No Limit Texas Holdem Basic Strategy
Poker revolves around betting. Betting in poker can serve several functions and betting patterns in poker can be very complex. This certainly holds true in no limit games in which you cannot only decide whether to bet or not, but are also free to bet whatever amount you wish to.
In this episode of Everything Poker we cover the fundamentals of No Limit Texas Hold'em Poker. Featuring advice from a range of professional poker players. Using Texas Hold'em strategy articles. When it comes to Texas Hold'em strategy, it's not about how much you read, it's about how much you learn. Every time you read a Texas Hold'em strategy article, you should be actively trying to absorb the information as you go along. Limit Texas Holdem: Some Basic Strategy & Tips. Limit Texas Hold'em can be quite deceptive to those players that are less skilled. A falsehood believed by some players is that you can just join the game and call down the hands when you have pot odds, never taking notice of your opposition.
Beginning players often aren't aware of the reason why they bet, let alone the best amount they could bet in certain situations. A lot of beginning poker players as a result make big mistakes with their betting strategy and for that reason alone might find themselves losing their money on a structural basis. This article is meant to give you a basic understanding of when you should bet how much and what for; to teach you a basic no limit hold'em betting strategy.
Contents of this betting strategy guide:
Reasons for betting in poker
Besides betting because you feel like it or because it gives you a nice round figure in your chip stack there are several other reasons for betting in poker. The most common reasons for betting are the following:
- Betting to get value for your good hands
- Betting as a bluff
There are also several other reasons why poker players tend to bet, but which are more or less a form of one of the two reasons mentioned above:
- Betting for protection
- Betting for information
- Betting to gain the initiative
- Block betting
No Limit Texas Hold’em Strategy Basic Strategies for Winning NL Holdem Online No Limit Hold Em (NLHE) is an exciting game. It gives you the ability to bet as much as you want, when you want.
The correct amount to bet in a certain situation often depends on the reason why you are betting. This will become clear in the following section where all the above mentioned reasons for betting in poker are discussed separately.
Value betting in poker
Value betting is betting with what you think will be the best hand. If you are value betting your hand, then you hope to get called by your opponent holding a worse hand than yours.
Note that you can only make an estimation of a range of hands your opponent is likely to hold. So, to be more specific, you are value betting your hand when you think it is ahead of your opponent's range of hands. Even if you get called by a hand in the top of your opponent's range that has you beat, you are value betting.
When you want to bet for value the trick is to bet an amount that wins you the most: you don't want to bet too much and scare your opponent off, but you don't want to bet too little and miss out on the money your opponent would have called more with his or her inferior hand either. Therefore it is very important to read your opponents well; to think about the hands your opponents could have and how much they would be willing to call with those hands.
In addition you could also use your bet sizing as a tool to be deceptive to your opponent and to lure your opponent into making big mistakes. An example would be inducing a bluff raise which is further explained in the section specifically about bet sizing.
Betting as a bluff
Bluffing in poker is betting with what you think will not be the best hand at showdown. If you are bluffing then you don't want your bet to be called by your opponent.
Bluffing is basically saying to your opponent that your hand is the better one and that he or she should fold. It is very important in order to bluff successfully and to not be a big donator of chips instead that your story adds up. In addition your opponent has to pick up on this story and he or she should be capable of laying down a second best hand.
The reason that bluffing at the lower stakes is not recommended is that you are mostly dealing with opponents who are not aware of you telling a story to them and who are incapable of laying down hands. You could make the most elaborate and sophisticated bluff in the world, but if you are dealing with such opponents then this bluff will be nothing more then spew or 'fancy play syndrome'.
If you want to bluff, the trick when it comes to bet sizing is to get the job done with as little chips as possible while still keeping up the story of you having a big hand. You don't want to risk more then necessary and you need to be credible. The more you bet as a bluff, the more often your bluff has to work in order to be profitable.
You can also semi-bluff in poker. This is betting when you hold a draw like a flush or a straight draw. This kind of bluff has several advantages: you could pick up the pot right there with your semi-bluff; it disguises your draw; if you get called then you have outs and it helps you build the pot for when you do hit your draw.
