In poker tournaments where there is a “chip-up” process, there is also what I call the “chip-up freebee” for those players aware of it. In most poker tournaments the limits and blinds approximately double each round of play (timed periods), thereby neccessitating the frequent introduction of higher value chips, and the retirement from play of the lower value chips. Thus at the end of certain rounds, all of the current low denomination chips are collected and “colored up”, in such a way that any odd chips (that is, fractions of the next whole number multiple) are “rounded up” to the next higher whole number of the new unit chips.

Anticipation of this “chipping-up” process often creates an opportunity for an enterprising player to use his “extra” chips in certain situations (usually a loose call) at no cost. The existence of this “chip-up freebee” creates a skill dimension which can have a major impact on your chip management during the last few hands of a “chip-up” round.

For example, there you are, playing in a local poker hold’em (or Omaha) tournament where the limits are currently $200 and $400 (play money of course). As you look at your usual seven-four offsuit, an announcement is made that starting next hand the limits will increase to $500 and $1000 (if they had not made the announcement, some of the more astute players might have been keeping track of this time on their watches). At the beginning of this new round, all of the $100 chips will be counted, collected, and retired, and $500 chips will then become the new unit chips. Thus, the dealer will collect all the old $100 chips and “chip up”, that is, any extra chips a player has in excess of multiples of five, are “rounded up” such that either 1,2,3 or 4 extra $100 chips are rounded up to a $500 chip. For example, when this hand is over, if you have thirteen $100 tournament chips, the dealer will exchange them for three $500 chips (note the “rounding up”).

However, since you also would get the same three $500 chips for eleven $100 chips, at this time you have nothing to lose by calling to see the flop (with your 7-4 offsuit), using two of your thirteen $100 chips (as long as you plan to fold any subsequent raise). Hence, you get a free chance to get lucky and catch a couple of good cards in the flop - and get revenge for some of your high card hands that have lost to such junk. But with most flops you simple throw your junk away - at no cost at all to you, since you still will be colored up to three $500 chips. If you do not regularly take advantage of this kind of freebee, you are missing out on a potentially valuable tournament opportunity.

A less obvious extension of the above principle is what I call “getting odd”, and takes place on the round of betting before the chip-up round. Let’s say the current limit is $25-$50, and the next round limits will be $50-$100. Looking ahead, at the end of the $50-$100 next round, they will chip up all the $25 chips to $100 chips. If you have an even number of $25 chips towards the end of the
current $25-$50 round (and you are past the blind at this level), you should expend one “free” $25 chip on some marginal hand that you normally would not
play - thus giving you an odd number of “extra” chips.

Towards the end of the next $50-$100 round, if you have three extra $25 chips instead of one extra chip (note the odd number), you will make yet another “free” two chip call. The whole point is that when they chip up, you will get these chips back. Note that if you have an even number of chips after the $25-$50 round, you will not be able to get the full benefit of the chip-up (hence you might have missed an opportunity).

But WARNING! Keep in mind that the whole idea is to develope potential winning opportunities for yourself - not to get yourself sucked into a losing situation with a bad hand! If the flop presents merely a small amount of winning potential for you, you should routinely fold and “forget the whole thing”. You may send me success stories on how you followed my advice, and flopped trip fours, and went on to win the tournament. However, (especially playing junk hands) we offer no money back guarantees for bad beats.