ROY COOKE POKER

“Time equals money” goes the old saying. And it’s true that we exchange our time for money. But with poker our “hourly rate” isn’t a constant. Games have varying degrees of value, both in limit size and quality of opponents.  Additionally, our edge varies with our current abilities.  

  It’s crucial to realize how much these differences affect our bottom line. We play in bad games because we’re stuck. We leave good games because we don’t feel good about blowing back wins. We play when we’re tired, unfocused or emotionally unbalanced for all sorts of reasons. And that time doesn’t equal money; that time equals a waste of time at best. At worst, it’s a quick way to vacationing in Tap City.

So, when you’re playing, continuously evaluate how you’re performing, and how the game is comparative to that performance. If you’ve got a big edge, extend your play. If you don’t, can you improve the situation by moving to a better game, or executing a mental makeover? Or, are you better off leaving and coming back to fight another time?

How you treat these situations may very well determine how you’ll do over time in poker. I’ve seen many a great player, playing two days straight, thinking they can still perform, and losing equity with every minute of play. Furthermore, these types of players tend to burn out, further decreasing their propensity to survive the “test of time.”

So, when you’re playing, make sure you’re putting in “good time.” Time in which you’re playing your best, against inferior competition. If you do that, the “good money” will come!

Odds Are, You Need to Know Them!

A friend playing in a $1-2 NLH game at the Venetian folded an open-ended straight draw for a $65 all-in bet in a $165 pot. Another opponent yet to act had $80 left, though he had raised pre-flop and checked. The board was Tc-9c-4d, and my friend held the QhJh. The way the hand had played made it unlikely an opponent had a flush draw. Also, a queen or jack also might have been good. Getting over 2-1/2 to 1current odds when he was 2-1 against making just the straight, my friend’s fold was terrible.
If you want to play poker well, you need to be able to calculate odds, current odds, “hot and cold” odds and implied ones. If you can’t determine your odds, you’ll make serious errors.
Current odds are the odds that you currently face. If its $30 to call and the pot is $100, your current odds are 100-30 or 3-1/3 to 1.
Hot and Cold odds are the odds your hand will win if either you or your opponent(s) are all-in. Devices such as the online CardPlayer Calculator calculate the odds of how hands fare mathematically against each other.
Implied odds generally are “best guess estimates” of how future bets will impact the price of a given play. If you are currently receiving 3-1 odds on a call, you need to determine how future betting will affect your current price. Implied odds can affect your hand either positively or negatively, depending upon whether you have an edge in the future betting.
When assessing odds, you should calculate/estimate the “effective odds” of the whole equation. If there are multiple streets, you should calculate your odds based on getting to the river and the likelihood of all bets. That said, sometimes you can correctly call only one street, but you must adjust your odds for only that street’s card(s), and not miscalculate by comparing your current odds to the chances you will complete the hand to the river.
Additionally, don’t get confused by the fact that 1 in 3 is the same as 2-1. Different writers phrase odds/ratios using different terminology that is easy to confuse.
Whenever I play, I’m always aware of my current price and know how much money is in the pot. I make adjustments based on any assumptions of risk I may take, such as someone’s raising behind. I then think about my implied odds. Will my hand provide me future value? Or will I have to pay more on the turn? How is the hand likely to play out? A lot of that is “best guess estimates,” but over time and lots of practice, I’ve learned to be somewhat accurate. By calculating my odds in this manner, I acquire a good feel for what is mathematically correct and create better decisions for myself.
This is an oversimplified and short explanation. Learning how to calculate the odds is a necessary fundamental for developing a “feel” of what is mathematically correct. Doug Hull of Red Chip Poker wrote a book, “The Poker Workbook for Math Geeks” that is an illustrated, easy to follow and understand math guide strictly for poker. I recommend it to everyone who needs to improve their poker math. You can get it at http://www.ThreeBarrelBluff.com .
Happy Calculating

Adjusting to Player Types

My previous poker tips were fundamentals, this tip group is more advanced and involves hand reading skills and player reads. Quick tips such as these tend to lump players into stereotypical modes that don’t always fit. So while these plays are good guidelines, there’re not meant to be selected in stone. Nuances arise within players and situations for which additional adjustments should be made.

Too Predictable

Tip #1-Play lots of hands against these players like they were playing their cards face-up. Since you can read them very effectively, you’re going to be able to consistently outplay them. Once again, be aware of and take into account other players in the pot and those to act after you.

Tip #2-These are good players to focus on as once you have a good read on their thinking, you will make accurate high-edge plays against them. So, calculate their reactions and design plays accordingly.

Tip #3-Sit to their left. Your edge on these players is large and you want to be able to make isolation plays and many creative plays against them. Sitting to their left will increase the number of plays you can make against them, many of which are going to be high-edge.

Tip #4-If their predictability is a function of tells. Keep it your secret. Don’t tell others and DEFINITELY don’t tell them!

Adjusting to Player Types

My previous poker tips were fundamentals, this tip group is more advanced and involves hand reading skills and player reads. Quick tips such as these tend to lump players into stereotypical modes that don’t always fit. So while these plays are good guidelines, there’re not meant to be selected in stone. Nuances arise within players and situations for which additional adjustments should be made.

Too Nitty

Players who play too tight require a different strategy than those that are too aggressive or too loose. The next four tips are general guidelines and not meant to be set in stone. Nuances arise in which adjustments must be raised.

