Lesson: 68
A Big Stack Mistake at the 2006 WSOP
Phil Gordon
July 3, 2006

I went pretty deep in the first event at the World Series of Poker, a $1,500 No-Limit Hold 'em tournament. While I wasn't pleased with the outcome - I finished 45th in a 2,776 player field - I was happy with my play. For this tip, I'm going to share an interesting hand from the tournament - one where I made a mistake.

It was late in the first day of play, and things had been going well. My stack had grown to over 60,000 and I was among the chip leaders. The average stack was around 20,000 at that point, the blinds were 600-1,200 with a 200 ante, and I was fortunate enough to be at a timid table. I was stealing with impunity. I was meeting so little resistance that, at points, I was able to steal the blinds and antes four times per orbit. I'd raise pre-flop, everyone would fold, and I'd add valuable chips to my stack.

After some time at this table, an under-the-gun player raised all-in pre-flop for a little over 20,000 in chips. It was folded to me on the button, and I found Ace-King off-suit. I decided to call. My opponent also had Ace-King, but he was suited with hearts. I lost the large pot when my opponent hit his flush.

It would be easy to write off the hand as plain old bad luck. After all, we started with hands of almost identical strength. But, the truth is, I shouldn't have played the hand at all.

Sure, Ace-King is a strong hand, but it's no better than a three to one favorite over something like Ace-Queen. Against other hands my opponent could have held, like pocket 10s or Jacks, it's a slight underdog.

There were also factors beyond the math that I should have considered. For instance, given the table dynamics, there was no need for me to risk one-third of my chips on this hand. If I had folded, I could have gone back to stealing, padding my stack while risking only a fraction of my chips. What's more is that, after I lost, I had to become more conservative, as I no longer had a big chip advantage over the other players.

Losing that pot had other consequences, as well. In this tournament, the blind-to-stack ratio didn't allow for a lot of play. For much of the tournament, the average stack had no more than 12 or 13 big blinds. When I lost those chips, I could no longer re-raise pre-flop, then fold to an all-in if my move didn't work out. If someone raised before the action got to me, I had only two choices: fold or move in.

There are plenty more tournaments to come in the WSOP and I'm hopeful that, in the following weeks, I'll win my first bracelet. To do that, of course, I'll also have to do a better job of protecting my chips the next time I have a big stack.

Lesson: 67
Winning Poker - It's About More Than Money
Ben Roberts
June 26, 2006

New players who want to be good students of the game often ask me for advice. In response, I often tell them about emotional stability, which I touched on in my last tip. The next point I'd like to make is that they need to be careful when assessing their own play. That's because there are a couple of common mistakes new players make that lead them to draw faulty conclusions about the strength of their play.

After playing for a short period of time, say 100 hours, a player starts to develop an opinion about his or her play. They might think they're playing very well or very poorly, but this conclusion might be far from the truth. The problem is that, in the short term, anything can happen. A player may get very lucky or unlucky and show results that are either far higher or lower than they could ever expect in the long-term. However, over a longer period - say 300 hours or more - a player is going to get a much more accurate view of their ability to beat the game.

So what does this mean for you? In short, I recommend that you keep an eye on your long-term results no matter if you're in the midst of a hot streak or a cold one. While taking the long view will help you more accurately assess your play, it can't help you avoid every pitfall along the way.

For example, assume that I've played the following games of No-Limit Hold 'em and have managed the following debts and profits:

Game: $1/$2
Hours: 200
Profit/Loss: -$2,000

Game: $2/$4
Hours: 200
Profit/Loss: -$4,000

Game: $25/50
Hours: 30
Profit/Loss: +$36,000

At first glance, it looks like I'm dong pretty well, right? I've make a handsome profit of $30,000. Look deeper though and you'll see that I wouldn't want to quit my day job because, in fact, I'm doing quite poorly.

To better understand what I mean, don't think about the actual dollar figures involved but, instead, think of each small blind as a unit. So, in a $1/$2 game, each unit is 1 and in a $25/$50 game each unit is 25.

How have I done in terms of units won and lost? I've lost 2,000 units in the $1/$2 game, 2,000 units in the $2/$4 game and won 1,440 units in the $25/$50 game. Total everything up and you'll see that after 430 hours of play, I've lost 2,560 units. This is bad news.

As you keep records of your sessions, be sure to record the size of the game you're playing and number of units you've won or lost. At the start of your poker career, put more emphasis on units won or lost than on your total profit. It's a more accurate gauge as to whether you're playing winning poker.

Lesson: 66
Seventh Street Decisions in Seven-Stud
Keith Sexton
June 19, 2006

A few weeks ago, I offered some pointers for playing fourth steet in Limit Seven-Card Stud. For this tip, I'm going and show how you might improve your play on seventh street.

My first suggestion for playing on seventh street is that you need to look at your pot odds when facing a final bet. When playing $5-$10 Stud, for example, you'll often need to call a $10 river bet while looking at a pot of $70. In this spot, where you're getting 7:1, if you have any suspicion that your hand is good, you really ought to call. The odds are so favorable that throwing away a lot of marginal hands would be a mistake. This is very different from no-limit poker, where you'll need to make some big laydowns late in a hand. If you're making the transition from No-Limit Hold 'em to Limit Stud, keep this very important point in mind.

Some of the tougher decisions on seventh street arise when you're holding one pair. Let's say you start with a pair of 6s and your opponent open-raises with a King as his door card. He bet all the way, representing a pair of Kings, and you called. Neither of you seemed to improve on fourth, fifth or sixth streets, and he bet out on the river.