Betting for protection
Betting for protection is essentially a form of value betting your hand. By betting for protection you deny your opponents a free card that could give them a better hand when they are drawing.
When you are betting with the intention to protect your made hand against draws there is a minimum amount you have to bet in order to let your opponent make a mistake when he or she decides to continue with the hand. If you bet too little, then you give your opponent the right pot odds to call and try to outdraw you. Note that you can't make your opponent fold a hand. You can only make sure that (s)he makes a mistake when continuing with the hand.
Betting to gain initiative
Betting in poker is seen as an act of aggression. It gives you momentum: other players will have to make at least a decent hand or otherwise collect the nerves to bluff their way out if they want to continue when you keep on betting. Betting to gain initiative and to exploit this initiative (as with a continuation bet) is therefore essentially a form of bluffing as you don't fully rely on the strength of your hands. Although bluffing at the low stakes poker games is not recommended, betting to gain initiative and continuation betting on the flop are very important strategies to incorporate into your game.
Betting for information
Betting for information is probably one of the vaguest reasons you could bet for, yet it is often mentioned by poker players. The problem with betting for information is that when your bet for information just gets called this often doesn't tell you a whole lot about your opponent's hand. At the same time however, the pot is getting bigger and bigger while your hand probably isn't very strong (otherwise you would have just been betting for value). Betting for information is therefore not a very good reason to bet and you might be better of to just check instead.
Block betting
Betting to block is betting when you are first to act with the intention to set the price. This is usually done with weaker hands when players aren't sure whether their hand is good or not. They don't want to call a big bet by their opponent if they check to him and therefore they bet a smallish amount themselves (and hope to not get raised). It can be a valid betting strategy as you get some value from weaker hands and possibly lose less against stronger hands.
Paying attention to bet sizing: how much to bet in poker?
A key concept when it comes to betting in poker is that you should size your bets in relation to the total pot size (just like you should view your opponent's bets relative to the size of the pot). This is very important, because the bet size relative to the pot size determines the pot odds that you give your opponents. A very common range for bet sizes is anywhere between 50-100% the size of the pot.
Another important thing to keep in mind is to not vary your bet sizing based on the strength of your hand. If you would do this, other players might notice and get a 'tell' on you. They will see that you are betting strong only with your big hands and avoid paying you off. Or they might notice that you are betting small with your weak hands or bluffs and push you off of your hands.
Bet sizing when betting for value or as a bluff
When you are purely betting for value or as a bluff then you are very free in your bet sizing. As already mentioned, the trick with valuebetting is to bet an amount that wins you the most. This does not necessarily have to be the amount that gets called the most.
As a general rule betting larger against very loose opponents who don't like to lay down their hands will be more profitable. And because at the lower stakes online cash games you will encounter a lot of those opponents it is very important that you bet strong when you are very likely or even sure to be ahead. Strong betting means that you should be betting around 75% of the pot or even more. You could sometimes consider slowing down a bit when the board is unlikely to have hit your opponent and you are holding a monster like top set or bigger yourself. This should be an exception though.
Example 2: Again you're on the river with the nuts, the same pot size and the same stacks as in the previous example. This time you suspect your opponent might have a missed draw and you also know that your opponent is very aggressive and likes to bluff people of their weak hands. Now you could decide to bet less, say $1.65, to make it look like you are weak and induce a bluff raise by your opponent.A good thinking player however might see your smaller bet as strength: it looks like you are begging for a call, so you must have a strong hand. In this case a normal or even a large bet size would probably be better. You could save the smaller bet size against this opponent as a bluff.
If your opponent really thinks things through and knows you know him and vice versa, then he could be thinking that you know that he knows that the small bet size would mean strength and are therefore using it as a bluff. Now this could again lure him into calling with very weak hands or he could even bluff raise you. This 'I know that you know' thing is called multiple level thinking. I told you betting can be very complex, isn't poker a fun game? Multiple level thinking is not something you'll have to worry about at the micro stakes very often though.If you flop a really big hand then you should look for a way to get your whole stack in the middle on the river without making any huge oversized bets at any point in the hand. You would want to avoid betting too small on the flop and the turn and having to bet 1.5 times the pot on the river to get it all-in. It is important to plan your bet sizing over multiple streets of betting.
