High Stakes Poker - run it twice

DayTripping · #1 02-07-2006, 02:10 PM

On HSP last night I saw a couple instances where players agreed to run the turn/river twice after the flop. I believe each time both players were all in and knew what the opponent held. Why would the player who is favored to win after the flop ever agree to do this?

TylerD · #2 02-07-2006, 02:12 PM

reduce variance.

DayTripping · #3 02-07-2006, 02:16 PM

Seems to contradict the idea of wanting to get all your money in when you have the best of it.

Runner Runner · #4 02-07-2006, 02:19 PM

It's not a contradiction at all. When you have the best of it, your opponent is rarely going to draw out on you both times so you are basically freerolling for the whole thing and splitting when he does draw out 1 out of 2 times. I would take the deal to reduce variance everytime if I was betting as much as they are.

Mano · #5 02-07-2006, 02:22 PM

If you had a bet where you are a 60/40 favorite and your entire bankroll is a million dollars, would you rather make one bet for a million dollars, or a million bets of $1 each? Both have the same expected value, but the latter bet has the lower variance.

Lady Dont Tekno · #6 02-07-2006, 03:05 PM

[ QUOTE ]
If you had a bet where you are a 60/40 favorite and your entire bankroll is a million dollars, would you rather make one bet for a million dollars, or a million bets of $1 each? Both have the same expected value, but the latter bet has the lower variance.

[/ QUOTE ]

You should write a book, that was explained very well.

BigSoonerFan · #7 02-07-2006, 09:20 PM

[ QUOTE ]
[ QUOTE ]
If you had a bet where you are a 60/40 favorite and your entire bankroll is a million dollars, would you rather make one bet for a million dollars, or a million bets of $1 each? Both have the same expected value, but the latter bet has the lower variance.

[/ QUOTE ]

You should write a book, that was explained very well.

[/ QUOTE ]

To add to that, it's all about gambling. Do you want to do it? Sure you can gamble with your 60% to make a million or you can just take your "real" profit (in this example, 20%).

Isura · #8 02-07-2006, 02:54 PM

[ QUOTE ]
Seems to contradict the idea of wanting to get all your money in when you have the best of it.

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WTF

maurile · #9 02-07-2006, 03:13 PM

[ QUOTE ]
Seems to contradict the idea of wanting to get all your money in when you have the best of it.

[/ QUOTE ]
No it doesn't. They players were all in before agreeing to run it twice. They're still all in after agreeing to run it twice.

Cooker · #10 02-07-2006, 02:18 PM

As has been discussed in other forums, running it twice doesn't change the EV at all and simply reduces the variance. I guess some players would like a touch lower variance all in for $100,000. Also, some people do this to get action figuring that if they are known to run it twice people will be less afraid to call big bets on early streets when in reality, it costs them nothing in EV to run it twice.