Monday 17 September 2007

REM, Commitment Thresholds and Stack-To-Pot-Ratios – Part 2

The commitment threshold is a very basic concept. However, I learnt a lot of very important basics from this chapter!

The basic principle is:

“If you aren’t committed, don’t build a big pot.”

They go on to say that if you find yourself all-in and have negative expectation, you probably made a serious mistake. I think that is very important to remember!

Therefore when deciding to make or call a bet that will commit you to the pot, the question is: “Will I be ahead of his range if we get all-in?”

The general rule of thumb can be summed up as:


“Don’t put in one-third or more of the smaller stating stack and then fold.”

Okay so I emphasized that this is only a rule of thumb. THERE ARE MANY EXCEPTIONS! I’ll list the exceptions later.


So now we get to the “Commitment Threshold.” You reach this threshold when the pot becomes one-fourth of the remaining money. An easier way to remember it is:


“Once you put in 10 percent of your stack, you’re at or beyond the commitment
threshold.”

Remember, you’re NOT committed at 10 percent! It’s just a warning that any other big bets made before the river create the threat of a subsequent bet. So basically being at the commitment threshold is the time to decide if you are willing to play a big pot. You make your commitment decision now – before one third of your stack goes in.

“You should never put a third of our chips into the pot without knowing your commitment plan. Make your commitment decision and commitment plan at 10 percent.”

Also worth mentioning here is that against knowledgeable opponents, a sizable bet at the commitment threshold can be a powerful way to bluff them. You’re asking them, “are you read to play for stacks?”

So at the commitment threshold you decide your commitment plan. “Am I committed or am I not?” Your basic strategy is then very simple:



“If you are at the commitment threshold and not committed, don’t make or call a big bet.”

“If you are at the commitment threshold and you want to get all-in, usually bet at least two-thirds the pot.”

Finally, we get to the EXCEPTIONS:

1) You might make a large bet if you bluffing/semi-bluffing.
2) You might make a large bet if your opponent has predictable playing tendencies.
3) You might call a large bet on a draw if the pot odds/implied odds justify the call.
4) You might call a large bet if it closes the action on the river.
5) You might make or call a small bet.
6) You might be committed and put in one-third of your stack, but then new information emerges that changes your decision.

These exceptions are VERY important because once you understand them you will come to realize that the book doesn’t just say that it is wrong to fold after putting more than one-third of the smallest stack in. It’s a lot more subtle than that! Think of all your commitment decisions as conditional commitment. If you are thinking of betting or raising at the commitment threshold but you’re not committed then you just need good reason to do so.

In part three we get to the real juicy stuff: Stack-To-Pot-Ratios!

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