Johns Hopkins Poker Course - Lecture 1 (Reupload)

Full Transcript

https://www.youtube.com/watch?v=7cAzgUIKI68

[00:00] so welcome to the biggest intercession.
[00:03] so welcome to the biggest intercession course in the history of Johns Hopkins.
[00:10] I don't actually know if that's true.
[00:13] I don't actually know if that's true.
[00:14] I just made it up but it sounded really good.
[00:17] I'm gonna be teaching you guys a lot about bluffing and that was my first attempt.
[00:21] but it it's possible that it's true.
[00:24] so I had this crazy idea.
[00:24] I am a pretty fanatical about my poker.
[00:29] it's my biggest hobby and I said I should teach a course in intersession about poker.
[00:33] and I thought maybe I'll get like 20 people will show up.
[00:35] and so they asked me for a cap and I said a hundred students.
[00:40] you know let's just put the cap way up here.
[00:42] and then the day registration opened we had 50 people on the waitlist and a hundred in the class.
[00:47] so I knew we had to make an adjustment.
[00:47] and I'm super excited that we have two hundred and thirty registered students for this class.
[00:53] it's not at all what I expected but I think that that we can handle it.
[00:58] so let me just tell you a little bit about how
[01:00] Just tell you a little bit about how this came to be and introduce myself.
[01:02] I'm Avi Reuben, obviously, and I'm a professor in the computer science department.
[01:07] And I've been here at Hopkins on the faculty for 18 years.
[01:12] Before that, I spent nine years in industry research labs at AT&T and Belcore.
[01:18] And about 15 years ago, I became really, really interested in poker.
[01:21] And not just playing poker, but studying the game, understanding it.
[01:25] And then playing competitively, and I got into it because my brother was teasing me about how bad a poker player I was.
[01:32] And he suggested that I read this book on poker.
[01:33] And I'm like, why would you read a book on poker?
[01:35] Poker's just something fun you play with your friends.
[01:39] And he said, no, no, read this book.
[01:41] And I read it and I said, wow, there's a lot of science here.
[01:42] And now I've since written over 20 books.
[01:45] I've studied them, and for like the last 10 years, my family's been getting really sick and tired of me talking about how I should teach an intersession course on poker.
[01:53] And so now I have a daughter who's a junior here at Hopkins, and I knew it's almost my last chance for me to teach an.
[02:01] almost my last chance for me to teach an intersession course that she could take.
[02:03] intersession course that she could take because she's a writing seminars major.
[02:05] because she's a writing seminars major and I'm computer science and she wouldn't really take any of my other.
[02:08] wouldn't really take any of my other classes that I would offer and so I finally with her being able to take the.
[02:13] finally with her being able to take the class I said okay.
[02:13] class I said okay I'm gonna get off my butt into it and I've spent the last several months.
[02:17] I've spent the last several months preparing for this course and making a lecture slides etc.
[02:25] now my daughter was a little concerned that at some point in the semester or in the intersession I would do something that would really embarrass her.
[02:31] would do something that would really embarrass her which is I think a legitimate concern if you're a kid and your father's teaching there.
[02:37] so I thought let's just get that out of the way right now let me let me do that and then she doesn't have to worry anymore.
[02:42] so starting out that's Ilana you might recognize her she's in the room right now and the story I'm gonna tell that's going to embarrass Ilana is that you know imagine that you're a dad with three young kids and you're really into poker what is it that you teach your kids poker right.
[03:00] so I taught my kids
[03:02] kids poker right so I taught my kids poker at a very young age and we used to poker at a very young age and we used to have these intense poker games with like have these intense poker games with like my five year old twins and eight year old Ilana sitting around the table with.
[03:10] sunglasses and hoodies and we're like playing poker and Ilana had a particular move which he denies but which I swear she used to do she'd have her sunglasses up here like this and whenever she'd get a really good hand they came down good real quiet and serious I'm like okay Lana's got a good hand now so one time I knew she had a strong hand and I put out a bet and she folded I'm like that's interesting I really wonder cuz maybe my tell is a little off and she she wasn't strong I said what you have and I looked at her cards and she had folded a full house I'm like what were you doing she said I was bluffing okay bluffing is deception I'll give you that but the the bluff fold is not a move that we're going to teach in this class okay so I want to get to know you guys a little bit before we get started and so I want.
[04:03] bit before we get started and so I want to see just by show of hands how many of you have never played poker before okay
[04:10] a few people and I should tell you that I geared this course towards you guys
[04:14] because the people that have played there'll be some things that you know
[04:16] but I want everyone even if you've never played before to be able to take this class
[04:20] how many of you have played poker before this should be everybody else I can't think of a third category
[04:27] okay how many play regularly and by that I mean like at least once a month you try to play poker all right
[04:32] how many of you have played in a casino I know most of you probably aren't old enough but maybe internationally
[04:40] okay how many of you understand the concept of pot odds
[04:46] high ups I can see okay how about know what it means for your hand to be counterfeited like for people including my two course assistants can figure
[05:03] my two course assistants can figure outside pots okay a little more have one.
[05:08] outside pots okay a little more have one more than $3,000 in a poker tournament.
[05:11] more than $3,000 in a poker tournament okay well the next question will then be answered and finally I was looking for a replacement for myself for this course.
[05:19] but if no one raises their hand then I'll assume no one has won a million dollars in poker here so let me tell you about my goals for the course one is to have a basic understanding of the theory of poker.
[05:30] poker is actually very complex very involved and I do believe and maybe someday I could teach a full semester course and applied math and statistics on poker and there would be plenty of stuff left to cover but I want to give you a basic understanding and also to know how to apply the theory.
[05:48] it's one thing to understand a theory but in order to apply it you actually have to experience it but poker obviously is fun if you're just sitting around solving formulas you're not going to enjoy yourselves and I want to make sure you enjoy poker and the way that I enjoy poker is by winning right so I want to.
[06:03] Poker is by winning, right? So I want to teach you how to win.
[06:06] I'm gonna give you, teach you how to win.
[06:08] I'm gonna give you an appreciation for the history of poker.
[06:10] So from time to time when I'm teaching a concept, I'm going to stop and I'm going to talk about some famous pro who's known for that concept.
[06:14] And maybe show you like a two or three-minute video clip of that person that's relevant.
[06:21] Finally, we're going to have hands-on experience playing poker.
[06:23] Actually, we decided not to use Poker Stars.
[06:26] I'll show you the site we'll be using in a minute.
[06:30] But part of this course is going to be playing poker with your classmates.
[06:32] And I hope we all have a great intersession.
[06:36] I think it's going to be.
[06:38] I chose this picture here of John Gorsuch because just to give you an idea of how fun poker can be.
[06:41] John is a friend of mine, he's in my poker group and we talk all the time.
[06:44] And he this summer at the World Series of Poker, he won a bracelet.
[06:48] So the World Series of Poker is a series of tournaments that takes place every summer for about five to six weeks.
[06:50] Each of the tournaments lasts three to
[07:05] each of the tournaments lasts three to five days and then there's the main.
[07:06] five days and then there's the main event which is the one that's on ESPN.
[07:08] event which is the one that's on ESPN and it lasts eight days and you win like.
[07:10] and it lasts eight days and you win like ten million dollars the each of those.
[07:13] ten million dollars the each of those tournaments is called a bracelet event.
[07:15] tournaments is called a bracelet event because the winner will get a bracelet.
[07:17] because the winner will get a bracelet in addition to some money so last summer.
[07:20] in addition to some money so last summer there was an event called the.
[07:21] there was an event called the millionaire maker and the millionaire.
[07:24] millionaire maker and the millionaire maker is just like it sounded guaranteed.
[07:26] a million dollars to first place and.
[07:27] a million dollars to first place and they got so many people that bought into.
[07:30] they got so many people that bought into it that first place was one point three.
[07:32] it that first place was one point three four million dollars and John won it he.
[07:34] four million dollars and John won it he got first place in it he also about two.
[07:38] got first place in it he also about two days before it ended was very very very.
[07:41] days before it ended was very very very low in chips he was kind of what we call.
[07:43] low in chips he was kind of what we call on fumes he wasn't doing very well and.
[07:45] on fumes he wasn't doing very well and then he made a comeback any won the.
[07:47] then he made a comeback any won the tournament and he quit his job and now.
[07:49] tournament and he quit his job and now he goes around on the circuit and plays.
[07:51] he goes around on the circuit and plays professionally and the last update I got.
[07:54] professionally and the last update I got from him he just cashed at a tournament.
[07:56] from him he just cashed at a tournament in Montreal so he's he's a great poker.
[07:59] in Montreal so he's he's a great poker player and we're gonna talk about some.
[08:01] player and we're gonna talk about some of the famous people in this class so I.
[08:04] of the famous people in this class so I also wanted to give credit and show you.
[08:08] also wanted to give credit and show you some of the books that I used in preparing this course.
[08:12] so a lot of the course is going to be walking through hand examples.
[08:16] some of the hand examples that we're going to go through our hands that I played but most of them are hands that I found in books that I found very pedagogical and very interesting to look at the hand what happened in the hands.
[08:26] and the primary book that I used is this one in the top left here whoops let's see cash games by Harrington.
[08:36] it's a three volume set and that is the book that I got from my brother that started me on poker and kind of learning how to play the game.
[08:45] my second favorite book here is the middle one in the top row.
[08:47] it's a lot more advanced but it's got some really good concepts and I think it's a must read for someone that wants to get serious now.
[08:55] let me talk to you for a minute about getting serious.
[08:59] I'm hoping that most of you I'm guessing over 90 percent this is a fun exposure class you don't know that much about poker.
[09:04] it's kind of gets a lot of attention on TV and a lot of people
[09:08] of attention on TV and a lot of people play it and you want to see how cool it.
[09:10] play it and you want to see how cool it is and learn a bunch about it and that's great.
[09:11] is and learn a bunch about it and that's great that's what I'm hoping you'll get out of it.
[09:13] great that's what I'm hoping you'll get out of it but there'll be a few of you that get the bug that I have and you're gonna become serious about poker and the.
[09:15] out of it but there'll be a few of you that get the bug that I have and you're.
[09:17] that get the bug that I have and you're gonna become serious about poker and the.
[09:19] gonna become serious about poker and the first thing I want to tell you is that.
[09:20] first thing I want to tell you is that if you ever win the main event just remember your professor who taught you about this.
[09:22] if you ever win the main event just remember your professor who taught you about this the second thing is if you.
[09:24] about this the second thing is if you find yourself broke homeless and stealing money to buy into your next.
[09:26] the second thing is if you find yourself broke homeless and.
[09:29] find yourself broke homeless and stealing money to buy into your next tournament don't blame me.
[09:31] stealing money to buy into your next tournament don't blame me I'm not trying to get you guys hooked on something that's addictive.
[09:33] tournament don't blame me I'm not trying to get you guys hooked on something.
[09:34] to get you guys hooked on something that's addictive it's just I find it to be a really fun thing to do.
[09:37] that's addictive it's just I find it to be a really fun thing to do so let me give you the outline of the course.
[09:39] be a really fun thing to do so let me give you the outline of the course first thing we're going to do and we'll cover all of this today is how to play the game.
[09:43] give you the outline of the course first thing we're going to do and we'll cover.
[09:45] thing we're going to do and we'll cover all of this today is how to play the game what are the mechanics.
[09:47] all of this today is how to play the game what are the mechanics how does poker work.
[09:49] game what are the mechanics how does poker work mostly Texas Hold'em and I'm gonna focus on cash games as you're gonna learn in a minute.
[09:52] poker work mostly Texas Hold'em and I'm gonna focus on cash games as you're gonna learn in a minute poker and in particular Texas Hold'em has two kinds of games.
[09:54] gonna learn in a minute poker and in particular Texas Hold'em has two kinds.
[09:57] particular Texas Hold'em has two kinds of games you can play cash games and tournaments.
[09:59] of games you can play cash games and tournaments and we will be playing.
[10:01] cash games and tournaments and we will be playing tournaments and we will be learning a bunch about tournaments but the primary focus of the theory is going to be on.
[10:02] tournaments and we will be playing tournaments and we will be learning a.
[10:04] tournaments and we will be learning a bunch about tournaments but the primary.
[10:06] bunch about tournaments but the primary focus of the theory is going to be on.
[10:08] focus of the theory is going to be on cash games and the reason is that cash.
[10:12] cash games are much more interesting and they require a lot more skill and I will even give you a short easy-to-understand mathematical proof later on in the course that cash games require more skilled than tournaments and that's not tongue-in-cheek I really will show you that then we'll cover the fundamentals and the fundamentals I think will take about two-and-a-half days so I'll start it today and the next two lectures we're going to be learning fundamentals after that we're going to learn very Hold'em specific things we're going to each one of these I think is about a day maybe a little less than a day lecture so how to play preflop preflop is when you first get you cards and nothing has happened yet how to play on the flop is another one and then a whole section on how to play on the turn and for each one of these we're going to look at hands and decisions where the key decision happened at that point so like when we're looking at turn we're going to look at a hand where the key decision happened on turn if you don't know what the turn is.
[11:09] turn if you don't know what the turn is you will in a minute I'm gonna go.
[11:10] you will in a minute I'm gonna go through everything from a total beginner.
[11:12] through everything from a total beginner standpoint we're gonna look at the river.
[11:14] standpoint we're gonna look at the river play so once I finished covering preflop.
[11:17] play so once I finished covering preflop flop turn river then I'm going to turn.
[11:19] flop turn river then I'm going to turn to some advanced concepts different.
[11:21] to some advanced concepts different moves like the squeeze move if those of.
[11:23] moves like the squeeze move if those of you have heard of it and a bunch of.
[11:24] you have heard of it and a bunch of floating all these other different moves.
[11:26] floating all these other different moves that you can make in poker and how to.
[11:28] that you can make in poker and how to defend against them as well finally.
[11:31] defend against them as well finally we're going to talk about tournaments.
[11:33] we're going to talk about tournaments and we're going to play some tournaments.
[11:35] and we're going to play some tournaments and I'll get into that in a second.
[11:39] and I'll get into that in a second poker etiquette is a big deal if any of.
[11:42] poker etiquette is a big deal if any of you play golf you know that if you bring.
[11:46] you play golf you know that if you bring someone out on the golf course that's.
[11:47] someone out on the golf course that's never played before they're gonna walk.
[11:49] never played before they're gonna walk in front of your ball on the green and.
[11:50] in front of your ball on the green and they're gonna talk to you when you're.
[11:51] they're gonna talk to you when you're taking off and they're gonna mess up.
[11:52] taking off and they're gonna mess up everything and you're gonna cringe.
[11:54] everything and you're gonna cringe because your other friends gonna be like.
[11:55] because your other friends gonna be like how did you bring this guy out on the.
[11:56] how did you bring this guy out on the golf course.
[11:57] golf course well poker is even worse there are all.
[11:59] well poker is even worse there are all sorts of unwritten rules so I created a.
[12:01] sorts of unwritten rules so I created a whole lecture for you I think it's about.
[12:03] whole lecture for you I think it's about 45 minutes on poker etiquette and how to.
[12:06] 45 minutes on poker etiquette and how to play properly and we are going to many.
[12:08] play properly and we are going to many of you are going to get to play in a.