And now for some bluffing:
Of course you won't be able to calculate all those percentages in the heat of battle, just like you won't be able to calculate exact pot odds and odds of hitting your draws and winning versus a certain hand range. The above examples are meant to give you an idea what you should roughly be thinking about when determining how much to valuebet or bluff. You can save the exact calculations for when you want to analyze your plays accurately away from the poker table.
Bet sizing when betting for protection
The common bet size of 50-100% of the pot also happens to be the correct amount to bet for protection if your opponent could hold potential flush or straight draws. It is advisable to bet closer to 100% the size of the full pot in this case, certainly against opponents who like to chase their draws. This way they will be making bigger mistakes by calling, which means more profit for you in the long run. If you're unsure about why this is a correct amount to bet versus potential flush or straight draws I'd advise you to read the pot odds guide. You'll see that this bet size will deny your opponents the proper pot odds to call with draws that have up to 15 outs.
Of course your opponent will not always have the straight or the flush draw when the board offers this potential with two cards to a straight or a flush. But because you don't know when they do or when they don't have the draw, it is best to just assume they always have it. This way you will never give away free cards where you could have gotten a lot of value from a draw instead.
Pre-flop raise sizing
If you decide to play a hand and you are the first to act before the flop then you might already know by now that raising is generally preferable over limping (just calling the big blind). Raising gives you initiative and it tends to weed out the very weak starting hands. On top of that it will result in getting more value for your good hands.
The general rule of thumb here is to raise 3 or 4 times the big blind and add one big blind for every limper. So if there are two players in front of you just calling the big blind and you find a nice hand like AQ you should raise to 5 or 6 times the big blind. If you raise less, then it will be too attractive for all kinds of hands to come along and take a look at the flop. If you raise more, then you are unlikely to get any action by worse hands at all. If you are dealing with particularly loose opponents, such as at the nano and micro stakes, then raising a little bit more pre-flop could be a valid strategy.
Common mistakes in a beginner's no limit hold'em betting strategy
Below is a list of the five most common betting strategy mistakes seen at the no limit hold'em micro stakes cash games.
Calling too much instead of betting and raising
Aggression, or rather controlled and selective aggression, is important in no limit hold'em. If you are not aggressive enough, which is characterized by calling a lot instead of betting and raising, you let your opponents outdraw you cheaply. You also won't get enough value for your big hands and you will generally get less information about the strength of your opponent's hands and therefore of where you stand in a hand.Betting and raising too small
If you only make minimum bets and raises then you are just inviting players to enter the pot and take a shot at cracking your monster hands. Always think of the pot odds you are offering your opponents. In order to let your opponents make mistakes when they want to draw out on you, you have to bet strong: around ¾ the size of the pot will do fine as a general rule of thumb.Betting and raising too big
This one is actually pretty funny to witness: a very tight player suddenly wakes up and comes in raising 6 or 7 times the big blind pre-flop or reraises someone else's raise by a ridiculous amount of 5 times or more. You have to be really oblivious as an opponent to not have all your alarm bells going off at the same time that you are either facing queens, kings or aces and maybe, just maybe AK. I don't know whether it is the fear to play poker after the flop and to get outdrawn or impatience of getting all the money in the pot with a great hand. I do know that this kind of betting strategy will only scare the majority of opponents off and won't result in becoming a tough and unpredictable player to play against.Betting without a plan
You should always have a clear idea of what you want to accomplish with your bets and always ask yourself if betting in fact does accomplish what you had in mind. In addition you should start to make a plan early in the hand for several scenarios later in the hand. Think about the possible reasons for betting in poker. Do you want to get value? Do you need to protect your hand against one or more possible draws? How much should you bet now and on the turn to get all-in on the river without having to bet a weird large amount? What will you do if your bet gets raised? And what if the possible draw hits? Does betting as a bluff make sense here at all considering what my opponent thinks that I could have based on the betting in previous rounds?Betting for value when no worse hands will call
This is basically an example of betting without a plan or betting without thinking about what betting will accomplish. Say you get to the river where you hold a top pair and the board shows four cards to a straight and three cards to a flush and your opponent checks to you. Okay, so your opponent might be weak because he checks, but betting wouldn't really accomplish anything here. You are unlikely to fold out better hands and worse hands are probably not going to call. So a bet will only lose you more money when you are behind and will probably win you the same amount if you are ahead. And that's not what defines a good bet.
