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Game Theory to Call Possible Bluffs
Just as you can use game theory to bluff, you can also use it to call possible bluffs. Usually when your hand can beat only a bluff, you use your experience and judgment to determine the chances your opponent is bluffing. If your hand can beat some of your opponent's legitimate hands, then you do a standard comparison of your chances of having the best hand plus the chances your opponent is bluffing against the pot odds you are getting. However, against an opponent whose judgment is as good as or better than yours, or one who is capable of using game theory to bluff, you in your turn can use game theory to thwart that player or at least minimize his profits.

Suppose the pot is $100, and your opponent assumes you will fold one out of three times rather than call a $20 bet. It then becomes profitable for that opponent to come out bluffing $20 to win $100 because he figures to lose $20 twice but steal $100 once for a net profit of $60 and an expectation of $20 per bet. By the same token, if your opponent thinks you will never fold in this situation, he will never bluff. Therefore, it behooves you to have an opponent think you might sometimes fold, but you should call sufficiently often to catch his bluffs.

When you use game theory to decide whether to call a possible bluff, you make calculations similar to those you make when deciding whether to employ a bluff yourself - and you randomize your calls just as you randomize your bluffs. You figure out what odds your opponent is getting on his possible bluff, and you make the ratio of your calls to your folds exactly the same as the ratio of the pot to your opponent's bet. If your opponent bets $20 to win $100, he is getting 5-to-1 on a bluff. Therefore, you make the odds 5-to-1 against your folding. That is, you must call five times and fold once. You can use key cards to randomize again - for example, if you catch certain unseen cards, you fold. Otherwise, you call.

In contrast to using game theory to bluff, using game theory to decide whether to call doesn't turn an unprofitable situation into a profitable one. All it does is prevent your opponent from outwitting you - just as using a coin in the odds-evens game prevents your opponent from outwitting there. If your opponent is using optimum game theory strategy to bluff, there is still nothing you can do to get the best of him.
Medium Pairs 
 
Should I play this pair?

No, I shouldn't. I've got one 5 gone, and one 10 gone. My two-card flush is alive but this is a long shot, because my pair isn't live and my kicker is small and not completely alive. And I have two players behind me with bigger upcards than my cards. A pair of l0s isn't a bad starting hand, but this situation is a pretty easy fold in a no-ante $1 to $5 game.

If you're playing in a higher limit game, with antes, and if there's some chance that a raise will steal the antes, then a raise might be appropriate, but even then it's close. In the typical $1 to $5 game with no antes, the risk that a player behind you has your pair beat isn't large, but it's too large to be worth the gamble. Because of all your dead cards, your chances of catching up are pretty slim.
 
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