At this point, you can be fairly certain that he doesn't have a pair of Kings. Most people don't have the heart to bet one pair on the river. So, in this case, you're likely up against something like Kings up, some sort of hidden hand, or a total bluff. Given this range of hands - and knowing that a bluff is a possibility - you should make the final call. You'll pick off a bluff enough of the time to make the call profitable.

I want to point out here that, since it's proper to call with a lot of marginal hands, betting with one solid pair on the river is often a good idea. If you start with something like a pair of Kings and your opponent doesn't seem to catch anything, don't be timid on the river. Oftentimes, you should bet, knowing that a lesser hand is likely to call.

Now, let's look at another river situation. Let's say that after the river has been dealt, you have Q 10 9 8 with three clubs showing. You made a straight on the river after your opponent has been aggressively betting his hand the entire way, showing Ad Kd 9s 6h.

After betting into your hand on sixth street, he again bets into your hand on seveth street. In this situation, you have to think about what your opponent is betting into. Most players will not bet into such a scary board with one pair or even two pair.

We have to assume that our opponent is either bluffing with a weak hand and is unconcerned with our hand, or has a huge hidden hand and is hoping to get three bets on the river. This could be a situation where you might just call, especially if there is a third hand behind you who might over-call with a marginal hand that he would fold if you had raised.

When playing Limit Stud, be sure that you're making enough value bets and crying calls on the river. Keep the pot odds in mind and you're likely to make the right play.

Lesson: 65
Big Blind Play in Limit Hold’em
Jennifer Harman
June 12, 2006

In Limit Hold 'em, the big blind is one of the toughest position to play. You're out of position, and that's never a good thing, but usually, you'll be getting excellent odds to continue with the hand. Against a single opponent who has raised, you'll be getting better than 3 to 1 and, in most hands, you're no more than a 2 to 1 dog. The problem is, you'll often find yourself going into the flop with shaky cards and, at that point, you're sure to face some tough decisions.

Before I talk about some tricky situations that develop in the big blind, I want to note that you can make your life a little easier by folding some hands pre-flop. If you're holding a medium Ace and you're facing an early position raise from a player who you know plays only good cards up front, then fold. It may seem like you're getting a nice price to continue, but in this spot, you're only going to get into trouble. When you miss the flop completely, it's going to be tough to continue and, if you hit an Ace, you may lose a lot to a hand that has you dominated. I'd rather play 6-7 against an early position raise from a tight player than A-7.

There are some hole cards that are just hopeless. If I'm facing a raise from any position and I find something like J-2, T-3, or 9-4. I'm going to surrender the hand.

The really difficult situations arise when you hold a mediocre hand, something like A-8 or pocket 6s, and you face a raise from late position. Many players will raise with just about anything in the cutoff or on the button, so it's tough to know where you stand with these medium strength hands.

What should you do?

Unfortunately, there are no easy answers. My best advice is to vary your play so as to take advantage of a particular opponent's tendencies. For example, if you hold A-8 in the big blind and face a late-position raise from a player who tends to be a little weak after the flop, you should probably re-raise pre-flop and then follow up with a bet on the flop most of the time. Against this type of player, this kind of action will force a lot of folds.

If the opponent who raises in late position is tricky and very aggressive post flop, I'll often call the pre-flop raise and then check-raise on most flops, whether or not I got a piece of the board. Even if the check-raise doesn't win the pot, this move helps keep a tough, aggressive player off balance.

Of course, you'll need to consider the flop as you move forward in the hand. If you call a pre-flop raise with pocket 6s and see a flop of T-Q-K, there's little point in going to war. Give your opponent credit for a hand that beats yours and look for a better spot. But this doesn't mean that you should be willing to give up on anything less than top pair.

Against a single opponent, I'll play second pair pretty aggressively. Sometimes, I'll lead at the pot with this hand, and sometimes, I'll check-raise with it. Taking this aggressive approach with a shaky hand allows me to play my big hands in the same manner. When my opponents see me check-raise, they won't know if I'm making this play with as little as second pair or as much as a set.

As I said earlier, playing from the big blind in limit poker is tricky. In my opinion, it's one of the toughest spots in all of poker. My best advice is that you should stay alert to your opponent's tendencies and look to mix up your play. If you're on your game, it will be tough for other players to put you on a hand while you'll have a pretty good idea of what they're doing.

Lesson: 64
Firing the Second Bullet
Gerg Mueller
June 5, 2006

In No-Limit Hold 'em, one of the trickiest and, sometimes, scariest situations occurs when you bluff at a pot on the flop and get called. The turn brings a blank and you're left with a big decision: Do I fire a second bullet and continue with the bluff?

Recently, while playing in the World Poker Tour event at The Mirage, an opponent launched a double-barrel bluff against me, and he got me to lay down the best hand. It was early in the tournament and I was in late position. My opponent, a pro whose play I respect, raised from early position, and I called with Ac-4c. The flop came A-J-7, rainbow with one club. My opponent bet out and I called. The turn brought a blank, and my opponent put out a very large bet.

I was in a tough spot. It was early in the tournament, and I didn't want to call off most of my chips with this hand. I was pretty certain the bettor wouldn't have fired a bet of that size with something like A-K or A-Q. With a hand like that, he'd have to worry that he was beat, and he'd probably try to get to the showdown as cheaply as possible. I figured he either had a very big hand - maybe a set of Jacks - or not much at all.

In the end, I decided to lay down my pair of Aces. My opponent then showed pocket Kings.

I give my opponent a lot of credit for playing the hand well. He had a good sense for how much heat I was willing to take. His play illustrates the most important consideration when deciding if you should continue with a bluff: Your opponent's mindset.

