Calculating the Odds : Gambling and Betting to Win

How To Calculate the Odds

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hand with more or less boldness, according to its quality and his temperament. He still requires to exercise judgment as to the actual or relative value of a hand; he still has to note observantly what is done by other players, what cards they draw, what their ways are in standing on a hand, in holding when advances are made by others, and so forth.
In actual play for money the use of a good limit below which the player makes it a rule to stand out is sound policy; for in the long run the player whose lowest hand for backing is a strong one, as two aces, or low threes at the least in small companies, and high threes in large companies, must come off well. He will win more than he loses. But it must be remembered that constant caution is apt to diminish the profits of successful ventures. The poker-player wants others to play high when he has a winning hand, and if it becomes known that he never backs any but strong hands, none will 'raise' very much against him. To succeed in pocketing a large share of other people's money, which is the true poker-player's object, the most cautious player must indulge in an occasional extravagance. So also with a very strong hand--one that is practically sure to win--the judicious poker-player must play a waiting game. He must reverse the tactics of the bluffer, who tries to persuade others that his hand is better than it really is; he must try to persuade the rest that his hand is but a poor one; so will they see and raise, see and raise, until there is something in the pool worth winning, when he can see and raise more


 

 

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