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:
“There were ghosts that returned to earth to hear his phrases,
As he sat there reading, aloud, the great blue tabulae.
They were those from the wilderness of stars that had expected more.
There were those that returned to hear him read from the poem of life,
Of the pans above the stove, the pots on the table, the tulips among them.
They were those that would have wept to step barefoot into reality....”
—Wallace Stevens (1879–1955)
“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 It is the modest colour of the unpublished blood.”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)