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BIG-BET POKER CONCEPTS

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Why Play Pot Limit
Comparing Pot-Limit
Poker's Ten
You Playing Style
How Deep Are You
Taking The Initiative
Drawing Hand's
Psychology
Reading The Opponent
The Art of Bluffing
Betting The Bully
No Limit Play
All In Coups

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SPECIFIC POKER FORMS
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Using The Material
Pot-Limit & No-Limit
Big-Bet Hold'em Q/A
Big-Bet Hold'em Q/A 5-10
Big-Bet Hold'em Q/A 11-20
Pot-Limit Omaha
Pot-Limit Omaha Q/A
Seven-Card Stud
Lowball Draw
Key Pot-Limit
London Lowball Q/A
High Low Split
High Low Split Q/A
Strip Deck Poker

 

BUSINESS

        It is common practice in big-bet poker for business to be done when all the money has been wagered and there are still cards to come. This is often called a settlement in Las Vegas. It may be common but it isn’t to be encouraged; it slows down the game and confuses outsiders, or makes them think the game is being carved up.

        Legitimate examples. In Omaha the top is J-10-4. One player has A-K-Q-9 and the  other J-J-5-5. This is so close to even money it makes no difference. The player may decide to split the pot. I once had a made straight on sixth street I seven-card stud poker against Frank Thompson with trips and four to a flush. All the money was in and we had seen many cards, several of them useful to him. We agreed I should take £5000 out of the pot and he £4000, then we would play for the rest. This took about five seconds. This wasn’t permitted practice at the Victoria casino but the manager said, “They’re good friends. Nobody else was ever involved and this is biggest pot of the year. We’ll let it go.” Common-sense on his part. Once two9 players have reached an agreement, it is usually too late to do anything about it. They will simply settle up outside the building once they are told it is illegal. At least this way, everybody knows what is going on. Incidentally, Frank was asked, rather naively, “You’re good friend with Stewart. How come you played such a large pot?” H answered, just as I would have, “It wouldn’t be much of a friendship if mere money came in the way.”

       

Tables have been drawn up, especially for hold’em poker and Omaha (the latter often incorrectly) to show the precise odds of two hands against each other. The underdog may win 40% of the time. Thus the favorite takes insurance against this happening, possibly with a third party. He bets on his opponent, receiving 4-3 odds instead of the correct 3-2. You notice, the third party has doe very nicely, thank you. He has picked up a winning percentage play without being in the pot, perhaps not even in the game at all.
        You are only supposed to be plying if you can afford a loss. Thus the only reason for taking insurance or doing business is if you have the best of it. Other than that, what is the point of shoveling all your money into a pot and then removing much of it after all the action has taken place?


         Another important point is that doing business wastes time. As with other commercial activities, time means money in poker especially if you are paying a table charge. Even if not, life is too short to wait around for two players to decide who has the edge and by how much. In fact, insurance caused pot-limit high-low split Omaha to vanish, so much time and energy was spent on the discussions.

        

One legitimate way to spread the risk, especially in flop games such as hold’em or Omaha poker, is to deal out the pot twice. e.g. all the money is in with one card to come. Then a card is burnt and a card dealt faceup for one-half the pot. This is repeated for the second half. Precise splitting doesn’t have to be done if both players are agreeable. This helps reduce the slings and arrows of outrageous fortune and requires no discussion. You do not even have to see your opponent’s holding before coming to this arrangement. It can even be done in multihanded action pots.


         Some strong players believe no such concessions should ever be made. The weaker player will be more relaxed as they have a chance of saving something from the wreckage. Others consider it desirable to make the weaker player feel at home. I have an ambivalent attitude but tend towards the latter. However I almost never initiate such discussions

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SPECIAL SITUATION
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Tournament Strategy
Shorthanded Play

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GENERAL INFORMATION
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Poker History
Business
Pot-Limit Rules
Dealing Big-Bit Poker
The House Charge
Ethics & Courtesy
Cheating
Internet Poker

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THE ODD'S
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implied-odds-probability-poker.htmlFiguring The Odd's
Percentage Table

Odd's For Hold'em
Special Odd's Table
High-Low or Better

 
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