Betting in poker - conclusion to this betting strategy guide
I hope that this article has helped you to see what you can achieve with your betting in poker. Betting is much more than just throwing chips in the pot; it can serve several important purposes. Let's conclude with an overview of some take home messages:
- Always bet for a reason. Have a plan for the rest of the hand.
- Always see bet sizes in relation to the pot size. Common bet sizes are between 50-100% of the pot. Bet closer to a 100% of the pot if you want to bet strong.
- Before the flop a raise size of 3 or 4 big blinds plus one big blind for every limper in front of you is a very good starting point.
- Don't vary your bet sizing based on the strength of your hand.
- Selective aggression and choosing the right bet size will help you to protect your hands and to get value from weaker hands.
- There is very little to no need for pure bluffing at the lower stakes if you make sure you get enough value for your strong hands. You can generally bet bigger for value against very loose opponents.
- Always try to think of how your opponent might perceive your betting pattern.
These pointers form the big picture when it comes to betting in poker. If you follow them and try to implement them in your game, then you will likely become a player to be reckoned with at the table. Don't worry about betting specific plays like check-raising, squeezing and isolating yet. These 'details' will come when you have the basic foundation right.
Further reading at First Time Poker Player:
Further reading across the internet:
- The Poker Bank - Bet Sizing in No Limit Poker
- Tight Poker - Value Betting - Advanced Strategy in Extraction
- Poker-Strategy.org - Online Poker Bluffing
- Noted Poker Authority - Betting For Value Versus Inducing A Bluff
An overview of the most important poker strategy fundamentals
Poker is a very complex game. It is a game that involves many subtleties and variables on which the poker player can base his or her decisions. These decisions can sometimes be very creative or risky. They can be planned out over multiple streets of betting, culminating in an elaborate bluff on the river with an absolute rubbish hand.
But before a poker player will be able to make functional creative and elaborate plays it is very important for this player to have a solid ABC-game at his or her disposal. That is: being aware of the most important subtleties and variables on which to base your decisions; being able to make the correct decisions in at least the most 'standard' spots and to some extent being able to differentiate between functional creativity and unnecessary 'fancy play syndrome' (FPS): a solid foundation in poker strategy.
The purpose of this strategy guide is to provide you with exactly this kind of poker strategy foundation for no limit Texas hold'em. If you are able to master the basic principles outlined here and combine this with the necessary discipline and patience to correctly implement them at the tables, then you are well on your way to beating at least the micro stakes for a healthy win rate. It is important that you know the rules of no limit hold'em and the poker hand rankings very well for a good understanding of this no limit hold'em strategy guide.
Texas hold'em strategy - Table of contents
Relative hand strength in no limit Texas hold'em
Reading the board
It is one thing to be able to determine your hand value by combining the community cards with your hole cards to form the highest five card combination. To determine the strength of your hand relative to the hands that could be out there in the hands of your opponents however is at least as important a skill to have in order to make the most correct decisions. Reading the board is an essential part of determining your relative hand strength. This becomes obvious when you hold a set (three-of-a-kind) on a river that brings the fourth card of the same suit:
A set is generally a very strong hand in Texas hold'em. In this case however, your opponent only needs to have a diamond to beat your hand and you certainly wouldn't want to put all your chips in the middle to see a showdown. Your otherwise strong hand has become pretty marginal to say the least; it won't be more than just a 'bluff catcher'.
| Hole cards | Board |
Although you hold the same top pair top kicker (TPTK) in both hands, hand two is relatively stronger. There are much more hands that your opponent is likely to hold on the river that beat your one pair hand in the upper example (AQ, AJ, TK, QJ, A9, J9, etc.) than in the second example (the odd 2, sometimes 66 or A6).
