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 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)