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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 l.jpg

MBA Card Club

Version 1.2 – 01/15/2009 - NT


Agenda l.jpg

Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


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Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


Introduction l.jpg

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


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Introduction

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


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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.


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Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


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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


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Hands

weakest

strongest


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Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


Position l.jpg

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.


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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.


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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


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Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


Blinds l.jpg

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.


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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.


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Blinds


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Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


Starting hands l.jpg

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


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Starting Hands

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


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Starting Hands

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


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Starting Hands

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


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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


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Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


Counting outs l.jpg

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.


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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.


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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 l.jpg

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%.


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Counting Outs

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


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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


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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


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Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


Pot odds l.jpg

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.


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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.


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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.


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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 l.jpg

Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


Betting l.jpg

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


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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 l.jpg

Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


Opponents l.jpg

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.


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Agenda

  • Introduction

  • Hands

  • Position

  • Blinds

  • Starting Hands

  • Counting Outs

  • Pot Odds

  • Betting

  • Opponents

  • Other / Misc


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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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