There's a huge difference between deep-stack no-limit hold'em and restricted buy-in no-limit games. Many players, especially those who favor deep-stack online games, dislike individuals who buy-in for the minimum, win one big hand, and then move on to the next table. Last weekend I watched a similar scenario in a live game. I was sitting in a $500 minimum buy-in game. The blinds were $5 and $10 and I was under-the-gun with some trash hand. Everyone folded to Sean in middle position. He bought in initially for $7,500 and now had just under $10,000 in his stack. He made the standard raise to $50.
Luis, with $5,000 in his stack, called on the button. The big blind was a new player, Harold, who bought in for the minimum. He looked down at his cards and immediately moved all-in. Sean called after a momentary pause and then Luis quickly folded. The board contained five random low cards, Harold showed [Ks][Kc] and took down the pot when Sean, who had [Ah][Jh], failed to improve. Harold played just two more hands, racked up his win, and left the game. Our table then began discussing the negative consequences of the hit-and-run artist.
I stayed silent but I think the criticism of the hitand- run artist is misplaced. Sure, it's frustrating for Sean to see $500 of his winnings taken from the table. However, consider the results from the point of view of Harold.
I didn't tell the table, but I knew it was Harold's first time playing in an unrestricted buy-in game. He was just learning about the deep-stack game, and for now was in somewhat over his head. He happened to get lucky and was presented with a perfect opportunity; his all-in raise to $500 was the right size given the pot and the hand he held at that time.
Consider what could have happened if Harold picked up a raising hand after winning that pot with his pair of kings. Suppose he raised to $50 with AaKf, was called in two spots, and the flop was [Ks][9c][3d]. Then Harold bet $125 after his opponents checked. One opponent folded, but the next opponent raised to $625. Should he call? If Harold started the hand with only $500 he'd have an easy call. But since he would have started this hand with over $1,000, a call-or an all-in re-raise-is definitely debatable.
That's why the hit-and-run strategy is effective. While others are playing deep-stack poker, hoping to flop nut hands, draws to the nuts, or similar hands, the hit-and-run artist hopes for a big hand where he can get his money in as an odds-on favorite. He's not interested in multi-street betting. He just wants his profit for the day. This is an especially effective tactic online because there are so many games available and a hit-and-run artist can make his hit, then run to the next table and repeat the process.
If you're going to take the first steps into a larger no-limit game than you're used to consider buying in for the minimum. You will risk less, and you may be able to play the game on your terms. And if you manage to win one or more big hands you should consider cashing out. If you stick around you will be playing the game on your opponents' terms, and that's usually not a good thing. In poker, hitting and running is an effective means of winning.