[12:10] of you are going to get to play in a live tournament and I'll talk about that.
[12:12] live tournament and I'll talk about that in a minute and I will expect you to follow this etiquette.
[12:13] in a minute and I will expect you to follow this etiquette.
[12:17] follow this etiquette finally if we have time which I don't expect we will but.
[12:19] time which I don't expect we will but I've prepared some material we're going to look at some variants of poker like Omaha high-low game stud and some different games maybe there'll be room for a sequel.
[12:22] to look at some variants of poker like Omaha high-low game stud and some different games maybe there'll be room for a sequel.
[12:24] Omaha high-low game stud and some different games maybe there'll be room for a sequel.
[12:26] different games maybe there'll be room for a sequel.
[12:29] for a sequel if I don't get to that let me talk about some resources the main one for you to know is Hopkins poker course calm.
[12:31] me talk about some resources the main one for you to know is Hopkins poker course calm.
[12:34] one for you to know is Hopkins poker course calm.
[12:36] Hopkins poker course calm feel free to take a picture of this slide if you need to because there's some information although I will be I'll be posting all the lecture slides every day after class on hope Hopkins poker course calm.
[12:40] course calm feel free to take a picture of this slide if you need to because there's some information although I will be I'll be posting all the lecture slides every day after class on hope Hopkins poker course calm.
[12:42] of this slide if you need to because there's some information although I will be I'll be posting all the lecture slides every day after class on hope Hopkins poker course calm.
[12:44] there's some information although I will be I'll be posting all the lecture slides every day after class on hope Hopkins poker course calm.
[12:45] be I'll be posting all the lecture slides every day after class on hope Hopkins poker course calm.
[12:48] slides every day after class on hope Hopkins poker course calm.
[12:50] Hopkins poker course calm so if that's the only thing you know you can get the PDF of these slides shortly after class so you don't need to take notes from the slides if if that's something you're concerned about.
[12:52] the only thing you know you can get the PDF of these slides shortly after class so you don't need to take notes from the slides if if that's something you're concerned about.
[12:54] PDF of these slides shortly after class so you don't need to take notes from the slides if if that's something you're concerned about.
[12:56] shortly after class so you don't need to take notes from the slides if if that's something you're concerned about.
[12:59] take notes from the slides if if that's something you're concerned about.
[13:00] something you're concerned about.
[13:02] we're also you can see in the back were videotaping this I've got a mic on and our plan is to make the slides available on Hopkins poker course calm with the.
[13:04] videotaping this I've got a mic on and our plan is to make the slides available on Hopkins poker course calm with the.
[13:08] our plan is to make the slides available on Hopkins poker course calm with the.
[13:11] on Hopkins poker course calm with the video edited into them and so for those
[13:14] video edited into them and so for those of you that will have to miss a lecture
[13:16] of you that will have to miss a lecture here and there what you can do is
[13:18] here and there what you can do is go to that website and watch that
[13:20] go to that website and watch that lecture and you'll see the slides I
[13:22] lecture and you'll see the slides I strongly discourage you from using that
[13:24] strongly discourage you from using that as a replacement for coming to class
[13:26] as a replacement for coming to class because as you're gonna see we're gonna
[13:27] because as you're gonna see we're gonna do a lot of interactive things and I
[13:29] do a lot of interactive things and I think you learn a lot more by being here
[13:31] think you learn a lot more by being here but those slides will be those I'm sorry
[13:34] but those slides will be those I'm sorry the tape lectures will be available to
[13:36] the tape lectures will be available to you and the course assistants here are
[13:39] you and the course assistants here are both named Daniel Danny and Daniel are
[13:42] both named Daniel Danny and Daniel are in the back they're helping with
[13:43] in the back they're helping with audio-visual and they're also running
[13:44] audio-visual and they're also running the home games that we're going to be
[13:47] the home games that we're going to be talking about in a minute that you guys
[13:48] talking about in a minute that you guys are going to be playing in they've been
[13:50] are going to be playing in they've been very very helpful to me in preparing
[13:52] very very helpful to me in preparing this course so we're going to be using a
[13:56] this course so we're going to be using a site called Bluff F comm this is a site
[14:00] site called Bluff F comm this is a site that we're all gonna have to create
[14:01] that we're all gonna have to create accounts on and you go to bluff F com it
[14:06] accounts on and you go to bluff F com it does require flash so use a machine that
[14:10] does require flash so use a machine that you can enable flash on it and we want
[14:13] you can enable flash on it and we want you to set up your account as follows.
[14:16] you to set up your account as follows for your first name put your first name.
[14:19] for your first name put your first name and your last name the reason is that the site only displays your first name.
[14:23] and we want four reasons I'll explain in a minute to be able to see your name.
[14:27] your first and your last name and then for your last name put your last name because it makes you do that so first name last name is your first name and then last name is your last name.
[14:37] once you're logged in go to fine group and select the group J - poker after class today Danny our course assistant is going to come up here and provide about a 15 minute tutorial on using bluff Ave.
[14:51] and it's not required but your recommended that you stay if you have time and he will walk through the site and show you how to do it but it is a requirement of the course that you do this that you set up this account and that you play poker so we're going to have cash tables available there now I should point out this is all play money.
[15:10] there's not going to be any real gambling in this class but we're going.
[15:14] gambling in this class but we're going to have very strong incentive for you to play as if it's real money and I'll tell you those in a minute.
[15:20] so if you want to practice go to the site and if any other students in the class are on you'll be able to play against them and what I'm doing is designating 7:00 to 11:00 p.m. every night as the encouraged hours so you're all encouraged between 7:00 and 11:00 to go in and play and the site is supposed to create new tables so let's say we have 40 people playing and more people show up it'll create another table and they can go in and play at that table.
[15:46] I'm going to make an effort personally to play a lot so you might see me there it'll be my name and one of the reasons that I want you all to use your real names is that I want you to get to know each other through poker so if you're playing at a certain site and you see a particular name and that person is like you know always got it when you're playing against them and you get frustrated you could gotta meet them in class and tell give them like your thoughts or something like that.
[16:13] now as a further incentive every more in
[16:17] now as a further incentive every more in every afternoon when I start class I'm
[16:20] every afternoon when I start class I'm going to post the first slide will be
[16:22] going to post the first slide will be the top ten leaders the leaderboard for
[16:25] the top ten leaders the leaderboard for the cash games and what does that mean
[16:27] the cash games and what does that mean when you join the the Bluff F you're
[16:30] when you join the the Bluff F you're going to get ten thousand dollars and
[16:32] going to get ten thousand dollars and play money and then you're going to play
[16:34] play money and then you're going to play poker and you're going to be able to add
[16:37] poker and you're going to be able to add to that or you're going to lose from
[16:38] to that or you're going to lose from that and you also have the ability to
[16:40] that and you also have the ability to reload if you need to but you'll get a a
[16:43] reload if you need to but you'll get a a mark on your thing so how many times you
[16:45] mark on your thing so how many times you reloaded so you can't trick us that way
[16:47] reloaded so you can't trick us that way and so we're going to look through right
[16:50] and so we're going to look through right before class every day and see who the
[16:53] before class every day and see who the top ten are in terms of winnings on the
[16:55] site and you'll get the honor of being shown to the class I'm hoping to
[16:58] site and you'll get the honor of being shown to the class I'm hoping to penetrate that list occasionally so look
[17:00] penetrate that list occasionally so look out I'm gonna be playing okay we're also
[17:02] out I'm gonna be playing okay we're also going to play some tournaments and
[17:07] going to play some tournaments and here's what we're going to do and so
[17:09] here's what we're going to do and so that one of the differences between cash
[17:12] that one of the differences between cash and tournaments is that in a cash game
[17:13] and tournaments is that in a cash game your chips are your are your chips if
[17:18] your chips are your are your chips if you have a $5 chip it's worth $5 and you
[17:22] you have a $5 chip it's worth $5 and you can come and go as you please so you can
[17:24] can come and go as you please so you can sit down at a cash game play for half an
[17:26] sit down at a cash game play for half an hour walk away come back an hour later
[17:28] hour walk away come back an hour later play some more a tournament has a start
[17:31] play some more a tournament has a start time everybody has to start at the same
[17:33] time everybody has to start at the same time and you have to stay in the
[17:35] time and you have to stay in the tournament until you're out or until
[17:37] tournament until you're out or until it's over and you win and so we're going
[17:39] it's over and you win and so we're going to have to satellite tournaments on
[17:42] to have to satellite tournaments on Bluff Ave and these are the times and
[17:44] Bluff Ave and these are the times and dates you're required to play in at
[17:47] dates you're required to play in at least one of them you can play in both
[17:49] least one of them you can play in both of them and here's what we're going to
[17:52] of them and here's what we're going to do after let's take the Tuesday
[17:55] do after let's take the Tuesday tournament so that's a week from
[17:56] tournament so that's a week from tomorrow this is online you can play
[17:58] tomorrow this is online you can play from anywhere that you have a computer
[18:00] from anywhere that you have a computer and Internet the people who are in the
[18:04] and Internet the people who are in the top twenty when the tournament is over
[18:06] top twenty when the tournament is over so there's two hundred and thirty of you
[18:08] so there's two hundred and thirty of you so assuming all of you enter the first
[18:10] so assuming all of you enter the first satellite the top twenty is gonna be
[18:12] satellite the top twenty is gonna be like ten percent they're going to
[18:14] like ten percent they're going to qualify I'll tell you what that means in
[18:16] qualify I'll tell you what that means in a minute then we're gonna do the same
[18:18] A minute then we're gonna do the same thing the next night and you can play.
[18:20] Thing the next night and you can play the second time even if you played the first time in the second satellite.
[18:22] The second time even if you played the first time in the second satellite the top twenty who qualify excluding the people who have already qualified.
[18:25] Top twenty who qualify excluding the people who have already qualified so if you're in the top twenty in both you won't count in the second one.
[18:28] People who have already qualified so if you're in the top twenty in both you won't count in the second one.
[18:30] You're in the top twenty in both you won't count in the second one will take the next person down you'll also qualify.
[18:31] Won't count in the second one will take the next person down you'll also qualify.
[18:33] The next person down you'll also qualify so the big one is that next Thursday a week from this Thursday on January 23rd.
[18:36] So the big one is that next Thursday a week from this Thursday on January 23rd.
[18:40] Week from this Thursday on January 23rd I'm going to have a tournament at my house with 48 people it's a live tournament.
[18:43] I'm going to have a tournament at my house with 48 people it's a live tournament.
[18:45] House with 48 people it's a live tournament you come and you'll play with real chips and the way that I will determine the 48 people is the 20 people who qualified from the first online.
[18:48] Tournament you come and you'll play with real chips and the way that I will determine the 48 people is the 20 people who qualified from the first online.
[18:49] Real chips and the way that I will determine the 48 people is the 20 people who qualified from the first online the 20 people who qualified from the second online and my 8 discretionary seats.
[18:51] Determine the 48 people is the 20 people who qualified from the first online the 20 people who qualified from the second online and my 8 discretionary seats.
[18:54] Who qualified from the first online the 20 people who qualified from the second online and my 8 discretionary seats so the 8 discretionary seats are going to be I'm going to get one.
[18:57] The 20 people who qualified from the second online and my 8 discretionary seats so the 8 discretionary seats are going to be I'm going to get one.
[18:59] 20 people who qualified from the second online and my 8 discretionary seats so the 8 discretionary seats are going to be I'm going to get one.
[19:02] Online and my 8 discretionary seats so the 8 discretionary seats are going to be I'm going to get one.
[19:04] The 8 discretionary seats are going to be I'm going to get one I'm going to give the course assistance 1 and then various things.
[19:06] I'm going to get one I'm going to give the course assistance 1 and then various things I've got some senior Hopkins administrators who are interested.
[19:08] Give the course assistance 1 and then various things I've got some senior Hopkins administrators who are interested they might get a seat.
[19:10] Various things I've got some senior Hopkins administrators who are interested they might get a seat I'm going to have a riddle in the class.
[19:12] Hopkins administrators who are interested they might get a seat I'm going to have a riddle in the class this is my favorite all-time riddle.
[19:14] Interested they might get a seat I'm going to have a riddle in the class this is my favorite all-time riddle and it's a poker riddle and it's hard.
[19:17] I'm going to have a riddle in the class this is my favorite all-time riddle and it's a poker riddle and it's hard.
[19:18] Is my favorite all-time riddle and it's a poker riddle and it's hard I'll tell.
[19:21] a poker riddle and it's hard I'll tell you that it's a hard riddle and I'm you that it's a hard riddle and I'm probably gonna get to it tomorrow probably gonna get to it tomorrow sometime.
[19:25] sometime and if you don't know the riddle already and if you don't know the riddle already if you already know the riddle you're if you already know the riddle you're not eligible to use to solve the riddle.
[19:31] not eligible to use to solve the riddle you're not allowed to Google you're not you're not allowed to Google you're not allowed to talk to anyone the first.
[19:35] allowed to talk to anyone the first person who sends me the correct answer person who sends me the correct answer to the riddle will get a seat.
[19:38] to the riddle will get a seat automatically without having to qualify.
[19:40] automatically without having to qualify in the satellites I may also decide that.
[19:44] in the satellites I may also decide that and I'm still thinking about this.
[19:46] and I'm still thinking about this whoever's the leader in cash maybe will get an automatic seat although I would.
[19:51] get an automatic seat although I would expect that person to probably qualify through the tournaments anyway but we'll.
[19:54] through the tournaments anyway but we'll see.
[19:55] see and so.
[19:57] and so then we're going to have some prizes and.
[20:00] then we're going to have some prizes and I'll get to that in a minute.
[20:02] I'll get to that in a minute for this tournament let me pause because.
[20:06] for this tournament let me pause because I've been talking for a little bit now.
[20:08] I've been talking for a little bit now without taking a breath and see if you.
[20:09] without taking a breath and see if you guys have any questions okay so the next.
[20:15] guys have any questions okay so the next thing I want to do in this day and age.
[20:17] thing I want to do in this day and age is I want to raise the exposure of this.
[20:20] is I want to raise the exposure of this class because I didn't get enough.
[20:21] class because I didn't get enough students this time and so we're going to.
