Learning Texas Holdem Poker

Texas Hold'em Rules. It seems like ancient history now, but there was a time when poker players weren't playing No-Limit Texas Hold'em. Fixed-Limit Hold'em was the game of choice at the turn of the millennium; before that, it was lowball and stud games, and before that, 5-Card Draw was the universal way to play. Many players would argue that there are more relevant strategy tips. However, if you can master these five “Golden Rules”, and focus on them, you will be better than most Texas Hold’em players. 5 Best Texas Holdem Strategy Tips are: Choose an opening hands that can make you money in any given situation.

• Learn To Play Poker – Learning Texas Hold’em Recommended Poker Sites July 2020 Must be at least 18 to open a new account The game of Texas Hold’em is by far the premiere poker game in the world today, and millions of players worldwide play it online for fun, excitement, and the thrill of competition.
• A Brief History: Texas Hold 'em (or Hold'em, Holdem) is the most popular poker variant played in casinos in the United States. Hold 'em's simplicity and popularity has inspired a wide variety of strategy books which provide recommendations for proper play.

Good to Know Before MIT 15.S50 Begins

Poker / Texas Hold’em Rules

Obviously, you should know the ranking of the poker hands, and how cards are dealt in texas hold’em. Know the terms straight flush, four-of-a-kind (or quads), full house (or boat), flush, straight, three-of-a-kind, two-pair, pair, high card; know preflop, postflop, flop, turn, river.

Betting Rules

• You should know how betting in poker works. Understand the terms bet, raise, call, check, fold, and all-in. Check-raising means checking and then later raising in the same betting round.
• Know what a blind is. There will be a small blind and a big blind each hand.
• Know that preflop, the big blind is last to act. On each postflop betting round, the small blind is first to act, and the dealer is last to act. Know when a betting round ends (eg. if all players check, then the betting round ends).
• Other good terms to know for positions are cutoff (right of the dealer), hijack (right of the cutoff), under-the-gun (the person left of the big blind; first to act preflop).

Mathematical Concepts

In class we will run through an example to illustrate the terminology you should know.

• Suppose the pot has $500 in it, and your opponent bets another $250.
• You may call his $250, in which case cards are flipped over:
  • If your cards beat his, you win the whole pot of $500 + $250 (that he just put in) + $250 (that you just put in) = $1000. You profited $750 from this gamble.
  • If his cards beat yours, you get $0 back. You lost $250 from this gamble.
• Or, you can fold, resulting in a payoff of $0.
• In this example, we say that you are getting 3-to-1 odds to call. When you win, you profit 3 times what you risk losing.
• Suppose the probability that your cards beat his is 10%. Then your expectation for calling is 0.1(+750)+0.9(-250)=-150. By calling, you expect to lose $150 in the long run. Your expectation for folding is always $0. Therefore, you should fold, since your expectation for calling is negative.
• Suppose the probability that your cards beat his is 50%. Then your expectation for calling is 0.5(+750)+0.5(-250)=250. By calling, you expect to earn $250 in the long run. Therefore, you should call, since your expectation for calling is positive. If you were to play this game a large number of times, your average payoff per game would be $250, with 100% certainty. This is called the Law of Large Numbers.
• We say that a gamble has high variance if it takes a large number of trials to converge to the expected average payoff per game. A gamble has low variance if it converges quickly. In general, high variance means high risk, and high risk usually means higher reward, ie. higher expectation.

Book Recommendations

Miller, Ed, David Sklansky and Mason Malmuth. Small Stakes Holdem: Winning Big With Expert Play. Two Plus Two, 2004. ISBN: 978-1880685327. Only for limit hold’em, but still one of the classic books in poker and written by mathematicians.

Learn To Play Texas Holdem Poker Online

Slightly outdated, but very good:

• Harrington, Dan. Harrington on Hold 'em Expert Strategy for No Limit Tournaments, Vol. 1: Strategic Play. Two Plus Two, 2004. ISBN: 978-1880685334.
• Harrington, Dan. Harrington on Hold 'em Expert Strategy for No Limit Tournaments, Vol. 2: Endgame. Two Plus Two, 2005. ISBN: 978-1880685358.

Rodman, Blair, Lee Nelson, Steven Heston, and Phil Hllmuth, Jr. Kill Phil: The Fast Track to Success in No-Limit Hold 'em Poker Tournaments. Huntington Press, 2009. ISBN: 978-1935396314.

Nelson, Lee, Tyson Steib, Steven Heston, Joe Hachem, and Bertrand Grospellier. Kill Everyone: Advanced Strategies for No-Limit Hold 'em Poker Tournaments and Sit-n-Go's. Huntington Press, 2009. ISBN: 978-1935396307.

More entertaining than educational:
Hansen, Gus. Every Hand Revealed. Kensington Publishing Corp., 2008. ISBN: 978-0818407277. [Preview with Google Books]

Not that practical, but theoretically very interesting:
Chen, Bill and Jerrod Ankenman. The Mathematics of Poker. Conjelco, 2006. ISBN: 978-1886070257.

Nazarewicz, Pawel. Building a Bankroll. Pawel Nazarewicz, 2012. ISBN: 978-0615589886. Mostly for full ring cash games.

Welcome!

Learning Texas Holdem Poker Strategy

This is one of over 2,200 courses on OCW. Find materials for this course in the pages linked along the left.

MIT OpenCourseWare is a free & open publication of material from thousands of MIT courses, covering the entire MIT curriculum.

No enrollment or registration. Freely browse and use OCW materials at your own pace. There's no signup, and no start or end dates.

Knowledge is your reward. Use OCW to guide your own life-long learning, or to teach others. We don't offer credit or certification for using OCW.

Made for sharing. Download files for later. Send to friends and colleagues. Modify, remix, and reuse (just remember to cite OCW as the source.)

Learn more at Get Started with MIT OpenCourseWare