If you're up against an opponent who is unwilling to play without a very big hand, firing the second bullet can force them to make some bad lay downs. To make this work, however, you need to estimate the price a particular player is willing to pay, and then bet more than he seems capable of handling. In the hand I discussed above, my opponent zeroed in on a price I couldn't stomach.

Sometimes, a meek player will get stubborn and try to get through a hand by calling you down with something like second pair. You need to have a sense that he's trying to get through the hand in this way, then price your bets so that he won't be able to call.

If, however, you're against a guy who has shown a willingness to call any bet of any size with just about any hand, then you need back off and wait till you flop a monster.

In the end, the most important thing is to know your opponent. If you're attentive at the table and pick up on the tendencies of those around you, you'll find some nice opportunities for double-barrel bluffs.

That said, I should note that I'm far more willing to bluff on multiple streets in cash games than I am in tournaments. If I get caught running a big bluff in a cash game, I'll re-buy with the knowledge that my actions will force some bad calls later in the session. In tournaments, if I bluff off my chips, I'm on the rail.

As your no-limit game develops, study your opponents and identify those who are vulnerable to bluffs on multiple streets. As you develop this skill, you'll pick up some key pots and become a more profitable player.

Lesson: 63
Fourth Street Decisions in Seven Stud
Keith Sexton
May 29, 2006

In an earlier article, Perry Friedman gave some guidelines as to what you should be looking for at the start of a Seven-Card Stud hand. Perry concentrated on third street, when you make your initial decision to proceed with the hand or not. For this tip, I'd like to go further down the road and talk about fourth street.

When playing Stud, fourth street is the last of the smaller betting rounds. On fifth street, the bets double, so if you decide to play beyond fourth street, your investment in the hand is going to be hefty.

On fourth street, I look to see if an opponent has picked up a card that has a relation to the door card (the first up card). If fourth street builds straight or flush possibilities for my opponent, I'm likely to muck a lot of hands; if it appears to be a complete blank, I'll usually continue.

For example, say one player open-raised with the Qd as a door card, and I called with split 8s and a suited 6. If he catches a total blank (something like the 2c) on fourth street and bets, I'm likely to continue and see if fifth street brings either of us any help. On the other hand, I will probably dump the hand if my opponent catches anything between a Ten and an Ace, and I don't improve.

I won't know for sure if a Ten, Jack, King or Ace helps my opponent's hand, but at that point, his board presents too many warning signs for me to continue. Many players will enter pots when they start with three big cards, so any high card on fourth street has the potential to make my opponent a big pair or get him closer to a straight. Either way, my eights are pretty flimsy.

Another sort of situation develops when I catch two-pair on the turn. Say that I started with a split pair of 8s and a 6. My opponent open-raised with the Qd and I called. The turn brings me another 6, giving me two pair. My opponent catches a blank and bets.

In a spot like this, I think raising is a big mistake because the two-pair is well hidden. If I raise on fourth street and happen to catch a boat on fifth or sixth street, it will be almost impossible for my opponent to continue with the hand after my show of strength. He'll have to assume that I've hit and he'll fold to a bet. If, however, I just call on the turn and then hit a 6 later in that hand, my opponent may continue with his pair of Queens.

Moving on to a third example, say I have Kings in the hole with the 6d as my door card. Again, assume my opponent open-raised while showing Qd on third street. In this spot I'm likely to just call my opponent's raise on third street. If I were to re-raise with a 6 as my door card, I'd be announcing that I held a big pocket pair. My opponent would probably fold and I wouldn't get any value out of a nice hand.

After I call the third-street raise, I'm hoping that the turn brings a card like the 8d. If my opponent then leads at the pot, I'll raise, hoping to give the impression that I'm on a draw. Once my opponent has that impression, he'll probably call my raise on fourth street. If fifth street appears to be a blank, he'll probably call a bet there as well. I'll be building a nice pot while holding a strong hand.

These are just a few situations you might run into on fourth street. If you play your hand correctly at this point, you stand to pick up some big bets on later streets when things go well, and save some bets when things go south.

Lesson: 62
Finding Your Inner Maniac
Greg Mueller
May 22, 2006

A couple of years ago, I was wandering a Vegas poker room after busting out of a tournament. I was looking to play a no-limit ring game, but the higher stakes games had long waiting lists. I decided to take an open seat in a $2-$5 game.

When I sat down, I did a quick assessment of the table. There were a bunch of young guys -- I guessed they were in town for some college road trip. The others were retirement age. All seemed very concerned about the money they had on the table. They were playing very timidly and I was certain that I was by far the best player at the table.

How was I going to attack this group?

I open-raised the next 67 hands. Actually, that's something of an exaggeration. But from the moment I sat down, I was willing to raise to $20 or $25 in any position with almost any cards, and I was talking it up as I did. "Raise it up again!" I'd say after popping it for the 15th consecutive hand. I was trying to give the impression that I was a certifiable lunatic.

To my opponents, I seemed reckless but, at this table, there were strategic advantages to this style. First off, I was benefiting from a tremendous amount of information. If I raised with something like 4-9, I knew this group of opponents would get rid of any marginal hands that could cause me a lot of trouble. So, if I happened to hit trip 9s on the flop, I wouldn't need to worry that I was out-kicked by a hand like 9-T or J-9.

These guys would only call with hands like pockets 7s or A-Q. In fact, there were so few hands that they'd call with that I always had a very good idea of where I stood. But they had no idea what I held. Given this disparity of information, I knew when I could pick up a pot with a bet on the flop -- which was most of the time.

