Lesson 1 Flashcards
True or false:
Equity describes how often I win the pot
False, it describes the % of me winning if we go all in and flip over our cards
True or false:
I can’t always realise my equity
True, I can fold a better hand, or a worse hand that has 2% but when i fold i realize 0% of my equity…
True or false:
The equity of my hand is a major factor in determining what I should do
Of course, it is a major factor, there are other factors but equity is major
True or false:
My equity describes how profitable a play will be
False. How profitable a play will be - that is EV not equity. Equity is a major factor in determining ev but not the only one.
Equity describes a percentage of the time i would have won an all in, not expected $ amount..
True or false:
equity has nothing to do with bluffing on the river
False. We bluff our low-equity hands…
True or false:
My equity is how often my hand would win vs my opponent’s range if both players flipped over their cards and went to showdown
True, this is the definition of equity.
True or false:
Bluffing with low equity is almost always a bad idea
False. If it was true this would mean that bluffing is almost always a bad idea.
True or false:
EV is a measure of the average monetary outcomes of our choices in a hand
True, that is the definition of EV.
True or false:
We can calculate our EV by doing mathematical sums in any spot
False, I need to know my opponent’s EXACT strategy to do that (and even then it would be very difficult). The only reason a solver know the EV it is it knows perfectly the other (perfect opponent) player’s strategy and range.
EV is estimated very roughly by weighting up the most relevant factors
True. That is what we do as poker players - weigh in the relevant factors and take the higher EV actions.
We can estimate higher ev or negative ev but of course almost never “$2.6”.
True or false:
Our main goal in poker is to find action which is plus ev
False. It is to find the highest EV play. For example, going open shove 400BB preflop is plus ev, but not the highest EV option available.
Also, folding is always 0EV is the goal of playing in a way that is better than always folding isn’t a good goal :D
True or false:
EV considers factors that equity can’t, such as fold equity and position
True. This things matter to our EV, but not our equity which is fixed by our cards
True or false: a hand can be entitled to less of the pot in ev than it has in equity
of course. 22 on QJ7r vs AK preflop raiser, good luck realizing your equity :) Even if we look at EV as percentage of the pot (which can be more than 100% of the pot btw) it’s very different than the percentage of the equity in the pot…
True or false:
My hand’s EV is mostly to do with having more skill than my opponent
False. Factors like position,equity,fold equity etc are major, skill can be a factor but it’s not major (and in theory of course isn’t a thing as the two opponents are perfect).
Over the long run it’s the only thing which matters but in a single hand it’s very tiny. Otherwise I would be able to open 72o UTG because I’m the best…
True or false:
It’s possible for a hand to have 150% of the pot in EV
True. Very strong hands are entitled to more than just the current pot since there are bets to come in the future.
If it was not true, then it means that if I have a straight flush on the turn (100% equity) then I’m only entitled to the current pot and nothing more.
BU vs SB 3-bet pot on 742hss.
SB has KK with Ks.
His equity is 81%. Will his EV be higher or lower and why?
His EV will be much higher (150% pot) because future bets will go into the pot.
BU vs SB 3-bet pot on 742hss.
BB has 66 with 6s.
His equity is 58.28%. Will his EV be higher or lower and why?
Less(40.9%), because equity realization will be lower (despite he has position).
BU vs BB
883r
BU has T9s BB has A2s
BU bets 33% cbets 33% and BB folds.
How much equity does BU have after that?
100% equity- he won the pot.
That’s despite BB having more equity.
Equity doesn’t tell us who is going to win the pot. It’s very common in poker that I have to fold the best hand or call with a worse hand.
BU vs BB
883r
BU has T9s BB has A2s
BU bets 33% cbets 33%.
If A2suited no flush draw is a breaking even call/fold, what does it mean for A2s with a backdoor flush?
Since it’s a better hand than a hand that we know is a breaking even call, It’s a mandatory continue, so either as a call or a raise.
UTG vs BB SRP,
Flop comes KK7hcc.
- How often does GTO c-bet as UTG and why?
2.What does BB do with QThh (backdoor straight, backdoor flush)?
- Bet it 100% of the time, this is because while UTG and BB have the same amount of K-x hands (BB has K4s for example that UTG doesn’t), UTG has more Kx as percents of his range. But it’s more that UTG has a big range advantage, on 722 UTG also bets his entire range small, much like KK7.
- Fold, so BB doesn’t realize his equity.
Name a few factors that differentiate between EV and equity (eg ones that ev takes into consideration other than equity)
Position, implied odds, realizability.
sb vs bb srp
flop q98 2-tone,
sb has 54% equity and 51% ev. Why does sb have less equity than ev?
because of position
BU vs BB SRP,
flop comes Q75r.
We,BU, have Q9s.
What are the pros and cons of betting the hand?
Pros:
-Can get called by worse hands.
-Denies equity to a random Ax Kx.
Cons:
-Folds hands like J9s which might bluff us in the future
-Builds a bigger pot vs QT+
BU vs BB SRP,
flop comes Q75r.
We,BU, have Q9s.
What are the pros and cons of checking the hand?
Cons:
-Doesn’t build the pot vs worse hands
-Allows Ax Kx to draw
Pros:
-Allows villain to bluff
-Doesn’t build the pot vs QT+
BU vs BB SRP,
flop comes Q75r.
We,BU, have Q9s.
What’s the verdict of GTO regarding our hand?
What’s the point about thinking about pros and cons of checking vs betting?
GTO is indifferent between betting and checking.
a hand of poker is like a tree with many possible branches.
When searching for the highest ev play, we should think about the branches with the highest frequency and magnitude, and not focus only on one branch of the tree.
For example,”Why did you let Ax get there, you deserved to lose the hand” is only one part of the tree where we checked. Or, checking because he has better hands than us who call, is focusing only on one part of the tree and playing scared poker.
What’s the tunnel effect pitfall?
Focus only on one aspect of the branch of the tree or villian’s range, instead of the entire tree and the entire villian’s range
Find the tunnel vision in the following:
I bet to get protection from flush draws
or
I bet to get value from pocket pairs
You focus only on one part opponent’s range
Find the tunnel vision in the following:
I bet because I had top pair
It’s not even an analysis, you have to compare the EV of betting and checking.
Find the tunnel vision in the following:
I bet because I didn’t want to face a river bet and be in a tough spot
It’s an emotional investment and not an analysis. Also, you can face a check-raise now and be in a tough position anyways.
