One of the first things you learn as a student of No-Limit Hold'em is to avoid playing out of position whenever possible. Acting first every turn is a disadvantage.
Playing out of position is indeed a big disadvantage against strong players. However, when your opponent is weak and doesn't play in a way that punishes you for it, typical at $1/$2 and $2/$5 limits, playing out of position isn't such a big problem. Here's why:
The 3-barrel bluff is a basic strategy for players in position. The threat that the player on the button can bluff you on every street post-flop, often putting you all-in by the river, is the biggest threat your opponent can pose to you.
This strategy is basic, because without it there is no reason to respect a player's aggression on the button.
Here's what I mean. Let's say you're playing a $2/$5 game with a stack of $500. Your opponent opens with a raise to $20 from MP, and you, in the big blind with KcQc, call.
The flop comes :Kh :9h :4s . You check and your opponent bets $40. You call.
The turn comes :4d . You check and your opponent bets $120 into the pot. You call.
The river comes :3h. You check and your opponent bets all-in with $320 into a pot of $362.
Without the threat of a 3-barrel bluff, there is no reason to call in this situation. If you, for some reason, know that your opponent would not bluff three times in this way, then you know that your final bet cannot be a bluff. And if it is not a bluff, it will be a hand that beats KQ more often than two times out of three.
This is strategically very important. From now on you will essentially never have to lose your entire stack on a hand like this again. You can just call two bets (folding on the third one) instead of calling all three, and thus you can only lose $160 after the flop, not $480.
I made the math simpler for the sake of pedagogy. However, if you know that your opponent will not 3-barrel bluff you, this makes all the hands you play out of position much more profitable than they would be against a player who 3-barrels more often.
And guess what? Many players in $1/$2 and $2/$5 games will never 3-barrel bluff. Some will do it frequently, such as when they flop a very strong draw but miss the turn and river. But even then, very few players at these lower limits will do it as often as they should, to take advantage of their position.
So how do you take advantage of opponents who fail to execute this fundamental play?
First, you can fold to big bets on the river. Second, and less obvious, you can check more from out of position and “get away” with losing a lot of chips.
It's the second setting that helps you gather information.
Many of my students say they have trouble playing middle and high pairs like TT or 99 from out of position. In small stakes games, you can check to navigate the fishy waters. Here's an example.
The game is $2/$5, with a stack of $500. You open $20 with ThTs of MP. Two players and the big blind call.
The flop comes :Kh :9h :4s . You check, the opponent bets $40, you call.
The turn comes Ad. The pot is $202 and you are $420 behind. You could be ahead with hands like 6x5x, Kx8x or QhJh. Or, you could be behind with hands like 8x6x, Ax7x or AhJh.
If you are ahead, your opponent certainly has a good chance of running out of draws. On the other hand, if you are behind with TT, you often only have two outs.
Furthermore, if you bet any amount at this point, you could end up committing yourself to the pot.
So, check. A strong opponent will usually bet the turn and if you call, they will shove the river. This river shove can sometimes be for value and sometimes it can be as a bluff. It is a tough decision to make.
However, chances are that your opponents at limits like this won't bluff as much on the river. So you can check and, if your opponent bets, call. So you can check the river and count on your opponent checking back if you have the best hand.
Assuming that your opponent is unlikely to bluff you twice makes the whole situation much less dangerous. The most you will lose to a better hand is that one bet. And you probably won't fold if you have the best hand.
It’s great to know that you’ll only lose one bet instead of two if you’re behind. However, you can always improve this outcome by starting to notice bet sizing tells.
Getting back to the hand, the pot is $202 and you are behind $420. The board reads :8h :6h :4c :Ad . Let's say your opponent holds 8x6x, with two pair. The board has a flush draw and a straight draw, plus an ace. If you check, the typical $2/$5 player will be worried about being behind in a big pot. This fear will cause him to bet big, certainly $100 or more, maybe even $150.
Now let's say your opponent holds 6x5x. You check to him and he decides to try and steal the pot. This player isn't worried about being behind, but he is worried about missing his draw and losing the bet. This player tends to bet a little smaller than the other player. I would be surprised if I saw a bet as big as $150 from this player, I would often expect bets of $100 or less.
Now, if you check the turn and your opponent bets $80, that doesn't mean you're guaranteed a win. Your opponent may have hands like 7x5x and be trying to hold you back.
However, if this is what is happening, you will soon realize it. After you call the $80 and check the river, your opponent will bet big. Since he will not shove all-in with 6x5x (that would be a big bluff, which we do not expect this player to make often), you can just fold to a bet on the river.
So the final strategy looks something like this: you check the ace on the turn, if your opponent bets big, assume you are behind and fold. If your opponent bets small, call and check the river. If your opponent bets big on the river, assume you are behind and fold.
If your opponent checks the turn, you can usually expect that he doesn't have anything better than an ace (perhaps with a draw). So if he also checks the river, you can consider making a big bluff, such as an overbet, to steal from weak aces.
Final Thoughts – Gathering Information: Out of Position
Playing out of position is never fun, but it’s part of the game. When your opponents fail to take advantage of their positional advantage over you, you can check to gain information before committing your stack. This doesn’t mean you should never call a big bet again. However, if you’re consistently acting with more information than your opponents, you’ll see that advantage in your results.
Article translated and adapted from the original: Poker Strategy With Ed Miller: Gathering Information From Out Of Position
Good evening PD team, in the part: “The game is $2/$5, with a stack of $500. You open $20 with ThTs of MP. Two players and the big blind call.
The turn comes Ad. The pot is $202 and you are $420 behind. You could be ahead with hands like 6x5x, Kx8x or QhJh. Or, you could be behind with hands like 8x6x, Ax7x or AhJh.”….
Isn't the flop missing? Or is it just like that?
Good morning, @RAPHAEL!
The flop was missing, we ended up deleting it by accident when posting. It's fixed!
Thanks for noticing and letting us know. Cheers.