Maximizing Value - Turning Strong Hands into Profit

Introduction

In this article

• How to get your opponent all-in
  
• Bet sizes, betting sequences, opponent types and image
• In general: Simply bet or raise

A lot of players try to find the mistake they made when they weren't
able to get a payoff. But the truth is, they are often searching a
mistake they didn't make; their opponent just didn't have a hand to
call with.

Some players then make the mistake of allowing this thinking mistake to
influence their game. They try to lure their opponents with tricks
thinking it is the best way they can extract maximal value. But this is
rarely the case.

This article will address this issue and try to deliver an answer to
the question: How can I extract max. value from my opponents? We will
look at two different concepts relevant to maximizing value in detail.

Basics: Pot building and slowplay

Pot building is a means of controlling the pot. Usually we are talking
about keeping the pot small when it comes to pot control, but in this
case we mean the exact opposite. You want to see the pot growing as
fast as possible when you have a strong hand.

Pot building is fundamental to maximizing value: You want to play for a big pot when you have a strong hand.

Small pots are for small hands, big pots are for
big hands - this is the direction in which you should be thinking.
Always keep this in mind when you are looking for max. value.

0.50/1.00 No-Limit Hold'em (10 handed)

Pre-flop: Hero is MP3 with 3, 3
UTG calls $1.00, UTG+1 calls $1.00, UTG+2 folds, MP1 calls $1.00, MP2 folds, Hero calls $1.00, 3 folds, BB checks.

Flop: ($5.50) 9, A, 3 (4 players)
BB checks, UTG checks, UTG+1 checks, MP1 bets $3, Hero ???

You can either call MP1's bet to induce the three players behind you to
call as well, or you can raise his bet directly. And given the board
texture, that is exactly what you should do.

If you just call, the other players will be getting at least 3.8:1 pot
odds to call and wouldn't have a hard time doing so with a flush draw.
In other words, they would be playing correctly and you would be
playing incorrectly, since you gave your opponents the right odds to
draw. The logical conclusion is that you must raise to protect your
hand and so that your opponents will not have the right odds to call.
But what exactly does protection mean?

Protection is nothing other than maximizing value.

You maximize your value against draws! When you protect and make the
price for your opponent's draw too expensive (with respect to the
implied odds, as well!), your opponent cannot draw profitably against
you.

If your opponent did call (and cannot justify this call through implied
odds), his call would clearly be a mistake. Protecting allows you to
maximize your profit against draws and to profit directly from your
opponents' mistakes.

Protecting against draws is also maximizing value by means of pot building

Pot building goes hand in hand with protection. When you protect your
hand, the pot grows, which allows you to make larger value bets on the
turn and river.

The opposite of pot building is haphazardly keeping the pot small and
under control. This is usually done when you don't have a very strong
hand (for example, top pair on a drawless board on the turn).

But sometimes you purposefully keep the pot small
with a strong hand. We are talking about slowplay, which has no other
purpose than maximizing value. You play as if you had little EV hoping
to see the pot grow to an above average size on later streets with the
help of your implied winnings. In other words: you play small ball
early on and give your opponent the chance to hit and overplay a 2nd
best hand or make some other mistake.

As with so many other things, there is more than one way to reach the
goal. Pot building and slowplay are based on two very different
principles, but both serve to reach the same end: value maximization.

How can you get your opponent all-in?

We started this article by asking: How can I extract max. value from my opponents? This leads us to the obvious question: How can I get my opponent all-in?

You have to ask yourself this question and base your decision on the
answer whenever you have a hand that is good enough for you to play for
a stack. The correct way to play your hand depends on a number of
factors:

• stack sizes (of everyone involved in the hand)
• whether or not you are in position
• whether or not you have the initiative
• your absolute hand strength
• the type of opponent(s) you are facing
• your image and the table history

If your goal is to have your opponent all-in by
the end of the hand you have to ask yourself how much you will bet on
each street to keep your opponent in the hand and ultimately reach your
goal. Start by looking at the size of his (and your) stack so you know
how much you are playing for.

You also have to think about how the pot develop, which, in the context
of this article, means figuring out how much to bet/raise on each
street so that the pot on the river will be so large in relation to
your opponent's remaining stack that he can hardly afford to fold.

0.50/1.00 No-Limit Hold'em (6 handed)

Hero: $100
MP2: $100

Pre-flop: Hero is BU with 5, 5
MP2 raises to $3.00, 2 folds, Hero calls $3.00, 2 folds.