[20:24] students this time and so we're going to use Instagram and what we're going to do
[20:27] use Instagram and what we're going to do is say that whoever posts on Instagram
[20:32] is say that whoever posts on Instagram including the @ju poker and hashtag ghe
[20:35] including the @ju poker and hashtag ghe poker in your caption and you can take
[20:38] poker in your caption and you can take pictures in class any time won't bother
[20:39] pictures in class any time won't bother me take pictures that relate to poker
[20:42] me take pictures that relate to poker whoever gets the most likes before noon
[20:44] whoever gets the most likes before noon on Tuesday the 21st we're going to give
[20:47] on Tuesday the 21st we're going to give you a seat into the tournament without
[20:49] you a seat into the tournament without having to qualify so that should be your
[20:51] having to qualify so that should be your encouragement that's the best I could do
[20:53] encouragement that's the best I could do I'm not a marketing person so and this
[20:55] I'm not a marketing person so and this was actually my course assistants idea
[20:59] was actually my course assistants idea in order to get you a little more
[21:01] in order to get you a little more excited okay you can wait - to do
[21:06] excited okay you can wait - to do Instagram for the next five minutes
[21:10] Instagram for the next five minutes these are pictures I took at home of the
[21:12] these are pictures I took at home of the trophies which I've already had made so
[21:15] trophies which I've already had made so the one on the left is going to go to
[21:17] the one on the left is going to go to whoever wins the big tournament the live
[21:19] whoever wins the big tournament the live one it's actually quite big it's about
[21:21] one it's actually quite big it's about this big it's a big big trophy I know
[21:25] this big it's a big big trophy I know you're gonna have to play hard then the
[21:28] you're gonna have to play hard then the - I had two of this one made it's about
[21:31] - I had two of this one made it's about this big a little smaller and that goes
[21:34] this big a little smaller and that goes to the two satellite winners so normally
[21:36] to the two satellite winners so normally a satellite would stop after 20 so we
[21:39] a satellite would stop after 20 so we would play down to 20 the 20 qualifiers
[21:41] would play down to 20 the 20 qualifiers and everybody would go home but now
[21:43] and everybody would go home but now you're gonna play for the satellite
[21:44] you're gonna play for the satellite trophy and the reason is I want you guys
[21:46] trophy and the reason is I want you guys getting experience playing pokers that's
[21:48] getting experience playing pokers that's the whole idea here so you played all
[21:50] the whole idea here so you played all the way down and the last thing here is
[21:52] the way down and the last thing here is called a bounty coin this thing is about
[21:55] called a bounty coin this thing is about this big and I took a picture of it to
[21:58] this big and I took a picture of it to show you the two sides this is going to
[22:00] show you the two sides this is going to go to ever knocks me out of the live
[22:02] go to ever knocks me out of the live tournament so this is going to sit in my
[22:04] tournament so this is going to sit in my stack and if you're the person that
[22:06] stack and if you're the person that knocks me out assuming I don't win it
[22:08] knocks me out assuming I don't win it and I don't want to win it actually
[22:10] and I don't want to win it actually because I don't know what I'm going
[22:10] because I don't know what I'm going with that trophy you will get that coin
[22:15] with that trophy you will get that coin okay and as I mentioned we're going to
[22:18] okay and as I mentioned we're going to have a demo by Danny after class for
[22:20] have a demo by Danny after class for about 15 minutes of how to use the site
[22:23] about 15 minutes of how to use the site there are other resources for practicing
[22:26] there are other resources for practicing poker
[22:27] poker Zynga is an app that I like you can go
[22:29] Zynga is an app that I like you can go in it's free and you can practice the
[22:31] in it's free and you can practice the games are a little silly but if you
[22:33] games are a little silly but if you really just want to see hands and get
[22:34] really just want to see hands and get the experience it's not bad I like to
[22:37] the experience it's not bad I like to watch poker on TV nowadays you can watch
[22:40] watch poker on TV nowadays you can watch a lot online - poker after dark is great
[22:43] a lot online - poker after dark is great cash games those guys play like $500,000
[22:46] cash games those guys play like $500,000 buy-in
[22:47] buy-in were they really buy-in for their real
[22:49] were they really buy-in for their real money and play poker against each other
[22:50] money and play poker against each other famous pros high-stakes poker I don't
[22:55] famous pros high-stakes poker I don't know if any of you guys know who Gabe
[22:56] know if any of you guys know who Gabe Kaplan is but he's the emcee and those
[22:59] Kaplan is but he's the emcee and those poker really well welcome back kotter
[23:01] poker really well welcome back kotter probably only the two of us know what
[23:04] probably only the two of us know what that is maybe one or two other people so
[23:07] that is maybe one or two other people so one of the things I'll encourage you to
[23:09] one of the things I'll encourage you to do if you watch poker on TV is there are
[23:13] do if you watch poker on TV is there are two things that I think are fun to do
[23:15] two things that I think are fun to do one is pause the action and think about
[23:19] one is pause the action and think about what's going on in the hands you see
[23:21] what's going on in the hands you see somebody do something you've been
[23:22] somebody do something you've been learning in this class about the flop
[23:24] learning in this class about the flop that turned the river different
[23:25] that turned the river different strategies different fundamentals the
[23:27] strategies different fundamentals the guys that are playing on TV usually know
[23:29] guys that are playing on TV usually know that stuff really well and so pause it
[23:31] that stuff really well and so pause it and ask yourself what would I do in this
[23:33] and ask yourself what would I do in this case how should I be thinking about this
[23:35] case how should I be thinking about this another thing that you might want to do
[23:37] another thing that you might want to do is on the screen they'll often show the
[23:40] is on the screen they'll often show the cards that the players have put a piece
[23:42] cards that the players have put a piece of tape over that and try to figure out
[23:44] of tape over that and try to figure out what based on how they're playing what
[23:46] what based on how they're playing what do they have and that that can actually
[23:48] do they have and that that can actually lead you to reason about poker and think
[23:50] lead you to reason about poker and think about it so let me talk a little bit
[23:53] about it so let me talk a little bit about the difference between theory and
[23:55] about the difference between theory and practice in lectures I'm gonna be giving
[23:57] practice in lectures I'm gonna be giving you guys theory but when you're home
[23:59] you guys theory but when you're home playing in the class you're gonna be
[24:01] playing in the class you're gonna be getting practice so I think that knowing
[24:04] getting practice so I think that knowing all the theory without actually playing
[24:05] all the theory without actually playing a lot without getting your hands dirty
[24:07] a lot without getting your hands dirty would be like trying to learn how to fly
[24:09] would be like trying to learn how to fly an airplane from a book right do you
[24:11] an airplane from a book right do you think you could do that you learn all
[24:12] think you could do that you learn all the theory about how to fly an airplane
[24:14] the theory about how to fly an airplane and then just get in an airplane and
[24:15] and then just get in an airplane and expect to be able to fly it I don't
[24:17] expect to be able to fly it I don't think so and the same thing with poker
[24:19] think so and the same thing with poker in fact people have asked me before who
[24:23] in fact people have asked me before who do you think would be a better poker
[24:24] do you think would be a better poker player somebody like me who studies all
[24:27] player somebody like me who studies all the math who studies all the theory who
[24:29] the math who studies all the theory who plays you know once a week a couple
[24:32] plays you know once a week a couple times a month or a guy who doesn't know
[24:35] times a month or a guy who doesn't know anything about the theory or the math
[24:37] anything about the theory or the math but he plays 40 hours a week for for all
[24:39] but he plays 40 hours a week for for all the times a full time player and it's
[24:41] the times a full time player and it's easy the guy who plays all the time
[24:43] easy the guy who plays all the time because you see every situation and you
[24:45] because you see every situation and you develop intuitions and what worked and
[24:48] develop intuitions and what worked and what didn't work so you cannot just
[24:49] what didn't work so you cannot just learn the theory and not play you have
[24:52] learn the theory and not play you have to spend time learning how to play okay
[24:57] to spend time learning how to play okay so let me tell you this is a pass/fail
[25:00] so let me tell you this is a pass/fail class right so there has to be a way to
[25:02] class right so there has to be a way to pass and there has to be a way to fail
[25:04] pass and there has to be a way to fail and let me tell you what you're going to
[25:05] and let me tell you what you're going to need to do first thing is you're gonna
[25:07] need to do first thing is you're gonna have to watch two movies I know that
[25:09] have to watch two movies I know that that's hard but the two movies are
[25:12] that's hard but the two movies are rounders and all in the poker movie
[25:16] rounders and all in the poker movie rounders by the way is the greatest
[25:18] rounders by the way is the greatest movie of all time you have to play
[25:22] movie of all time you have to play online cash games and you have to
[25:25] online cash games and you have to register at least six hours in the
[25:26] register at least six hours in the course of the semester I'll probably put
[25:29] course of the semester I'll probably put that in tonight but I expect you guys
[25:30] that in tonight but I expect you guys that you know that's a bare minimum
[25:33] that you know that's a bare minimum don't just meet the six hours and then
[25:34] don't just meet the six hours and then stop you have to play at least one of
[25:38] stop you have to play at least one of the satellites and then if you qualify
[25:41] the satellites and then if you qualify obviously the live tournament I probably
[25:43] obviously the live tournament I probably wouldn't have to twist your arm I think
[25:44] wouldn't have to twist your arm I think that's going to be a lot of fun and
[25:46] that's going to be a lot of fun and finally come to class I won't be taking
[25:49] finally come to class I won't be taking attendance but every class is going to
[25:51] attendance but every class is going to build on the other classes and once I
[25:53] build on the other classes and once I get into some of the heavy theory if you
[25:55] get into some of the heavy theory if you miss a class I think it's going to be
[25:58] miss a class I think it's going to be very hard to come to the next class
[25:59] very hard to come to the next class after that okay so we decided to make it
[26:03] after that okay so we decided to make it a little easy for you we're going to
[26:05] a little easy for you we're going to show the movies in here now these are
[26:07] show the movies in here now these are movies you can watch anytime on your own
[26:08] movies you can watch anytime on your own but Friday January 17th this Friday at
[26:11] but Friday January 17th this Friday at 7:30 in this very room using a laptop
[26:14] 7:30 in this very room using a laptop and Netflix we're going to have it not
[26:16] and Netflix we're going to have it not providing food or anything but you know
[26:19] providing food or anything but you know you guys can can do what you want for
[26:21] you guys can can do what you want for that but that's when we're showing the
[26:23] that but that's when we're showing the movie we're gonna have two showings of
[26:25] movie we're gonna have two showings of the all-in movie one will be the day
[26:28] the all-in movie one will be the day after tomorrow at 7:30 in this room I'm
[26:30] after tomorrow at 7:30 in this room I'm probably going to come to that I I can
[26:32] probably going to come to that I I can watch these movies infinite number of
[26:34] watch these movies infinite number of times
[26:34] times and then next Monday its Martin Luther
[26:37] and then next Monday its Martin Luther King Day so we don't have class but if
[26:39] King Day so we don't have class but if anybody wants to come in here and see
[26:41] anybody wants to come in here and see the movie you can come watch it then and
[26:43] the movie you can come watch it then and then obviously these are rounders is
[26:45] then obviously these are rounders is available on Netflix and all in is
[26:48] available on Netflix and all in is available on prime so you can watch
[26:50] available on prime so you can watch these on your own anytime you like now
[26:53] these on your own anytime you like now on January 22nd the wednesday of the
[26:57] on January 22nd the wednesday of the second week we're gonna have a special
[26:58] second week we're gonna have a special guest this is steve Dannemann from
[27:01] guest this is steve Dannemann from Severna Park Maryland
[27:02] Severna Park Maryland he is a self-employed CPA but more
[27:05] he is a self-employed CPA but more interestingly for us in 2005 he came in
[27:08] interestingly for us in 2005 he came in second in the main event he won four and
[27:10] second in the main event he won four and a half million dollars and he also
[27:13] a half million dollars and he also placed fifth in the tournament of
[27:15] placed fifth in the tournament of champions for which he had a really big
[27:17] champions for which he had a really big score as well he is one of the real
[27:20] score as well he is one of the real characters in poker he's on TV a lot
[27:22] characters in poker he's on TV a lot he's absolutely hilarious I've played at
[27:25] he's absolutely hilarious I've played at his house a couple of times I played
[27:26] his house a couple of times I played cash games with him and he's just fun to
[27:29] cash games with him and he's just fun to be around he for a while went on the
[27:31] be around he for a while went on the speaking circuit talking as a
[27:34] speaking circuit talking as a motivational speaker about his
[27:35] motivational speaker about his experience in the World Series he is
[27:37] experience in the World Series he is offered to come speak to you guys for
[27:38] offered to come speak to you guys for half an hour to tell his story of coming
[27:41] half an hour to tell his story of coming in second in the main event and then he
[27:43] in second in the main event and then he said he wants like 10 to 15 minutes of
[27:45] said he wants like 10 to 15 minutes of questions so come listen to him ready to
[27:48] questions so come listen to him ready to ask him questions okay we're almost
[27:51] ask him questions okay we're almost ready to get started with actual poker
[27:53] ready to get started with actual poker as opposed to introductions so let me
[27:56] as opposed to introductions so let me talk about poker there's going to be
[27:59] talk about poker there's going to be math in this class I know there are
[28:01] math in this class I know there are people in this room who are not math
[28:03] people in this room who are not math majors and hoped that they could come to
[28:05] majors and hoped that they could come to school like Hopkins to never have to
[28:07] school like Hopkins to never have to take math again I'm sorry you're going
[28:10] take math again I'm sorry you're going to get some math and the math is mostly
[28:13] to get some math and the math is mostly at a sixth grade level you can do
[28:15] at a sixth grade level you can do addition subtraction multiplication
[28:16] addition subtraction multiplication there is a little bit of probability
[28:18] there is a little bit of probability there's going to be some statistics and
[28:20] there's going to be some statistics and there's going to be combinatorics don't
[28:23] there's going to be combinatorics don't let any of that scare you because
[28:25] let any of that scare you because nowhere in the list of requirements to
[28:27] nowhere in the list of requirements to pass the class that I say you have to
[28:28] pass the class that I say you have to pass a test on combinatorics right you
[28:31] pass a test on combinatorics right you have to play six hours watch the movies
[28:33] have to play six hours watch the movies come to class okay there's going to be
[28:36] come to class okay there's going to be some game theory and I think that going
[28:40] some game theory and I think that going through my slides some of it will seem
[28:42] through my slides some of it will seem really complicated especially in the
[28:44] really complicated especially in the beginning but if you sit through it
[28:47] beginning but if you sit through it I have a lot of repetition and a lot of
[28:49] I have a lot of repetition and a lot of examples so if I give you guys an
[28:50] examples so if I give you guys an example with some math in it and you're
[28:52] example with some math in it and you're like ah you lost me the next hand I'm
[28:55] like ah you lost me the next hand I'm gonna give is going to have the same
[28:56] gonna give is going to have the same thing and maybe by the time I've gone
[28:58] thing and maybe by the time I've gone through a few of them you should all be
[28:59] through a few of them you should all be good with that and please stop and ask
[29:02] good with that and please stop and ask me questions I don't mind at all even in
[29:04] me questions I don't mind at all even in a large class like this I think if if
[29:06] a large class like this I think if if one or two people are lost there's
[29:08] one or two people are lost there's probably other people who are lost as
