Poker Betting, Odds and Probability
Betting, Odds and Probability: Betting Strategies
Simple techniques and strategies can be applied when betting in poker. One of the main betting strategies is to obtain the best hand possible by discarding and exchanging cards as required.
Also, by watching the number of cards that other players discard, it is possible to predict what their hands may be.
If a player exchanges two cards, it is likely that their hand either consists of a pair and another card, or three cards. Therefore, any players with higher ranking hands than this can be confident with their betting strategies. If a player exchanges three cards, it becomes fairly obvious that they are only holding a pair, and so in this situation, many poker players choose to hold onto an extra card, known as a 'kicker', to ensure a level of uncertainty and unpredictability.
If a player only exchanges one card, it is highly likely that they are holding a high ranking hand, such as two pairs, or even four 4s, and this action in itself may cause some of the other players with poor poker hands to fold.
Betting, Odds and Probability: Casino House Advantage
Unlike most other casino games, where the casino house advantage can be calculated from the payout odds, in poker the casino usually simply takes a percentage of the overall pot. In most cases this percentage is 5%, meaning that the casino house advantage for poker is 5%.
In some casinos, the commission deducted from the pot can be as much as 10%, but it is not usually anymore than this.
Betting, Odds and Probability: Payout Odds
Payout odds vary from card game to card game, and depend entirely on how much money has been staked by other players. The winning payout is simply the pot of money that has accumulated during the poker game, less the casino's commission.
When there are more players, the payout odds naturally increase, with more contributions to the overall pot.