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TexasHold’em Poker

There are four stages: (i)everyone gets two cards, (ii) three cards are dealt face up in the middle (thisis the “flop”), (iii) a fourth card is dealt face up in the middle (“fourthstreet” or the turn), (iv) then a fifth (“fifth street” or the river). Aftereach stage is a round of betting. At the end each person makes the best handthey can with their two cards and three of the middle cards. The person withthe highest hand wins.

According to Sklansky, at theMirage in Las Vegas, on the firstround of betting, the first player to the left of the dealer must bet $5, the second must bet $10. After that the third player may either fold, call or raise the bet to $20. Raises before theflop are in increments of $10 with a maximum of four raises. After the flopchecking is allowed. On fourth and fifth street, raises are multiples of $20.

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Probability is a huge factor in TexasHold 'em. Players use odds to determine theiractions. The chances of finishing a flush or a straight, the probability ofgetting an overcard, the percentage of times you'regoing to flop a set to match your pocket pair are allimportant factors in poker. Knowledge of these statistics is keyto winning. In online games especially, statistical knowledge becomes the mainfactor when choosing whether to bet, call, or fold.
Here are some terms that you'll hear on this site and whenever you're talkingabout poker odds...

In Texas Hold 'Em, you commonly use outs and pot oddsthe most. This is also the starting point for those who want to learn aboutpoker odds. To those out there who 'ain't goodat countin' much', you better get good becausethat is how it's done. At this point it's only simple division. The numeratorwill be the number of outs you have. The denominator is the number of cardsleft that we haven't seen. The result will be the percentage chance of makingone of those outs. Therefore, the most math you'll be doing will be dividingsmall numbers by 50 (pre-flop), 47 (after the flop), or 46 (after the turn).

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Pot odds are as easy as computing outs. You compare yourouts or your chance of winning to the size of the pot. If your chance of winningis significantly better than the ratio of the pot size to a bet, then you havegood pot odds. If it's lower, then you have bad pot odds. For example, say youare in a $5/$10 hold’em game with Jack-Ten facing oneopponent on the turn. You have an outside straight draw with a board of2-5-9-Q, and only the river card left to make it. Any 8 or any King will finishthis straight for you, so you have 8 outs (four 8's and 4 K'sleft in the deck) and 46 unseen cards left. 8/46 is almost the same as a 1 in 6chance of making it. Your sole opponent bets $10. You if you take a $10 bet youcould win $200. $200/$10 is 20, so you stand to make 20xmore if you call. 1/6 is larger than 1/20, so pot odds say that calling wouldbe a good idea.

Say it's another $5/$10 holdemgame and you have a four flush on the flop. Your neighbor bets, and everyoneelse folds. The pot is $50 at this point. First you figure out your chance ofhitting your flush on the turn, and it is 9/47 (about 1 in 5). You have to callthis $5 bet vs a $50 pot, so that's a 10x payout. 1/5is higher than 1/10, so bet odds are okay, but you must consider that thisguy's going to bet into you on the turn and river also. That's the $5 plus twomore $10 bets. So now your facing $25 more till theend of the hand. So you have to consider your chances of hitting that flush onthe turn or river, which makes it about 35% (better than 1 in 3 now), but youhave to invest $25 for a finishing pot of $100. $100/$25 is1 in 4.

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