[29:10] probably other people who are lost as well and it's better for me to know that
[29:11] well and it's better for me to know that than to go on and don't forget to just
[29:15] than to go on and don't forget to just play poker so let me talk a little bit
[29:19] play poker so let me talk a little bit about poker players because there are
[29:21] about poker players because there are different types casual poker player I
[29:26] different types casual poker player I think that would be most people you just
[29:29] think that would be most people you just play poker from time to time
[29:31] play poker from time to time recreational that's the category I would
[29:33] recreational that's the category I would put myself in you play between once a
[29:36] put myself in you play between once a week and once a month and you really
[29:38] week and once a month and you really like poker you would get very
[29:39] like poker you would get very competitive but you have a day job and
[29:41] competitive but you have a day job and poker is a hobby and not your life the
[29:43] poker is a hobby and not your life the next one is a grinder or regular if you
[29:46] next one is a grinder or regular if you play at the Horseshoe Casino downtown
[29:48] play at the Horseshoe Casino downtown and you sit down at a table at least
[29:51] and you sit down at a table at least three-quarters of the people you'll be
[29:52] three-quarters of the people you'll be playing with will be grinders those guys
[29:54] playing with will be grinders those guys they play poker for a living that's what
[29:56] they play poker for a living that's what they do they're eking out ten to fifteen
[29:58] they do they're eking out ten to fifteen dollars an hour they say it's you know
[30:00] dollars an hour they say it's you know the hardest way to make an easy living
[30:02] the hardest way to make an easy living because you're just playing poker and
[30:04] because you're just playing poker and they're very good but they're not very
[30:06] they're very good but they're not very creative and I think I can teach you
[30:09] creative and I think I can teach you guys to beat them pretty regularly but
[30:11] guys to beat them pretty regularly but they're not looking to beat people who
[30:13] they're not looking to beat people who know how to play they're in there
[30:14] know how to play they're in there because they're looking for the
[30:16] because they're looking for the recreational and the casual players to
[30:17] recreational and the casual players to sit down and lose money to them the ones
[30:19] sit down and lose money to them the ones who didn't study the game okay there are
[30:22] who didn't study the game okay there are other types a whale these are some of
[30:26] other types a whale these are some of the things three of these are not things
[30:28] the things three of these are not things you want to be called at the poker table
[30:29] you want to be called at the poker table a whale is you'll see these guys in home
[30:33] a whale is you'll see these guys in home games mostly but they show up in the
[30:34] games mostly but they show up in the casinos too super-rich guy his favorite
[30:37] casinos too super-rich guy his favorite thing in the world is to pull
[30:39] thing in the world is to pull hundred-dollar bills out of his pocket
[30:40] hundred-dollar bills out of his pocket and put him on the table
[30:41] and put him on the table he's playing to be popular not to win
[30:44] he's playing to be popular not to win and he will lose a lot of money and
[30:46] and he will lose a lot of money and that's the guy you won at your table the
[30:49] that's the guy you won at your table the donkey is a bit of a variation a whale
[30:51] donkey is a bit of a variation a whale can be a donkey they often are but a
[30:53] can be a donkey they often are but a donkey is a guy he might even think he's
[30:55] donkey is a guy he might even think he's pretty good but this player is horrible
[30:58] pretty good but this player is horrible right they don't understand the first
[31:00] right they don't understand the first thing of
[31:00] thing of fundamentals they don't understand
[31:02] fundamentals they don't understand anything about what you're supposed to
[31:04] anything about what you're supposed to do and what position is and pot odds and
[31:07] do and what position is and pot odds and any of that they just play a lot of
[31:09] any of that they just play a lot of poker and they're really bad another guy
[31:11] poker and they're really bad another guy you want at your table the fish is
[31:13] you want at your table the fish is another interesting type of player and
[31:15] another interesting type of player and these are all player types if you start
[31:16] these are all player types if you start to play a lot in the casinos you'll see
[31:18] to play a lot in the casinos you'll see these guys and the fish is a guy they're
[31:21] these guys and the fish is a guy they're never aggressive they're just super
[31:23] never aggressive they're just super passive they don't mind calling calling
[31:25] passive they don't mind calling calling putting money in but they never raise
[31:26] putting money in but they never raise and it's very easy to play against them
[31:28] and it's very easy to play against them and then there's a special kind of fish
[31:30] and then there's a special kind of fish called a shark and those are the really
[31:32] called a shark and those are the really super good players and you got to look
[31:34] super good players and you got to look out for those now one of the things
[31:36] out for those now one of the things that's important when you're playing
[31:37] that's important when you're playing poker and you sit down at a table is to
[31:40] poker and you sit down at a table is to figure out for your opponents okay
[31:43] figure out for your opponents okay usually they're gonna be nine people at
[31:44] usually they're gonna be nine people at a table the other eight people you know
[31:48] a table the other eight people you know what are they or is it a whale is a
[31:50] what are they or is it a whale is a shark is a recreational player is it a
[31:53] shark is a recreational player is it a tourist that's going to really give you
[31:55] tourist that's going to really give you a lot of information that you'll use in
[31:57] a lot of information that you'll use in your decision-making later
[31:59] your decision-making later now the poker world is a great social
[32:02] now the poker world is a great social outlet you can have a lot of funs fun
[32:04] outlet you can have a lot of funs fun playing socially with your fence it's
[32:06] playing socially with your fence it's also something you can be really really
[32:08] also something you can be really really competitive at you meet interesting
[32:11] competitive at you meet interesting people I've sat at a poker table in
[32:13] people I've sat at a poker table in Vegas where the guy to my left is the
[32:15] Vegas where the guy to my left is the CEO of a big company and the guide of my
[32:18] CEO of a big company and the guide of my right is a handyman and I can have just
[32:21] right is a handyman and I can have just as interesting conversations and
[32:22] as interesting conversations and afterwards walk away and say a no other
[32:25] afterwards walk away and say a no other experience of my life what I've gotten
[32:27] experience of my life what I've gotten to know these two guys the way I just
[32:28] to know these two guys the way I just got to know them and that's kind of one
[32:30] got to know them and that's kind of one of the fun thing about poker is it's
[32:32] of the fun thing about poker is it's completely egalitarian everybody if you
[32:35] completely egalitarian everybody if you can play poker and you have some money
[32:36] can play poker and you have some money you can play and you can get to know all
[32:38] you can play and you can get to know all kinds of interesting people and then
[32:41] kinds of interesting people and then there's the Chris Moneymaker story Chris
[32:43] there's the Chris Moneymaker story Chris Moneymaker is it is featured right here
[32:46] Moneymaker is it is featured right here I'm gonna tell you a little bit about
[32:48] I'm gonna tell you a little bit about him he really is the guy credited with
[32:52] him he really is the guy credited with turning the poker world around and
[32:53] turning the poker world around and making poker very popular the all-in
[32:56] making poker very popular the all-in poker movie is a documentary about him
[32:58] poker movie is a documentary about him and he has a very very fun name for for
[33:02] and he has a very very fun name for for being this guy and we're gonna talk
[33:04] being this guy and we're gonna talk about him in a minute and I'll tell you
[33:05] about him in a minute and I'll tell you why he's so important after the next bit
[33:09] why he's so important after the next bit so poker on the other hand I should
[33:12] so poker on the other hand I should mention there is a dark side it
[33:14] mention there is a dark side it addictive and even great players can go
[33:18] addictive and even great players can go on losing streaks and people I've seen
[33:20] on losing streaks and people I've seen people playing with their rent money and
[33:22] people playing with their rent money and it's not fun and I usually try to advise
[33:24] it's not fun and I usually try to advise them to walk away and they don't listen
[33:25] them to walk away and they don't listen and sometimes you it brings out the
[33:28] and sometimes you it brings out the worst in people I've been in a casino
[33:30] worst in people I've been in a casino where someone you know I'm a pretty I
[33:32] where someone you know I'm a pretty I try to be pretty nice guy I'm mellow I'm
[33:35] try to be pretty nice guy I'm mellow I'm not aggressive stood up and threatened
[33:37] not aggressive stood up and threatened to physically hurt me and security had
[33:39] to physically hurt me and security had to take them out because he didn't like
[33:40] to take them out because he didn't like a call I made on the river against him
[33:42] a call I made on the river against him and that really happened to me so you
[33:45] and that really happened to me so you know poker does bring out the worst in
[33:46] know poker does bring out the worst in people and the best in people
[33:48] people and the best in people so let me start with a little bit of
[33:52] so let me start with a little bit of kind of the first strategy lesson which
[33:56] kind of the first strategy lesson which is to be the house and what do I mean by
[33:59] is to be the house and what do I mean by that if you play blackjack or craps in a
[34:02] that if you play blackjack or craps in a casino you will never ever win money in
[34:05] casino you will never ever win money in the long run and casinos would not be in
[34:08] the long run and casinos would not be in business if they didn't have an edge
[34:10] business if they didn't have an edge right in blackjack the casino has an
[34:12] right in blackjack the casino has an edge because all the other players act
[34:14] edge because all the other players act first and if you bust the house wins and
[34:16] first and if you bust the house wins and so they know that over time they are
[34:19] so they know that over time they are going to win even if it looks like you
[34:21] going to win even if it looks like you can win a night I know people that tell
[34:22] can win a night I know people that tell me they're really good in blackjack and
[34:25] me they're really good in blackjack and like wow you approach that 49 percent
[34:27] like wow you approach that 49 percent good for you
[34:27] good for you you know you're the house is gonna have
[34:29] you know you're the house is gonna have the edge and so what you want in in
[34:33] the edge and so what you want in in poker is the law of large numbers says
[34:35] poker is the law of large numbers says if you have an edge and you play a lot
[34:37] if you have an edge and you play a lot you will win period right that's what
[34:40] you will win period right that's what keeps casinos in business so your goal
[34:42] keeps casinos in business so your goal in poker is to be the house you want to
[34:45] in poker is to be the house you want to have situations where you have the edge
[34:47] have situations where you have the edge even if it's a 10% edge in a cash game
[34:50] even if it's a 10% edge in a cash game you want to repeat that situation over
[34:53] you want to repeat that situation over and over and how do you get that edge
[34:54] and over and how do you get that edge you learn some skills you learn the
[34:57] you learn some skills you learn the fundamentals and you get a lot of
[34:58] fundamentals and you get a lot of experience and that's one of the reasons
[35:00] experience and that's one of the reasons you want to get to know your other
[35:01] you want to get to know your other players at the table say do I have an
[35:03] players at the table say do I have an edge against this player when I sit down
[35:05] edge against this player when I sit down in a two-five game in a casino and I'll
[35:07] in a two-five game in a casino and I'll explain what that is in a minute and I
[35:09] explain what that is in a minute and I see that the other players are all much
[35:12] see that the other players are all much better than me and I can tell after a
[35:14] better than me and I can tell after a very short amount of time these are
[35:15] very short amount of time these are really good players I just walk away I
[35:18] really good players I just walk away I don't have an edge these guys are gonna
[35:19] don't have an edge these guys are gonna crush me go for a table where you've got
[35:22] crush me go for a table where you've got you know the donkey's the whales etc
[35:25] you know the donkey's the whales etc we're going to learn a lot of jargon and
[35:28] we're going to learn a lot of jargon and the
[35:28] the course you're gonna I probably already
[35:30] course you're gonna I probably already used some words that you didn't know and
[35:32] used some words that you didn't know and here are on the board are some of the
[35:33] here are on the board are some of the things drawing dead the nuts in position
[35:36] things drawing dead the nuts in position out of positions bad be by the time this
[35:39] out of positions bad be by the time this course is over you're gonna know all of
[35:40] course is over you're gonna know all of these and then some a bad beat is where
[35:44] these and then some a bad beat is where you're ahead in a hand and you get all
[35:46] you're ahead in a hand and you get all the money in and you're way ahead and
[35:48] the money in and you're way ahead and there are only two cards in the deck
[35:50] there are only two cards in the deck that your opponent can hit to beat you
[35:52] that your opponent can hit to beat you and of course that card comes and they
[35:54] and of course that card comes and they beat you and you just suffered a bad
[35:55] beat you and you just suffered a bad beat and here's a life pro tip that it
[35:59] beat and here's a life pro tip that it is a lot more fun to tell someone you're
[36:00] is a lot more fun to tell someone you're bad beat story than it is to hear them
[36:02] bad beat story than it is to hear them you can ask my wife about that it is not
[36:06] you can ask my wife about that it is not fun to listen so they're even at the at
[36:10] fun to listen so they're even at the at the World Series they set up this bad
[36:11] the World Series they set up this bad beat booth and you can pay ten dollars
[36:13] beat booth and you can pay ten dollars and they'll listen to your bad beat
[36:14] and they'll listen to your bad beat story and you tell them what went wrong
[36:18] story and you tell them what went wrong okay so we're ready to learn about poker
[36:22] okay so we're ready to learn about poker here we have hand rankings this slide is
[36:25] here we have hand rankings this slide is really only going to help those that
[36:26] really only going to help those that raise their hand saying you've never
[36:28] raise their hand saying you've never played poker before so in poker you're
[36:31] played poker before so in poker you're going to have a five card hand and
[36:35] going to have a five card hand and nothing excites me more than sitting
[36:37] nothing excites me more than sitting down at a cash poker game in a casino
[36:39] down at a cash poker game in a casino and seeing somebody show up with a
[36:41] and seeing somebody show up with a printout of this and they're looking at
[36:43] printout of this and they're looking at it so high card is basically you don't
[36:48] it so high card is basically you don't have anything in your hand except the
[36:49] have anything in your hand except the highest card that's in your hand so if
[36:51] highest card that's in your hand so if you look at this hand here this is an
[36:53] you look at this hand here this is an ace high hand next we have a pair so you
[36:58] ace high hand next we have a pair so you have one pair and really nothing else
[37:00] have one pair and really nothing else that's better than a high card hand each
[37:02] that's better than a high card hand each one of these is going to be
[37:03] one of these is going to be progressively better so two pair is you
[37:07] progressively better so two pair is you have kings and sixes here so out of the
[37:09] have kings and sixes here so out of the five cards you have two pairs next is
[37:13] five cards you have two pairs next is three of a kind then you have a straight
[37:16] three of a kind then you have a straight a straight is where your cards are
[37:18] a straight is where your cards are consecutive and you ace as low or high
[37:21] consecutive and you ace as low or high but it can't be both so you can't go
[37:23] but it can't be both so you can't go King ace two three four but you can go
[37:25] King ace two three four but you can go ace two three four five you can go ten
[37:27] ace two three four five you can go ten Jack Queen King ace or any five cards
[37:30] Jack Queen King ace or any five cards that are in a row is a straight a flush
[37:33] that are in a row is a straight a flush is when all your cards are the same suit
[37:36] is when all your cards are the same suit I suppose I don't have to start with the
[37:38] I suppose I don't have to start with the basics there's 52 cards four suits I'm
[37:40] basics there's 52 cards four suits I'm going to assume one
[37:42] going to assume one that you guys all know full house is you
[37:45] that you guys all know full house is you have three of a kind and a pair in your
