Playing for Value

All men see the same objects,

but all men do not equally understand them.

Intelligence is the tongue that discerns and

tastes them.

- Thomas Terhune

When we use the term "value" in poker, we often refer to the worth or merit of a particular hand with respect to the chances of its winning the pot.

It seems that whenever I play at Hustler Casino in Gardena, California, there is always an outstanding hand that makes a noteworthy point. There are many reasons why I enjoy playing at Hustler. The games are good (lots of action), the dealers are competent and friendly, it's not too crowded and noisy, the tables are comfortably spaced, and it is well-maintained throughout. Additionally, the entire staff is courteous and makes me feel most welcome, the food and food service are excellent - and my hourly win rate there is great.

While playing $3-$6 stud, I was dealt the A 4 in the hole and the Q as my doorcard. I would have folded if the bet was raised or if I expected a raise by a player to my left. Since neither was the case, I called the opening bring-in bet of $1, as did most of the other players.

On fourth street, I was dealt the 4, so I now held the A 4 Q 4. I had just a pair of fours, which was not very exciting, but to make things extremely interesting, the player in seat No. 3, two seats to my right, had a pair of fours on his board. I obviously knew that he could not have trip fours; the best that he could be holding was two pair. He was high on the board and made the maximum bet - $6. The player to my immediate right called.

I had to do some serious thinking at this point. Normally, a small pair on fourth street with another of its rank in an opponent's upcards is a folding hand, as the chance of making trips is very poor. In this situation with both of the other fours out, the best I could reasonably hope for was two pair. Well, I did have an ace in the hole, as well as a queen, and both were totally live; neither an ace or a queen had fallen in the opponents' upcards. I could fold, which was the normal thing to do with the cards I held, but I realized that I had an edge over the other players - and it was very significant: Only I knew that the bettor in Seat No. 3 could not possibly have trip fours, nor could he possibly catch a third 4. Probabilities suggested that the best hand he could make was two pair. (Sure, he might already have two pair and could later make a full house, but that was a remote possibility.) Now, if I were to make two pair, aces up or even queens up, I would almost certainly have him beat. But what about the other players in the hand; they presented a formidable hazard. Any one of them could make a hand that would beat my two pair, should I make it on a subsequent round. My book The Greatest Book of Poker for Winners contains a great strategy for betting after the fourth card, but it doesn't deal with this particular situation, which I'll correct in the next edition. So, in addition to the option of folding, I could raise to try to force out some of my opponents. Ideally, I would like to play heads up against the opponent with the pair of fours on the board.

So, after thinking through the situation, I raised, making the bet $12. Everyone folded except the original bettor and one other player whose upcards suggested that he was drawing to a medium straight; however, he too could be holding a pair or better. On fifth street, I was dealt the K, giving me three diamonds on the board: A 4 Q 4 K. The player in seat No. 3 checked to me. Without hesitation, I aggressively made the $6 bet. Now, I was on a semibluff. I still held only a pair of fours, but my hand could improve to a relatively strong two pair. What's more, my board conveyed strength with three diamonds, K-Q high - especially since I had taken over the betting.

The other player, whose fifth card didn't seem to fit into his straight draw, immediately folded. The player in seat No. 3 studied my board, looked down at his holecards, thought for a minute or so - and folded his hand. The pot was mine!

It wasn't the biggest pot I won that evening, but it was the one that really bolstered my ego. I had planned and executed a beautiful strategy - actually, two strategies: first, the raise on fourth street, forcing out opponents in order to reduce the size of the field, and then the semibluff on fifth street that appeared to be a made flush, to win a pot that I might not otherwise have won had I not realized that my opening hand had special value.

Editor's note: George Epstein is the author of The Greatest Book of Poker for Winners! See his ad in this issue.