Small stakes tournament poker is one of the most common and popular forms of poker among beginners and professionals alike. However, despite its popularity, understanding the underlying truths and winning strategies can be quite challenging. In this article, we will explore the concept of variance, the equity advantage, expected value, and what makes it difficult to win at small stakes tournament poker. Firstly, let's understand what "variance" means in the context of poker. Variance is a term used to describe the randomness in poker outcomes. It refers to the difference between what a player expects to happen and what actually happens. In other words, variance is what can make a winning player lose at the table. It can be quite frustrating for a player to make a consistent profit every time, and yet be on the losing end due to variance. Therefore, it is crucial for players to be aware of this concept and not take it personally. Secondly, let's discuss the concept of equity advantage. This is a term used to describe the percentage of the time that a player has the best hand. For example, if a player has a 60% equity advantage, it means they win 60% of the time in a given situation. However, it does not guarantee a player will win, as variance can still play a role. This is a key concept to understand, as players often make decisions based on their equity advantage, but fail to account for the variability in poker outcomes. Thirdly, we can't ignore the concept of expected value (EV). In simple terms, EV is the average amount a player can expect to win or lose in a given situation. This is calculated based on the likelihood of various outcomes and their corresponding payout. It is a fundamental concept in poker, as players often make decisions based on maximizing their EV. However, it's important to remember that EV is still influenced by the variance in poker outcomes. Now, let's discuss what makes it difficult to win at small stakes tournament poker. Poker is a game of skill and chance, and the outcomes are often unpredictable. This makes it challenging to consistently win at the game. Moreover, small stakes tournament poker often involves a lot of luck, as the players' skill levels are generally lower in these games. This makes it even more difficult to gain a sustainable advantage over time. In conclusion, while understanding the concepts of variance, equity advantage, and expected value can help players make better decisions at the poker table, it's important to remember that luck played a role in the game. Therefore, winning consistently at small stakes tournament poker is difficult, and patience and adaptability are key elements of this game.