Re: Playing Limit
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is this correct:
You make money in limit when you realize that your made hand or draw is not the best and fold, saving bets.
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That is just one of many ways to make money in limit.
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It just didn't make sense to me before how you could have winning players because if there multiple players in pots
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If there are routinely multiple players in pots, then they are playing bad hands. If the game is maniacal and they are correct to call postflop, then that means their preflop errors were much larger. It's quite common for a player to give up more than half of the size of the big blind in a multiway pot (in BB/100, that is losing 25 BB/100), and sometimes players even give up more than a big blind in a reraised pot. These calls make up 100% of the profit of many winning full ring limit players--the rest of their skill advantage may pay for the rake. It is hard to impossible to recover from poor preflop play in limit, since the postflop bets are not large in relation to the preflop bets.
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all getting 5:1 a lot of the time or better, they are almost always all correct to call,
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Actually, no. There was a hand in the small stakes limit forum where someone mentioned playing 33 in a 5 or 6-way pot where the cap was 5 bets. 5 players put in 5 bets on an A93 rainbow flop. The set of 3s held up. No one else pointed it out at the time, but what could the other players have had? Think about it... they couldn't all have aces, and no one had 99. They were not getting the correct odds to draw, and they put in 5 bets, which was a huge mistake.
Even if the players have the odds to draw, they often call without what you would call a decent draw, and they pay off on the river while dead.
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therefore no one is making mistakes and therefore everyone should be a winner which does not compute.
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Even if no one is making a mistake by calling, that doesn't mean they aren't making mistakes by failing to bet or raise when they should. By the way, many players overemphasize trying to get their opponents to make mistakes. Don't forget that you have to avoid making your own mistakes, which means pumping up the pot when you have an equity advantage, and calling to longshot draws when you have the odds.
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One more question, I read a post, I think by Ed Miller, that you should not be folding a reasonably big hand in a large pot for one bet. Is this true? ie. don't fold a set or a straight on a 3 flush board, etc.
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It's common for people to try to figure out "where they are at" during a hand. However, your task is not to determine whether you are probably ahead or not (even when you are betting, you can't bet as a 80% favorite if you are only ahead of busted draws which can't call). Your task is to determine whether your call is a good investment. When the pot is huge, calling does not need to win often at all to be a good investment.
Let's suppose you have A[img]/images/graemlins/spade.gif[/img] K[img]/images/graemlins/club.gif[/img] on a board of A[img]/images/graemlins/club.gif[/img] T[img]/images/graemlins/heart.gif[/img] 8[img]/images/graemlins/heart.gif[/img] 3[img]/images/graemlins/heart.gif[/img] 2[img]/images/graemlins/heart.gif[/img], and are first to act on the river. You could check and call, in fear of a heart, but after you check, just about any hand that beats you will be able to bet for value. If you bet, many weaker hands like AJ with no heart will make a crying call, and you can safely fold to a raise against most opponents, which means you do the same against stronger hands while getting more value from weaker hands. The same is true if you have many other hands of similar strength. So, when someone bets into you on a scary board, and you don't think that person is bluffing, consider that they may be making this type of bet. They figure that if you have them beat, they will call anyway, so why not bet? That possibility means you often have an easily profitable call when the pot is large and you have a set on a scary board.
The previous paragraph was not beginner-level thinking. Most of your opponents have not thought about that sort of situation. They just react to the current one. If you have thought about situations like the above, this should give you an advantage, since you can make correct plays your opponents think are surprising or wrong.
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