During the Basic Live Coaching, TerrorBlade played a hand that generated quite a bit of discussion and seemed like a good one to post in order to talk about a few things. This took a while and became really detailed so I usually won't post like this, but here's a complete hand analysis that may interest you.
$0.05/$0.1 Fixed-Limit Hold'em (10 handed)
Preflop: Hero is CO with 8:c, T:c.
6 folds, Hero raises, BU folds, SB 3-Bets, BB folds, Hero calls.
Spoiler
- TerrorBlade open raised the CO with T♣8♣. This hand isn't in the open raising chart (ORC) for the Basic or Bronze sections - T9s is the cut off for bronze - but against 3 random hands we have almost 29% equity.
- By comparison T9s, a standard CO open raise from the charts, has 31% equity.
- Average equity for the remaining players dealt in is 25%. IF everyone behind Always called, we would have a profitable raise.
- When they don't all call, there are different possible outcomes. We can get raised by our opponents. We can induce the button to fold and play in position. We can get one or both of the blinds to fold and create dead money. OR all the players can fold and we can win immediately.
- When theres dead money in the pot then we need less than average equity to play our hand profitably because our total investment for the hand will always be less than average equity.
- Because of these possibilities (and there are many) his preflop raise is a profitable one.
- As it turns out TerrorBlade gets 3-bet by the SB. Getting 6.2:1 he's correct in calling whenever he has more than 16.6% equity against the hands his opponent will re-raise. Effectively, this is 100% of the time. He can only find a marginal fold if his opponent only ever has pocket tens (16.4% equity) AND plays exceptionally well. These are not good assumptions. Our SB will have far more hands and we have the strategic advantage of being in position.
Flop: (7 SB) 8:s, J:d, 3:h (2 players)
SB bets, Hero calls.
Spoiler
- SO, on to the flop. We hit 2nd pair with a middle kicker. When we're behind we usually have 5 outs (any 8 or T) but we can also be ahead. Many hands like AT, AQ, AK, are now drawing to 6 or 3 outs. Against AK we're a ~75% favorite.
- If we give the SB a very strong 3-betting range [99+,AQs+,AQo+] it turns out we have just under 50% equity.
- Now, the question becomes: How should we continue with a good or marginal made hand?
- Because we have a lot of equity (nearly 50%), then we should tend to show down even if we're not ahead.
- The reason we should show down is because there's already quite a bit of money in the pot -- roughly 3BB (big bets) before his continuation bet on the flop.
- If we compare this with our cost to call down (2.5BB) and add that our opponent would also be putting in 2.5BB (if he bets every street) THEN:
- CostToShowDown/TotalPot = 2.5 / (2*2.5 + 3) = 2.5/8 = 31%
- This 31% is very roughly our required equity to show down. Because theres extra betting rounds we can sometimes improve and raise expecting to be ahead. This increases our post-flop investment for the hand. If we're not ahead our cost to show down has gone up. This figure also assumes he'll bet each street with worse hands. He may simply check/fold with some worse hands and this means we need to win more in the pots that we do win (good implied odds) and/or have a hand that can win more often (stronger equity).
- As it turns out in this case, we have quite a bit more than 31% equity even against [99+,AQs+,AQo+]. So, if our opponent bets the flop and turn we should very often at least call.
- Often times an opponent will check the river with their weak hands and we can sometimes bet for value, but if we are bet into we should also often call.
- We can fold only when we know our opponent is on strong hands. We usually cant be so sure. At 7:1 on the river we only need to win 12.5% of the time to break even.
- Often times people decide that when they only have 5 cards to improve their hand then they should fold on the turn since they're only getting 5.5:1 (~7.2 outs needed for BE). However, when you have a hand that might be best to go with your draw then the cost to draw is discounted by the chance that you're actually ahead. Conversely, having a draw to go with your hand also discounts your cost to show down.