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MBA Card Club. Version 1.2 – 01/15/2009 - NT. Agenda. Introduction Hands Position Blinds Starting Hands Counting Outs Pot Odds Betting Opponents Other / Misc. Agenda. Introduction Hands Position Blinds Starting Hands Counting Outs Pot Odds Betting Opponents Other / Misc.

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version 1 2 01 15 2009 nt

MBA Card Club

Version 1.2 – 01/15/2009 - NT

agenda
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
agenda3
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
introduction
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
introduction5
Introduction
  • Many people who have business or mathematical backgrounds have had great success in poker.
introduction6
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.
agenda7
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
hands
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

hands9
Hands

weakest

strongest

agenda10
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
position
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.
position12
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.
position13
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

agenda14
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
blinds
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.
blinds16
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.
agenda18
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
starting hands
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
starting hands20
Starting Hands

Credit: Hold’em Poker For Advanced Players by Sklansky and Malmuth

starting hands21
Starting Hands

Credit: Hold’em Poker For Advanced Players by Sklansky and Malmuth

starting hands22
Starting Hands

Credit: Hold’em Poker For Advanced Players by Sklansky and Malmuth

starting hands23
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
agenda24
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
counting outs
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.
counting outs26
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.
counting outs27
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.
counting outs28
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%.
counting outs29
Counting Outs

Credit: Hold’em Poker For Advanced Players by Sklansky and Malmuth

counting outs30
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

counting outs31
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

agenda32
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
pot odds
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.
pot odds34
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.
pot odds35

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.
pot odds36
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.
agenda37
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
betting
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
betting39
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
agenda40
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
opponents
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.
agenda42
Agenda
  • Introduction
  • Hands
  • Position
  • Blinds
  • Starting Hands
  • Counting Outs
  • Pot Odds
  • Betting
  • Opponents
  • Other / Misc
other misc
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
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