I was making a fair amount of money by raising with trash and betting the flop when I actually found a big hand, pocket Kings. I raised the standard amount, to $25. Then the small blind came alive and re-raised me. I then came over the top in a ridiculous way: I moved all-in for $4,000. My opponent was in agony. He let everyone know that he had pocket Jacks and that against any other player he'd fold. But me -- given the nut case that I was, he felt he had to call, and that's what he did.

This guy was so convinced that I was crazy that he made a huge mistake. He bought into the act and failed to realize that in all that seemingly maniacal play, I never risked much. I had convinced him that there was no difference between a $25 raise and a $4,000 raise.

You might want to experiment with this approach in your no-limit play, but before you go out and start splashing in every pot, I have a few suggestions:

• Make sure you're at a table of weak, timid players. Against a group of calling stations or tough opponents, this style will not work.
• Play at a limit that's well within your bankroll. Part of your advantage should be that the money on the table really does mean a little less to you than it does to everyone else.
• Use this style more in a casino than online because it can be easier to pick up tells when you're face-to-face with weak opponents.
• Be sure you're the best player at the table.

If all of this works out, give it a shot. You may find that being a "maniac" can be profitable and a lot of fun.

Lesson: 61
Beware The Min Raise
Phil Gordon
May 15, 2006

Say you're playing in a low-stakes no-limit ring game. The blinds are $.50 and $1, and it's folded to you in middle position. You find a nice hand - pocket Tens - and bring it in for a standard raise of three times the big blind. It's folded around to a player in late position, who re-raises the minimum amount, making it $5 to go.

I've seen this sort of play repeatedly in the past few months while researching my next No-Limit Hold 'em book by playing in low-stakes games. Every time I've been faced with a minimum re-raise, I've been up against a monster - pocket Kings or Aces.

A player who opts for the small raise may think he's being crafty by getting me to put a little extra money in the pot while he holds a big hand. But this is not a profitable play. There are two major problems with the minimum raise.

I've already mentioned the first problem: My opponent has telegraphed his hand. And making good decisions is pretty easy when you know exactly what your opponent holds. The second problem is mathematical. My opponent is giving me 5 to 1 to call the additional raise. (In this example, my extra $2 will give me a chance win $10.) When I make the call, I know that I stand to win a very big pot. My implied odds - the money I stand to make if I hit my hand - more than justify the call. If my opponent started the hand with a $100 stack, I could get paid at a rate of 50 to 1.

So I call and see a flop. If there's no Ten on the board, I'm done with the hand. And if there is a Ten, I'm going to wipe my opponent out. As I said, poker is a pretty easy when you know what your opponent holds.

What's the proper play when you hold Aces and a player has raised in front of you? Find the "Bet Pot" button and click it. Put pressure on a player who you know is starting with a second-best hand. Who knows, if he's got pocket Queens or A-K, he may be willing to put his entire stack in pre-flop. If he holds something like Jacks or Tens, your big raise will minimize your opponent's implied odds.

You should be wary of minimum raises at other stages of a hand, as well. Say you raised pre-flop with A-K and one player called. You hit top pair top kicker on a K-8-4 board. You bet out the size of the pot and your opponent min-raises you. At this point, you need to be very concerned that your opponent has hit a set. You have to wonder why he'd be raising an amount that almost begs for your call.

My advice here is twofold: First is that you should all but eliminate the minimum raise from your game. In some rare circumstances when you hit a full house or quads, it might be appropriate, but that's about it. Second is that alarm bells should go off whenever you see a min raise. Your opponent probably has a big hand and you need to proceed accordingly.

Lesson: 60
Playing Bottom Two Pair
Rafe Furst
May 8, 2006

Players get excited when they flop two pair because they know they're in a great position to take down a pot. But often, two pair is not nearly as powerful as it seems. This is especially true when holding bottom two pair or top and bottom pair. These hands may look dominant on the flop, but they're usually quite vulnerable.

For example, say you're playing a No-Limit Hold 'em ring game. There's a standard raise to four times the big blind from middle position. You figure the player has A-K or maybe a middle or high pocket pair. Everyone folds to you on the button, where you find 5d-7d. You've got favorable position and a hand that can flop some powerful draws, so you decide to call. The blinds fold, and the flop comes 5c-7h-Ks.

This is great. Not only do you have two pair, but it's very likely that your opponent has a piece of this flop, with top pair top kicker or maybe an over-pair. He bets into you, and you have to decide what action is best.

I've seen some players smooth call in situations like this, but that is not a wise play. When you have bottom two pair and your opponent has an over-pair or top pair/top kicker, you're not as big a favorite as you might think. Your opponent has five outs - cards that will counterfeit your two-pair - which gives him a very live draw. You're a 75% favorite to take the pot, and that's great, but it's not the type of statistical edge that justifies slow playing.

The better play is to raise and put your opponent to a decision right there. Many players overplay top pair and over-pairs, and will either call or re-raise all-in. That gives you the chance to put all of your money in the pot as a big favorite. If he puts a bad beat on you at that point, so be it.

Is it possible your raise will force your opponent out of the pot and kill your action? Sure, if he's sitting with a pair of Queens or Jacks he'll likely fold, but against that sort of hand, you'd have no chance to win much of a pot anyway. Your opponent would probably check to you and then fold to any bet on the turn. And as Howard Lederer pointed out in a recent tip on playing sets, if a blank comes on the turn and you raise at that point, you'll be sending an indication that the turn card helped you in some way. He'll have to assume that his lone pair is no good.

