"Getting all your chips in there" during tournament play
Regarding NL Holdem, I've read a lot around here that you want to get all your chips in the pot while your hand is the favorite. I see that for ring games, but for tournament play, I can't get my head around it, and the reason is this:
Let's say your hand is an 80% favorite on 3 different occasions during a tournament. If you go all-in (and are covered by your opponent) only 3 times in a tournament, even as an 80% favorite each time, there is only a 49% chance you'll survive those 3 hands. If you're a 70% favorite each time, then there is only a 34% chance you'll survive. And at a 60% favorite, there's a less than 22% chance you'll survive.
It seems like "getting your chips" in there in a tourney is not so great if you're covered.
Anyone have any thoughts on this? I don't know if my intuition is off, or my logic, or what. I think that's what makes NL Holdem tournaments so intriguing. Makes for good discussion at the very least.