Maximizing Value

Poker is as much a game of people as it is a game of cards. Reading people, their thoughts, knowledge level, emotions, and tendencies will trigger better decisions regarding hand selection and betting strategies. Many players play down the importance of reading your opponent with respect to their betting strategies. However, basing your betting strategies on quality reads of the betting strategies of your opponent(s) increases your hand’s equity value. Quality reads not only increase the volume and equity of positive bets, they also enable you to protect vulnerable hands and create equitable bluffing situations. The expectation created by reading situations well and utilizing correct betting strategies based on those reads adds immense value to your end-of-year results.

I was sweating a friend, “Mr. BigD,” as he played a hand in a $40-$80 limit hold’em game at Bellagio. An aggressive player opened the pot with a raise from two off the button, and he was three-bet by a solid preflop raiser on the button. Mr. Solid Raiser wasn’t about to three-bet without a highly substantive hand, even when sitting on the button versus a late-position raiser. He always called two bets unless his hand was of “three-bet value” in his mind, and his mind was of a tight mentality. In the big blind, Mr. BigD peered down to the K J and called the two extra bets. The opener also called.

Mr. BigD’s preflop call was marginal, at best. While strong on its face, it was highly likely to be dominated by Mr. Solid Raiser. A player who plays his hands well can often make profitable calls that weaker players can’t in situations in which their hand value is questionable but the pot is laying them a price. This pot was not laying Mr. BigD that good of a price. To profitably call in such situations assumes the player can successfully get away from it in negative-equity situations and maximize positive equity whenever possible. Proficiency at doing that requires the skills to read your opponent(s) well and select the profitable situations.

Mr. Solid Raiser was a good candidate to play marginal hands against. I knew him to be an easy read and easy to obtain excellent value from. He played his hands in a predictable manner and consistently paid off even when he knew he was beaten. Knowing that, I would have called the two extra bets preflop with the K J, confident that I was correct in calling. However, did Mr. BigD possess the knowledge of his opponent to make his preflop call correct? I was soon to find out.

The dealer flopped the K 10 4, giving Mr. BigD top pair, jack kicker, a three-straight, and three-flush. Many players underestimate the value of having a three-straight and three-flush, but the odds of filling one or the other is around 6 percent, a significant difference in how the hand performs versus other holdings. Mr. BigD correctly checked to check-raise, as Mr. Solid Raiser would bet 100 percent of his range on a flop of that texture. The opener also checked, and Mr. Solid Raiser fired, as predicted. Mr. BigD check-raised, folding the opener. Mr. Solid Raiser rehit it. His three-bet stated to me that he held A-A, A-K, K-Q suited, or 10-10. Mr. Solid Raiser would not three-bet preflop with K-Q off-suit, nor three-bet a check-raise with Q-Q, J-J, A-Q, or A-J. Apparently Mr. BigD did not read the situation the same way as I did, and he four-bet Mr. Solid Raiser, who flat-called.

The turn was a beauty for Mr. BigD, the J, giving him top two pair. He fired into Mr. Solid Raiser, who called the bet. Had he not four-bet the flop with the worst hand, he would have been able to check-raise Mr. Solid Raiser on the turn when both the bets were bigger and his edge was greater. That was a double-bet Mr. Solid Raiser would have called, not being the type ever to lay down a solid hand unless it was stone-cold obvious he was beaten.

The river came the 9, making for a four-straight on the board that any queen would fill. Mr. BigD, fearful of the strong board, checked his top two pair, not looked to pay off a raise. Mr. Solid Raiser checked behind him, turning over A K. There was no question in my mind that he would have called a bet, and if Mr. BigD had bet and gotten raised, was there any chance that Mr. Solid Raiser would have been raise-bluffing? I don’t think so! Mr. BigD could have safely laid down his hand. Also, if Mr. Solid Raiser had bet, would Mr. BigD have folded? I don’t think so!

So, even if there was a small chance that Mr. Solid Raiser held a straight, if Mr. BigD folded when raised he would lose the same amount as if he check-called. However, he would gain a bet by betting when his hand was good and he got called. Once again, Mr. BigD’s read of how the hand would play had cost him equity.

The hand shows that knowing how to read hands affects your betting strategies. Yeah, Mr. BigD won the pot, and there is a lot to be said for that. However, he left a lot of equity on the table that he should have known better than to leave there. Mr. BigD has played many hours with Mr. Solid Raiser and should have known his tendencies. While I don’t always read hands correctly, in this case I was virtually certain that my reads were correct.

Reading hands is the most important weapon in the professional player’s toolbox. It is not only important in determining which hands to play, but is also hugely important in determining the strategies to utilize in playing them. Paying attention and thinking how hands play against your opponent’s range will increase your edge significantly.

Mr. BigD played a marginal hand in a situation he didn’t have the capabilities to read well. While he won the hand, he would be better off folding in those types of situations in the long run. Of course, while he was stacking the chips, he wouldn’t have been amenable to hearing my opinion. So, I just smiled and said, “Nice jack.”

Roy Cooke played poker professionally for 16 years prior to becoming a successful Las Vegas real-estate broker/ salesman in 1989. Should you wish to get any information about real-estate matters — including purchase, sale, or mortgage — his office number is (702) 396-6575, and his e-mail address is [email protected]. His website is www.roycooke.com. You also may find him on Facebook.