Tuesday, March 14, 2006

Folding Equity



I'd like to give you an example of a hand that, if played just slightly different, I wouldn't have been able to tell you about the money I won Sunday night, but rather how SBP came up empty-handed.

With six players left, the blinds were high, 50/100, and I had just over 600 chips left. I was the big blind. There was one caller, then the small blind completed her bet. I took a peak at my hole cards and saw 7-8 offsuit. Not a very strong hand, but with the blinds so high, I decided it was time to make a move.

Because the previous two players did not raise pre-flop, I figured they weren't that strong so if I moved in with all my chips, everyone would fold and I could win a decent size pot to survive a little longer. If someone would call, I wouldn't be too much of an underdog unless someone had a high pocket pair, and again, unlikely since no one raised.

The first player folded to my all-in bet, the small-blind contemplated for a few moments but decided to call with a pretty decent hand, A-9 suited in diamonds. She was about a 65-35 favourite, but I was still happy enough to see I had two live cards which is what I figured would happen if I was called. Things got a little tense when the flop paired up my eights but showed two diamonds. Luckily for me, no more diamonds appeared on the turn & river and I made a straight, doubling up and knocking the small blind out of play.

But what if the small-blind didn't simply complete her bet before I pushed all-in?

What if the small blind, who had about the same amount of chips I did, decided to go all-in first? 7-8 offsuit would have been an easy fold, the other player would have folded too, she would have won the pot and still be in contention, while I would have become the short stack at the table.

The difference here is the small blind would've had folding equity. When you push all-in first, you can win one of two ways: The other player(s) fold, you don't show your cards and you take the pot. If a player does call, you still have a chance to win as long as the community cards are nice to you.

By not pushing all-in first, that folding equity was lost. Because I had already committed all my chips with my 7-8 offsuit, the only way she could come out on top was having the best hand after all five cards in the community were drawn. Although she was still a favourite pre-flop, the luck factor ended up being on my side.

When the blinds are high and you're desperate for chips, aggression is the key. Decide if you're all-in or all-out BEFORE that decision is brought to you. Unless you have a premium hand like a high pocket pair, you shouldn't be calling an all-in after you limped, you should have already decided to move all-in with your hand and thus taking advantage of that folding equity. With other short stacks around you, they are just as desperate as you are and you cannot let them take charge of the table and push you around.

The previous example turned out to be the SBP TSN turning point. After doubling up, I started catching strong cards and was able to finish 1st. If that one hand was played out differently, hey, it would have been another SBP screwjob! :)

Comments:
ha ha ha yeah watch out for those SPB screwjobs!!
 
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