Value (poker)

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In poker, the strength of a hand (how likely it is to be the best according to the rules of the game being played) is often called its value; however, in the context of poker strategy the term is more often used to describe a betting tactic, a bet for value. This bet (or raise) is intended to increase the size of the pot, by inducing opponents to call. A bet for value is in contrast to a bluff or a protection bet (though some bets may have a combination of these motives).

For a bet for value to be correct, a player must have a positive expectation, that is, they will win more than one bet for every bet they put in the pot. Pot odds do not matter in this situation, because the factor here is whether it is more profitable to raise or call, rather than to call or fold. Betting for value can apply to both made hand and drawing hand situations, although in the latter situation it is less often correct, as the drawing hand's chances of winning are generally lower. Many made hands will win the pot more than 50% of the time, therefore a value bet is usually correct, even heads up.

For example, in a game of Texas hold 'em, a player has 8♣ 6♠ with a flop of 9♥ 7♦ 2♣, The player has an open-ended straight draw and so has eight outs (four 10s and four 5s). With 47 unknown cards, the player will make the straight approximately one time for every five times they don't, thus a bet is profitable if six or more of their opponents will call the bet (they will win once (+6 bets) and lose five time (-5 bets) out of every six hands like this, resulting in an expectation of +1 bet). If they think that fewer than six opponents will call the bet, they would lose money and must simply call.

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Poker Family of card games

Poker is any of a number of card games in which players wager over which hand is best according to that specific game's rules in ways similar to these rankings. Often using a standard deck, poker games vary in deck configuration, the number of cards in play, the number dealt face up or face down, and the number shared by all players, but all have rules which involve one or more rounds of betting.

A check-raise in poker is a common deceptive play in which a player checks early in a betting round, hoping someone else will open. The player who checked then raises in the same round.

Protection in poker is a bet made with a strong but vulnerable hand, such as top pair when straight or flush draws are possible. The bet forces opponents with draws to either call with insufficient pot odds, or to fold, both of which are profitable for the betting player. By contrast, if he failed to protect his hand, another player could draw out on him at no cost, meaning he gets no value from his made hand.

A poker player is drawing if they have a hand that is incomplete and needs further cards to become valuable. The hand itself is called a draw or drawing hand. For example, in seven-card stud, if four of a player's first five cards are all spades, but the hand is otherwise weak, they are drawing to a flush. In contrast, a made hand already has value and does not necessarily need to draw to win. A made starting hand with no help can lose to an inferior starting hand with a favorable draw. If an opponent has a made hand that will beat the player's draw, then the player is drawing dead; even if they make their desired hand, they will lose. Not only draws benefit from additional cards; many made hands can be improved by catching an out — and may have to in order to win.

In poker, pot odds are the ratio of the current size of the pot to the cost of a contemplated call. Pot odds are often compared to the probability of winning a hand with a future card in order to estimate the call's expected value.

In the game of poker, opens and raises are considered aggressive plays, while calls and checks are considered passive. It is said that "aggression has its own value", meaning that often aggressive plays can make money with weak hands because of bluff value. In general, opponents must respond to aggressive play by playing more loosely, which offers more opportunities to make mistakes.

Bluff (poker) tactic in poker and other card games

In the card game of poker, a bluff is a bet or raise made with a hand which is not thought to be the best hand. To bluff is to make such a bet. The objective of a bluff is to induce a fold by at least one opponent who holds a better hand. The size and frequency of a bluff determines its profitability to the bluffer. By extension, the phrase "calling somebody's bluff" is often used outside the context of poker to describe situations where one person demands that another proves a claim, or proves that they are not being deceptive.

Betting in poker

In the game of poker, the play largely centers on the act of betting, and as such, a protocol has been developed to speed up play, lessen confusion, and increase security while playing. Different games are played using different types of bets, and small variations in etiquette exist between cardrooms, but for the most part the following rules and protocol are observed by the majority of poker players.

