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New Expert Strategy Article
, 2005-09-02, by TwoGun
Most of the time at the poker table, players should value each $1 equally. This means people should be just as happy when they win $25 as they are upset when they lose $25.
In the First Expected Utility article, we went over times that people might be risk-averse at the poker table. This means that they would be more unhappy when they lose $25 at the table than they are happy when they win $25. For example, people are generally not willing to make a 51-49 bet for their entire bankroll. While the odds are slightly in their favor, the utility they get from doubling their money is not nearly as much as the utility they stand to lose from losing it all.
In our newest article, Expected Utility II, we go over instances where expert players might even be risk-loving. This means they will make plays where the odds are slightly against them in order to build up their stack. They do this because of the perceived gains from having more chips in front of them will outweigh the slight -EV they lost.
This article is highly theoretical, and it is not intended for the casual poker player. Most of the theories discussed in the article only apply to certain types of professional-level players under certain circumstances.
In the First Expected Utility article, we went over times that people might be risk-averse at the poker table. This means that they would be more unhappy when they lose $25 at the table than they are happy when they win $25. For example, people are generally not willing to make a 51-49 bet for their entire bankroll. While the odds are slightly in their favor, the utility they get from doubling their money is not nearly as much as the utility they stand to lose from losing it all.
In our newest article, Expected Utility II, we go over instances where expert players might even be risk-loving. This means they will make plays where the odds are slightly against them in order to build up their stack. They do this because of the perceived gains from having more chips in front of them will outweigh the slight -EV they lost.
This article is highly theoretical, and it is not intended for the casual poker player. Most of the theories discussed in the article only apply to certain types of professional-level players under certain circumstances.
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