Flop: ($7,50) 5, 9, K (2 players)
MP2 bets $5.00, Hero ???

This board is pretty inviting to slowplay. The board is dry and a raise
might scare off the opposition. A simple call allows your opponent to
improve on the turn (but still be behind against your set). But what do
you really stand to gain by slowplaying? And even if your opponent does
improve on the turn, which won't happen all too often, what's next?

There will be $17.50 in the pot and your opponent
will have $92 left. How are you going to get him all-in by the river?
He will often check/fold on the turn; sometimes he will bet/fold.
Either way, your turn raise will rarely be a bluff on this board, and
just about everyone knows it.

You will usually end up betting after he checks. Assuming you bet $12,
which would be appropriate on this board, there will be $41.50 in the
pot on the river if you get a call and your opponent will have $80 left
in his stack. You would have to overbet 2 times the pot to get your
opponent all-in. It's safe to assume he won't call this bet very often.

If you had bet $17 on the turn, there would be $51.50 in the pot and
your opponent would still have $75 on the river. You would still have
to overbet to get him all-in. Even betting the pot on the turn, which
would be too much, wouldn't bring you much closer to your goal.
Slowplaying the flop is clearly not the best way to maximize your
value.

You should raise to build up the pot. True, he will fold a lot of
hands, but you should have no trouble getting him all-in by the river
if he has a strong king or AA and wants to take it to the showdown.

Assume you make a standard raise to $15. There
will be $37.50 in the pot on the turn and your opponent will have $82
left. Your turn bet should then be $25. If your opponent calls again,
there will be $87.50 in the pot on the river and he will only have $57
remaining. A 2/3 pot bet is enough to put him all-in. And that is how
you reach your goal.

0.50/1.00 No-Limit Hold'em (6 handed)

Hero: $100
SB: $30

Pre-flop: Hero is BU with 5, 5
3 folds, Hero raises to $3.00, SB calls $2.50, BB folds.

Flop: ($7.00) 5, K, 9 (2 players)
SB bets $5.00, Hero ???

A similar situation, but this time your opponent's
stack is a bit smaller. If you call the flop, there will be $17 in the
pot on the turn and he will have $22 remaining. You can then bet $8. If
he calls again there will be $33 in the pot and he will have just $14
left in his stack. You will have no trouble getting him all-in by this
point. Slowplaying instead of raising is the better way to reach your
goal in this situation.

You can see how these factors (stack sizes, bet sizes, pot development)
influence your play. Another important factor is your betting sequence.

There are a lot of different betting sequences you can choose from. At
this point we will comment on some of their individual advantages and
disadvantages. The important thing is correctly estimating your hand
strength in relation to the board.

Giving away a free card on a dangerous board can
have very negative consequences. Your decision must be based on the
situation at hand. The following is just a summary of the basic
advantages and disadvantages of various betting sequences. As you can
see, you have the greatest number of options when you are out of
position and do not have the initiative.

When you are out of position and do not have the
initiative you need to weigh and balance several different factors
against each other. One of these factors is the frequency with which
your opponent contibets when you check to him. This is something he
will do fairly often when you do not show any strength, which means you
get value from more weaker hands.

In these situations you don't have nearly as many options. In general,
you should try to keep the initiative. You should make a normal
contibet when you were the PFA and hit a strong hand on the flop.
"Normal" being the key word - trying to set up a check/raise would not
be normal and would just draw attention and get your opponents thinking
even more about your play.

What other hands would you check/raise with in such a situation? A good
opponent will know something is up and a poor opponent will usually
just play passively and check behind, effectively taking the free card
you are offering. The pot stays small and your opponent gets the chance
to catch up for free. You will still think your hand is good and will
often end up paying off your opponent.

You can vary your play up on the turn. Trying to
set up a check/raise against an aggressive opponent is certainly an
option. Of course, you should only do so when the board is not draw
heavy. You don't want to give away a free card and will often get
called by a lot of weaker hands if you bet again on such a draw heavy
board.

Furthermore, giving up the initiative is only an option when you are
heads up. You should always keep the initiative and bet again on the
turn when two or more opponents are in the hand and you have a strong
hand, since it is too likely that everyone will just check behind.

Playing in position without initiative is relatively easy. Just remember the following rules:

• If your opponent checks, bet.
• If your opponent bets, raise.