There will be occasions when you flop bottom two pair or top and bottom pair at the same time your opponent catches top two pair or a set. When that happens, you're going to go broke. In fact, you should lose your stack in most situations like this. If you're not willing to risk a lot of chips in this kind of hand, you're probably not doing enough to maximize your pots when you hold the best hand.

When you find yourself holding two pair, play them aggressively and get your money in on the flop. It's the surest way to get the maximum profit from a strong but vulnerable hand.

Lesson: 59
The Other Danger in Slow Play
Howard Lederer
May 1, 2006

You've probably heard the standard reason to avoid slow playing: It's dangerous, because when you slow play, you give an opponent a chance to make a bigger hand at a minimal cost. This is absolutely true. But there's another reason to play your big hands fast, and this one isn't talked about as frequently. A slow play can give an opponent a chance to get away from a hand more cheaply than he would have had you played it fast from the start. Consider the following example.

You're in late position in a No-Limit Hold 'em ring game. A player raises in early position. You look at your cards, see pocket 8s, and decide to call. The flop is absolutely perfect: Qh 8h 2d. You've hit your set and, with the Queen out there, chances are your opponent has something – maybe A-Q, maybe pocket Kings or Aces. He bets the flop.

Many players will just call in this spot, hoping to get their opponent to bet on the turn. But a raise is usually the better play. If you just call, you risk seeing a heart on the turn. I don't think you need to be especially worried about the flush beating your set. You might get your set beat by a flush draw even if you raise. However, you do need to be concerned about the effect the third heart will have on your opponent. He very well might suspect that you were on the flush draw and he'd no longer be willing to commit a lot of money to the hand, even if he has Aces.

In fact, any King, Jack, 10, 9 or a card that pairs the board is likely to give your opponent pause. If he bets on the turn and you raise, you're signaling that the turn card helped you. In effect, you're saying that you liked the flop enough to call and the turn improved your hand in some way. You're announcing that you can beat one pair.

So the flop very well may be the only time when your opponent is willing to make a stand with a single pair. If he bets the flop of Qh 8h 2d and you raise, he's likely to think that you're semi-bluffing -- raising on a flush draw. At that point, he might feel compelled to protect his hand with large re-raise or perhaps an all in. When this happens, you'll take down a monster pot.

It's OK when a flop raise doesn't get you the result you want. You might scare off someone holding pocket Jacks or Ace-King, but you wouldn't make a lot of money off these hands anyway. And, if you're up against Ah-Jh, you may lose a big pot to a flush. But that's OK, because you'll have gotten your money in with the best hand.

Of course, there are some occasions where slow playing is the best choice. If you flop quads or something like Queens full, you'll want to give an opponent a chance to make some kind of hand on the turn or river. But frequently, the best option is to play fast on the flop. It may be your only chance to win a big pot with a big hand.

Lesson: 58
Why I Prefer Cash Games to Tournaments
Huckleberry Seed
April 24, 2006

I'm best known in the poker world for my tournament success. I've won four World Series of Poker bracelets, including the World Championship in 1996. With as much success as I've had in tournaments, however, I still prefer to spend most of my time in cash games. If I were to limit myself to tournaments, I'd miss out on some of poker's most interesting aspects.

In tournaments, you're constantly moving. The tournament director may move you so that he can balance tables, or your table may break. So, even if you've been attentive to your opponents' tendencies, there's a good chance that you won't be able to exploit the information you've gained. In a cash game, however, you have far more time with a set of players. When I play a cash game in a casino, I might spend eight, 10, or 12 hours with the same group, so I have a longer time to study my opponents and exploit their weaknesses.

If I'm going to be playing with the same people for hours, I can create a table image that will benefit me over the course of my session. For example, when I first enter a game, I might make a series of unprofitable plays - some strange bets or bluffs. These plays may lose me a little bit of money, but they affect how everyone thinks of me for the rest of the session. Even if I shift to a more solid mode of play, some players will retain the idea that I'm a nut case. In a tip I provided a few weeks ago, I showed how developing this sort of table image can be used to great effect by representing a bluff.

In a tournament, however, it's tough to profit from that kind of persona. You can spend an hour getting everyone to believe you're a maniac only to be moved to a table of complete strangers. At that point, your stack will be decimated and your image will have disappeared.

In cash games, you also have the chance to track your opponents' mood shifts over time. At various points in a session, a player may get tired, frustrated or just go on tilt. If you're attuned to your opponents' moods, you'll find opportunities to profit from their weakened states. In a tournament, you rarely get a chance to take advantage of someone else's tilt. Usually, the hand that gets a player steaming also busts them from the tournament.

While tournaments can provide for some great action, playing them exclusively can limit your game. By branching out and playing cash games, you'll develop a completely different set of poker skills and be able to explore some of the more interesting psychological aspects of the game.

Lesson: 57
Early Tournament Play
David Grey
April 17, 2006

Most players are aware of the significant advantages that come with having a big stack in a tournament. When a player has chips, he can attack and pick up pots by forcing those around him into a corner where they have to make tough decisions. Those who have short stacks are always vulnerable to attack by those who have managed to accumulate lots of chips.

Why can the big stacks be more aggressive? The answer may surprise you. In tournaments, the more chips you have the less each individual chip is worth, making it easier for the big stacks to throw more into each pot. It's a strange concept, but one you should understand. To illustrate the point, say that you have 100,000 in tournament chips, and you lose 20,000 in a pot. You're not going to be happy about the loss, but that setback is not nearly as devastating as losing 15,000 from a 30,000 stack.

