Thoughts on the Fundamental theorem of Poker

Then, I read a recent article that showed me that The Liability Conundrum can be explained using only 3 terms and is not anulated away. Naturally, I said: “Of what possible interest is this?”

The article talked about the Super Bowl. Las Vegas NFL Nevada Casino and Sportsbook supervisor hugging the Super Bowl ring after the game to insure his business went on. He was dealing with a lot of unruly customers. Hissuperiors were looking at him strange. His superessee was unfamiliar with this trend, which was unusual because it was usually dealing with happy customers.

Then a customer came in and told Steve Edwards that The customer wanted to give Steve a free copy of a book on NFL sidelines. Edwards had referred the man to the book, which was on the Super Bowl, but when the man asked Edwards what he thought of the book, Edwards had nothing but praise for the book.

Fundamental theorem of Poker

When the man left, Edwards emptied his wallet and had the customer leave a dollar bill on the counter.

Fundamental theorem of Poker

Then he fondly recalled that he was the only one that got the man a free copy of the book, and then he added, “I would’ve give him five bucks, but I saved five dollars.” Pretty cool!

The whole scenario was just a little comedy of errors and misunderstandings, but it illustrates a point that a lot of people forget. When you deal with logical people, you can’t expect to win all of the time. Sometimes, all you can expect is to lose more often than win.

Fundamental theorem of Poker

The Liability Conundrum

What is the Liability Conundrum?

The concept is when you’re counting cards during a hand, and make a hand that needs a card to be turned over. That card turn will either give you the win, or give your opponents the win. But you aren’t positive which hand you will get because you aren’t positive you have the card you need.

As a result, the probability that you will win is just a guessed at best. Therefore, you will always either be the sucker to take the smaller amount, or the lion, stealing the big pot.

ifications for dealing with the liability.

  • 1. Your Hand+1 = Your Hand.
  • 2. The Board+1 = The Board.
  • 3. The River+1 = The River.

Removing the Liability

  • 1. Each card is assigned a monetary value.

This is an entirely reasonable approach for dealing with the liability. When it happens that you need an Ace to complete a strong hand, you don’t count that as part of the hand value of the cards that you have. The same logic can be applied to low cards.

What this means is that you will have to pay more than you normally would to play your cards in a game.

For example, suppose you have been counting cards and you have six cards. You put a bet in the bank and have five more left over. You put another bet into the bank. You have lost the six bets you put in the bank. You have now got to pay eight to nine times more to play your cards in the game.

That just removes the advantage that players have over the casino. Not to mention, the money the casino would have to pay to compensate for all of the cards it would have to pay out.

  • 2. You Have to Pay More to Play the Opponents Cards

As well, suppose your opponent had bet 100 dollars on the first hand. You know he will come out betting again, and when he does, you can call, and you’ll get a hundred dollars for each of your calls.

There are a lot of hands that opposite each other, and you can bet your opponent will bust. If you think this will happen, it is possible you can lay the hand down and not lose any money.

Of course, if you can’t see your opponent to be bluffing, it’s just pure luck to call when you know you will lose.

  • 3. There is No Such Thing As Luck!

Among the simplest of poker gamblers, it cannot be denied that there is no such thing as luck! Though many claim to be able to read the cards of their opponents, no one knows for sure what the next card is going to be unless you can see your opponent’s cards.

There is no way to know what is going to happen because you have never tried to determine what the next card will be. All you can do is make an educated guess, and hope for the best.