Most people have a pretty good understanding of pot odds - whether the amount of chips in the pot justifies making a call - but they fail to realize that making this calculation only solves part of the poker equation. Often, these players forget to think about how the rest of the hand is going to play out if they make a call, and fail to factor that information into their calculations. That's where implied odds come into effect.

In short, implied odds are a way to calculate the amount of money that you can possibly win if you make your hand. To put it another way, your implied odds are the total amount you could win divided by what you're putting into the pot. more...

Many players understand the concepts involved in building a large chip stack during a tournament. What they dont' understand, however, is how to use their chips effectively once they've gotten them. Once they've accumulated a lot of chips, many players want to control the action, but they haven't thought through how to take command of the table.

When I'm the big stack in a tournament, being the bully is always my first consideration. I want to eliminate players, continue to build my stack, and avoid dangerous situations. If I can create a scenario where I'm the table captain - meaning I dictate the size of the pots - the rest of the action becomes easier to read. I can frequently steal the blinds and antes, and if someone else re-raises, it's pretty easy to put them on a hand because I know they can only play back at me with really strong cards. more...

Heads-up play is one of the most important aspects of poker, and many players could benefit from strengthening this part of their game.

Position is crucial in heads-up play. So is aggression and reading your opponent. In fact, playing aggressively in position can often be the deciding factor in whether or not you win the pot. You can have a much worse hand, but if you trust your reads, you can often take the pot with the right board. more...

In tournaments, I play lots of hands. I'll put my money in with all kinds of connected cards, especially when in position. I might limp, I might min-raise or raise a little more than the minimum, depending on the circumstances. I'm looking to keep my table off balance so they don't know where I'm coming from.

My overall goal is to pick up a lot of small pots without a lot of resistance. I might raise in position and hope for a call from one of the blinds. If I raise pre-flop with something like 6-7, I might miss the flop entirely, but the raise puts me in control of the hand. On the flop, I'll likely bet if checked to, even if I miss. That small bet on the flop will usually win me a small, but helpful pot. more...

In Limit Hold 'em, the big blind is one of the toughest position to play. You're out of position, and that's never a good thing, but usually, you'll be getting excellent odds to continue with the hand. Against a single opponent who has raised, you'll be getting better than 3 to 1 and, in most hands, you're no more than a 2 to 1 dog. The problem is, you'll often find yourself going into the flop with shaky cards and, at that point, you're sure to face some tough decisions.

Before I talk about some tricky situations that develop in the big blind, I want to note that you can make your life a little easier by folding some hands pre-flop. If you're holding a medium Ace and you're facing an early position raise from a player who you know plays only good cards up front, then fold. It may seem like you're getting a nice price to continue, but in this spot, you're only going to get into trouble. When you miss the flop completely, it's going to be tough to continue and, if you hit an Ace, you may lose a lot to a hand that has you dominated. I'd rather play 6-7 against an early position raise from a tight player than A-7. more...

As you're looking through this week's schedule and you're trying to decide on which teams to bet on, it's always a good idea to look at the home dogs first. When you take the dog, there are three results that can occur in a game: the dog can win, the favorite can win, or the dog can lose but cover. Two of those outcomes are good, only one is bad! Take the Week One game between Atlanta at San Francisco. San Francisco was down 21-13 and came back with a late touchdown that really didn't affect the outcome of the game (Atlanta won 21-19), but all of a sudden your +3.5 looks pretty good. Then in Week Two it was the New York Giants (+3) over Washington with some impressive looking defense from what I could tell. more...

Money management theories abound but I have yet to see any proof that any of them really work. What I do know is there are a lot of bad money management strategies to avoid and that is what I will cover in this article.

Let me get the key point out of the way: Poor money management generates more losses for players than bad handicapping or not shopping for lines. Even the worst bettors seldom lose more than 55% of straight wagers. The easiest way to explain is to show a few examples. Take a look at the following four scenarios and hopefully you won't recognize any of these habits as yours. more...

Also known as a combo, a parlay is a selection of two or more wagering outcomes, in which the odds for the payouts increase with the number of teams (sides/totals) chosen; the more teams you choose to parlay, the better the payout. You can combine different sports, pointspreads and moneylines in win/loss and/or totals betting.

In all honesty it's hard for me, on behalf of players, to recommend parlays because of the high hold percentage given to the house, but I can understand why players like betting parlays - it's all about the big payoffs! "Sometimes the smallest investments can turn into the greatest rewards," said one winner. more...

Remember that sportsbooks make their money by withholding a small commission on winning wagers. If Player A bets on Atlanta -4, risking the standard $110 to win $100 and Player B bets $110 to win $100 on Buffalo +4, then the sportsbook makes $10 regardless of the outcome, as long as the final score isn't Atlanta by 4 points (in which case both wagers would be pushed and nobody makes any money). Since the total wagered is $220, the house's gross profit % in this simple scenario is about 4.5%. This number is the Theoretical Hold Percentage (or THP for short) for a straight wager. more...

Arguably, there is no simpler bet than the game total. Simply add the score of the two teams together (including Overtime) and if it is higher than the posted total, the Over wins. If it is lower than the posted number, the Under wins. It doesn't get easier than that. However, unlike pointspreads, many new bettors have difficulty predicting outcomes for totals, either from lack of experience or just lack of knowledge.

Most bettors are fans and fans like points so the Over is always a popular choice for recreational bettors. This results in the totals typically moving up over the course of the week. However, professional bettors know this and bet enough Unders to keep bookmakers honest and the posted totals fair. A simple rule for betting totals though is to bet the Over early in the week and the Under late. This won't always work but if you track this rule over any length of time, you should see it holds up as a general trend. more...