[37:47] have three of a kind and a pair in your hand
[37:48] hand that's better than a flush and then four
[37:51] that's better than a flush and then four of a kind is where you have four cards
[37:53] of a kind is where you have four cards that are all the same and another card
[37:56] that are all the same and another card in this case it's a nice but any other
[37:57] in this case it's a nice but any other card that's a pretty good hand you're
[37:59] card that's a pretty good hand you're almost never going to lose with that one
[38:00] almost never going to lose with that one a straight flush though will beat that
[38:03] a straight flush though will beat that and that's where all your cards are in a
[38:05] and that's where all your cards are in a row you have a straight but they're also
[38:07] row you have a straight but they're also the same suit so you have a straight
[38:09] the same suit so you have a straight flush that's the best possible hand in
[38:11] flush that's the best possible hand in poker and above that is just the best
[38:13] poker and above that is just the best straight flush which is a royal flush so
[38:16] straight flush which is a royal flush so these are this is something you're going
[38:18] these are this is something you're going to have to memorize if you're not
[38:19] to have to memorize if you're not familiar with it then you should print
[38:22] familiar with it then you should print out the slide after I post them and then
[38:24] out the slide after I post them and then use it when you play now Texas Hold'em
[38:27] use it when you play now Texas Hold'em is a variant of Poker it's the most
[38:30] is a variant of Poker it's the most popular game in the world right now the
[38:34] popular game in the world right now the most popular poker game anyway so each
[38:37] most popular poker game anyway so each player is dealt two cards facedown so
[38:40] player is dealt two cards facedown so you get to see your two cards but no one
[38:42] you get to see your two cards but no one else gets to see them and you look at
[38:44] else gets to see them and you look at your cards and then there's a round of
[38:45] your cards and then there's a round of betting the next thing that happens is
[38:48] betting the next thing that happens is three community cards are dealt face-up
[38:50] three community cards are dealt face-up in the middle of the board and now you
[38:53] in the middle of the board and now you know that those cards are potential
[38:55] know that those cards are potential cards for your hand so you have the two
[38:57] cards for your hand so you have the two cards that are in your hand and the
[38:59] cards that are in your hand and the three cards that are on the board so far
[39:01] three cards that are on the board so far you've seen five cards so that could be
[39:03] you've seen five cards so that could be your hand but they're going to be two
[39:05] your hand but they're going to be two more cards there's another card that's
[39:08] more cards there's another card that's called the turn so now there are four
[39:10] called the turn so now there are four cards on the board and you've got two
[39:12] cards on the board and you've got two cards in your hand and so you have six
[39:14] cards in your hand and so you have six cards from which you're going to choose
[39:15] cards from which you're going to choose the best five and then one more card is
[39:19] the best five and then one more card is dealt and that's the river and there's
[39:21] dealt and that's the river and there's another round of betting and now the
[39:23] another round of betting and now the hand is over so you take we could see an
[39:26] hand is over so you take we could see an example up here there five cards on the
[39:28] example up here there five cards on the board these three came first one player
[39:31] board these three came first one player had king queen and the other had ten
[39:33] had king queen and the other had ten Jack when the flop came these three
[39:36] Jack when the flop came these three cards the player with ten jack flopped
[39:39] cards the player with ten jack flopped to pair you see that because he's got
[39:41] to pair you see that because he's got two tens and two jacks when he combines
[39:43] two tens and two jacks when he combines his two cards with the boards five cards
[39:46] his two cards with the boards five cards and the other player flopped what's
[39:48] and the other player flopped what's called an open-ended straight draw what
[39:50] called an open-ended straight draw what do I mean by that a draw means that you
[39:53] do I mean by that a draw means that you there's still cards to come
[39:55] there's still cards to come you hope to draw that is when one of
[39:57] you hope to draw that is when one of those cards comes it will give you a
[39:59] those cards comes it will give you a better hand and so if we look at the
[40:01] better hand and so if we look at the flop in this example 10 Jack deuce and
[40:04] flop in this example 10 Jack deuce and King Queen it's got more than just a
[40:08] King Queen it's got more than just a straight draw he's also got a hard draw
[40:10] straight draw he's also got a hard draw right because any card that comes that
[40:13] right because any card that comes that is an ace a 9 or a heart will give him a
[40:17] is an ace a 9 or a heart will give him a really super strong hand does anybody
[40:20] really super strong hand does anybody that doesn't see that okay so on the
[40:22] that doesn't see that okay so on the turn came the 9 which gave him a
[40:25] turn came the 9 which gave him a straight he still has two pair and then
[40:29] straight he still has two pair and then on the river came a six and so the king
[40:33] on the river came a six and so the king queen would have won this hand with a
[40:35] queen would have won this hand with a straight so we're gonna look at like
[40:37] straight so we're gonna look at like five or six examples like that of
[40:39] five or six examples like that of different hands and so you play the best
[40:44] different hands and so you play the best five cards so I want to do a little quiz
[40:47] five cards so I want to do a little quiz with you guys I want you to look at this
[40:50] with you guys I want you to look at this and when you have determined who wins
[40:54] and when you have determined who wins raise your hands so that I see it and
[40:57] raise your hands so that I see it and once like if I not at you you can put
[40:58] once like if I not at you you can put your hand down one way to do this is to
[41:01] your hand down one way to do this is to look at the top four see which is the
[41:03] look at the top four see which is the best hand look at the bottom four see
[41:05] best hand look at the bottom four see which is the best hand and then take the
[41:07] which is the best hand and then take the best hand out of that so I'm looking at
[41:10] best hand out of that so I'm looking at you guys to see when somebody tells me
[41:12] you guys to see when somebody tells me they have an idea okay okay
[41:16] they have an idea okay okay so I'm gonna need to come up I saw I
[41:20] so I'm gonna need to come up I saw I think most of the hands went up at some
[41:21] think most of the hands went up at some point I think I've never taught this
[41:23] point I think I've never taught this video class I'm gonna have to figure out
[41:25] video class I'm gonna have to figure out a way to let people talk and then to
[41:27] a way to let people talk and then to like cut it off because there's a lot of
[41:28] like cut it off because there's a lot of people talking so let's kind of go
[41:31] people talking so let's kind of go through this together first I want to
[41:34] through this together first I want to ask for if somebody wants to volunteer
[41:36] ask for if somebody wants to volunteer to tell the class which is the best hand
[41:38] to tell the class which is the best hand and why okay okay so the comment was
[41:47] and why okay okay so the comment was seat seven because they have a full
[41:48] seat seven because they have a full house does everybody agree with that yes
[41:51] house does everybody agree with that yes now the question is on this one don't
[41:55] now the question is on this one don't talk to each other but you've already
[41:57] talk to each other but you've already looked at this for a while who has the
[41:59] looked at this for a while who has the second best hand and let me ask you guys
[42:03] second best hand and let me ask you guys does anybody think it's c1
[42:07] so this is a little tricky right Siwon
[42:10] so this is a little tricky right Siwon has two pair but so does seat nine right
[42:15] has two pair but so does seat nine right c9 has aces and twos and the Aces are
[42:20] c9 has aces and twos and the Aces are higher than the ten so in this case the
[42:23] higher than the ten so in this case the Aces in twos is better than the tens and
[42:25] Aces in twos is better than the tens and sixes everybody see that so the best
[42:29] sixes everybody see that so the best hand is the full house and the second
[42:31] hand is the full house and the second best is aces and twos okay now what is
[42:36] best is aces and twos okay now what is the best possible hand just look at the
[42:39] the best possible hand just look at the board don't look at the hands that
[42:41] board don't look at the hands that people have and this is always an
[42:43] people have and this is always an important question to ask yourself and
[42:45] important question to ask yourself and the reason is that if you have a full
[42:48] the reason is that if you have a full house are you willing to put all your
[42:50] house are you willing to put all your money in the middle you need to note if
[42:52] money in the middle you need to note if you have the best possible hand so give
[42:56] you have the best possible hand so give give this a look and let me see hands if
[42:58] give this a look and let me see hands if you have an idea of who what the best
[43:01] you have an idea of who what the best possible hand here is okay so do I have
[43:04] possible hand here is okay so do I have a volunteer to tell the class right
[43:06] a volunteer to tell the class right there quad twos right so if somebody has
[43:10] there quad twos right so if somebody has two twos in their hand they have the
[43:13] two twos in their hand they have the best possible hand and this is in
[43:16] best possible hand and this is in general when you have a pair on the
[43:17] general when you have a pair on the board the best possible hand is four of
[43:20] board the best possible hand is four of a kind right you could have the same two
[43:23] a kind right you could have the same two cards in your hand and then you have a
[43:25] cards in your hand and then you have a four of a kind now look at this and try
[43:27] four of a kind now look at this and try to determine what is the second best
[43:29] to determine what is the second best possible hand that somebody could have
[43:35] so the problem is you only get two cards
[43:38] so the problem is you only get two cards so yeah yes a flush with space I think
[43:46] so yeah yes a flush with space I think we can beat that yes in the back pocket
[43:50] we can beat that yes in the back pocket tens right if you have pocket tens now
[43:53] tens right if you have pocket tens now you have three tens and two twos so you
[43:56] you have three tens and two twos so you have a full house right now here's
[44:00] have a full house right now here's another question entirely and this is
[44:02] another question entirely and this is where you start to see that poker can be
[44:04] where you start to see that poker can be really interesting
[44:06] really interesting who would have likely won the hand that
[44:09] who would have likely won the hand that don't show me hands because this is
[44:10] don't show me hands because this is completely subjective and I'll tell you
[44:12] completely subjective and I'll tell you my opinion but different players will
[44:14] my opinion but different players will disagree about this so the question is
[44:18] disagree about this so the question is who would have likely won this hand
[44:20] who would have likely won this hand if this were played out and the first
[44:23] if this were played out and the first answer is I did not give you enough
[44:24] answer is I did not give you enough information I didn't tell you how much
[44:26] information I didn't tell you how much money they're playing how the betting
[44:28] money they're playing how the betting went blah blah blah blah blah but even
[44:30] went blah blah blah blah blah but even so even with lack of information I can
[44:33] so even with lack of information I can almost assure you that the nines which
[44:35] almost assure you that the nines which have the best hand would not have won
[44:37] have the best hand would not have won this hand and the reason is they never
[44:40] this hand and the reason is they never would have seen the river right we would
[44:42] would have seen the river right we would have seen a flop and if it's ten deuce
[44:46] have seen a flop and if it's ten deuce ten the aces would have probably bet the
[44:49] ten the aces would have probably bet the ten six would have probably called right
[44:51] ten six would have probably called right those two guys have really good hands on
[44:53] those two guys have really good hands on that flop nobody else has much of
[44:56] that flop nobody else has much of anything on the flop and so the nines
[44:59] anything on the flop and so the nines with the 10 out there worried that
[45:00] with the 10 out there worried that someone else might have a ten would
[45:02] someone else might have a ten would probably fold on the turn the nines
[45:06] probably fold on the turn the nines would surely have folded if there was
[45:08] would surely have folded if there was some bedding and so it's important to
[45:10] some bedding and so it's important to look at a hand as to what would have
[45:11] look at a hand as to what would have really happened not just who has the
[45:13] really happened not just who has the best hand okay I have one other slide
[45:18] best hand okay I have one other slide like this asking who would win this one
[45:20] like this asking who would win this one this one's a little tricky so take some
[45:23] this one's a little tricky so take some time I'm gonna take a chance and let you
[45:25] time I'm gonna take a chance and let you talk to your neighbor but when I cut it
[45:26] talk to your neighbor but when I cut it off stop talking right away so go ahead
[45:30] off stop talking right away so go ahead and try to figure out who wins this and
[45:32] and try to figure out who wins this and talk to your neighbor okay I saw enough
[45:35] talk to your neighbor okay I saw enough hands out I'll cut it off here do I have
[45:39] hands out I'll cut it off here do I have a volunteer who wants to tell the class
[45:41] a volunteer who wants to tell the class who has the best hand here
[45:42] who has the best hand here yes seat 9 and seat 7 tied why that's
[45:54] yes seat 9 and seat 7 tied why that's right so the idea is the best hand is
[45:57] right so the idea is the best hand is your five cards and c9 has queens and
[46:01] your five cards and c9 has queens and eights with an ace the seven and the
[46:03] eights with an ace the seven and the three don't play in every seven card
[46:05] three don't play in every seven card hand you have to say two of the cards
[46:07] hand you have to say two of the cards aren't going to play and seat seven even
[46:10] aren't going to play and seat seven even though he has a better card with his ace
[46:11] though he has a better card with his ace he doesn't get to use it because his
[46:14] he doesn't get to use it because his hand is Queens and eights with an ace
[46:16] hand is Queens and eights with an ace and so this is called a chop a chop pot
[46:19] and so this is called a chop a chop pot with two hands are equivalent this is
[46:22] with two hands are equivalent this is really bad luck for seat seven because
[46:24] really bad luck for seat seven because seat seven started the hand with a huge
[46:26] seat seven started the hand with a huge lead over seat nine in fact we say that
[46:29] lead over seat nine in fact we say that he dominated him because he had one card
[46:31] he dominated him because he had one card in common and one card that was bigger
[46:32] in common and one card that was bigger than the other
[46:33] than the other second card but once that river came
[46:36] second card but once that river came with that last 8 they ended up with
[46:38] with that last 8 they ended up with exactly the same hand is there anybody
[46:40] exactly the same hand is there anybody that doesn't see that so you can have
[46:43] that doesn't see that so you can have ties in poker if you have the same
[46:46] ties in poker if you have the same five-card hand then you will split the
[46:48] five-card hand then you will split the pot okay now same question I asked
[46:52] pot okay now same question I asked before what's the best possible hand
[46:54] before what's the best possible hand this is a really really easy one based
[46:57] this is a really really easy one based on what we've done so far yes pocket
[46:59] on what we've done so far yes pocket queens right four of a kind and what's
[47:02] queens right four of a kind and what's going to happen to someone if one person
[47:05] going to happen to someone if one person has pocket queens and the other person
[47:06] has pocket queens and the other person has pocket eights bad beat story we
[47:11] has pocket eights bad beat story we don't want to hear it
[47:13] don't want to hear it okay now let me tell you about two big
[47:16] okay now let me tell you about two big types of straight draws these are going
[47:19] types of straight draws these are going to come up a lot we have what's called
[47:22] to come up a lot we have what's called the double you came and say it the
[47:24] the double you came and say it the double belly-buster
[47:26] double belly-buster you will sit at a poker someday and hear
[47:29] you will sit at a poker someday and hear somebody say I had a double belly Buster
[47:31] somebody say I had a double belly Buster and you'll be able to say I took poker
[47:33] and you'll be able to say I took poker at Hopkins I know what that is so the
[47:36] at Hopkins I know what that is so the idea is that two different cards will
[47:39] idea is that two different cards will give you a straight let's say that you
[47:41] give you a straight let's say that you have six seven and the flop is five nine
[47:45] have six seven and the flop is five nine three okay you have yourself a double
