If you’re following my recommendations on starting hands at no-limit Hold’em (NLHE), then you’re entering the pot with a raise probably 90% of the time. In this lesson, I want to discuss what to do when you’ve done that and several other players call to see the flop. If you think about it, the possibilities are fairly limited, so let me list them and discuss each one in order. If you have raised, a lot of what will happen on the flop really depends upon what position you’re in; a raise from under-the-gun (UTG) is usually perceived as being stronger than one from the Button, for example. Of course, none of what I’m going to cover will apply to each and every hand, but generally it’ll happen enough to allow us to draw some conclusions.
Please note that what I’m talking about here is the time when you enter the pot at a full or nearly-full table (7-10 players) with a raise and all of the other players either fold or just call. Situations where you raise and are re-raised are basically covered by the Starting Hands Matrix and I’ll discuss them somewhere in the future; for now let’s stick with the basic concept. If you raise and all of the other players fold or call, there are two primary situations you’ll encounter when the flop is dealt:
Situation #1. Everyone checks to you and you:
A. Bet
B. Check
C. Check, then call any bet made
D. Check, then raise any bet madeSituation #2. A player ahead of you bets into the flop and you:
A. Fold
B. Call
C. Raise
As you undoubtedly know, the vast majority of the time the other players will check to the raiser – it’s done so often that the saying is a part of poker lore. How you play your hand at that point “talks” to the other players and you need to remember that you might want to “say” something different, which is what we call a bluff.
Let’s talk about bankroll requirements a bit. My advice to you is to have no less than 20 entry fees in your account. So, if you begin with $5+$.50 SnGs (avoid the $5+$1 SnGs that are out there), you should have at least $110 in your account at the poker room where you’ll be playing. I speak from experience; during my worst losing streak, I ended OTM in 9 straight matches! It happens, but that’s poker. Play the SnGs for a while, at least 3 or 4 months and see if you can add to your bankroll, or at least not deplete it. Then and only then, give some thought to playing regular “ring” games of NLHE. Remember, in tournament play (SnG or otherwise) you can lose only your entry fee. In ring games you can lose every $$$ you have on the table. Notice that I said “every $$$ on the table”, not “every $$$ you own.” I suppose you could eventually lose everything at NLHE, but the way it usually works at the on-line poker rooms, you may start at the table with only a set amount, like $25 or $40 in a $.50-$1 game. Having such a rule keeps some clown from coming to the table with $10,000 and going all-in on every hand; it’s just not any fun. By restricting the amount you can start with, they’re also restricting the amount you can lose.
I mention the ring games only because your tournament experience, coupled with a disciplined use of the Matrix you see here, will turn you into a devastating “cash” player. A lot of the poker books out there say, “Great cash game players are often lousy tournament players” and/or vice-versa, but in my experience they’re wrong. Think about it. In a tournament (SnGs or MTTs), the blinds are constantly rising, so you cannot be overly patient and wait to play only good hands. But in a cash game, the blinds remain the same, so you can afford to wait for the premium hands. A lot of “experts” will say playing only premium hands will not get you much action – everyone will fold when you raise – but the “experts” aren’t playing the $.50-$1 games. The turnover of players is huge in those games, so even though 1 or 2 of the other players may think you’re a “rock”, the vast majority will give you plenty of action. For me, it’s now a case of playing the ring games to get the $$$ for the MTTs I’m playing, or for the occasional venture into the $100+ SnGs. In all of my years as an “advantage player”, I’ve never seen a situation as lucrative as playing $.50-$1 NLHE ring games; pound-for-pound, dollar-for-dollar. Sure I know how to make a hundred bucks an hour at Blackjack, but it takes a minimum of $20,000 to do it right. I can easily make $20 an hour at NLHE on a $400 bankroll. That’s a return of 5% an hour, folks!
Okay, one more comment, then let’s discuss the Matrix: Where to play SnGs, MTTs and NLHE cash games. Although I dearly love Party Poker for all of the “soft” competition there, I do not like their SnG format. They’re the ones who charge $1 for the $5 SnG, which is way too much. Their other levels have a 10% fee up to the $50 level and actually less than that at the highest levels. But, and this is a big “but”, the SnGs at Party start with only 800 tournament chips and I think 1000 should be the minimum, at least for those of you just getting into NLHE. The ring games are very beatable, though so I’ve kept my account there. I guess it’s fair to say that I play mostly at Poker Stars, but I also make the rounds to InterPoker, Royal Vegas and Pacific Poker, primarily for multi-table tournaments. PokerStars.com is a good spot, both for SnGs and cash games, even if they don’t advertise here. Fair warning: the competition there is tough, real tough. But their SnGs start you with 1500 chips and the blinds rise slowly (except in their “Turbo” tournaments, which are basically crapshoots), so skill is a definite factor in their tournaments. The cash games are tough, but not impossible and I like that. Besides the $$$, I want a good challenge when I play. But at the end of the month, I ultimately want the $$$ and I’m getting them at Poker Stars. By the way, my “handle” there is Canada Bill. No, I’m not from Canada. Canada Bill Jones was a riverboat gambler who said: “It’s immoral to let a sucker keep his money.” I kind of like that and, because someone else already had Aceten, my usual handle, I went with the Canada Bill approach. Say hello if you see me.