Relative hand strength also includes the vulnerability of your hand on earlier streets to possible draws. A board is said to be 'wet' when there are many draws and strong hands possible. Conversely a 'dry' board doesn't connect well with a lot of the holdings people tend to play:
If you have a strong hand like two pair or a set on the dry board then you don't have to bet as strong as on the wet board. On the wet board there are a lot of cards in the deck that could fall on the turn and make your hand second best (completing flush or straight draws). Further more, if your opponent does not have a draw but a weaker made hand, these cards might scare your opponent as much as they scare you and you could lose value by not betting strong on the flop.
When you are in a hand and have determined your absolute hand strength, always ask yourself where your hand stands relative to the hands that are in your opponents range. Which range of hands could your opponent hold given the community cards and his actions? Are there any possible draws out there which he could have and stick around with? Did the turn or river complete any of these draws? Is it likely for your opponent to play the cards that would give him a better hand than yours? This last question already goes beyond reading the board and also takes your opponents tendencies into account. This will be addressed later in this poker strategy article. First, let's take a look at another key concept involving relative hand strength: the importance of your position at the table.
Positional awareness
In poker, your position (and that of your opponents) relative to the dealer button is a very important fact to take into consideration mainly when deciding which hands to play pre-flop and which to fold. A well known saying in the world of poker even goes as far as stating that 'position is everything'.
The value of being 'in position', that is being one of the last players to act, comes in multiple ways. First of all, when there are fewer people to act behind you, there is a smaller chance that one of them wakes up with a very strong hand. Secondly, if you are last to act then you get to know exactly what your opponent does before you have to make a decision.
The impact of these advantages should be reflected in your hand selection. The closer you are to the button, the wider the range of hands that you can profitably play will be. Also note that although the blinds act last pre-flop, you should be very tight from the blinds because the blinds are always out of position (first to act) post-flop. This concept is shown in figure 1.
are just a very rough guideline.
In addition, if another player, also being very positionally aware, decides to make a pre-flop raise from early position (thus with many players left to act behind him) you can narrow his range of hands down to the stronger hands (AK, AQ, big pairs, etc.). Against this range of hands, hole cards like KQ or even AJ and AQ are relatively weak and you should be very careful with playing these hands after an early position raise. The advantage of being in position and therefore of getting to know what your opponent does before you have to act often won't make up for the difference in hand strength. Therefore folding is often the correct play. If you were in the same late position with the same hands (KQ, AJ or AQ) and it was folded to you however, than these hands are relatively very strong.
It is very important to develop a high level of positional awareness. Let this awareness be translated into playing fewer hands out of position and more in position, while at the same time taking your opponents' position into account when deciding what range of hands they could hold.
The power of initiative
In a situation where a player shows aggression pre-flop by raising and gets called by one or two opponents, the flop often doesn't hit any of the players still in the hand. In such a situation the aggressor has a controlling position and can most often take down the pot by continuing his aggression with another bet (a continuation bet or c-bet). This clearly shows the power of initiative.
Because of the power of initiative, you need a stronger hand to call an opponent's raise with than to open the pot with yourself. This principle is called 'the gap-concept'. How much stronger your hand should be (how big the gap should be) to call a raise is dependent on many aspects and is something you have to develop a sense of for yourself through experience.
For example, a very tight and aggressive (TAG) opponent will surely take advantage of his initiative by continuation-betting after the flop and it will be harder to play against him or her than a player who is more passive post-flop. You might want to call very tight against such a TAG player.
It also works the other way around in that you should try to take the initiative yourself if possible. Not that you should start raising every bet of your opponents, but, for instance, try to open the pot pre-flop with a raise instead of just calling the big blind (limping). This will instantly make you a tougher opponent to play against.
Knowing the odds in hold'em poker… approximately
Yes, there is a mathematical side to poker. And although it is very important to have an understanding of the basic math behind poker to play a winning game, this doesn't mean that those who are less skilled when it comes to math should find another hobby. The most common odds in poker (and those aren't too many) can be learned by heart leaving very little need to do any calculations on the fly at the poker table. And if there are any calculations to be done, then some simple rules of thumb will help you out. It might take some practice, but mostly anyone can do it. Let's first see why odds in poker are so important before we start calculating them like crazy.