[47:49] three okay you have yourself a double belly Buster and why is that because
[47:52] belly Buster and why is that because there are two card ranks a rank is just
[47:55] there are two card ranks a rank is just the level of the of the card like a four
[47:56] the level of the of the card like a four is the rank for eight different cards in
[47:59] is the rank for eight different cards in the deck that will give you a straight
[48:01] the deck that will give you a straight any four or any eight now it takes a
[48:04] any four or any eight now it takes a little bit of practice to recognize this
[48:06] little bit of practice to recognize this most people who are just starting out
[48:08] most people who are just starting out would look at this and they might see
[48:10] would look at this and they might see the eight I think the eight is more
[48:12] the eight I think the eight is more obvious than the four but if you look at
[48:14] obvious than the four but if you look at this if a four comes on the turn you're
[48:17] this if a four comes on the turn you're gonna have three four five six seven so
[48:19] gonna have three four five six seven so that's a straight right and if an eight
[48:22] that's a straight right and if an eight comes you're gonna have five six seven
[48:24] comes you're gonna have five six seven eight nine so this is important to keep
[48:27] eight nine so this is important to keep in mind that you have eight cards that
[48:31] in mind that you have eight cards that can give you a straight in the they're
[48:32] can give you a straight in the they're eight cards out of the remaining cards
[48:34] eight cards out of the remaining cards in the deck that can give you a straight
[48:35] in the deck that can give you a straight right now this is going to be well
[48:39] right now this is going to be well disguised if you hit it and something to
[48:41] disguised if you hit it and something to think about in poker is is your hand
[48:43] think about in poker is is your hand obvious or is it well disguised remember
[48:45] obvious or is it well disguised remember a few a minute ago we had a
[48:47] a few a minute ago we had a bored with two queens and two eights and
[48:50] bored with two queens and two eights and you're not let's say you have a queen in
[48:52] you're not let's say you have a queen in your hand or two queens in your hand
[48:54] your hand or two queens in your hand you're not going to get paid because
[48:56] you're not going to get paid because it's very unlikely someone's gonna call
[48:58] it's very unlikely someone's gonna call you when the board is so scary two
[49:00] you when the board is so scary two queens two eights and if you have even a
[49:03] queens two eights and if you have even a straight there you know that anyone with
[49:04] straight there you know that anyone with a queen or an eight has a full house
[49:05] a queen or an eight has a full house whereas in this board if a four were to
[49:08] whereas in this board if a four were to come on the turn you're gonna have a
[49:11] come on the turn you're gonna have a straight but it's not gonna look like
[49:12] straight but it's not gonna look like you have anything so the more disguised
[49:14] you have anything so the more disguised your hand is the stronger it is in terms
[49:16] your hand is the stronger it is in terms of getting paid let's contrast that with
[49:19] of getting paid let's contrast that with an open-ended straight draw which is the
[49:20] an open-ended straight draw which is the other kind of straight draw so let's say
[49:23] other kind of straight draw so let's say that you have ten jack and the flop is
[49:26] that you have ten jack and the flop is nine Queen deuce so you have a straight
[49:30] nine Queen deuce so you have a straight draw because either a king or an eight
[49:33] draw because either a king or an eight will give you a straight right but if
[49:35] will give you a straight right but if that King comes or if that a comes the
[49:39] that King comes or if that a comes the board is gonna look very straight E
[49:40] board is gonna look very straight E right this is gonna look a lot scarier
[49:42] right this is gonna look a lot scarier especially if the cards are high and the
[49:44] especially if the cards are high and the reason that high cards matter is that
[49:46] reason that high cards matter is that people will usually assume that you're
[49:48] people will usually assume that you're playing with higher cards because you're
[49:50] playing with higher cards because you're folding your lower cards so let me pull
[49:54] folding your lower cards so let me pull in some useful and cool facts one thing
[49:57] in some useful and cool facts one thing that's really cool about these is that
[49:58] that's really cool about these is that many of them I think are known to pretty
[50:02] many of them I think are known to pretty regular experienced players but some of
[50:04] regular experienced players but some of them are not so you cannot make a full
[50:07] them are not so you cannot make a full house or better without a pair on the
[50:09] house or better without a pair on the board so if you're looking at the five
[50:11] board so if you're looking at the five cards on the river and none of them are
[50:13] cards on the river and none of them are paired you don't have to worry about
[50:15] paired you don't have to worry about somebody having a full house you can't
[50:18] somebody having a full house you can't make a flush without three of a suit on
[50:20] make a flush without three of a suit on the board right because you only have
[50:22] the board right because you only have two cards and so in order to make a
[50:24] two cards and so in order to make a flush you have to have three of a suit
[50:25] flush you have to have three of a suit which means that if you have a straight
[50:27] which means that if you have a straight and on the board there's no pair and you
[50:31] and on the board there's no pair and you don't have three of a suit your
[50:33] don't have three of a suit your straights probably good what what could
[50:36] straights probably good what what could you lose too though
[50:38] you lose too though let's see a hand if you have an idea
[50:40] let's see a hand if you have an idea what you could lose - yes a higher
[50:42] what you could lose - yes a higher straight B where what's called the idiot
[50:44] straight B where what's called the idiot end of the straight okay so if the board
[50:47] end of the straight okay so if the board is four five six and you have two three
[50:51] is four five six and you have two three you've got a straight but you've got the
[50:53] you've got a straight but you've got the idiot end because somebody could have
[50:55] idiot end because somebody could have the higher end and then you're gonna
[50:56] the higher end and then you're gonna lose a lot of money straights can be
[51:00] lose a lot of money straights can be tricky to identify
[51:01] tricky to identify and furthermore very few boards that
[51:04] and furthermore very few boards that don't have a pair on them can't have a
[51:05] don't have a pair on them can't have a straight you can come up with a board
[51:08] straight you can come up with a board that doesn't have a straight but most of
[51:09] that doesn't have a straight but most of the time a straight as possible so that
[51:12] the time a straight as possible so that what does I mean if you have three of a
[51:13] what does I mean if you have three of a kind or two pair you always have to
[51:16] kind or two pair you always have to consider could it could my opponent have
[51:18] consider could it could my opponent have a straight but you cannot have a
[51:21] a straight but you cannot have a straight without a five or a ten this is
[51:23] straight without a five or a ten this is one of those things that I think even
[51:25] one of those things that I think even very experienced players don't consider
[51:26] very experienced players don't consider and if you think about it it makes sense
[51:28] and if you think about it it makes sense because the cards go from Ace to King
[51:31] because the cards go from Ace to King right let's take a says low or from - to
[51:34] right let's take a says low or from - to ASA faces high and a straight is five in
[51:37] ASA faces high and a straight is five in a row so imagine a continuum that you
[51:39] a row so imagine a continuum that you have written out all of the cards on a
[51:41] have written out all of the cards on a continuum from two up to ace and you had
[51:44] continuum from two up to ace and you had to put five in a row and you got to
[51:46] to put five in a row and you got to slide it wherever you wanted at the very
[51:48] slide it wherever you wanted at the very high end you're gonna go ace down to ten
[51:50] high end you're gonna go ace down to ten you're gonna have a ten and at the very
[51:52] you're gonna have a ten and at the very low end you're gonna go ace up to five
[51:54] low end you're gonna go ace up to five and there's nowhere in the middle that
[51:56] and there's nowhere in the middle that you can put those five without hitting
[51:58] you can put those five without hitting either the five or the ten one of the
[52:01] either the five or the ten one of the things like where you can use this just
[52:04] things like where you can use this just say that you have a pair of tens in your
[52:05] say that you have a pair of tens in your pocket and you're worried and and a and
[52:09] pocket and you're worried and and a and you're worried that you know your
[52:10] you're worried that you know your opponent might have a straight you know
[52:12] opponent might have a straight you know that if they have high cards they're a
[52:14] that if they have high cards they're a lot less likely to have a straight if
[52:15] lot less likely to have a straight if you've got pocket tens because there's
[52:17] you've got pocket tens because there's only two more 10s on the deck and they
[52:19] only two more 10s on the deck and they have to have a 10 to have a straight
[52:20] have to have a 10 to have a straight they might have a 5 but you can maybe
[52:22] they might have a 5 but you can maybe rule out the 5 in that situation based
[52:25] rule out the 5 in that situation based on the bedding here's another fact this
[52:28] on the bedding here's another fact this is something that can save you a lot of
[52:30] is something that can save you a lot of money
[52:30] money bottom-2 pair is vulnerable and I'm
[52:33] bottom-2 pair is vulnerable and I'm going to show you an example of this but
[52:36] going to show you an example of this but if you have bottom two pair imagine that
[52:40] if you have bottom two pair imagine that the board is seven eight king and you've
[52:43] the board is seven eight king and you've got seven eight right so you've got two
[52:45] got seven eight right so you've got two pair normally that's a great flop but
[52:47] pair normally that's a great flop but what happens if another King comes on
[52:49] what happens if another King comes on the turn now the kings are paired and
[52:53] the turn now the kings are paired and you've got the kings and eighths but you
[52:54] you've got the kings and eighths but you no longer have a pair of sevens and now
[52:56] no longer have a pair of sevens and now anybody else with a higher pair than
[52:57] anybody else with a higher pair than your eights has you beat because there
[52:59] your eights has you beat because there are two kings on the board and if you
[53:00] are two kings on the board and if you didn't follow that because I know some
[53:02] didn't follow that because I know some people are visual I'll show you an
[53:03] people are visual I'll show you an example of that let me ask a question
[53:07] example of that let me ask a question under what circumstances is your full
[53:11] under what circumstances is your full house the best possible hand
[53:13] house the best possible hand so remember we said that if there are
[53:16] so remember we said that if there are two queens on the board then quad Queens
[53:20] two queens on the board then quad Queens are the best hand possible and you also
[53:22] are the best hand possible and you also can't have a full house without there
[53:23] can't have a full house without there being a pair on the board so let's say
[53:26] being a pair on the board so let's say that you have a full house and there are
[53:29] that you have a full house and there are times when you know that you have the
[53:31] times when you know that you have the best possible hand so I'm gonna give you
[53:35] best possible hand so I'm gonna give you a minute to talk to your neighbor and
[53:36] a minute to talk to your neighbor and then we'll see if you guys get it raise
[53:39] then we'll see if you guys get it raise your hand I want to see like how many
[53:41] your hand I want to see like how many people solve this so go ahead
[53:44] people solve this so go ahead yes very good
[53:46] yes very good so if there's a pair on the board let's
[53:50] so if there's a pair on the board let's say there's a pair of Queens and your
[53:51] say there's a pair of Queens and your thought your full house involves you
[53:53] thought your full house involves you having a queen nobody can have two
[53:56] having a queen nobody can have two Queens so if you have the high pair on
[53:59] Queens so if you have the high pair on the board then you know that you can
[54:01] the board then you know that you can have the best possible hand everybody
[54:03] have the best possible hand everybody follow that the only if you have the
[54:06] follow that the only if you have the best possible full house the only way
[54:09] best possible full house the only way that you know for a fact that nobody has
[54:11] that you know for a fact that nobody has quads is if you have another one of the
[54:13] quads is if you have another one of the card that's the pair on the board right
[54:16] card that's the pair on the board right and then nobody can have a better hand
[54:17] and then nobody can have a better hand than you okay so let me show you now
[54:21] than you okay so let me show you now let's walk through a hand this is going
[54:26] let's walk through a hand this is going to in the survey I asked you guys how
[54:28] to in the survey I asked you guys how many of you knew what counterfeiting was
[54:29] many of you knew what counterfeiting was and I only saw like three or four hands
[54:31] and I only saw like three or four hands so I feel like I'm actually going to
[54:32] so I feel like I'm actually going to teach something now we're going to look
[54:36] teach something now we're going to look at a hand here where we see two of the
[54:38] at a hand here where we see two of the players cards one has ten seven and the
[54:42] players cards one has ten seven and the other has a pair of Queens right the
[54:45] other has a pair of Queens right the flop comes jack seven ten and that's a
[54:50] flop comes jack seven ten and that's a great flop for the player with ten seven
[54:53] great flop for the player with ten seven ten right because they flop two pair but
[54:56] ten right because they flop two pair but remember I said bottom two pair is
[54:57] remember I said bottom two pair is vulnerable if the turn comes like this a
[55:01] vulnerable if the turn comes like this a jack
[55:02] jack now who has the best hand the Queen's
[55:05] now who has the best hand the Queen's because his hand is queens and Jack's
[55:07] because his hand is queens and Jack's and the other guys is sevens and 10s and
[55:10] and the other guys is sevens and 10s and queens and Jack's is better than sevens
[55:12] queens and Jack's is better than sevens and tents so when you flop bottom two
[55:15] and tents so when you flop bottom two you should be happy but like worried
[55:17] you should be happy but like worried okay all right let me look at there are
[55:20] okay all right let me look at there are different ways that you can have your
[55:21] different ways that you can have your hand counterfeited here's a really cool
[55:23] hand counterfeited here's a really cool one so let's say that you've got a pair
[55:25] one so let's say that you've got a pair of six and the other
[55:27] of six and the other player has ace queen both of these are I
[55:29] player has ace queen both of these are I would consider playable hands in general
[55:31] would consider playable hands in general and the flop comes 99 King who's got the
[55:35] and the flop comes 99 King who's got the best hand right now
[55:37] best hand right now sixes right because he has two pair I'm
[55:41] sixes right because he has two pair I'm so yeah he has two pair and the ace
[55:42] so yeah he has two pair and the ace queen is just a sigh and now the sixes
[55:48] queen is just a sigh and now the sixes are still ahead right if we were to stop
[55:51] are still ahead right if we were to stop the hand here and you had to pick your
[55:52] the hand here and you had to pick your best five cards the sixes would have two
[55:55] best five cards the sixes would have two pair and the ace Queen wouldn't have one
[55:56] pair and the ace Queen wouldn't have one pair and now a Jack comes oops
[56:02] pair and now a Jack comes oops the six is now what is his hand he's
[56:07] the six is now what is his hand he's playing the board right playing the
[56:09] playing the board right playing the board is an expression for your two
[56:11] board is an expression for your two cards are the two that aren't counting
[56:13] cards are the two that aren't counting so the ace Queen has an ace that plays
[56:15] so the ace Queen has an ace that plays so his hands is Jack's and nines with an
[56:18] so his hands is Jack's and nines with an ace and the other guy has no hand okay
[56:24] ace and the other guy has no hand okay now let's look at an example with an
[56:27] now let's look at an example with an action turn card so I'm slowly building
[56:30] action turn card so I'm slowly building up to you to get to the fundamentals
[56:33] up to you to get to the fundamentals we're just doing the mechanics right now
[56:34] we're just doing the mechanics right now and I'm not showing you betting yet just
[56:37] and I'm not showing you betting yet just trying to get a feel for four hands
[56:39] trying to get a feel for four hands let's say that crazy situation and these
[56:44] let's say that crazy situation and these are the hands that are dealt to everyone
[56:46] are the hands that are dealt to everyone at the table the reason I say it's a
[56:48] at the table the reason I say it's a crazy situation is very rarely do so
[56:51] crazy situation is very rarely do so many good hands get dealt on the same
[56:53] many good hands get dealt on the same hand we're gonna look at probabilities