Here is an example that illustrates how the Fundamental Theorem is applied. (This example assumes a familiarity with the basic rules and terminology of holdem.) Suppose you are playing limit holdem and are dealt 9♣ 9♠ under the gun before the flop. You call, and everyone folds to the big blind who checks. The flop comes A♣ K♦ 10♦, and the big blind bets.
You now have a decision to make based upon incomplete information. In this particular circumstance, the correct decision is almost certainly to fold. There are too many turn and river cards that could kill your hand. Even if the big blind does not have an A or a K, there are 3 cards to a straight and 2 cards to a flush on the flop, and she could easily be on a straight or flush draw. You are essentially drawing to 2 outs (another 9), and even if you catch one of these outs, your set may not hold up.
However, suppose you knew (with 100% certainty) the big blind held 8♦ 7♦. In this case, it would be correct to raise. Even though the big blind would still be getting the correct pot odds to call, the best decision is to raise. (Calling would be giving the big blind infinite pot odds, and this decision makes less money in the long run than raising.) Therefore, by folding (or even calling), you have played your hand differently from the way you would have played it if you could see your opponent’s cards, and so by the Fundamental Theorem of Poker, she has gained. You have made a “mistake”, in the sense that you have played differently from the way you would have played if you knew the big blind held 8♦ 7♦, even though this “mistake” is almost certainly the best decision given the incomplete information available to you.
This example also illustrates that one of the most important goals in poker is to induce your opponents to make mistakes. In this particular hand, the big blind has practiced deception by employing a semi-bluff — she has bet a hand, hoping you will fold, but she still has outs even if you call or raise. She has induced you to make a mistake.
While some tournaments offer a mix of games, like H.O.R.S.E. events which combine Hold’em, Omaha, Razz, Stud and Stud Eight or Better and Dealer’s Choice events, at which one may choose from a similar menu of games, most tournaments feature one form of stud or community card poker, such as seven-card stud, seven card high-low stud, Omaha Hold ‘em or Texas Hold ‘em. Both Omaha and Texas Hold’em tournaments are commonly offered in fixed-limit, pot limit, and no limit forms.
Tournament venues
Informal tournaments can be organized by a group of friends; for example, most colleges feature poker tournaments. Casinos and online gaming sites often offer daily tournaments.
However, these are not the only venues. Several World Poker Tour venues are cruise ships at sea. The 2005 World Series of Poker primarily took place in the conference hall of the Rio Hotel in Las Vegas.
Major tournaments
The two largest and most well-known tournaments are the World Poker Tour championship event and the World Series of Poker, held at Binion’s Horseshoe casino in Las Vegas. The World Series has traditionally been featured on ESPN.
The 2005 World Series of Poker was the first held outside of Binion’s Horseshoe Casino, though the final few days of the main event were held in the legendary Benny’s Bullpen. Future tournaments will be held at one of the Harrah’s Entertainment properties; 2005 saw the Rio as primary venue.
Arguably the most publicised European tournament is the Poker Million, which began in 2000 on Sky Sports, following on from the success of the Late Night Poker television show.
A poker tournament is a tournament at which the winners are decided by playing poker, usually a particular style of poker.
Contrast this to a ring game, where the game is ongoing with no formal structure to determine a single winner in a certain length of time.
Types of poker
While some tournaments offer a mix of games, like H.O.R.S.E. events which combine Hold’em, Omaha, Razz, Stud and Stud Eight or Better and Dealer’s Choice events, at which one may choose from a similar menu of games, most tournaments feature one form of stud or community card poker, such as seven-card stud, seven card high-low stud, Omaha Hold ‘em or Texas Hold ‘em. Both Omaha and Texas Hold’em tournaments are commonly offered in fixed-limit, pot limit, and no limit forms.
Tournament venues
Informal tournaments can be organized by a group of friends; for example, most colleges feature poker tournaments. Casinos and online gaming sites often offer daily tournaments.
However, these are not the only venues. Several World Poker Tour venues are cruise ships at sea. The 2005 World Series of Poker primarily took place in the conference hall of the Rio Hotel in Las Vegas.
Major tournaments
The two largest and most well-known tournaments are the World Poker Tour championship event and the World Series of Poker, held at Binion’s Horseshoe casino in Las Vegas. The World Series has traditionally been featured on ESPN.
The 2005 World Series of Poker was the first held outside of Binion’s Horseshoe Casino, though the final few days of the main event were held in the legendary Benny’s Bullpen. Future tournaments will be held at one of the Harrah’s Entertainment properties; 2005 saw the Rio as primary venue.
Arguably the most publicised European tournament is the Poker Million, which began in 2000 on Sky Sports, following on from the success of the Late Night Poker television show.
