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- The fundamental theorem of poker, introduced by David Sklansky, states that every time you play your hand the way you would if you could see your opponent's cards, you gain, and every time your opponent plays his cards differently from the way he would play them if he could see your cards, you gain. This theorem is the foundation for many poker strategy topics. For example, bluffing and slow-playing (explained below) are examples of using deception to induce your opponents to play differently than they would if they could see your cards. There are some exceptions to the fundamental theorem in certain multi-way pot situations, as described in Morton's theorem.

Pot odds and poker probabilities

The relationship between pot odds and odds of winning is one of the most important concepts in poker strategy. Pot odds are the ratio of the size of the pot to the size of the bet required to stay in the pot. For example, if a player must call a $10 bet for a chance to win a $40 pot (NOT including his $10 call), his pot odds are 4-to-1 (20% probability). To have a positive expectation, a player's odds of winning must be less than his pot odds. If the player's odds of winning are also 4-to-1, and if he plays the pot five times, he puts in $10 five times, loses four times and wins $50 once (breaking even).

Deception

By employing deception, a poker player hopes to induce his opponent(s) to act differently than they would if they could see his cards. Bluffing is a form of deception to induce opponents to fold superior hands, or hands that have a greater share of the 'pot equity' than the bluffer's hand. This is known as 'bluffing with the best hand.' Against observant opponents, it is necessary for a player to bluff sometimes to induce opponents to call his bets when he actually does have a superior hand. If opponents observe that a player never bluffs, they won't call his bets unless they have very good hands. Counter-intuitively, against unobservant opponents it is ill advised to bluff at all. There is an old saying among professionals which states "You can't bluff someone who isn't paying any attention." Slow-playing is deceptive play in poker that is roughly the opposite of bluffing: betting weakly with a strong holding rather than betting strongly with a weak one. If this risky maneuver is implemented correctly, it is done so at least partially in order to vary one's play enough to avoid being predictable, and (very probably) to set up an opponent for a big loss due to a mistake based on misinformation.

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Stop global warming Protect your privacy and protect the environment help to stop bulk mail by opting out of all bulk mail. Save trees. Save your time and convenience.. - Poker has many variations, each following the same pattern of play.

The right to deal each hand typically rotates among the players and is marked by a token called a 'dealer' button or buck. In a casino, a house dealer handles the cards for each hand, but a button (typically a white plastic disk) is rotated clockwise among the players to indicate a nominal dealer to determine the order of betting.

One or more players are required to make forced bets to create an initial stake for which the players will contest. The dealer shuffles the cards, he cuts, and the appropriate number of cards are dealt to the players one at a time. Cards may be dealt either face-up or face-down, depending on the variant of poker being played. After the initial deal, the first of what may be several betting rounds begins. Between rounds, the players' hands develop in some way, often by being dealt additional cards or replacing cards previously dealt. At the end of each round, all bets are gathered into the central pot.

At any time during a betting round, if a player makes a bet, opponents are required to fold, call or raise. If one player bets and no opponents choose to match the bet, the hand ends immediately, the bettor is awarded the pot, no cards are required to be shown, and the next hand begins. This possibility of winning a pot without showing a hand makes bluffing possible. Bluffing is a primary feature of poker, one that distinguishes it from other vying games and from other games that make use of poker hand rankings.

At the end of the last betting round, if more than one player remains, there is a showdown, in which the players reveal their previously hidden cards and evaluate their hands. The player with the best hand according to the poker variant being played wins the pot.
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