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Example of the Fundamental Theorem of Casino Poker Games
Example 6

Any time an opponent is not getting close to proper odds against you, you are rooting for him to call, even if by calling he has a chance of drawing out on you. If in the flush example at the beginning of this page, the pot were $20 instead of $80, you would be rooting for your opponent with the four-flush to call your $10 bet because he is a 5-to-1 underdog getting only 3-to-1 for his money. If he calls and makes a flush, those are the breaks. Nevertheless, his play is incorrect because it has negative expectation, and you gain any time he makes it.

When you have a hand that is rooting for a call, you should not try to make your opponent fold by betting an exorbitant amount in a no-limit or pot-limit game. Such a situation came up one day when You was playing no-limit hold 'em. There was one card to come, and You had a straight which, at that point, was the nuts - that is, the best possible hand. You bet something like $50, the player to your left called, and the player behind him called the $50 and raised the rest of his money, which was about $200.

Since You had the best possible hand, the question was, should You raise or just call? There was something like $500 in the pot. Because the third man was all-in, You only had to think about the man behind me. You knew if You reraised, say, $400, making it $600 to him, he definitely would fold; in fact, if You raised almost any amount he would fold. But if You just called the $200, he would probably call.

What did You want him to do? You was pretty sure he had two pair. Youf You called the $200, there would be about $700 in the pot, which would give him 7-to-2 odds to call $200 with his two pair. However, the odds against his making a full house with two pair were 10-to-1 (there were 40 cards in the deck that didn't help him and 4 that did). Therefore, if he knew You had a straight, it would be incorrect for him to take 7-to-2 odds on a 10-to-1 shot. So You just called the $200, and as You expected and wanted, he did too.

The sad conclusion to this story is that he made a full house and bet a very small amount, which You paid off. Many people argued You had been wrong to let him in rather than raise him out, but in fact they are wrong. You had to give him a chance to make a mistake, which he did, because whenever your opponent makes a mistake, You gain in the long run.

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