When you have a lot of chips that aren't worth much, you can be a lot freer to use them. You can go after blinds and antes without premium cards, or you can enter into race situations. If some hands don't work out, that's OK, because you weren't risking much to begin with.

The benefits of having deep stacks are significant enough that I'm willing to take some risks early in a tournament that give me the chance to build up my chips. When I'm playing in position, I'm likely to call raises with hands that I wouldn't play in a ring game or late in a tournament - hands like Q-9 suited or K-T suited. In a ring game, with these sorts of hands I'd be worried about being dominated and getting myself in serious trouble if I flop top pair. But early in a tournament, I can call with the hope of hitting the flop pretty hard. I'm looking for two-pair, trips, or some kind of big draw. When I flop a draw, I'll have the opportunity to semi-bluff; if I hit two pair, I might take a lot of chips from an opponent who can't get away from top pair.

Also, keep in mind that there are likely to be a higher proportion of weak players early in a tournament. You want to get as many chips from these players as you can before they bust.

Playing more hands early in a tournament does expose me to greater risks, but I'm fine with that. I'd rather gamble early and bust than cling to a short stack for hours on end. When I'm short-stacked, I know that one bad beat or one lost race will have me on the rail. I'd rather take some chances and try to accumulate a stack that can stand up to a little adversity.

So, in your next tournament, look for situations in early levels that give you a chance to acquire a big stack. You may bust, but if things work out, you'll give yourself a far better shot at surviving deep into the tournament and having a big payday.

Lesson: 56
How Many Re-Buys?
Clonie Gowen
April 10, 2006

Re-buy tournaments are my favorite types of tournaments to play. I am not much of a gambler away from poker; I rarely play table games like craps or blackjack, and I never bet on sports. My tournament style, and overall poker style for that matter, is generally tight-aggressive, but during re-buy tournaments, I use a different strategy that is fun to play and has given me a great deal of success in the past.

That said, there are some things you should consider when you play a re-buy tournament. The first thing to keep in mind is that you have to budget a lot more money for the tournament than just the initial buy-in. I budget for the initial buy-in, two re-buys, and the add on. So, if I am playing a $1,000 re-buy event, I will show up with $4,000. This gives me the opportunity to play the event correctly.

In a re-buy tournament, you can present your opponents with an image that you will later exploit in the tournament. Early on, I will often make unorthodox moves, pushing chips and building a hyper-aggressive image. Then, when the re-buy period ends, I revert back to my normal tight-aggressive style, and I tend to get paid off on all my big hands. The key to creating this image and opportunity, however, lies in budgeting enough money and a willingness to take risks. If you are not willing to invest enough money to make some re-buys and for the add on, then you should reconsider playing the event. You may catch cards and win a lot of pots and therefore never need to make a re-buy, but if you don’t at least have that opportunity, than you are at a disadvantage.

There is one important factor in a re-buy tournament that you will have no control over, and that is your table draw. Before the start of a re-buy tournament, tournament directors will post the breakdown schedule for that tournament. This lists the order in which the tables will be broken down as players are knocked out of the tournament. A good table draw has you sitting at a late break table. A bad table draw breaks early. I am always willing to invest more re-buys in a tournament when I am seated at a late break table simply because if I lose those chips, I will have a lot of time to win them back after the re-buy period ends. If my table is scheduled to break early and I donate a lot of chips to those players, I will not have the opportunity to exploit my newfound loose image to win them back.

When it comes time for the add-on, many players question whether or not they should take it. I suggest always taking the add-on unless your chip stack is in the top 20% of chip stacks after accounting for the other players taking their add-ons. This will help make sure you do not find yourself at a disadvantage when the real play starts.

So, if you find yourself playing with me at your next re-buy tournament and you notice that I am gambling it up, be careful! When you call my all in bet after the re-buy period ends, you are likely to find yourself staring down at the business end of the stone cold nuts!

Lesson: 55
Bad Position, Decent Cards
Howard Lederer
April 3, 2006

In the middle and later stages of tournaments, there are often times when you're forced to make a pretty big commitment on a relatively weak holding. These are uncomfortable spots because you never want to risk a large percentage of your chips with a mediocre hand. Things get even more difficult when you're playing from the blinds and out of position.

For example, say you're playing late in a tournament. The blinds are $500 and $1,000, and there's a $100 ante. You're in the small blind with $18,000. It's folded around to the button, an aggressive player who raises frequently in late position. He has $30,000 in his stack and he raises to $3,500. You look at your cards and see Ad-9s.

You know that A-9 isn't a great hand, but you can't ignore it in this situation. First off, given your opponent's history, he may very well be raising with a hand that is far worse than yours. In fact, in this spot, he could very well have two rags. Another consideration is that there are a lot of chips in play. Between the blinds, antes, and your opponent's raise, you stand to pick up over $5,000 in chips if you can take down this pot, which would be a nice addition to your short stack.

So, you're probably going to want to play this hand. But what's the best action?

At first, it might seem that calling is a reasonable course, as it would keep you from getting overly committed on this marginal hand. But calling has some pretty big downsides. With a hand like A-9, you're usually not going to like the flop very much. In fact, you'll fail to make as much as a pair about two-thirds of the time. If you do flop a pair of 9s, how are you going to proceed if the flop also has an over card? Even on an Ace-high flop, you'll have a tough time knowing if your hand is good.

What's more, if you miss the flop completely, you leave yourself vulnerable to being outplayed. It's going to be very hard to bet if the flop contains three cards that don't help your hand. If you check, your opponent will likely make a continuation bet, and you'll be hard-pressed to continue, even though Ace-high might be good.

