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Version 1.2 – 01/15/2009 - NT

Version 1.2 – 01/15/2009 - NT

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Version 1.2 – 01/15/2009 - NT

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  1. MBA Card Club Version 1.2 – 01/15/2009 - NT

  2. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  3. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  4. Introduction • Purpose: The goal of this tutorial is to prepare Texas MBAs for the MBA Poker Championship by providing a foundation for approaching the game. • Poker is a general term referring to a family of card games including but not limited to: • 5-card draw • Texas Hold’em • Omaha • 7-card stud • The most popular forms of poker are Texas Hold’em and Omaha

  5. Introduction • Many people who have business or mathematical backgrounds have had great success in poker.

  6. Introduction • This tutorial will center around Texas Hold’em • There are different variations of Texas Hold’em including: • Limit • No Limit (NL) • Cap-Limit • Pot-Limit (PL) • These terms all refer to the betting limitations of the game • This tutorial will assume No Limit.

  7. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  8. Hands • In Texas Hold’em you have two objectives • Winning the pot • Winning all your opponent’s chips • Who wins is generally determined by who makes the best 5-card hand. • Example: • Your best hand is • K-K-A-Q-8 • Your opponents’ hand: • K-K-A-Q-9 • Because your opponent’s hand is higher, your opponent wins the pot. • The Flop, Turn, and River are community cards everyone can use Opponent’s cards Flop Turn River Your cards

  9. Hands weakest strongest

  10. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  11. Position • Poker is foremost a game of position. Where you sit is very important. • Your position is dictated by the Dealer button, also known as simply the Button. • The button rotates clockwise around the table each hand by one position.

  12. Position • So always be cognizant of where you’re sitting relative to the button and where your opponents sit relative to the button. • If you’re sitting where the button is, that is the most advantageous position in poker. • This is because you act last in all betting rounds except for pre-flop. As a result you have the most information while making decisions because everyone else has acted before you.

  13. Position • In this example: • SB - wilie62 • BB - far_side1986 • Button – oneofbillions • In this round, Gojirra is considered in middle position. LARRY COOL, captainkeg3 and oneofbillions will always act after Gojirra in this hand • This betting round is known as Pre-Flop. Small Blind (SB) Big Blind (BB) Button

  14. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  15. Blinds • Question: • Why are they called blinds and what is their purpose? • Answer: • The blinds force players to commit an amount of money to the pot. In a sense the player is committed somewhat to the hand blindly. Blinds are similar to antes. Without blinds a player could just sit around all day waiting for premium hands without committing any chips. Paying the blinds is known as “posting” the blinds. • Poker games are denoted by their blinds. The difference between a cash game and a tournament is that in a cash game, blinds are fixed, meaning they never change. • In tournaments, blinds increase at set periodic intervals. For the MBA Poker Championships, blinds increase every 30 minutes.

  16. Blinds • In Vegas blinds can range from $0.50/$1.00 all the way to $2000/$4000 or more. The notation is small blind/big blind, or SB/BB. So in a $1/$2 game, the small blind is $1 and the big blind is $2. • Always think of your stack of chips as a multiple of the big blind. This variable is M. • M < 30 – short stack • 40 < M < 60 – medium stack • M > 100 – deep stack (the term big stack is somewhat relative) • A good rule of thumb when joining a cash game is to sit with 100 big blinds. So in a $1/$2 game, you want to sit with $200. • In tournaments, you need to be more conscious of your M because the SB/BB increases every 30 minutes. • MBA Poker Championships • Friday your M starts at 50. • Saturday your M starts at 100. • Sunday your M starts at 80.

