Re: A very interesting ethics situation and a Bellagio Floor ruling
Someone mentioned this earlier, but Player 1 was probably only going to bet 400 based on the information that he had at the time. Then, Player 2 gave him additional information by attempting to shoot an angle and declaring a call. Player 1 now has more information about his opponents hand and can act on that information by increasing his bet size.
That information was gained in a split second and Player 1 was experienced enough to act on it.
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