The Psychology of Poker

A successful poker player must deal with psychology on many levels.

First of all, we must learn our own strengths and weaknesses, avoid playing when mentally unstable and not tilting. Part of using poker psychology is not letting other players get a good read on our playing style. Very loose players need to understand that their bluffs are not going to work all the time because they have no credibility. Very tight players have to realize their bluffs are not going to work because observant players already know what hands they are playing. If you do not mix your style up you will never be able to fool your opponents.

Secondly, we must learn to understand other players, which include detecting opponents tilt tendencies, deciphering tells, and see through bluffs. Many players will tell you bluffing is an art form. It takes heart to make a great bluff. It takes fearlessness to execute a huge bluff. More importantly, it takes impeccable timing to pull off the right bluff. Psychology is used to make money by betting and raising to project strength in a hand which otherwise you would not win.

I personally did not start to win until I made a very difficult and important change to my playing style. When I first started playing I only stayed in for the top 19% (25% at 6max) of starting hands. This is a great way for beginners to learn because you gain tremendous amounts of experience and do not lose much money.

Winning poker is all about the long run. Despite this there is an endless amount of lazy play in the game, where players squander occasional bets hour after hour. Those squandered bets represent a fortune. Every bet is important, as is every action, as is every reason for an action. Conventional "wisdom" is usually wrong. Most players lose, so if you want to win, you often want to do things differently than most players!

I'd Rather Be a Raiser than a Caller by Full Tilt Pro Roy Winston

Unless you have a monster draw or are slow playing a big hand, calling is often the wrong play at the table. In fact, it often times takes a stronger hand to make a call than it does to make a raise.

"You raised with that?" is a question I hear a lot after showing down a hand. You can make a raise with any two cards (sometimes less than that), but it takes a real hand to make a call.

When I’m in late position in an unopened pot and someone in front of me puts in a raise, I’ll always say to myself, "Hey, I was going to do that!" The fact is opening a pot with a raise is a good idea because it puts you in control, while cold-calling a raise is not a great option for a variety of reasons.

First of all is the realization that I am probably behind. I have lost the ability to take the lead and be the aggressor, and perhaps represent a wide range of hands. Re-raising in position is always an option. However, if the initial raiser was pretty strong, I could wind up facing a re-raise, which could mean a decision for a lot of chips. I have now put myself in a bad position and made the first of perhaps many mistakes in the hand.

Now, I’m not saying there aren’t hands I like to call with pre-flop. For instance, I’ll limp with hands like ace-rag suited (because you can make the nuts), small pocket pairs (looking to flop a set), sometimes big pocket pairs (to camouflage the strength of my hand) and suited connectors in position. But, making a bad call is almost always worse than making a bad fold.

When in doubt, listen to that little voice in your head saying "fold, fold, fold." Even if it turns out you were ahead in the hand when you folded, it’s still better than making a bad call and losing even more chips.

It takes a great player to make great lay-downs; you have to occasionally fold a winning hand. If you’re not sure what to do with a hand, ask yourself whether or not this is a good place to get your chips in the pot.

A combination of smart and aggressive play will help you to improve your results. And personally, I’d rather be a raiser than a caller...

WSOP 2009: Even Daniel Negreanu can lose with AA

Fold Equity by Full Tilt Pro Andy Bloch

During the final table of Event #1 at the 2008 WSOP, the $10K Pot-Limit Hold ‘em Championship, I encountered a hand where I had a very tough decision to make. We were about midway through the final table with the blinds at $20K/$40K. I had about $2.2 million in chips when I picked up pocket 10s in middle position. I raised the pot to $110K and was called from one of the blinds by Mike Sexton, who had about $100K less in chips than I did.

The flop came 8-6-2 rainbow, Mike checked and I bet $125K with my over-pair and gut-shot straight-draw. He called, and the turn brought a 7. After thinking for a moment, Mike bet out $365K, and I was left with a very difficult choice. He could have me beat with a bigger over-pair like pocket Jacks or two pair even, or he could just have a draw or something like pocket 9s. So what should I do in this situation? Do I just call now and be faced with another big decision on the river if he bets out again? Do I get away from the hand altogether and fold? The real question is this: if I raise, is there any chance he’ll fold his hand?

All of which brings me to the concept of fold equity. For our purposes, equity can be defined as your chance of winning the pot, or how much you expect to make out of the pot. Therefore, fold equity is the chance you could win the pot because your opponent will fold.

A classic example of fold equity is really any time you attempt a semi-bluff. Say you have a flush draw and one over-card on the flop. Your opponent might not call you without top pair or better, but there’s a good chance that you’re nothing more than a coin flip against almost anything he’s holding. In this case, moving all-in gives you fold equity because you know that your opponent is only going to call you part of the time. Semi-bluffs are so powerful because of fold equity.

You also have a lot of fold equity when you play aggressively pre-flop. Some novice players don't like to raise pre-flop with a hand that they won't call a re-raise with, but an expert player will be raising (and sometimes re-raising) with many hands that aren't a favorite to be best when re-raised. The fold equity can make these marginal hands profitable. Keep in mind, there will be situations where you should fold some of these same hands if there's little chance that you can steal the pot.

Fold equity is also an extremely important concept in tournament play, especially as you approach the bubble. A lot of players tend to play way too tight as they wait for the bubble to burst; many will just try to fold their way into the money. At this point, there may be enough fold equity to play any two cards because your opponents are going to fold such a high percentage of their hands. This concept also applies once you’re in the money (though to a lesser extent), and people are playing tight as they try to make their way up the money ladder to a bigger payday.

This brings us back to my hand against Mike Sexton at the final table of Event #1. Do I call, fold, or raise? Calling will most likely lead me to the same tough spot on the river if he bets out again, especially if an over-card hits. Folding doesn’t seem like the best option because there’s a good chance that I’m actually ahead in the hand (Mike could have a pair with a straight-draw), and even if I’m not ahead I have a decent number of outs and I’m getting better than 2-1 pot odds to make the call. I'm only in really bad shape if I'm up against a straight. If I'm against an over-pair or set, I have 6 outs. If I'm against two-pair, I have 12 outs. So because this is a tournament, because he probably doesn’t want to go broke in this spot, because it’s a very aggressive play with a good amount of fold equity, I decided to move all in. And it worked. After thinking about it for a long while, Mike decided to fold his hand.

Mike made it sound afterwards like he had my hand beat, and I found out later that he did indeed make two pair on the turn with his 7-6. I knew I couldn’t make that play if there was no chance he would fold. If that were the case, I probably would’ve just called or folded. But this bet had a lot of fold equity, so it was a move I just couldn’t pass up.

Fold equity is a very important concept in both ring games and tournaments, but especially in tournament situations like the one I just described. When you consider the fold equity you have in any given hand, you can really start to play some power poker.

How about Quads

She called too fast on the flop....