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Jam or Fold

The Jam or Fold strategy is a heads-up strategy for optimizing play in short-stack situations. The following formula is based on SAGE (Sit And Go Endgame, Copyright ©2005 by James Kittock and Lee Jones) and Peter Bro Miltersen and Troels Bjerre Sorensen's A Near-Optimal Strategy for a Heads-Up No-Limit Texas Hold'em Poker Tournament but adjusted to use M instead of big blinds, which is less accurate.

Examples (blinds at 1,000/2,000 with no antes in each case):

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