exactly. Except the effective stack would be "smaller" in comparison to other people's stacks in the uncapped game, meaning it gets put in the middle more. Variance goes up. Also, it'll likely get all-in on earlier streets than in an uncapped game. Your edge increases as you see more streets. AA will win over KK something like 4.5:1. So at best your PF equity is ~82%. You can have people putting in money on the turn drawing absolutely dead. That's equity of 100%. So getting your money in on the earlier streets means your edge win putting money in is likely to be smaller. Variance goes up.