In spots like this, your best move is to press an edge while you have it - before the flop. Re-raise all-in pre-flop. Your opponent probably won't have a hand that he can call with and, if he does, you'll have plenty of outs. You still have about a 25% chance against AK, for example. Not good, but not dead.

The important thing to keep in mind is that, in the later stages of a tournament, you don't want to make many decisions after the flop when you have a medium-strength hand like Ace-middle kicker or middle pocket pair, and you're playing out of position. Put your chips in while you think you have the best of it, and hope for the best. If you let these marginal but good situations pass you by, you might regret it later when your stack has been whittled down even further.

Lesson: 54
Inducing a Bluff
Layne Flack
March 27, 2006

Beginners come to poker thinking that the bluff has one simple purpose: To take pots when you don't have a hand that can win at showdown. In No-Limit Hold 'em, however, the bluff can be used in many different ways. As a recent tip by Huck Seed pointed out, a good player can use the threat of a bluff to force an opponent into making a very bad call.

For this tip, I thought I'd show another way you can use the bluff to your advantage. Using this technique, you'll neither be bluffing nor threatening to bluff, but rather, you'll be convincing an opponent to bluff in a situation where you almost certainly have the best hand.

Say you're playing a game of No-Limit Hold 'em and you raise in middle position with Kh-Qh. You're called by two players - one behind you and one in the blind. You're thrilled to see the flop: 2h-7h-Th. You flopped a flush. The big blind checks to you and you bet. (Note that I highly recommend betting in this sort of situation. Betting the made hand often does more to disguise the strength of your holding than slow playing does.)

Your bet is called by the late position player. What's he calling with? Maybe he has a Ten or the Ah. The turn is a blank, the 3c. You bet again, and once again are called. Now the river is another blank, the 4d, making the board 2h-7h-Th-3c-4d. What's your play?

On the river you should consider checking - but not because you're worried that your opponent has a better hand. Rather, since your opponent called on the turn, you have to consider what he may have. It's hard to bluff on three consecutive streets, and most players won't launch that third bullet. So, after calling you on the flop and turn, your opponent may look at something like top pair and give up, thinking that you must have him beat if you're willing to fire at this pot three times. Or, if he only has the Ah, he'll have no choice but to fold. Either way, there'll be essentially no way for you to get any value out of the hand by betting.

If you check, however, you let your opponent stab at the pot. If he's got just the Ah, he may be inclined to see your check as a sign of weakness. He'll fire at the pot in desperation, hopeful that he can force a fold. Then you'll call and take a nice pot.

Remember, your opponent's broken draws offer great opportunities for you to induce bluffs. When you have a hand and you appear to be up against a draw that doesn't get there by the river, you stand to make the most by checking to your opponent, who can then do his best to pick up the pot by betting. It's a great technique, and yet another way you can use the bluff to your advantage.

Lesson: 53
Back to Basics
David Grey
March 20, 2006

I play in some of the biggest cash games in the world. Usually, these games are loaded with pros - folks who know the intricacies and advanced strategies of pretty much every poker game. We normally play a mix of games that can include Hold ‘em, 7-Stud, Omaha, and one or more of the Hi/Lo variations. Most of the time, we play with a fixed-limit betting structure.

In a recent session, I had a stretch where I was pretty card dead, so I spent most of my time folding. To my knowledgeable opponents, it must have appeared that I was playing especially tight. Then in a game of 7-Stud, I was dealt an Ace as my up-card. The bring-in bet had been raised and I re-raised.

Then, two top-rate pros with no more than their antes in the pot called my re-raise. There are only a couple of hands that might justify their calls. However, as the hand proceeded with me as the aggressor, it became clear that the callers of my third-street re-raise didn't have much at all. One held three unconnected hearts, the other had a middle pair with no kicker.

What were these guys thinking? It's hard to know, but my guess is that one of them let his desire to gamble get the better of him. Though that can pay dividends in well-chosen spots, this wasn't one of them. The other might have thought he could outplay me later in the hand.

In the end, neither of their strategies makes much sense. I made it expensive enough that it was a lousy spot to gamble, and given that I've declared that I have a pair of aces, there's little chance that I'm going to get bluffed out of the pot.

I think this hand highlights a couple of the mental traps that sometimes snag advanced players. As players improve, they inevitably see more opportunities for profit, and thus, see potential in a greater number of hands. But it's a slippery slope, and a player can easily lose the long view and convince himself that he can make any starting hand work out.

This just isn't the case - especially when playing fixed-limit games. Even at the highest levels, profitability in limit poker is largely determined by a player's ability to choose the right starting hands. If you fail in this regard or somehow lose your discipline, it's nearly impossible to recover. Fancy plays and good decisions on later streets cannot overcome early-hand mistakes. If you're throwing money into a pot when you shouldn't, you're going to lose money. There's no way around it.

If you find yourself in a stretch where things aren't going especially well, take a step back and make sure your hand selection is all it ought to be. Review the previous tips from the other Full Tilt Poker pros. Jennifer Harman has written on hand selection in Stud-8,Omaha-8, Razz, and Perry Friedman has written about third street decisions in 7-Stud.

Always remember that in limit poker, hand selection is the foundation for your entire game. You can't build a solid game on a weak foundation.

Lesson: 52
Representing a Bluff
Huckleberry Seed
March 13, 2006

Deception is a vital tactic in poker. Usually, when a player talks about a deceptive play, he's referring to a bluff - a time when he represented a hand of greater value than the one he held. But this isn't the only deception available in poker - not by a long shot. If you study your opportunities thoroughly, you can use the threat of a bluff to engage in another type of deception, one in which you're trying to convince an opponent that you are bluffing when, in fact, you have a great hand.

