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:
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—Rheta Childe Dorr (1866–1948)
“The vanity of men, a constant insult to women, is also the ground for the implicit feminine claim of superior sensitivity and morality.”
—Patricia Meyer Spacks (b. 1929)