Tip #1-Don‘t call their large bets without a big hand that warrants it against a very tight range.  Nitty players are generally fearful of making big bets and when they do, it’s usually the goods. Don’t bestow them value on their big mitts.

Tip #2-Read where they are trying to get in cheap and widen your “squeeze range” They’re not calling, so the “squeeze” has more fold equity. You need to be aware and take into account the texture of any other opponents in the pot and any opponents that might accurately read your “squeezing”

Tip #3-Barrel them off their one pair hands when you can legitimately represent a big hand. The “legitimately” comes from not representing hands which your opponent won’t be able to read you for based on previous actions. The bluffs have to appear to be legitimate holdings to work effectively. You must have appeared to have played your hind in a manner similar to the hand you are representing.

Tip #4-Watch out for creative nits. Some nits are nits because they are scared. Others are nits because their personality is risk adverse, but are smart, creative and good hand-reading opponents. Don’t try to outplay the creative nits, they’ll outplay you over time

Adjusting to Player Types

My previous poker tips were fundamentals, this tip group is more advanced and involves hand reading skills and player reads. Quick tips such as these tend to lump players into stereotypical modes that don’t always fit. So while these plays are good guidelines, there’re not meant to be selected in stone. Nuances arise within players and situations for which additional adjustments should be made.

Overly Aggressive Players

Tip #1-Lay traps. Check more made hands in order to induce bluffs, particularly in short-handed pots. Let them bluff/weak bet their stack off. This is particularly effective on draw-light boards when your opponent reads you for holding fewer calling hands. However, when laying these traps, keep in mind the odds you are offering players yet to act and make sure you’re not offering them good prices to draw out on you. After you have made this play on overly-aggressive opponents to the point where they change their play against you, start betting more of your made hands.

Apply pressure on them with your draws. They’re betting range includes a lot of air/weak hands that will fold to pressure, increasing the value of your semi-bluffs.

Tip #2-Three-bet with marginal hands opponents who will lay down to three-bets. This includes timid opponents and those who raise frequently with weak hands and won’t call your raise without a big hand.  You must make the distinction between those that will lay down and those that won’t. Don’t be chicken! I think this play is a situation where the read on your opponent is more valuable than the content of your hand, though both have merit. That said, don’t three-bet them with hands that are good trap hands. You might want to flat them with AA, but three-bet them with Kc5c. DUCY? You don’t want an overly aggressive players to fold when you have a holding that dominates them, but you do want them to fold holdings that play well against you current holding.

Tip #3-Raise-bluff them more. The value of your bluffs and semi bluffs increases because they’re betting air too often, making their bluffing range wider and their value range narrower. You’ll get plenty of folds, and that may even include the lower part of their value range. This raises don’t need to be sizable, a small amount will do it in cases where air is a big part of your opponents range.

Why are you Betting?

Many people bet whenever they think they have the best hand. But that’s not a sufficient reason to bet. If you think you have the best hand and will get called only by a better hand, then your bet is a loser. Do you understand why? If the only time your bet is called, you lose, it’s a losing proposition, a big losing proposition!

There are three foremost reasons you should bet.

1. Value Bet: You should bet when you have the best hand and you think there is a better than 50% chance that your opponent will call with a worse hand. I’ve oversimplified this in order for you to easily understand the concept. In actuality you should extend your odds to take into account the odds of being raised, how your bet will influence future action or how many opponents, etc. You should also bet when you know your opponent is drawing even if you’re giving him the correct odds to draw out on you. Making them pay to draw is almost always better than checking. A good value bet is when you are a favorite over your opponent’s calling range and any additional risks you assume are not threatening enough to shift the bet into negative EV.
2. Bluffing: You should bet when you feel you have the worst hand and there is a greater chance that your opponent will fold his hand than the price the pot is laying him. For example; if on the final card the pot contains $100, you bet $30 with an abysmal hand, and your opponent will fold more than 30% of the time, you’ve made a profitable bluff. When you’re bluffing, you’re hoping to win the pot uncontested.

You’re semi-bluffing when you bet with more cards to come, hoping your opponent folds, but can still win if you hit your hand. An example would be betting a flush draw with one card to come. You can win it immediately, or, if he calls you might make your flush.

A good bluff is when the percentage of your opponent’s total range that is better than your hand, and is also in his folding range, is greater than the odds the pot is offering him to call. Once again, that’s oversimplified, but it’s still a complicated sentence and you should reread it slowly until you understand exactly what it says. Understanding that sentence will greatly increase your bluffing equity.

3. Betting to deny an opponent equity: You bet with what you think is the best hand and want to deny an opponent his equity. You think your opponent will fold though you may do even better if he calls. But you’ll do better if he folds the hand over giving him a free shot to beat you. An example of this might be betting AK on a flop of 7h-5c-3s when you think your opponent holds QJ. You doubt he’ll call, but betting denies him the equity of catching a queen or a jack. You should bet to deny an opponent’s equity when his folding range still has value and you assume less risk than the risk of giving him a free card.

There are other reasons to bet and many nuances within these three concepts. But it’s important to understand why it is you’re betting and not just blindly tossing in chips on a whim.  So, when you’re contemplating a bet, consider what you are trying to accomplish and ask, “Does the betting strategy fit with the current scenario?”

And if you can justify the bet, don’t be afraid to fire it in!