GlossaryTournaments

Tournament stage

Where a tournament run stands: early, middle, near the bubble, in the money or at the final table.

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What it means
A run is split into five stages by how many players are left. Early lasts while more than three quarters of the field remains, then middle. Near the bubble starts once the players left would fit the paid places plus one more table, and in the money once everyone left is paid. The final table is the last table of a multi-table run.
How it is calculated
The header shows the current stage, and the end screen adds up EV loss for each one. From near the bubble on, calls and folds facing an all-in are graded with ICM, because busting now costs prize money.
Worked example
In an 18-player run of 6-max tables paying 3, the bubble stage starts with 9 players left, the money with 3 left, and the final table with 6 left.
Why it matters
The right play changes with the stage. Chips are worth the same early on, but near the bubble a big call can risk a pay jump, so knowing the stage tells you how tight to play.

See also: Tournament run, ICM, Pay jump