Poker Online
Implied odds are used in conjunction with pots odds, a calculation used to identify how large a bet you can call to reliably make a long term profit. Pot odds provide a ‘definite number’, a fixed amount that is the ceiling of your calling option. Implied odds increase this fixed number, by an amount proportional to the likelihood of the pot increasing during the rest of the hand.
For example, let’s say there are four people in a hand, if you calculate that you have pot odds of 20% and the pot is £100 after the flop, you can only call £20. There is, however, a good possibility that one of the four players will bet or raise during the next betting stages (turn and river). So if you predict that a player will bet at least £30 on the turn, and you believe at least one more players will call – your implied odds are: pot odds (20%) x (pot value (£100) + predicted increase in pot (£60)). This means that the amount you can call has increase from 20% of £100 to 20% of £160, which is £32.
There is another strategy used in conjunction with implied odds, called ‘betting your odds’. This involves making a bet on the flop, even if you don’t have the best hand, so on the turn you will have better odds to call if you don’t improve your hand.
This strategy works well because you have the chance of winning the hand purely from the bet you make, and if not, you have great odds to continue calling on the turn. Remember, once you’ve made a bet that money is no longer yours, it’s in the pot – you can’t think ‘I’ve put £30 in the pot so I need to keep calling’. Any money in the pot is only yours if you win the hand, this seems to be a hard concept for amateur poker players to understand, but a vital one to grasp if you want to make a consistent profit from poker.
Cash games are arguably the best, most consistent method of making an online profit from poker. These 4 tips will give you the edge at the poker table, allowing you to win cash from poker players who are just ‘playing casually’. These tips are aimed at people looking to make money at the micro to low blind level tables (blinds lower than one dollar / pound).
1. Play tight! The first tip requires an exclamation mark, which must mean it’s important! Cash games have no incremental blind structure, meaning whatever you pay for your first blind is what you’ll be playing for the duration of your stay at that table (unlike poker tournaments where the blind levels increase). This means that you can just fold your trash hands over and over, waiting to catch a big hand and double up. There’s no point frittering your hard earned cash away on low-medium strength hands. Even if it is low stake poker you’re playing, to improve your game you must never risk your chips without the right risk:reward ratio.
2. Patience is a virtue. This saying is applicable for so many aspects of life, especially for online poker. When you first join an online poker table, you’ll be asked the question ‘post big blind’ which essentially means you pay a big blind out of turn, allowing you to start getting dealt cards straight away (if you don’t post big blind you wait until the big blind falls on you naturally). Don’t use this function, be patient. Wait until it’s your turn for the big blind and then start playing, staking chips that you don’t need to is a bad idea, it sounds obvious but many poker players post the big blind out of turn.
3. Unleash the beast. Once you’ve involved yourself in a hand, it’s time to engage your second personality. Your first personality should be the tight player, who’s folding a lot of hands and rarely getting involved. Once you’ve involved yourself you must protect those chips, and make sure you win. Time to switch to personality number two, the beast! If it’s your turn to act and no one else has bet, ALWAYS make a continuation bet. The continuation bet is possibly the most consistent way of winning a hand. Even if your opponent has hit a hand and you haven’t, you’ve got a tight image so they will give you respect – and hand over their chips to you.
4. Know thy odds. Maths. That’s essentially what poker is. If you know your chances of hitting a hand which will make you win, you can assess whether any decision will be profitable. Even if your maths fails you on one occasion (someone sucks out on you), you know that over a long period of time the averages will become more and more accurate – you’ll be the winner in the long run.