  17. Blinds

  18. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  19. Starting Hands • In Texas Hold’em the 1st two cards dealt to each player are face down. These are known as your hole cards since they aren’t exposed. As a result, understanding the strength of these two cards is crucial to success. • The following slides will give you an idea of how to mentally categorize them. • Notation • T = ten • s = suited • x = any none face card, ie. 2 through 9

  20. Starting Hands Credit: Hold’em Poker For Advanced Players by Sklansky and Malmuth

  21. Starting Hands Credit: Hold’em Poker For Advanced Players by Sklansky and Malmuth

  22. Starting Hands Credit: Hold’em Poker For Advanced Players by Sklansky and Malmuth

  23. Starting Hands • Jargon • AA – pocket rockets, American Airlines, bullets • KK – cowboys • QQ – the ladies • AK – big slick • T2 – Brunsons, named after Doyle Brunson • 22 – deuces • Any Two Cards (ATC) • The nuts – the best possible hand that can be made given the current board • Other names • 23,34,78,89, JQ, QK, these are known as connectors. When these cards are of the same suite they’re called suited connectors. They’re connectors because these hands help make 5-card straights. • Cards like 24 or 35 are 1-gappers • Cards like 36 or 69 are 2-gappers

  24. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  25. Counting Outs • Counting outs is a technique for determining what cards can help improve your hand to a winning hand. By definition, an out is any card which can help make your hand a winning hand. • Counting outs is also is a shortcut for calculating mathematical probabilities of winning. • Remember there are 52 cards in a deck, so 13 cards in a suite. • For example: If you are holding 34, and the flop comes 5-6-K. You have 8 cards which can help you make a straight. The 4 remaining 2s and the 4 remaining 7s. This means you have 8 outs or a 32% chance of making a straight.

  26. Counting Outs • Example illustrated: Opponent’s Hand Opponent’s Hand The Flop The Flop Your Hand Your Hand • This is an open ended straight draw. • Because you can make a straight on either end of the 3-4-5-6.

  27. Counting Outs • Example illustrated continued: Opponent’s Hand 8 outs total The Flop Your Hand • Currently your best 5-card hand is 3-4-5-6-K. • What you hope is that a 2 or 7 comes to make a straight. • Illustrated above, there are 8 outs to make a straight. • Rule of 4: 8 outs * 4 = 32% chance with two cards to come.

  28. Counting Outs • There are 3 simple tricks to counting outs • Rule of 4 • On the flop, take the number of outs you have an multiply by 4 to determine the percentage chance of making your hand with two cards to come • Rule of 2 • On the turn, take the number of outs you have an multiply by 2 to determine the percentage chance of making your hand with one card to come • Solomon’s Rule • This is a more accurate application of Rule of 4. First perform the Rule of 4, then for each out over 8 subtract 1%.

  29. Counting Outs Credit: Hold’em Poker For Advanced Players by Sklansky and Malmuth

  30. Counting Outs Your hand • Example: You have A5 suited but are losing (behind) to a pair of Kings. • However you have 12 outs. • There are 9 remaining clubs which can help you make a flush, and 3 remaining Aces which can help you pair your Ace. 9 + 3 = 12 • Rule of 4: 12 x 4 = 48% (quick and easy calculation) • Solomon’s Rule: 12 x 4 – (12-8) = 48% - (12-8) = 48% - 4% = 44% (more accurate) • So you have a 44% chance of making a winning hand. The flop Opponent’s hand

  31. Counting Outs Your hand • Outs (20 total outs): • 9 clubs remaining for flush • 3 remaining aces to pair your ace • 8 outs for a straight, 4 sixes and 4 jacks (split pot) • Because you’re on the turn, use the Rule of 2 • 9 * 2 = 18% of making a flush • 3 * 2 = 6% chance of pairing your Ace • 8 * 2 = 16% of making a straight on the board, you and your opponent would split the pot evenly • So you have a 24% chance of winning and a 16% chance to tie your opponent with 1 more card to come • Or 20 x 2 = 40% • The last communal card is known as “The River” or 5th street Your hand The Flop The Turn The flop Opponent’s hand Opponent’s hand

  32. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  33. Pot Odds • Calculating pot odds requires 3 simple mental math calculations • The size of the pot • The number of unseen cards remaining • The number of outs you have 1. The size of the pot • Scenario: The pot is $20, and your opponent has bet $5. • Calculation: The pot is now $25 ($20 + $5). It will cost you $5 to continue in the hand. Your pot odds are 5 to 1. In other words you are getting 5 to 1 on your money. • If you call your opponent’s $5 bet, the pot will be $30.