Say you're playing in a No-Limit cash game and things are going well. You've been playing actively and aggressively. You've been firing at a lot of pots, using a combination of good cards and well-timed small bluffs to pick up a number of them. To your tablemates, it seems as if you're trying to capture every chip on the table. They're starting to grow suspicious and feel you're getting greedy.

With the table in this mindset, you call a middle position raise from the big blind. You're holding modest cards - 6d-8d. The flop comes 7c-4h-Qs. You now have a gutshot straight draw and check. You're opponent bets half the pot and you call, feeling that if you hit, you can win a big pot. The turn is the Tc. Now you have a double gutshot draw - any 5 or 9 will make a straight.

At this point, put out a large bet. If your opponent holds Jacks or Ace-King, he'll likely fold. If he's got Aces or Kings, he'll probably call. And, if so, you'll know he holds a good hand that he's willing to defend.

The river brings a 9, completing your straight. Now you can use you're aggressive image to your advantage. Move all-in, even if the bet is two, three or four times the size of the pot. To your opponent, it's bound to look like a bluff. Your bet will seem ridiculously large and impulsive. If you had the nuts, he'd reason, you'd bet smaller, trying to get some value. He'll look at his big pocket pair, feeling that he needs to make a stand against your relentless play. This deceptive play where you're actually representing a bluff will give you a chance to win a huge pot.

If your opponent folds, you'll want to make a note. You'll know he folded a big hand and might be willing to make other lay downs in the future. But, you don't want to push this guy too hard. If you force him to make two or three big lay downs, he's sure to call you down later. When he's reached that state of mind, make sure you have a big hand the next time you play a pot together.

No-Limit poker offers some great opportunities for deception. As you develop your game, look for spots where bluffs and the threat of bluffs can win you big pots.

Lesson: 51
Viewer Beware
Howard Lederer
March 6, 2006

Many of the people crowding the tournament circuit these days developed their interest in serious poker from watching broadcasts of the World Poker Tour and the World Series of Poker. With hole cards shown as the hands are played out, viewers get to see how the best players in the world ply their craft. They can then apply the lessons they've learned in their own play.

In the last couple of years, I've noticed that some of the less experienced players who have entered $10,000 buy-in tournaments don't fully appreciate what they've seen on TV. Many are apt to misapply the techniques they've witnessed. As a result, these players find themselves on the rail early, wondering why a move that worked so well for Phil Ivey or Chris Ferguson had such disastrous results for them.

To avoid falling into this trap yourself, take note of two key pieces of information the next time you sit down to watch the WPT or WSOP: The number of players at the table and the stack sizes relative to the blinds.

World Poker Tour final-table broadcasts start when six players remain. Through the vast majority of tournaments, however, tables are nine or 10-handed. When 10 people are at the table, you always need to be concerned that someone holds a big pocket pair or Ace-King. As a result, most good players tend to be cautious at full tables. They won't get themselves in a lot of trouble with speculative hands like a middle pocket pair or Ace-10. At a short-handed table, however, the chances of running into a big hand are greatly diminished. When play is three- or four-handed, a pro will likely play a hand like pocket 9s very aggressively.

Usually, in the late stages of tournaments, the blinds are extremely high when compared to the size of the stacks. For example, in the recent WPT event from the Gold Strike in Tunica, when four players remained, the average stack had about 1.4 Million in chips. This may sound like a lot but, at that time, the blinds were 30,000 and 60,000 with a 10,000 ante. The short stacks, who had less than 1 Million each, couldn't afford to be patient. If they failed to play for a mere 20 hands, their stacks would be cut in half.

As blinds increase, good players get more aggressive, making frequent pre-flop raises while attempting to steal the blinds and antes. They know that if they sit and wait for top-quality hands, the blinds and antes will decimate their stacks. At these stages of tournaments, you'll see a lot of attempted steals with second-rate hands. Other good players, fully aware that their opponents may be raising with very little, might re-raise or fight back from the blinds with similarly modest holdings.

Short tables and high blinds create settings that necessitate near constant aggression and continual action. So, for example, when you see a pro re-raise all-in from the blinds with pocket 7s, it's likely he's properly considered the situation and has made the best available play. He's thought about the short table and high blinds, determined that he probably has the best hand and, most importantly, that his opponent likely can't call the re-raise. The same player would treat the same hand very differently at an earlier stage of the tournament.

The final factor to consider when watching televised poker is that the shows are highly edited. At this year's WSOP, it sometimes took 15 hours and hundreds of hands to determine a winner. On ESPN, they usually include about 20 hands in an hour-long broadcast. So, you can be sure that much of the context if missing from these telecasts. A call or re-raise that seemed odd on TV may have made perfect sense in the course of the event. For instance, if an aggressive player raised eight consecutive times on the button, the big blind may have decided that he had to fight back with rags, just to let his opponent know that he was willing to take a stand. It's not a play that person would normally make, and it may look strange on TV but, in context, the re-raise with 8-high made perfect sense.

I suggest that you TiVo the next poker event you plan to watch. Keep track of the number of players and the size of the blinds. By paying attention to the details, the big picture will likely become clearer.

Lesson: 50
When Passive Plays
Chris Ferguson
February 27, 2006

There's no question that aggressive poker is winning poker. If the world's top players have only one thing in common, it's that they take control of the hands they play with bets and raises. Usually, among the world's poker elite, calling is the least attractive option.

For this tip, however, I thought I'd talk about a couple of instances when playing passively - just checking and calling bets - may be the preferred option.

Top Pair, Favorable Board

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