Why knowing the percentages in poker is important
In order to play winning poker you have to make profitable plays. A profitable play could be betting when you are ahead in the hand or not calling too much when you are behind and need to catch a card to make the winning hand (you are on a draw).
In order to know whether you are paying too much for your draw there are two things to take into account: the size of the bet to call in relation to the size of the pot (your pot odds) and the chance of completing your draw (card odds, drawing odds or just odds). If the amount you have to pay in relation to the size of the pot is relatively smaller than the chance of you completing your draw then you can call profitably. If you call on a draw when the amount you have to pay in relation to the pot is relatively larger than the chance of completing your draw, then you are making an unprofitable call. And as unprofitable calls are a mistake in poker, this is something you should be willing to avoid (saves a lot of money in the long run).
This basic rule is somewhat of a generalization as will become apparent later, but for now it will do just fine. Note that you can't say that your pot odds have to be larger than your drawing odds as 'large pot odds' refers to a small amount to be paid in relation to the total size of the pot while 'large drawing odds' refers to just that: large odds to hit your draw.
Pot odds
Pot odds are relatively easy to determine and can be expressed in percentages and in ratios. Which of the two you use is just a matter of personal preference. Pot odds are the amount you have to call in relation to the total pot size. When expressing pot odds in ratios, the total pot size is any money in the pot from previous betting rounds plus the bets of your opponent(s) so far in the current betting round. When expressing pot odds in percentages you have to add your call to the total size of the pot.
Table 1 summarizes the pot odds in ratios and percentages when facing some bet sizes (expressed in pot size bets (PSB's)) from your opponent that are very common in no limit hold'em.
| Bet size | Odds ratio | Odds percentage |
|---|---|---|
| 1/4 PSB | 5:1 | 17% |
| 1/3 PSB | 4:1 | 20% |
| 1/2 PSB | 3:1 | 25% |
| 2/3 PSB | 2.5:1 | 29% |
| 3/4 PSB | 2.3:1 | 30% |
| 1 PSB | 2:1 | 33% |
| 11/2 PSB | 1.7:1 | 38% |
The odds of hitting a draw - counting outs
If you want to calculate the odds of hitting your draw then you need to know how many cards left in the deck will make your draw; how many outs you have. A couple of tips when you try to count your number of outs correctly:
- Don't count the same outs double if you have multiple draws (see example 2 below).
- Don't overestimate the number of outs you have. This one is very important and in part refers to reading the board (see example 3 below).
- You could count 1 or 2 outs extra if you have some backdoor draws (needing 2 more cards to complete the draw). To not overestimate the number of outs it would be safer to just look at these draws as a bonus and not count any extra outs for them.
| Hole cards | Board |
In this case any 10 (4 total) and any 5 (also 4) will complete your open ended straight draw. You have got a total of 8 outs if you think that you can only win with the straight. Example 2:
| Hole cards | Board |
The straight draw gives you 8 outs, the flush draw gives you 9 outs. With these two draws combined you have 15 outs and not 17, because the 5♣ and T♣ complete both draws but only count once. Example 3:
| Hole cards | Board |
Although you have the same draw as in example 2, this one is much weaker. Because the board is paired you aren't drawing to the best possible hand (the nuts) and you could even be drawing dead (have 0 outs) if your opponent already has a full-house or better. In addition, some cards that complete your draw and seem to be outs could give your opponent a better hand at the same time.
