Re: This business of adjusting to the ante structure
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Ante structure is critically important in determining optimal 3rd street play.
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To a point. Ante structure is a strong factor in optimal 3rd street play. Excluding stealing and defending against stealing, Andy B pretty much summed it up well. The structure of the game doesn't shift very many hands into playable vs not playable. It has a greater effect on which hands you prefer to limp with or complete with on third, and whether you raise someone or just call if they complete. I don't think that ante structure has a huge effect on the number of hands you play outside of stealing situations, and I think some people are vastly overestimating what percentage of one's profits come from steals.
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Starting pot size determines the value of your steal equity.
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What is your definition of "steal equity"? I can't think of one that doesn't involve the calling ranges of people left to act. Starting pot size is one factor, but it isn't the sole factor.
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Unless you have a hand that is a clear favorite to the board, the EV of folding versus limping versus completing
is a function of reverse implied odds and steal equity. (If you have a draw the decision is a function of implied odds versus steal equity.)
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Can you explain this further?
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If you have something like (5s4s)4c and there are three overcards behind you, your decision between folding, limping or completing is purely a function of pot size (obviously I am holding the exposed cards constant and assuming generic solid opponents).
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That you need to assume generic solid opponents just helps prove Andy B's point that the particular players in your game is an important variable.
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