27 Jul 2024 continuation bet bluff value bet In this article, we will introduce the concept of betting in poker, which is likely the first action you will learn. Betting might seem simple at first glance, but it is a deep and complex action. Let’s explore the world of betting in poker! What is a Bet in Poker? A bet is the initial wager made during a round. In poker, there are other actions besides betting, such as: Calling (matching the previous bet) Raising (increasing the previous bet) Checking (doing nothing) Folding (giving up the hand) While calling and raising also involve placing chips, in poker, betting specifically refers to the initial placement of money. Let’s look at some examples of betting in practice: Example 1: Bet Suppose you are Player 6. In this street (flop), no one has placed any chips before you. Since you are the first to invest chips in the pot, this action is called a bet. Next, let’s look at raising, which is often confused with betting. Example 2: Raise In this scenario, what action is Player 1 taking: betting or raising? Since Player 6 has already bet, and Player 1 increases the amount, Player 1’s action is a raise, not a bet. Now, consider the situation in the pre-flop. Is it a bet or a raise? Pre-flop can be confusing, but Player 6’s action is a raise. Why is that? It’s because Player 5 and Player 3 on the right have already placed the blinds, which are forced bets. After the blinds are placed, when Player 6 adds more chips, it is called a raise. Misconceptions about Betting Reasons Why do players bet in poker? After some time playing poker, you might think the reasons for betting are: To extract value To bluff and make the opponent fold These reasons seem correct but are insufficient. In reality, the betting reasons are: To increase the pot size when you win To prevent your opponent from realizing their equity These reasons were proposed by Matthew Janda, who applied game theory to poker and significantly contributed to its development. Using these two reasons, you can explain many situations. For example, let’s look at Player 6’s bet here. If we apply the commonly stated reasons (1. To extract value; 2. To bluff and make the opponent fold), A♣︎K♣︎ is too weak to extract value and too strong to be a bluff. However, if we apply the reasons (1. To increase the pot size when you win, 2. To prevent your opponent from realizing their equity), we can see the logic. For the first reason, A♣︎K♣︎ has the potential to become a flush or a top pair, making it applicable. For the second reason, let's assume the opponent holds 9♠︎T♠︎ (with no made hand). He still have 20.51% equity, meaning you will lose 1 out of 5 times. Forcing the opponent to forfeit that equity would be advantageous. From this example, we can understand that the real reasons for betting are: To increase the pot size when you win; and To prevent your opponent from realizing their equity. Conclusion Betting is a crucial strategy in poker. If you think about betting purely in terms of black and white, such as value and bluff, many situations will not fit this framework. Instead of just thinking about betting as either for value or as a bluff, it’s helpful to understand that betting is done to (1): build the pot when you have a strong hand and (2): deny your opponent's equity. This helps explain many betting situations. In modern poker, it’s essential to know how to deny your opponent’s equity. The aggressive playing style is not just for show; it’s a calculated and proven strategy to dominate the game!