Example 5:
Your cards
J :club:J
Your position
Early position
Situation
You play NL10 and your stack is $1.90. One player in front of you called the big blind. You raise to $0.50 according to the SHC. One player behind you raises to $1.00. After that another player moves all-in with $5.50. The player in front of you folds his hand and you have to decide what to do.This is not the best situation because with a pair of jacks you often face better hands or you have only a small advantage over your opponents. Nevertheless it is profitable in the long-run if you go all-in.
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How is this profitable in the long run? I find most players who push against two players who have pushed usually have QQ or better. A few don't, but most do. I assume as I move up the limits, the less likely I'll have a hand where JJ isn't completely dominated.
Against QQ/KK/AA, I have a slightly under 1/5 chance of winning.
Against a smaller pocket pair, he/she has a slightly under 1/5 chance of winning.
But assuming I'm against QQ/KK/AA more often than I'm against a lower pocket, in the long run this looks unprofitable.
Against AK it's basically a coin flip. I have the slight odds advantage, but not where close to the advantage of QQ/KK/AA against JJ.
In my opinion there are times where 'pot odds' just isn't right. You'll come across players who bluff far less often then not. If I'm not mistaken, pot equity is only accurate if everyone calls down to the river despite their actual holdings. It does not compensate for 'intelligent opponents.'