Value

WHAT IS "value" in a pot? Here is a revealing example, from a low level Omaha game. Before the flop, the betting had been very strong with raises all round. Mervyn, a stolid but quite aggressive player, led the charge. It was obvious what he had: a pair of aces. The flop came down with four more or less random cards. Mervyn bet the pot, which was already up to £360, as he should do. Five players folded round to Ranjit, a very volatile gambler who enjoys his poker and always attracts action.

Ranjit only had £55 left, and absolutely no sort of hand. But the money odds were offering him over 7-1! So he stuck his last chips in. He was rewarded by hitting a "back door" (last two cards of the flop) two pairs, to win the pot. To his credit, Mervyn was quite amused at this reversal.

Here is another case of value, where I ducked the issue, to my cost. Again the game was Omaha, the four card version of Hold 'em. I was on the button (last to speak) and called an £8 raise with K Q Q 8). Not a great hand, but eminently playable. The pot was then check-raised for £35 by a man who was obviously waiting to pile the money in, and three players ahead of me called. The value was obvious - the pot was close to £250 and sitting last, with no one able to raise behind me, I could call for another £35.

It was tempting. But when I looked at my cards again I did not like what I saw. The big raiser has probably got aces doubled-suited (a suited card to go with each ace). I don't really want to catch spades to make a king-high flush, and wind up second best to someone with the nut flush. (I know the check-raiser has aces but not which ones). What I really want is a queen to fall to make trips, which is a fairly weak draw. I also thought that if a queen did happen to fall, there would be several straight draws around the table). So I folded.

To my chagrin the flop came down A 10 5 all spades. The man to my right bet a tentative £75 and took the pot without more ado.