Only call an opponent's bet when ...

• ... the pot is very large in relation to the remaining stacks.
• ... you can induce players behind you to stay in the pot and overcall.

You should only try to keep players behind you in the hand when the
board is not draw heavy; you don't want to give anyone correct odds to
call.

0.50/1.00 No-Limit Hold'em (6 handed)

Pre-flop: Hero is BU with 7, 8
MP2 raises to $3.00, 2 folds, Hero calls $3.00, SB calls $2.50, BB calls $2.00.

Flop: ($12.00) 7, 8, 8 (4 players)
SB checks, BB checks, MP2 bets $10.00, Hero ???

This is a perfect hand for slowplay. The board is very draw heavy, but
you have all the draws beat. Playing your hand passively also allows
you to represent a drawing hand.

Your opponents have max 3 outs against you, if any at all. There is no
need to protect. Calling also gives the players behind you good odds,
raising would only scare off your opponents. Anyone with an 8 or 77 is
going to be all in on the river no matter what, so you don't have to
build up the pot. But the main reason why this is such a good spot to
slowplay: there's hardly a single card that could bother you on the
turn.

Slowplaying in a multi-way pot is almost always
wrong when this is not the case; your opponents will improve on later
streets too often and you will have to give up the pot.

You don't have too many options when you are in
position and have the initiative, either. If your opponent(s) check,
you should bet to build up the pot. Never check behind with a strong
hand to induce bluffs. Checking keeps the pot small, and that's the
opposite of what you want to do when you have a strong hand.

If your opponent bets into you, you should usually raise. If the pot is
already very large in relation to the remaining stacks and you are sure
you can get your opponent all-in by the river without raising the flop,
you can consider slowplaying your hand.

If your opponent check/raises you should usually consider making an
exception and just call. You can then raise if he bets again, depending
on how draw heavy the board is. Interpreting the board structure is
very important in such a situation. A 3-bet on a dry flop will usually
drive your opponent out of the hand.

If you call, you will usually get at least another bet out of your
opponent on the turn. You basically give him another chance to think
his weaker hand is good and put more money in the pot. He may, by that
point, decide his odds are good enough to call your raise/push.

Maximizing value isn't about shoving your stack in the middle right off
the bat; it's about trying to give your opponent the chance to stay in
the hand and go broke with the widest hand range (which, for the most
part, is behind against your hand) possible.

0.50/1.00 No-Limit Hold'em (6 handed)

Pre-flop: Hero is MP2 with A, Q
Hero raises to $3.00, 3 folds, SB calls $2.50, BB calls $2.00.

Flop: ($9.00) A, Q, 9 (3 players)
SB checks, BB checks, Hero bets $7.00, SB raises to $24.00, BB folds, Hero calls $17.00.

In this situation, calling is better than pushing directly. Your
opponent could fold hands like AJ or KQ (possibly even Q9, unlikely as
it may be). There is also no need to protect with a raise. You would
only be making a mistake by not raising if your opponent had JT, which
he won't have most of the time when you find yourself in this
situation.

A lot of weaker hands will fold if you push. You can, however, keep
these hands in the pot by just calling and betting/raising the turn.
The SB took care of the pot building with his check/raise on the flop;
you should have no trouble getting your opponent all-in by the river.

So far we have looked at maximizing value from the
standpoint: Your goal is to get your opponent all-in by the river.
Obviously this is a goal you can only pursue when you have a strong
hand. At this point we must ask the question: How does your absolute
hand strength influence your play, if at all? And this leads us to
another concept, which states:

This may seem contradictory at first glance, since you can always
afford to check with the absolute nuts, since you don't have to worry
about any card. But there is one specific situation you want to avoid:
slowplaying against the 2nd or 3rd nuts. Here's a simple example of
what is meant:

0.50/1.00 No-Limit Hold'em (6 handed)

Pre-flop: Hero is BB with QQ

2 folds, CO raises to $3.00, BU calls, SB folds, Hero calls.

Flop: ($9.00) AQQ
Hero checks, CO checks, BU checks.

Turn: ($9.00) K
Hero checks, CO checks, BU checks.

River: ($9.00) A
Hero checks, CO checks, BU checks.

CO holds AK
BU holds KT

In this exactly you see how you were able to
extract the least amount of value possible. You tried to set up a
check/raise every step of the way, but no one decided to bet. The CO's
attempt to slowplay and induce a river bet out of the BU, and then to
possibly trap you, also failed. The BU just never felt like he had a
hand and saw no reason to bet.

