Multi-way Pots and Implicit Collusion
The Fundamental Theorem of Poker applies to all heads-up decisions, but it does not apply to all multi-way decisions. This is because each opponent of a player can make an incorrect decision, but the "collective decision" of all the opponents works against the player.
This type of situation occurs mostly in games with multi-way pots, when a player has a strong hand, but several opponents are chasing with draws or other weaker hands. Also, a good example is a player with a deep stack making a play that favors a short stacked opponent because he can extract more expected value from the other deep stacked opponents. Such a situation is sometimes referred to as implicit collusion.
The Fundamental Theorem of Poker is simply expressed and appears axiomatic, yet its proper application to the countless varieties of circumstances that a poker player may face requires a great deal of knowledge, skill, and experience.
Read more about this topic: Fundamental Theorem Of Poker
Famous quotes containing the words pots and/or implicit:
“Feminism, like Boston, is a state of mind. It is the state of mind of women who realize that their whole position in the social order is antiquated, as a woman cooking over an open fire with heavy iron pots would know that her entire housekeeping was out of date.”
—Rheta Childe Dorr (1866–1948)
“A piece of advice always contains an implicit threat, just as a threat always contains an implicit piece of advice.”
—José Bergamín (1895–1983)