The odds of hitting a draw - the actual percentages (or ratios)
When knowing the number of outs and the number of cards left in the deck you can calculate the chance of hitting one of your outs:
Of course you aren't going to calculate it that exactly in the heat of battle, instead you can use the following rule of thumb: multiply your number of outs by 2 for the odds with one card to come, multiply the number of outs by 4 with 2 cards to come. Also take a look at (memorize?) the following table to get a feel for the odds of hitting certain draws:
| Draw | Outs | Ratio (1 card) | % (1 card) | Ratio (2 cards) | % (2 cards) |
|---|---|---|---|---|---|
| Inside SD | 4 | 10.8:1 | 8.5 | 5.1:1 | 16.5 |
| OESD | 8 | 4.9:1 | 17 | 2.2:1 | 31.5 |
| FD | 9 | 4.2:1 | 19.1 | 1.9:1 | 35 |
| FD + 2 overcards | 15 | 2.1:1 | 31.9 | 0.8:1 | 54.1 |
| OESFD | 15 | 2.1:1 | 31.9 | 0.8:1 | 54.1 |
| OESFD + pair | 20 | 1.4:1 | 42.6 | 0.5:1 | 67.5 |
Note: these odds are the odds when the flop has been dealt. The odds of hitting your draw with one card to come on the turn are slightly different, because there will be one less unknown card left in the deck, just like calculated in the last example. One quick tip about how many cards you should use for estimating your odds: if you are facing a bet on the flop (two cards to come) and it isn't an all-in bet, then you are not very likely to see both the turn and river card for just that single bet. You will very likely be facing another bet on the turn. Therefore you have to look at the odds of hitting your draw with just one card to come.
Comparing the odds - drawing correctly in poker
Once you've determined the rough pot odds and odds of hitting your draw, than you can compare them to find out if calling on a draw would be profitable. We already know that:
Regarding the example above: you can calculate the percentage of actually winning with your draw versus certain holdings using an odds calculator. Another program called PokerStove makes it possible to calculate the chance of winning (your equity in the hand) versus a range of possible holdings. PokerStove is free to download and it is highly recommended that you play around with some hand match ups on different board types to develop a sense of how the odds of winning might differ from the odds of hitting your draws.
Other important odds in poker - Implied odds
As long as you aren't calling (an) all-in with a draw than there is money left to be bet on later streets. The money that could possibly be won when you hit your draw besides what is already in the pot when making the call can make a play profitable that would appear to be a mistake when only considering the pot odds. These extra odds are called implied odds.
The concept of implied odds is very important to apply correctly as in many occasions pot odds alone won't justify a call. By disregarding implied odds you could often be folding in spots where calling would be very profitable instead. By regarding and overestimating implied odds however, you could just as often be calling in unprofitable spots. There are several factors to consider when making an estimate of the implied odds:
Effective stack size
This is the smallest stack of the players battling it out. There won't be any more money to be bet after the person with the smallest stack is all-in (unless 3+ players are in a hand and a side-pot will be built). The bigger the effective stacks, the higher the implied odds.How well concealed is your draw when it hits?
A straight draw with one hole card and three cards to a straight on the board does not offer the implied odds of a straight draw for which you use two of your hole cards. In the first case, mostly every opponent will become very cautious when you hit your straight and therefore your implied odds are low.Your opponent's tendencies
Some players just can't let go of their holdings although all the obvious draws completed and you scream at them you've got it with a large raise. These players offer high implied odds. Conversely, weak players might let easily go of their hand after a draw completes and don't offer high implied odds.Your own image
If you are generally tight and only bet with very strong holdings your opponents might be aware of that and are less likely to pay you off when you hit your draw. This point will be less valid at the lower stakes where your opponents will generally stay unaware of a tight playing style.
As you can see implied odds are impossible to determine exactly, because they depend on some variables you can only estimate. Of the three factors mentioned, stack size will surely be the most important one to pay attention to at the micro stakes no limit games.
Effective stack sizes can be determined exactly and they form the upper threshold of your implied odds. Your opponent's tendencies, your own image and the concealed nature of your draw determine how much lower than this threshold your implied odds will eventually be. This is very important to realize in order to not structurally overestimate your implied odds.
An example of implied odds - set mining correctly
No Limit Texas Holdem Basic Strategygy
A very common mistake that a lot of people make at the micro stakes no limit hold'em games is incorrectly 'set mining' (or 'set farming'). That is: without the implied odds necessary people call pre-flop raises with a small or medium pocket pair in the hopes of hitting a set (three-of-a-kind) and winning a big pot from someone holding a very strong hand like pocket aces.
