Poker Strategies
After receiving pocket cards, you are immediately faced with a choice: play your cards and either raise or call the blinds, or fold.
Practice Matters
4) The average amount lost
4) The average amount lost (-$320 on the Win Streak of 1 is identically offset by the average amount won (+$320) on the Loss Streak of 1. 5) Nothing is gained or lost on the Win/Lose Streaks of 2. There is a total of 32 of these streaks or 25% of the total theoretical number of streaks occurring (128.) Thus, these two streaks appear to be a waste of gambling time during flat betting. (Observations such as this can lead to choosing better betting strategies/systems! More about this later). 6) The other Win Streaks (3-7) winnings are offset by the Lose Streaks (3-7) losses. See further the difference column in Table 3-3 all of which entries are zero (0). Consequently, in theory, there is no net advantage of flat betting in a 50/50 game! Wiley also points this out but remember this only occurs in theory (the random process in gambling is wilder than theory!)
7) Looking downward in the Cumulative
7) Looking downward in the Cumulative When Lose column at a length of Lose Streak of 7 the amount lost is: ($35). This $35 is the Risk of Flat Betting with $5 minimum bets truncated at a Lose Streak length of 7. 8) Table 3-3 has been terminated (truncated) at streak lengths of 7 rather than 11. Whenever one truncates a Win/Lose streak by saying, “this is as far as I’m going in the betting of this streak” (particularly during a lose streak) the streak can end on a high note or a low note. A high note if the streak ends in a win. A low note if the streak ends in a loss. Truncation can be made at any streak length one wishes or the casino may truncate it for you by limiting your maximum bet! The truncation length of win streaks can be different than the truncation lengths of lose streaks.