Advanced Strategies for Craps and Poker

1. Advanced Strategies for Craps and Poker Billy J. Duke Joel A. Johnson

2. Hand Rankings

3. Which Game Do I Play? • Texas Hold ‘Emwill be the focus of today’s presentation. It is the most prevalent game at the current time. • Some other games are available, such as Omaha High-Low or Seven Card Stud at certain locations.

4. Basic Game Play • The 2 spots to the dealer’s left are the small blind and the big blind. • Two cards are dealt face down to each player, these are your hole cards. • A round of betting ensues, starting with the player to the left of the big blind.

5. Basic Game Play (cont.) • After burning a card, the dealer flips three “community cards” face up, this is the flop. • Another round of betting ensues. • After burning another card, the dealer flips a card face up, this is the turn, or 4th street. • Another round of betting ensues.

6. Basic Game Play (cont.) • The dealer flips over a 5th card, the river or 5th street. • A final round of betting occurs. • Each player makes their best five card hand using their two hole cards and the five community cards. • The player with the best five card hand is the winner.

7. Limit or No Limit? • This is your most important decision! • Limit poker sets maximum betting amounts for each round. • No limit poker has no maximum betting amount. You can go “all-in” at any time.

8. Limit Hold ‘Em • In a 2-4 Limit game the small blind is $1 and the big blind is $2. Minimum buy-in is usually $20, no maximum. • In a 4-8 Limit game the small blind is $2 and the big blind is $4. Minimum buy-in is usually $40, no maximum. • Many 4-8 games are played with “half-kill”. If a player wins two hands in a row the game changes to 6-12 until a different player wins a hand.

9. No Limit Hold ‘Em • In a 1-2 No Limit game the small blind is $1 and the big blind is $2. Minimum buy in is usually $100 with a $200 maximum. • In a 2-5 No Limit game the small blind is $2 and the big blind is $5. Minimum buy in is usually $200 with a $500 or $1000 maximum.

10. Getting Started • Go to the poker room counter and tell them you want to play. • If a spot is open they will direct you to the table and assist you with getting chips. • If an open spot is not available you will be put on a waiting list and your name will be announced when a spot is available.

11. Actions • You are dealt 2 cards face down. • When it is your turn, your options are: • Check • Call • Fold • Bet • Raise

12. Check, Call, or Fold • Check – You are not betting any money, you are just passing on your chance to bet. • Checking in Limit games allows you to slow down aggressive opponents. • Call – You must bet the amount that has been bet by a player before you. • Fold – You are unwilling to call the bet of a player before you.

13. Bet or Raise - Limit • The amount of your bet or raise is fixed in Limit games. • In a 2-4 Limit game the bet or raise limit pre and post flop is $2. The bet or raise limit after the turn and after the river is $4. • In each betting round there is a maximum of 4 raises.

14. Bet or Raise – No Limit • In a No Limit game the amount you bet or raise is only limited by the amount of chips in front of you.

15. Notes About Raising • Proper way to raise • Announce “raise” before action. • One motion. • String bet • “I’ll see your bet and raise …” • No multiple motions.

16. Showdown • You do not have to show your hand if it is not the winning hand. • If you surrender your cards face down you are automatically out of the hand. • If you surrender your cards face up and you have the best hand, even if you are not aware of this, you will win the hand. This is known as cardspeak.

17. The Rake • The casino is going to collect some money for supplying the room, the table, and the dealer. • The “rake” is usually 10% of the pot, typically up to a limit of $4.

18. Starting Hands • Premium Starting Hands • A-A, K-K, Q-Q, A-K, J-J, 10-10, 9-9, 8-8, A-Q, 7-7 • Good Starting Hands • All Other Pocket Pairs, A-x Suited, K-Q • Probability of Being Dealt A-A? K-K? • (4/52)x(3/51) = 1/221

19. Starting Hands (cont.) • In Limit play you must mostly play good hands because it is almost impossible to bet anybody out of the hand. • In No Limit play you can make your opponent(s) lay down a hand by using your position and money.

20. Mathematics Before The Flop

21. After The Flop • Critical Point – Decide if you will continue. • Did the flop improve your hand? • Do you have a pair, or better? • Do you have a good draw to a flush or straight?

22. Example 1 • Suppose you have: • The flop: • Pretty safe flop, you have a great kicker • Be careful for sets

23. Example 2 • Suppose you have: • The flop: • Be careful for straight draws (6-7 or J-10)

24. Example 3 • Suppose you have: • The flop: • Be very careful for made straights or 2 pairs

25. Example 4 • Suppose you have: • The flop: • Be very careful for straight and flush draws

26. Mathematics After The Flop

27. Outs • Outs are cards that will improve your hand to possibly win the hand. • Open-ended straight draw, say 6-7-8-9, then any 5 or 10 would make a straight. Since there are four 5’s and four 10’s you have 8 outs. • Inside straight draw (gut shot), such as 8-9-J-Q would give you 4 outs, the four 10’s. • Flush draws have 9 outs, 13 of a suit minus the four in your hand.

28. 2-4 Rule • Before the turn multiply the number of your outs by 4 to find your chance of winning, expressed as a percent. • After the turn multiply the number of your outs by 2 to find your chance of winning, expressed as a percent.

29. 2-4 Rule (cont.) • For example, if you have 9 outs. • Probability of getting your card on the turn is (9/45) = 0.2 • Probability of getting your card on the river providing you didn’t get it on the turn is (36/45)x(9/44) = 0.163636… • 0.2 + 0.163636… = 0.3636… • Approximate 36% chance of getting your card

30. 2-4 Rule (cont.) • If you have 9 outs with only the river left: • (9/44) = 0.204545… • Approximately 20% chance of getting your card • 0.204545/9 = 0.0227272 • Actual multiplier would be 2.2727…