Calculating the Odds : Gambling and Betting to Win

How To Calculate the Odds

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it below which he would not back his hand. Apart from 'bluffing,' such rules are not affected by the probability that a 'call' may be made; for the persistence of other players in raising will depend on the quality of their hand.
But we touch here on a characteristic of this game of poker, which makes it a really excellent game for non-gamblers, because calling so largely on the exercise of judgment, and also depending so much on individual character. As a parlor game, with counters instead of coin, it is one of the best and most amusing I know of. It is strangely contrasted with whist, calling for the exercise of very different mental faculties, but bringing out traits of character in quite as marked a degree. As a result of confidence in luck, either general or at any particular time, poker-players often trust in hands of far less value than such as would give a fair !chance of winning. It never seems to occur to them
that the possession of a bad hand should in itself be regarded, if the theory of luck were sound, as an evidence that at the moment they were not in the vein; and that the principle ' back your luck' would suggest that the hand should be thrown up, for backing it means backing bad luck.
Of course this does not apply to bluffing, which, however, is not considered good poker-playing, at least
as a system A player may




and the bolder his bluff the better his chance of winning; for his opponent has to pay to see his hand--he has, indeed, in a sense, not to pay but simply to stake so much money; but, according to the true doctrine of chances, staking means payment of a certain sum for a certain chance. Now, when a poker-player raises the stakes by a very large amount, he means, if he is not bluffing, ' I have a very good hand ;' and it is not wise, if that is the case, to pay a large sum for the privilege of seeing how good his hand is, unless your own is so good as to give you a very good chance of having the better. Even then it is better to see and go better than to call. Per by so doing you have two chances to one --the chance that, seeing you so confident, he will not go on, and the chance that when the call is made you will be found to have the better hand. Now, a bold bluff often forces success--if the player is not given to bluing. If he is, he is soon found out; and thereafter he bluffs at his proper peril. Probably no bluffing poker-player has ever been successful for any great length of time. Even if he is so wealthy that he can stand a few checks so far as his pocket is concerned, he begins to lose nerve when a few large bluffs have been :met with a call and his pockets have suffered accordingly. But the player who nine times out often plays the straight game, may often win largely by an occasional bluff-if he is ready to overlook the fact that a bluff is a lie.
But the avoidance of bluffing takes away none of the good qualities which poker has as a game of skill.


 

 

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