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Poker Strategy and Smack Talk: Poker Pysche

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    ok. So this is a concept that I wondered about often. It is commonly known that if a poker decision will yield a break-even profit/loss, you are suppose to make that decision. Ive wondered about this when doing my poker homework. And I came to the conclusion that I agree with that, as its best to err on the side of action and aggression in NL hold 'em. What I mean is, if its exactly break-even to throw in 100 bucks in a hand, that you should do it, as even if you lose, you are promoting action by getting your money in the pot. You want to be viewed as a player that isnt scared of action. This helps protect your marginal hands at the table, and reduces players bluffing you. What's the #1 rule? Don't bluff a calling station right? Well ... if your image is of a player that does not shy away from action, this #1 rule is related to the reason why bluffing against you decreases. And people playing you more straight-up makes for better reads, and more profitable poker in general. Now of course im not talking BP poker here, just poker concepts in general.

    So my question is. How much money are you willing to risk at exactly 50/50 odds? Coin flip for money, or high card for money? You get none of the benefits described above for the 50/50 risk. And one not mentuoned above is, that money you win or lose stays on the table, where a coin flip, its gone forever.

    So who risks 10 bucks on high card? 50? 100? 1000?
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      CommentAuthorareaman
    • CommentTimeAug 15th 2008
     
    depends on whats in my wallet
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    This is an interesting idea... for me personally, in the context of some of the things that I did last night.

    Areaman, while trying to be kind of funny, hits the nail on the head. well... sort of... I think all these "coin flip" calls, are contextual.

    I made a lot of bad calls against Tok last night, because historically he tries to bet me out on the river often, I'm usually right to call, and but just wasn't last night.

    Upon re-reading your post... and reading the last question, I still think it's contextual... If I'm up a couple hundred, and it's going to cost me a hundred to call an all in, etc... with no other risk... I might make that coin flip... if it means my whole stack, that's a different story. I think they call that gambling...
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    Definition of gamling:

    Gambling has a specific economic definition, referring to wagering money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Typically, the outcome of the wager is evident within a short period of time.



    So putting any money in any pot is gambling. Putting all of your money in with aces pre-flop is gambling. And this decision shuld not be contextual. Any discussion of expected value, dictates that in a "cash" game, you take the break even odds. in tournament play, it is contextual. In a cash game, you need to be properly bank rolled to play the game you are sitting at. If you make any decision based on how much money you have left, you aren't properly bank rolled, and you are hand cuffing yourself from optimal play.
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    OK, maybe one needs to see past each session, and at the bigger picture. That is a good point.

    While I don't disagree with your definition, in poker, I think of "gamblng" as a time when you choose to make a decision, where the odds are not significantly in your favor.

    Of course, the rub is: the outcome is always uncertain.
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    Yes, donkeeHotee, I agree with your definition of what most people mean when they say they are "gambling" on the poker table. But the margin of profit people feel comfortable with varies greatly. Some players may view being on the better side of a "race" as gambling, yet you can have as much as 10% profit margin holding the pair in that situation. I choose to get my money in knowing I had a 10% profit margin every time. The overcards could be "gambling"? But its rare that any player having a 45% equity in a hand does not have the pot-odds to make his "gamble" profitable as well.

    I have started a thread like this on the old forum i think. the essence at what i am getting at, is also one of the key factors that come into play at a poker table. A player's willingness to accept risk for a marginal expected profit. It really goes to the essence of this game. A risk/reward game. And a good player will learn what the other players threshold for "gamble" is, and use it against them.
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    BTW - I personally am not a gambler outside of poker. I dont play any casinos games, i dont need to play games that I dont have an edge in for money. and when odds are 50/50, whats the point of putting any money in. But I did accept Lucion's offer to high card for 100 last week, as i knew he was just talking it up, and he actullay backed down when i threw my chips on the table.
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      CommentAuthorJohnnyX
    • CommentTimeAug 20th 2008
     
    obv brag post about flipping coins.

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