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:
“Fewer and fewer Americans possess objects that have a patina, old furniture, grandparents’ pots and pans—the used things, warm with generations of human touch, ... essential to a human landscape. Instead, we have our paper phantoms, transistorized landscapes. A featherweight portable museum.”
—Susan Sontag (b. 1933)
“The true colour of life is the colour of the body, the colour of the covered red, the implicit and not explicit red of the living heart and the pulses. It is the modest colour of the unpublished blood.”
—Alice Meynell (1847–1922)