[56:55] hand we're gonna look at probabilities later in the course and see that you're
[56:57] later in the course and see that you're only going to be dealt a pair one in 17
[56:59] only going to be dealt a pair one in 17 times so it's very unlikely that a bunch
[57:02] times so it's very unlikely that a bunch of people will all have a pair at the
[57:04] of people will all have a pair at the table at the same time so let's see here
[57:07] table at the same time so let's see here this guy got a pair of jacks that's a
[57:09] this guy got a pair of jacks that's a decent hand this guy has a stack 5 8 etc
[57:12] decent hand this guy has a stack 5 8 etc we can see what all the hands are this
[57:15] we can see what all the hands are this guy has a particularly strong hand this
[57:17] guy has a particularly strong hand this guy has the third possible best hand
[57:19] guy has the third possible best hand this is a garbage hand and that's kind
[57:22] this is a garbage hand and that's kind of where we're at right so let's say
[57:24] of where we're at right so let's say that the first thing that happens is
[57:25] that the first thing that happens is there's some bedding and the tenders
[57:27] there's some bedding and the tenders folds because he should fold and now
[57:31] folds because he should fold and now let's see what happens on the flop the
[57:34] let's see what happens on the flop the flop comes 5 8 3 this is a
[57:38] flop comes 5 8 3 this is a technical term for this is crazy action
[57:40] technical term for this is crazy action flop let's see why the jacks they
[57:44] flop let's see why the jacks they flopped an overpair right they have a
[57:47] flopped an overpair right they have a pair above the board it's always a good
[57:49] pair above the board it's always a good thing to have it's an over pair this guy
[57:51] thing to have it's an over pair this guy not much going on he has an ace this guy
[57:54] not much going on he has an ace this guy flopped two pair that's pretty good it's
[57:56] flopped two pair that's pretty good it's not even bottom two he's got top pair
[57:57] not even bottom two he's got top pair and middle pair its top - that's good he
[58:01] and middle pair its top - that's good he flopped an open-ended straight draw
[58:03] flopped an open-ended straight draw right five six seven eight that means
[58:06] right five six seven eight that means that any four or any nine is going to
[58:09] that any four or any nine is going to give him a straight this guy has a pair
[58:13] give him a straight this guy has a pair of fours not much going on he flopped a
[58:16] of fours not much going on he flopped a pretty strong hand because any heart
[58:18] pretty strong hand because any heart will give him a flush so he's got a
[58:20] will give him a flush so he's got a flush draw but he's also got too large
[58:22] flush draw but he's also got too large over cards to the board meaning any Ace
[58:25] over cards to the board meaning any Ace or King might also give him the best
[58:26] or King might also give him the best hand and little does he know someone has
[58:28] hand and little does he know someone has two pair already but in general it's
[58:31] two pair already but in general it's good to have over cards with your flush
[58:32] good to have over cards with your flush draw
[58:33] draw he has top pair so he's got the eight
[58:36] he has top pair so he's got the eight which matches the top pair on the board
[58:38] which matches the top pair on the board he's probably gonna call a bet he's got
[58:40] he's probably gonna call a bet he's got a big over pair to the board so
[58:42] a big over pair to the board so everybody here flopped a little
[58:44] everybody here flopped a little something right there all happy now
[58:47] something right there all happy now we're gonna see a crazy action turn four
[58:51] we're gonna see a crazy action turn four hearts that is the most crazy turn you
[58:55] hearts that is the most crazy turn you could have had here alright let's see
[58:58] could have had here alright let's see why the jacks
[59:00] why the jacks they still haven't over over pair but
[59:02] they still haven't over over pair but they need to be a little nervous because
[59:03] they need to be a little nervous because that board it's called wet when a board
[59:05] that board it's called wet when a board has a lot of straight sand and flushed
[59:08] has a lot of straight sand and flushed possibilities it's called wet when it
[59:11] possibilities it's called wet when it doesn't it's called dry so this is a
[59:13] doesn't it's called dry so this is a very wet board so the jacks should be
[59:14] very wet board so the jacks should be nervous
[59:15] nervous ace Jack it's time to fold okay five
[59:18] ace Jack it's time to fold okay five eight you were happy with two pair but
[59:20] eight you were happy with two pair but you did not want to see a heart and you
[59:22] you did not want to see a heart and you did not want to see a straight e card
[59:24] did not want to see a straight e card this guy is doing jumping jacks right he
[59:27] this guy is doing jumping jacks right he just made a straight little does he know
[59:29] just made a straight little does he know he's in big trouble now the fours made a
[59:33] he's in big trouble now the fours made a set a set is when you have a pair in
[59:36] set a set is when you have a pair in your hand and the card that matches that
[59:37] your hand and the card that matches that comes on the board it's actually the
[59:39] comes on the board it's actually the situation we were talking about earlier
[59:40] situation we were talking about earlier with the best full house so he's very
[59:43] with the best full house so he's very happy although concerned about the the
[59:45] happy although concerned about the the hearts and the straights but he's not
[59:47] hearts and the straights but he's not going anywhere with a set sets are very
[59:49] going anywhere with a set sets are very strong this
[59:51] strong this guys doing a little dance because he
[59:53] guys doing a little dance because he just flopped the nut flush the word nut
[59:57] just flopped the nut flush the word nut means the best possible and that is a
[01:00:00] means the best possible and that is a poker technical term I kid you not and
[01:00:03] poker technical term I kid you not and there may be chauvinistic way but it's
[01:00:05] there may be chauvinistic way but it's you have the nuts you've got the best
[01:00:07] you have the nuts you've got the best possible hand so he's got does he have
[01:00:12] possible hand so he's got does he have the best possible hand right now or just
[01:00:14] the best possible hand right now or just the best possible flush right now best
[01:00:17] the best possible flush right now best possible hand right the board is not
[01:00:20] possible hand right the board is not paired so no one could have a full house
[01:00:22] paired so no one could have a full house so he has the best possible hand at the
[01:00:24] so he has the best possible hand at the moment and the best possible flush
[01:00:26] moment and the best possible flush obviously he does if he gets a 2 of
[01:00:31] obviously he does if he gets a 2 of Hearts he's going to have a straight
[01:00:32] Hearts he's going to have a straight flush
[01:00:32] flush good observation now the 8 9 how happy
[01:00:36] good observation now the 8 9 how happy are you with your top pair now not very
[01:00:39] are you with your top pair now not very but I've seen now remember the word
[01:00:41] but I've seen now remember the word donkey if you look at this board and you
[01:00:44] donkey if you look at this board and you have an 8 and you think you have the
[01:00:45] have an 8 and you think you have the best hand you may be considering that
[01:00:47] best hand you may be considering that title and then Queens you're getting
[01:00:51] title and then Queens you're getting nervous the queens and Jack's now the
[01:00:53] nervous the queens and Jack's now the river oh my god as if I didn't know I
[01:00:58] river oh my god as if I didn't know I made these slides alright so so let's
[01:01:03] made these slides alright so so let's look at it the jacks now has two pair he
[01:01:06] look at it the jacks now has two pair he may feel good about himself ace jack
[01:01:08] may feel good about himself ace jack well a lot of times when there's a pair
[01:01:12] well a lot of times when there's a pair on the board on the last card you figure
[01:01:14] on the board on the last card you figure it didn't complete any draws but I don't
[01:01:16] it didn't complete any draws but I don't think he's gonna call if there's a lot
[01:01:17] think he's gonna call if there's a lot of betting 5-8 now he's really happy
[01:01:20] of betting 5-8 now he's really happy right he went from 2 pair to a full
[01:01:22] right he went from 2 pair to a full house the straight over here he hates
[01:01:25] house the straight over here he hates that the board paired because now he
[01:01:26] that the board paired because now he knows that full House's are possible
[01:01:27] knows that full House's are possible quads are possible but those are very
[01:01:29] quads are possible but those are very unlikely to because it's just hard to
[01:01:31] unlikely to because it's just hard to make them there aren't that many 5s in
[01:01:33] make them there aren't that many 5s in the deck once there's a 5 on the board
[01:01:34] the deck once there's a 5 on the board so I think this trade is probably to
[01:01:37] so I think this trade is probably to lose some money here he may not go away
[01:01:38] lose some money here he may not go away but the worst victim here is the force
[01:01:41] but the worst victim here is the force the poor force has the worst full house
[01:01:45] the poor force has the worst full house he has not the worst possible but the
[01:01:47] he has not the worst possible but the worst one that anyone has right now so
[01:01:49] worst one that anyone has right now so he's got what's called forest full of
[01:01:51] he's got what's called forest full of fives meaning the card that he has 3 of
[01:01:53] fives meaning the card that he has 3 of a kind in his fours and the pair that he
[01:01:55] a kind in his fours and the pair that he has his fives and so he's very very
[01:01:58] has his fives and so he's very very happy right now
[01:01:59] happy right now he's about to be very very sad the flush
[01:02:03] he's about to be very very sad the flush here also he's
[01:02:04] here also he's not happy to see the board pair because
[01:02:06] not happy to see the board pair because he knows full houses are possible the
[01:02:08] he knows full houses are possible the eight might be getting the idea at this
[01:02:10] eight might be getting the idea at this point and the Queen's I don't know but
[01:02:12] point and the Queen's I don't know but the bottom line is the five eight made a
[01:02:15] the bottom line is the five eight made a bigger full house than the fours now is
[01:02:18] bigger full house than the fours now is there a lesson here should you be
[01:02:19] there a lesson here should you be folding full houses almost never okay
[01:02:22] folding full houses almost never okay it's really rare when you make a full
[01:02:25] it's really rare when you make a full house that someone is made a better full
[01:02:26] house that someone is made a better full house exception to that is when the
[01:02:29] house exception to that is when the three of a kind is on the board right so
[01:02:31] three of a kind is on the board right so if you've got three sixes on the board
[01:02:33] if you've got three sixes on the board and what you should be worried anyway
[01:02:35] and what you should be worried anyway right but let's say you have three nines
[01:02:36] right but let's say you have three nines on the board let's make it a little
[01:02:38] on the board let's make it a little safer than three sixes so you have three
[01:02:41] safer than three sixes so you have three nines on the board and you have a pair
[01:02:43] nines on the board and you have a pair of tens in your pocket any pair above
[01:02:45] of tens in your pocket any pair above tens is beating you and let's say
[01:02:47] tens is beating you and let's say there's three nines on the board and a
[01:02:49] there's three nines on the board and a king on the board anybody with a king is
[01:02:51] king on the board anybody with a king is beating you right so you're your full
[01:02:54] beating you right so you're your full house when there's three of a kind on
[01:02:55] house when there's three of a kind on the board isn't that strong but if
[01:02:57] the board isn't that strong but if there's just a pair on the board your
[01:02:59] there's just a pair on the board your full house is very strong okay let's
[01:03:02] full house is very strong okay let's look at another interesting hand you
[01:03:05] look at another interesting hand you have pocket aces which is the best
[01:03:07] have pocket aces which is the best possible hand preflop in poker against
[01:03:10] possible hand preflop in poker against four five suited and the flop comes like
[01:03:13] four five suited and the flop comes like this who's ahead this is the easy
[01:03:16] this who's ahead this is the easy question the aces right the other guy
[01:03:20] question the aces right the other guy has five high he has nothing now the ten
[01:03:24] has five high he has nothing now the ten comes on the turn who's ahead aces and
[01:03:29] comes on the turn who's ahead aces and now the jack comes on the river who's
[01:03:32] now the jack comes on the river who's ahead nobody right everybody's playing
[01:03:36] ahead nobody right everybody's playing the board now what you often see when
[01:03:39] the board now what you often see when this happens is one of the players will
[01:03:42] this happens is one of the players will put out a really big bet that happens a
[01:03:46] put out a really big bet that happens a lot why are they doing that they're
[01:03:51] lot why are they doing that they're representing a king right if you have a
[01:03:53] representing a king right if you have a king in this spot you have a higher
[01:03:55] king in this spot you have a higher straight than the board everybody else
[01:03:57] straight than the board everybody else is just playing the board and so when
[01:03:59] is just playing the board and so when you get a case where you might have
[01:04:00] you get a case where you might have multiple players in a hand and you get a
[01:04:03] multiple players in a hand and you get a straight on the board and no flushes and
[01:04:05] straight on the board and no flushes and no player obviously if there's a
[01:04:06] no player obviously if there's a straight on the board you you often see
[01:04:08] straight on the board you you often see a lot of action and what you might even
[01:04:10] a lot of action and what you might even see is one guy puts out a bet and the
[01:04:12] see is one guy puts out a bet and the other guys like yeah I don't think he
[01:04:13] other guys like yeah I don't think he has a king he wants the whole pot
[01:04:15] has a king he wants the whole pot instead of a fraction of the pot so I'm
[01:04:17] instead of a fraction of the pot so I'm gonna raise them and
[01:04:18] gonna raise them and but he raises you now they're
[01:04:20] but he raises you now they're representing the king and so you get
[01:04:21] representing the king and so you get into these mind games like well is he
[01:04:23] into these mind games like well is he bluffing etc we're gonna talk about that
[01:04:26] bluffing etc we're gonna talk about that a lot so I haven't talked at all about
[01:04:28] a lot so I haven't talked at all about betting yet so let's talk about the
[01:04:31] betting yet so let's talk about the money which is what we're all here for
[01:04:32] money which is what we're all here for right so in Hold'em we start out with
[01:04:37] right so in Hold'em we start out with three of the players being special we
[01:04:41] three of the players being special we have the button who's going to be have a
[01:04:44] have the button who's going to be have a dealer button in front of them we're
[01:04:46] dealer button in front of them we're going to have a small blind who's
[01:04:47] going to have a small blind who's putting out a small bet even though they
[01:04:49] putting out a small bet even though they don't see what the flop is yet or even
[01:04:52] don't see what the flop is yet or even what before they see their cards so
[01:04:54] what before they see their cards so that's why it's called a blind bet
[01:04:55] that's why it's called a blind bet because you don't know what your your
[01:04:57] because you don't know what your your hands gonna be and the big blind has to
[01:04:59] hands gonna be and the big blind has to put out the big bet and the big blind
[01:05:01] put out the big bet and the big blind the blinds can be one three one two two
[01:05:04] the blinds can be one three one two two five it doesn't have to be double but
[01:05:07] five it doesn't have to be double but one is smaller than the other and the
[01:05:09] one is smaller than the other and the next player is set to be under the gun
[01:05:12] next player is set to be under the gun so we have a dealer a small blind a big
[01:05:16] so we have a dealer a small blind a big blind and then these are forced bets
[01:05:19] blind and then these are forced bets this is how you start a Hold'em hand for
[01:05:23] this is how you start a Hold'em hand for example if the stakes are 1/3 the small
[01:05:25] example if the stakes are 1/3 the small blind will put out a dollar the big
[01:05:27] blind will put out a dollar the big blind would put out three dollars to the
[01:05:29] blind would put out three dollars to the left of the big blind is the under the
[01:05:31] left of the big blind is the under the gun player he's going to be the first
[01:05:34] gun player he's going to be the first one to act so he's under the gun and the
[01:05:37] one to act so he's under the gun and the minimum bet that he can make is the big
[01:05:39] minimum bet that he can make is the big blind and the second minimum bet he can
[01:05:42] blind and the second minimum bet he can make is two big blinds so let's say that
[01:05:45] make is two big blinds so let's say that the blinds are 1/3 his options are three
[01:05:48] the blinds are 1/3 his options are three six or something more than six can't bet
[01:05:51] six or something more than six can't bet five it's just a rule and then there's
[01:05:56] five it's just a rule and then there's something called a blind straddle so
[01:05:58] something called a blind straddle so buying straddle is when wait where do
[01:06:04] buying straddle is when wait where do they go blank straddles this only
