as the number of needed cards you see reduces your
chances of improving your hand, your position in the
sequence of betting may also reduce the pot odds you
are getting. If a player ahead of you bets and there
is a possible raise to your left, you must be cognizant
of the fact that that possibility cuts down on your
odds. If, for example, there is a $100 pot and the
bet is $20, you appear to be getting 6-to-1 odds ($120
to $20). However, when there is a raiser behind you
and the original bettor calls, you are really getting
only 41/2-to-1 if you call the raise. Although the
pot has grown to $180, you must put in a total of
$40. If the original bettor reraises, your odds drop
to 3%-to- 1. The pot grows to $220 (assuming the opponent
behind you calls the reraise), but you have to put
in $60. What's more, your chances of winning, even
when you make your hand, have certainly decreased
with all that raising going on between your opponents,
suggesting they have pretty big hands.
How does the concept of position vis-à-vis
pot odds work in practice? Let's say in seven-card
stud you have a four-flush in six cards and a player
to your right bets after pairing his door card. (The
door card is the first open card the player receives.
When it is paired on board, trips, or three-of-a-kind,
is a strong possibility since the player may have
started with a pair.) At the same time that the player
with the open pair bets, you notice that a player
to your left has caught a card that looks as if it
has made him a straight. Before you call the first
bet, you must be aware that the player to your left
may raise if he made a straight (or even if he didn't).
Furthermore, the original bettor may reraise with
three-of-a-kind or, of course, a full house. So before
calling the first bet, you have to assess your pot
odds not just at the moment but in the event there
is a raise or two behind you. You also have to decide
what your chances of winning are if you do make the
flush. You would, of course, beat the straight, but
the question is whether the original bettor is the
kind of player who would bet into a possible straight
with less than a full house or at the very least three-of-a-kind.
Adjusting your pot odds before calling a bettor to
your right with players behind you comes up most often
in games like five-card draw, draw lowball, and hold
'em, where position is important.
standard model for a tournament is that for a small
buy-in you get a fixed number of chips. At fixed time
intervals, the blinds, antes, and/or limits are increased.
Doubling every thirty minutes is common. In larger
tournaments, they might double every hour, in small
tournaments every twenty minutes. The intent of the
design of the structure is to ensure a timely completion
of the event. Small events are intended to be over
Part of the buy-in is juice-money that is paid to
the house as a fee and doesn't go into the prize pool.
This is usually expressed as 20+5 for an event with
a $25 total entry fee, $20 of it a buy-in that goes
to the prize pool and $5 of it going to the cardroom
as a hosting fee. In the very small tournaments, the
juice can get to be pretty large as a percent of the
prize money. High juice does tend to keep the better
players doing something else: competing in the small
buy-in tournaments. So high juice isn't all bad for
the new or novice players.