Texas hold em Variation of the card game of poker

Texas hold 'em is one of the most popular variants of the card game of poker. Two cards, known as hole cards, are dealt face down to each player, and then five community cards are dealt face up in three stages. The stages consist of a series of three cards, later an additional single card, and a final card. Each player seeks the best five card poker hand from any combination of the seven cards of the five community cards and their two hole cards. Players have betting options to check, call, raise, or fold. Rounds of betting take place before the flop is dealt and after each subsequent deal. The player who has the best hand and has not folded by the end of all betting rounds wins all of the money bet for the hand, known as the pot.

Slow playing is a deceptive play in poker where a player bets weakly or passively with a strong holding. It is the opposite of fast playing. A flat call can be a form of slow playing. The objective of slow playing is to lure opponents into a pot who might fold to a raise, or to cause them to bet more strongly than they would if the player had played aggressively. Slow playing sacrifices protection against hands that may improve and risks losing the pot-building value of a bet if the opponent also checks.

The fundamental theorem of poker is a principle first articulated by David Sklansky that he believes expresses the essential nature of poker as a game of decision-making in the face of incomplete information.

Every time you play a hand differently from the way you would have played it if you could see all your opponents' cards, they gain; and every time you play your hand the same way you would have played it if you could see all their cards, they lose. Conversely, every time opponents play their hands differently from the way they would have if they could see all your cards, you gain; and every time they play their hands the same way they would have played if they could see all your cards, you lose.

Strip poker variation of poker where players remove clothing when they lose a round as stakes in place of money

Strip poker is a party game and a variation of the traditional poker where players remove clothing when they lose a round. Any form of poker can be adapted to a strip form; however, it is usually played with simple variants with few betting rounds, like five-card draw. Strip poker can be played by single-sex groups or by mixed groups in social situations and intended to generate an atmosphere of fun, and to lighten the social atmosphere by the removal of clothing. Sometimes the game is played to heighten the sexual atmosphere, though the game itself is regarded as non-sexual. Like other adult or adolescent party games, activities besides removing clothing and playing cards might be involved. Strip poker has also been adapted for a person to play alone, either by use of video games or online; and several television shows have been based on the game.

Morton's theorem is a poker principle articulated by Andy Morton in a Usenet poker newsgroup. It states that in multi-way pots, a player's expectation may be maximized by an opponent making a correct decision.

In poker, bad beat is a subjective term for a hand in which a player with what appear to be strong cards nevertheless loses. It most often occurs where one player bets the clearly stronger hand and their opponent makes a poor call that eventually wins with the turn or the river card being dealt in their favor, for example.

Teen patti is a gambling card game that originated in the Indian subcontinent and is popular throughout South Asia. It originated in the English game of three-card brag, with influences from poker. It is also called flush or flash in some areas.

Negative freeroll in poker is when a player does an all-in wager and can only either tie or lose in the hand. A negative freeroll is relatively common in low stakes amateur play, but in higher stakes play allowing a negative freeroll on the final round of betting is a serious blunder.

The following is a glossary of poker terms used in the card game of poker. It supplements the glossary of card game terms. Besides the terms listed here, there are thousands of common and uncommon poker slang terms. This is not intended to be a formal dictionary; precise usage details and multiple closely related senses are omitted here in favor of concise treatment of the basics.

Baduci is a combination of Badugi poker and deuce to seven triple draw, and uses hand values similar to lowball. The pot in this game is split much like high-low split between the best Badugi hand and the best 2-7 triple draw hand. The betting structure and overall play of the game is nearly identical to a standard poker game using blinds. A players' hand contains five cards, where only four cards are used to determine the best Badugi hand and five cards are used to determine the triple draw hand. During each of three drawing rounds, players can trade zero to five cards from their hands for new ones from the deck.

Poker is a popular card game that combines elements of chance and strategy. There are various styles of poker, all of which share an objective of presenting the least probable or highest-scoring hand. A poker hand is usually a configuration of five cards depending on the variant, either held entirely by a player or drawn partly from a number of shared, community cards. Players bet on their hands in a number of rounds as cards are drawn, employing various mathematical and intuitive strategies in an attempt to better opponents.

Draw poker is any poker variant in which each player is dealt a complete hand before the first betting round, and then develops the hand for later rounds by replacing, or "drawing", cards.