As most of the nano and micro stakes players are of the kind that doesn't let his or her hands go too easily it won't be the lack of attention to the opponent's tendencies that causes people to set mine without implied odds but rather the lack of attention to stack sizes. A lot of people will buy in with a short stack that doesn't leave much money to be bet after the flop and hence doesn't offer any implied odds, neither for the short stacked player's opponents nor for the player in question himself.
Because people don't let go of their hand in the micro stakes very easily, correct set mining will be very profitable and certainly should be part of a basic winning poker strategy. So, let's take a closer look at some facts concerning set mining:
However: rake is taken from the pot, reducing your winnings; your opponent does not always have a strong hand when you finally hit your set and therefore you sometimes won't win any extra bet with it; you might sometimes hit a set and loose to a higher set and finally you could missclick fold your set once in a while after your opponent went all-in on the flop.
What all this means is that you should be looking for implied odds of at the very least 10 times the pre-flop call when set mining. Or in other words: the pre-flop call should be no more than 10% of the effective stacks. There is a simple rule of thumb for correctly set mining called the '5-10 rule'. If the pre-flop call is 5% or less of the effective stack size then it is always profitable to call. If it is between 5 and 10% then you should only call if the opponent is very likely to have a strong hand and/or this opponent has a hard time folding marginal hands. If it is more than 10% then calling to set mine will not be profitable in the long run.
Putting it all together - micro stakes online poker strategy
You might have noticed that very little actual plays have been discussed. We briefly discussed continuation betting and maybe dug a little deeper into set mining. Nothing was mentioned about bluffing, bet sizing, stealing blinds, how to play aces, when to check-raise and exactly what hands to play and which not. And I have to admit that just knowing all of the above concepts won't get you very far if you don't truly understand them and correctly implement them at the tables. I do believe however, that an understanding of these concepts automatically leads you to making correct plays in many occasions. Let's take a closer look at some of the plays mentioned just now and see how to use or execute them at the micro stakes with the basic poker strategy fundamentals as a starting point.
Some actual micro stakes cash game strategy
At the online micro stakes cash games you will find a lot of loose and passive opponents. They generally tend to call a lot, even with very marginal holdings. These opponents don't have a very good understanding of the game and therefore won't pay attention to most of the variables and subtleties to which you do pay attention from now on :-). Because of this they tend to offer good implied odds (if they have enough chips at the table); they offer good pot odds for your draws by not betting strong post-flop; they don't take the initiative in the hand very often and they have a wide range of possible holdings.
Bluffing will not be a very effective tool against such opponents. Bluffing is essentially trying to let your opponent fold the best hand by telling him or her with your betting pattern that your hand is the better one. Bluffs can only work if the story is right (adds up) and if the opponent picks up on it. Most of the loose and passive opponents described above won't pick up on your betting pattern and call when they should not.Therefore the level of understanding your opponents have of the game of poker is often the key to whether a play can be seen as creative and well thought out or just as dumb FPS (see first paragraph).
You can bluff successfully at the lower stakes, but the right spots for it are just so few that not bluffing at all will not hurt your profitability very much. On the contrary, it might even prevent you from bluffing in wrong spots where you get called and therefore save you money. Also note that c-betting is a form of bluffing and be less inclined to c-bet against particularly loose opponents and/or on very wet flops.No Limit Texas Holdem Strategy
If you find, for instance, pocket aces pre-flop and face a raise from your opponent, see if you can make a re-raise that is large enough so that set mining against you won't be profitable. Don't make the minimum re-raise (min-raise)! Of course, if the initial raise was small and stacks are large (deep) then denying proper set odds won't be possible and you shouldn't make excessively large re-raises (anything larger than 4 times the initial raise) just for this purpose.
The most important no limit texas hold'em strategy fundamentals - conclusion
Think about the strength of your hand as being relative. Think of where it stands compared to the range of hands your opponent can have. Look at the board, your own and your opponent's position, your opponent's betting pattern. Try to take the initiative in hands and always see bet sizes in relation to the pot size. Know your odds of hitting a draw roughly and compare them with your pot odds. Don't forget to take implied odds into account and you are already playing with a big edge over your opponents at the lower stakes. Keep improving your game by playing a lot, analyzing your play and reading forums (or this website :-)) and who knows where your journey will end!