If anyone had placed a bet on any street, you would have probably been able to get the CO all-in by the river.

You should try to avoid slowplaying the absolute
nuts, as you risk missing out on a lot of value against 3rd/4th nut
hands, which is exactly what happens when they decide to slowplay, as
well.

Of course, this is an extreme example and you will rarely find yourself
in such a situation, but it does give you an idea of what is meant.

Your decision is also influenced by the type of opponent(s) you are facing, as the following examples illustrate:

0.50/1.00 No-Limit Hold'em (6 handed)

Pre-flop: Hero is BB with 4, 4
MP2 folds, MP3 raises to $3.00, 3 folds, Hero calls $2.00.

Flop: ($6,50) 4, 9, 8
Hero ???

In the first example your opponent is a fish
(50/5/1/35). Check/raising the flop is your best option. This builds up
the pot and lets you enjoy all the advantages this line has to offer.
You don't have to worry about scaring your opponent off, either, since
he has a very high WTSD.

0.50/1.00 No-Limit Hold'em (6 handed)

Pre-flop: Hero is BU with A, T
MP2 calls $1.00, 2 folds, Hero raises to $5.00, 2 folds, MP2 calls $4.00.

Flop: ($11.50) K, Q, J (2 players)
MP2 bets $8.00, Hero ???

The same opponent but different cards. You should check/raise the flop
in this situation, as well, in order to build up the pot. There is
hardly ever anything to be gained by slowplaying a straight. Any A/K/T
that pairs the board will also keep you from getting much action from
an opponent with a weaker hand.

You won't necessarily be behind, but the board
will look all the more dangerous to your opponent if one of these cards
does show up. You can also expect your opponent to call a raise with a
lot of weaker hands and can try to get his money in the middle from the
get go.

Of course, everything changes when you are facing
a different type of opponent. In our next example you are facing a very
aggressive (but also very good and attentive) opponent (33/22/3/20).

0.50/1.00 No-Limit Hold'em (6 handed)

Pre-flop: Hero is BB with 4, 4
MP2 folds, MP3 raises to $3.00, 3 folds, Hero calls $2.00.

Flop: ($6.50) 4, 9, 8
Hero ???

You have several options in this situation. You can, for example, donk
on the flop and hope your opponent raises. He will do this fairly
often, since he usually won't suspect you've hit this board.

You could also check/raise the flop. Or check/call flop, donk turn, or
even check/call flop, check/raise turn. All of these lines are viable
and can be equally profitable as long as you remember: You must balance your lines when facing attentive opponents.

This means when you are at the table: You have to bluff check/raise or
float on similar flops from time to time if you want to use such a line
with your strong hands, as well. A float in this situation would be:
Call flop, donk turn. Attentive opponents will make a note if they
never you see you check/raise such a board with less than two pair and
you will, logically, get less value for your strong hands in the
future. The same counts, of course, for any other line.

All this only matters when your opponents are paying attention to the
game. When you are facing weak opponents (fish or weak TAGs) you can
play straightforward poker without worrying about a thing. In other
words: you should usually bet/raise the flop.

Another very important factor is your image, or
how the other players see you. And the root of your image is the table
history. These are two very important aspects that are often neglected.

0.50/1.00 No-Limit Hold'em (6 handed)

Pre-flop: Hero is CO with K, K
2 folds, Hero raises to $3.00, BU folds, SB raises to $12.50, BB folds, Hero ???

In this hand you are facing an attentive TAG. It's hard to say if
calling or 4-betting would be more profitable (i.e. bring more value).
This is where your image and the table history come into play.

You look at your stats for the table and see
27/20; you've been playing much more loosely than normal. You also
remember a similar situation in which this opponent folded to your
4-bet with AK - two important pieces of information.

In light of this information, you should 4-bet. Your opponent is likely
to think you are trying to win the pot pre-flop and will react by
pushing with a wider range or simply call. He could, theoretically,
even go all-in with hands like AK, AQ, TT+. These are hands he probably
won't go broke with, assuming he doesn't improve, if you only call his pre-flop
re-raise and then raise the flop.

You have a loose image and should take advantage of it. In some
situations, as you will see in the coming examples, you have to
slowdown and can only 4-bet very strong hands, as your opponents will
not give you any credit for a monster.