  34. Pot Odds • The number of unseen cards remaining • Pre-flop • Pre-flop you are dealt 2 cards. • So pre-flop there are 50 unseen cards. • The Flop • 3 community cards are dealt face up • So on The Flop there are 47 unseen cards. • The Turn • 1 more community card is dealt face up. • At this point you have seen 2 cards face down, 4 cards face up so 52 - 6 = 46 unseen cards. • The River • 1 more community card is dealt face up. • So 45 unseen cards. • Calculating pot odds on the river is somewhat moot because no more cards are coming.

  35. Your hand The flop Opponent’s hand Pot Odds • The number of outs you have • Using this example again: You have 12 outs on the flop to make either a flush or a pair of aces. Assuming you have not seen your opponent’s pocket kings, there are 47 (52-5) unseen cards remaining in the deck. So 12 cards out of the remaining 47 can help you make a winning hand. So the odds are 3-to-1 against you making your hand.

  36. Pot Odds • Putting is all together • The Flop • 3 community cards are dealt face up • So on The Flop there are 47 unseen cards. • So the odds are 3-to-1 against you winning. • If the pot is $20 and your opponent bet $5, you’re getting 5-to-1 pot odds • Because the pot odds offered of 5-to-1 is greater than the 3-to-1 against you winning, mathematically you should call your opponent’s $5 bet.

  37. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  38. Betting • There are 4 rounds of betting. • Before the flop, this is known as pre-flop • On the flop • On the turn • On the river • You can win the hand at any stage • When betting always use the same hand and the same motion when you bet. This way you aren’t disclosing any information about your hand. Example: Chris Ferguson

  39. Betting • How to think of your bet • In terms of multiples of big blinds • In terms of the size of the pot • In terms of your opponent(s) stacks • In terms of multiples of big blinds • A standard size bet is 3x the big blind. • If you’re playing $100/$200, raise $600. • If you’re playing $1/3, raise $9. • A big bet is 6 BBs or more. • In terms of the size of the pot • If the pot is $100 and you bet $50 you’re betting half the pot. Your opponent is now facing $150/$50 or 3-to-1 pot odds to call. • If the pot is $100 and you bet $100, you have bet the pot. Your opponent is now facing $200/$100 or 2-to-1 pot odds to call. • If you think in this way, you are manipulating the pot odds your opponent faces • Also think in terms of managing the pot size, whether you want a big or small pot depending on the strength of your hand. • In terms of your opponent(s) stacks • If you are playing $1/2 NL and your opponent has $20, his M = 10. When M < 20 this is considered short-stacked. Therefore if you raise $10, he/she is more likely to push all-in. • Always be mindful of your opponents’ stack sizes

  40. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  41. Opponents • There are 4 styles of playing • Tight-Passive • Tight-Aggressive • Loose-Passive • Loose-Aggressive • Tight means that a player does not play a lot of hands. • Loose means you play a lot of hands • Aggressive means they bet frequently, passive means they limp a lot (enter the pot by simply calling instead of raising). • Good players are either Tight-Aggressive or Loose-Aggressive. • When playing poker against other people, you should determine their style of play and then determine the range of hands they like to play.

  42. Agenda • Introduction • Hands • Position • Blinds • Starting Hands • Counting Outs • Pot Odds • Betting • Opponents • Other / Misc

  43. Other / Misc • Proper Shuffling • In home games, shuffle with you thumbs like they do in Vegas. This is so no one can see the cards as they’re being shuffled. • Occasionally you should also “wash” the cards. Washing the cards does not mean cleaning them, it means moving them around with your hands in a messy pile face down before organizing them into a deck again for shuffling. • Rake • How the House makes money off poker games. • Chip tricks • Something to do with your fingers and impress others with. Use YouTube to learn. • Tells • Anything that helps you read a player better. See Mike Caro’s tutorials. • Reads • by Daniel Negreanu 12 • by Kenny Tran 123