| Here are three examples of increasing complexity for | | | | range as well. |
| value betting in no-limit hold'em poker. Value betting in | | | | Example 3: We open raise to 4bb in late position with |
| no-limit hold'em is a main key to beating all stakes from | | | | KTo and are called by a loose-passive small blind with |
| Internet penny-stakes games to live $1000/2000 | | | | 100bb effective stacks. The flop comes 732 rainbow |
| games. | | | | with a 9bb pot. The small blind checks, we make a 6bb |
| Example 1: It folds to us in the small blind with a 10bb | | | | continuation bet as a semi-bluff with our overcards, |
| starting stack, so we have 9.5bb left after posting the | | | | and the small blind quickly calls. The turn is an King that |
| blind. We hold AJo and consider shoving for value. We | | | | keeps the board rainbow. The small blind checks, and |
| estimate our opponent's calling range to be any pocket | | | | we consider whether we should value bet. If we bet, |
| pair, any Ace, and KQ. Since we have about 55% | | | | our opponent's raising range will rarely contain any |
| equity against this range, we can easily shove for | | | | hands that we beat, so we won't be anywhere close |
| value. | | | | to making a mistake by folding in that scenario. Our |
| Example 2: The HJ seat open raises to 4bb with | | | | opponent probably would have re-raised with AA and |
| 100bb effective stacks. It folds to us in the big blind, and | | | | AK pre-flop, so those hands are unlikely. Additionally, |
| we re-raise to 14bb with KK. From previous play, we | | | | our opponent wouldn't often check/call the flop with |
| expect our opponent to call with approximately | | | | KQ or KJ, making those hands unlikely as well. Since |
| {22-TT, AQ}, and to 4-bet with the intention of stacking | | | | our opponent's flop check/calling range consists mostly |
| off with {JJ+, AK}. We have about 63% equity against | | | | of pocket pairs lower than a King (including a few |
| our opponent's stacking-off range, we we can clearly | | | | sets), we can expect to have a sufficient edge against |
| stack off for value. Against his calling range, he will not | | | | this range to make a value bet profitable. If for |
| be getting sufficient implied odds to call pre-flop, so we | | | | example our opponent continues with {22-33, 77-TT}, |
| can deduce that our re-raise is +EV against his calling | | | | we have about 60% equity against that range. |