If you have a very tight image, you should not 4-bet with the 2nd best
starting hand in this situation, but rather call and wait for the flop
to raise.

Examples

This section will use example hands to explain when it is better to
build up the pot and when it is better to slowplay your hand.

0.50/1.00 No-Limit Hold'em (6 handed)

Hero: $120
MP3: $80
MP2: $180

Pre-flop: Hero is BU with J, T
MP2 raises to $3.00, MP3 calls $300, CO folds, Hero calls $3.00, 2 folds.

Flop: ($10,50) 7, 4, Q (3 players)
MP2 bets $8.00, MP3 calls $8.00, Hero ???

You flop the 3rd nut flush. The question is,
should you raise or simply call? If you call, there will be $34 in the
pot on the turn. The pot would be fairly large in relation to the
remaining stacks and you should be able to get your opponent(s) all-in
by the river fairly easily.

Still, you should raise. There are several weaker hands that will call, among them Ax and Kx,
as well as any set or two pair. Slowplaying would not allow you to
extract value from the hands that would call. You should therefore
raise the flop to app. $30.

0.50/1.00 No-Limit Hold'em (6 handed)

Hero: $100
MP3: $100

Pre-flop: Hero is BU with K, K
MP2 raises to $3.00, 2 folds, Hero raises to $10.00, 2 folds, MP2 calls $7.00.

Flop: ($21.50) A, K, 7 (2 players)
MP2 checks, Hero bets $15.00, MP2 raises to $30.00, Hero ???

You flop 2nd nuts in a re-raised pot - perfect - and your opponent
check/raises. This time you should just call. A flush draw is possible,
but he is much more likely to have an ace, which he might fold if you
push. Going all-in would only force all the weaker hands out of the
hand that would have stay in the hand if you simply call and wait for
the turn to bet/raise. There will be $100 in the pot after you call;
you shouldn't have any trouble getting your opponent all-in by the
showdown.

0.50/1.00 No-Limit Hold'em (6 handed)

Hero: $100
BU: $100

Pre-flop: Hero is MP2 with 9, 9
Hero raises to $3.00, 2 folds, BU calls $3.00, 2 folds.

Flop: ($7.50) 9, 4, 5 (2 players)
Hero bets $5.00, BU calls $5.00.

Turn: ($17.50) K
Hero ???

Let's look at two scenarios:

• Your opponent is a
  LAG (30/22/3/20) and you've played a number of hands with him. You've
  given up your hand to him almost every time you've checked to him on
  the turn so far. This is no time to stop checking to him! You risk
  giving away a free card, but only because you know the LAG will usually
  see a scare card as an opportunity to bet, which allows you to raise.
  Don't start 2nd barreling scare cards with 2nd nuts.

• Your opponent is an
  attentive TAG (22/16/3/21). You've bet the turn fairly often in
  previous hands, since he likes to call the flop and float. Play your
  image and don't stop betting. Your opponent won't believe you and will
  not be impressed by what seems like a 2nd barrel, which is exactly what
  you want in this situation.

0.50/1.00 No-Limit Hold'em (6 handed)

Hero: $100
MP2: $120

Pre-flop: Hero is SB with 8, 8
MP2 raises to $3.00, MP3 calls $3.00, 2 folds, Hero calls $2.50, BB folds.

Flop: ($10.00) K, 8, 6 (3 players)
Hero ???

You have a strong hand in a multi-way pot. The board isn't offering any
dangerous draws (other than an OESD with 97). As we said before, you
should almost always start action on the flop in multi-way pots. You're
more likely to end up behind by the river with several opponents in the
hand than when you are heads up.

MP2 was the PFA. You will usually contibet this board; not doing so
would be weak, but not a major mistake on this board. If he does check,
MP3 still has a chance to bet. You should check to give MP2 the chance
to contibet and MP3 the chance to make an in position call, which he
can do with a wide range of hands. Which is exactly what will happen
fairly often. You will then be able to raise when the action comes back
to you and trap MP3 in a big pot.

Conclusion

Hopefully this article will have shown you that it
is usually better to build up the pot directly than to keep it small
with slowplay, though there are exceptions.

Your top priority should be getting your opponent all-in. When facing
weak opponents all you have to do is bet, bet, bet. If he folds, it
isn't because you made a mistake by betting. When facing attentive
opponents you have to vary your play from time to time (balancing!).

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