[01:06:06] they go blank straddles this only happens in cash games and you can see
[01:06:09] happens in cash games and you can see here the dealer has put out two big
[01:06:11] here the dealer has put out two big blinds before the hand is dealt and
[01:06:14] blinds before the hand is dealt and under the gun can also post it and a
[01:06:17] under the gun can also post it and a straddle is considered live what is it
[01:06:19] straddle is considered live what is it it's just a blind bet you haven't got
[01:06:21] it's just a blind bet you haven't got your cards yet and you're saying let's
[01:06:23] your cards yet and you're saying let's liven up the action one three isn't big
[01:06:24] liven up the action one three isn't big enough for me I want to play one three
[01:06:26] enough for me I want to play one three six so you put six dollars out and then
[01:06:29] six so you put six dollars out and then in the Mississippi straddle which is
[01:06:31] in the Mississippi straddle which is what
[01:06:32] what like the Horseshoe Casino has you can
[01:06:34] like the Horseshoe Casino has you can straddle in any position but the button
[01:06:36] straddle in any position but the button gets priority so if this guy tries to
[01:06:38] gets priority so if this guy tries to straddle the button could say no I'm
[01:06:40] straddle the button could say no I'm straddling and you can do from two to
[01:06:43] straddling and you can do from two to five times the big blind and it
[01:06:45] five times the big blind and it basically raises the stakes of the game
[01:06:47] basically raises the stakes of the game and then you're going to get to act last
[01:06:49] and then you're going to get to act last preflop that's the last thing I'm going
[01:06:51] preflop that's the last thing I'm going to say about straddles it's not a big
[01:06:53] to say about straddles it's not a big deal but I wanted to say it because if
[01:06:54] deal but I wanted to say it because if you do play poker in a casino someday
[01:06:57] you do play poker in a casino someday they're gonna be straddling so each
[01:07:00] they're gonna be straddling so each player has a certain number of chips on
[01:07:02] player has a certain number of chips on the table that's considered your
[01:07:04] the table that's considered your effective stack say you put $200 down at
[01:07:07] effective stack say you put $200 down at a cash table you get $200 worth of chips
[01:07:10] a cash table you get $200 worth of chips your stack is $200 you're only allowed
[01:07:14] your stack is $200 you're only allowed to bet up to your chip stack so you
[01:07:17] to bet up to your chip stack so you might see in the movies or someone's
[01:07:18] might see in the movies or someone's pulling car keys out or deeds to their
[01:07:20] pulling car keys out or deeds to their home and stuff like that that doesn't
[01:07:22] home and stuff like that that doesn't actually really happen in poker so this
[01:07:26] actually really happen in poker so this has a result that different players at
[01:07:28] has a result that different players at the table will have different chip stack
[01:07:30] the table will have different chip stack sizes for example let's say player a has
[01:07:33] sizes for example let's say player a has $1,500 player B has 800 and player C s
[01:07:36] $1,500 player B has 800 and player C s 2300 and let's say that they all go
[01:07:39] 2300 and let's say that they all go all-in all in is that move where you
[01:07:41] all-in all in is that move where you push all your chips into the month into
[01:07:43] push all your chips into the month into the middle so if they go all-in then
[01:07:45] the middle so if they go all-in then player B can only win $1,600 right he
[01:07:49] player B can only win $1,600 right he can win $800 from player a and he can
[01:07:52] can win $800 from player a and he can win $800 from player C but he can't win
[01:07:55] win $800 from player C but he can't win more than that so if you have 800 and
[01:07:57] more than that so if you have 800 and you're up against two players with
[01:07:58] you're up against two players with bigger stacks than you have the most
[01:08:00] bigger stacks than you have the most that you can win is 1600 and this
[01:08:03] that you can win is 1600 and this creates what are called side pots so
[01:08:05] creates what are called side pots so let's look at a scenario where all three
[01:08:08] let's look at a scenario where all three players go all-in and player B has the
[01:08:11] players go all-in and player B has the best hand and player a has the second
[01:08:13] best hand and player a has the second best hand right so player B will win
[01:08:17] best hand right so player B will win 2420 $400 which is the 800 from the
[01:08:24] 2420 $400 which is the 800 from the other two players plus his own 800 back
[01:08:26] other two players plus his own 800 back everybody see that that's called the
[01:08:28] everybody see that that's called the main pot so if you go all-in for 800 and
[01:08:32] main pot so if you go all-in for 800 and these two go in for more than 800 you
[01:08:34] these two go in for more than 800 you just get 800 from each of them you get
[01:08:36] just get 800 from each of them you get your 800 and that's your win and then
[01:08:39] your 800 and that's your win and then there's a side pot between the other two
[01:08:40] there's a side pot between the other two players and the side pot in this case
[01:08:43] players and the side pot in this case would be 1400 why because player a has
[01:08:46] would be 1400 why because player a has 700 more than 800 right so if you look
[01:08:49] 700 more than 800 right so if you look at player ace $1,500 stack and you break
[01:08:51] at player ace $1,500 stack and you break it up into 800 and 700 and play your C
[01:08:55] it up into 800 and 700 and play your C you take is 2300 and say it's 800 700
[01:08:59] you take is 2300 and say it's 800 700 and then another 800 the original 800
[01:09:02] and then another 800 the original 800 from each of them goes to player B the
[01:09:04] from each of them goes to player B the 700 from player C and the 700 that a put
[01:09:08] 700 from player C and the 700 that a put in goes back to a and C gets back his
[01:09:10] in goes back to a and C gets back his 800 because he had the most so if you
[01:09:12] 800 because he had the most so if you have the most chips you can't lose all
[01:09:14] have the most chips you can't lose all your chips and we often refer to
[01:09:19] your chips and we often refer to somebody stack as how many big blinds
[01:09:21] somebody stack as how many big blinds they have as opposed to how much money
[01:09:22] they have as opposed to how much money they have so if you're playing a 1 3
[01:09:24] they have so if you're playing a 1 3 game and you have 300 dollars you have a
[01:09:27] game and you have 300 dollars you have a hundred big blinds and for a lot of the
[01:09:29] hundred big blinds and for a lot of the math that we're gonna do in this class
[01:09:30] math that we're gonna do in this class it's easier to just look at how many big
[01:09:33] it's easier to just look at how many big blinds somebody has as opposed to how
[01:09:35] blinds somebody has as opposed to how much money they have so now let's look
[01:09:38] much money they have so now let's look at a hand that have some betting in it
[01:09:40] at a hand that have some betting in it okay so in this hand we have a dealer we
[01:09:46] okay so in this hand we have a dealer we have a small blind the big blind has
[01:09:48] have a small blind the big blind has seven ten this guy has a pair of fours
[01:09:51] seven ten this guy has a pair of fours and this guy has a pair of Queens
[01:09:53] and this guy has a pair of Queens okay now the under the gun player is the
[01:09:57] okay now the under the gun player is the one immediately to the left of the $2
[01:09:59] one immediately to the left of the $2 right he folds and the pair of fours is
[01:10:03] right he folds and the pair of fours is going to bet 15 dollars let me take that
[01:10:05] going to bet 15 dollars let me take that slide back you see he has four hundred
[01:10:07] slide back you see he has four hundred dollars this really took my PowerPoint
[01:10:10] dollars this really took my PowerPoint skills to the max so you he bets fifteen
[01:10:13] skills to the max so you he bets fifteen dollars and now he's left with 385 right
[01:10:16] dollars and now he's left with 385 right now we're gonna see the next two players
[01:10:18] now we're gonna see the next two players fold and the Queen's bets 60 so he has
[01:10:23] fold and the Queen's bets 60 so he has rear aced it
[01:10:24] rear aced it he's got a really strong hand and his
[01:10:26] he's got a really strong hand and his stack went from 400 to 340 notice that
[01:10:30] stack went from 400 to 340 notice that this guy over here started the hand with
[01:10:32] this guy over here started the hand with $200 right and these guys started the
[01:10:35] $200 right and these guys started the hand with $400 so next thing we're gonna
[01:10:38] hand with $400 so next thing we're gonna have is these guys are all gonna fold
[01:10:40] have is these guys are all gonna fold and the big blind is going to go all-in
[01:10:42] and the big blind is going to go all-in for $200 donkey move right 7:10 but he
[01:10:46] for $200 donkey move right 7:10 but he does it for this example
[01:10:48] does it for this example the one dollar that the small blind put
[01:10:50] the one dollar that the small blind put in the pot stays in the pot even though
[01:10:52] in the pot stays in the pot even though he folded so now what are the four is
[01:10:55] he folded so now what are the four is gonna do well he's actually just going
[01:10:58] gonna do well he's actually just going to go all-in
[01:10:59] to go all-in this is not a good strategy but I'm just
[01:11:01] this is not a good strategy but I'm just trying to teach you the mechanics so he
[01:11:04] trying to teach you the mechanics so he goes all in and the Queens has an easy
[01:11:06] goes all in and the Queens has an easy call this is the right strategy he calls
[01:11:08] call this is the right strategy he calls four hundred now let's look at what
[01:11:10] four hundred now let's look at what happened the big blind went all in for
[01:11:13] happened the big blind went all in for two hundred the other two players each
[01:11:16] two hundred the other two players each went all in for four hundred so how much
[01:11:18] went all in for four hundred so how much is going to be in the main pot let's see
[01:11:22] is going to be in the main pot let's see a hand someone who knows yes
[01:11:25] a hand someone who knows yes 601 right we're gonna take 200 from each
[01:11:29] 601 right we're gonna take 200 from each player and the 1 and that'll be the main
[01:11:31] player and the 1 and that'll be the main pot and how much is in the side pot see
[01:11:35] pot and how much is in the side pot see a hand yes
[01:11:41] a hand yes 400 right because the other two players
[01:11:44] 400 right because the other two players once they put their 200 in now they're
[01:11:46] once they put their 200 in now they're putting 200 into a side pot so you can
[01:11:48] putting 200 into a side pot so you can see in the top left the main pot is 6:01
[01:11:50] see in the top left the main pot is 6:01 and the side pot is 400 now notice that
[01:11:54] and the side pot is 400 now notice that here we say this guy's all-in but these
[01:11:56] here we say this guy's all-in but these guys are all in plus the side pot so if
[01:12:00] guys are all in plus the side pot so if one of them wins the hand they're going
[01:12:01] one of them wins the hand they're going to win the side pot so the flop comes
[01:12:05] to win the side pot so the flop comes Jack 8/3 who's in the lead Queens right
[01:12:10] Jack 8/3 who's in the lead Queens right and now a 4 comes so the pair of fours
[01:12:15] and now a 4 comes so the pair of fours is in the lead he's got three of a kind
[01:12:16] is in the lead he's got three of a kind and now a nine comes which gives the
[01:12:20] and now a nine comes which gives the seven 10 sometimes the donkey wins it's
[01:12:23] seven 10 sometimes the donkey wins it's very frustrating but they do and he made
[01:12:26] very frustrating but they do and he made us straight so he's going to win six
[01:12:29] us straight so he's going to win six hundred and one dollars and plate the
[01:12:32] hundred and one dollars and plate the player with the fours is going to win
[01:12:33] player with the fours is going to win four hundred and notice that the guy
[01:12:35] four hundred and notice that the guy that had the best hand preflop loses
[01:12:38] that had the best hand preflop loses everything that B booth okay let me talk
[01:12:44] everything that B booth okay let me talk for a little bit about chess versus
[01:12:46] for a little bit about chess versus poker a lot of people ask me all the
[01:12:48] poker a lot of people ask me all the time is poker skill or luck I can't tell
[01:12:52] time is poker skill or luck I can't tell you how many times I get asked that
[01:12:53] you how many times I get asked that question it's a very frustrating
[01:12:54] question it's a very frustrating question if you spend hours and hours
[01:12:56] question if you spend hours and hours studying the game because if it was luck
[01:12:58] studying the game because if it was luck then you've just wasted your time in
[01:13:01] then you've just wasted your time in chess the best player almost always wins
[01:13:03] chess the best player almost always wins right if you play chess against
[01:13:05] right if you play chess against someone's got a higher rating than you
[01:13:07] someone's got a higher rating than you you're probably gonna lose in poker the
[01:13:10] you're probably gonna lose in poker the best player will win more often than the
[01:13:12] best player will win more often than the worst player
[01:13:13] worst player but the worst players gonna win
[01:13:14] but the worst players gonna win sometimes because like we saw in the
[01:13:16] sometimes because like we saw in the last hand the guy that played the 7:10
[01:13:18] last hand the guy that played the 7:10 he was the worst player he played it
[01:13:20] he was the worst player he played it horribly but he won and that'll keep him
[01:13:22] horribly but he won and that'll keep him coming back which is what the good
[01:13:24] coming back which is what the good players want in chess the worst player
[01:13:26] players want in chess the worst player is probably gonna go frustrated and quit
[01:13:28] is probably gonna go frustrated and quit and in poker the bad players every once
[01:13:31] and in poker the bad players every once in a while they're gonna win so they
[01:13:33] in a while they're gonna win so they keep playing and they actually think
[01:13:34] keep playing and they actually think they're good in the world championship
[01:13:37] they're good in the world championship of chess
[01:13:37] of chess only the top handful of players can
[01:13:39] only the top handful of players can compete in poker you just need $10,000
[01:13:42] compete in poker you just need $10,000 and you can enter the world series main
[01:13:44] and you can enter the world series main event in fact they're kind of counting
[01:13:46] event in fact they're kind of counting on that that's how they build up those
[01:13:47] on that that's how they build up those huge pots playing chess well it's very
[01:13:51] huge pots playing chess well it's very very hard playing poker well is also
[01:13:54] very hard playing poker well is also very hard but it's very easy to play
[01:13:57] very hard but it's very easy to play badly and not realize that so with with
[01:14:00] badly and not realize that so with with poker you have to constantly question
[01:14:01] poker you have to constantly question yourself you don't want to be what's
[01:14:03] yourself you don't want to be what's called results-oriented where I won I
[01:14:06] called results-oriented where I won I must have been really good right you
[01:14:08] must have been really good right you might have gotten lucky so the bottom
[01:14:11] might have gotten lucky so the bottom line is I think that chess is clearly a
[01:14:13] line is I think that chess is clearly a game of skill I think poker is clearly a
[01:14:16] game of skill I think poker is clearly a game of skill but in poker the skill is
[01:14:18] game of skill but in poker the skill is to get your edges and in chess it's not
[01:14:22] to get your edges and in chess it's not about getting edges it's just downright
[01:14:23] about getting edges it's just downright winning in poker you've won if you have
[01:14:26] winning in poker you've won if you have a better chance of winning more often
[01:14:28] a better chance of winning more often than your opponents so let me talk a
[01:14:32] than your opponents so let me talk a little bit about cash games versus
[01:14:35] little bit about cash games versus tournaments and what the differences are
[01:14:38] tournaments and what the differences are cash game your chip value is a cash
[01:14:41] cash game your chip value is a cash value so if you have two hundred and
[01:14:43] value so if you have two hundred and fifty dollars in chips you have two
[01:14:45] fifty dollars in chips you have two hundred fifty dollars it's a one-to-one
[01:14:46] hundred fifty dollars it's a one-to-one mapping the blinds will always stay the
[01:14:49] mapping the blinds will always stay the same if you're playing a cash game
[01:14:51] same if you're playing a cash game that's one three it's one three forever
[01:14:53] that's one three it's one three forever if you want to move to a bigger game you
[01:14:56] if you want to move to a bigger game you just have to take your chips get off the
[01:14:57] just have to take your chips get off the table find another table you can add
[01:15:00] table find another table you can add chips to your stack at any time so this
[01:15:03] chips to your stack at any time so this is a super important point because we're
[01:15:06] is a super important point because we're going to look in the theory that we get
[01:15:07] going to look in the theory that we get into at the difference between a deep
[01:15:09] into at the difference between a deep stack in a shallow stack a deep stack is
[01:15:12] stack in a shallow stack a deep stack is when you have a lot of chips and the
[01:15:14] when you have a lot of chips and the strategy gets much more complicated when
[01:15:16] strategy gets much more complicated when you have a lot of chips than when you
[01:15:17] you have a lot of chips than when you don't have a lot of chips and in the
[01:15:18] don't have a lot of chips and in the cash game if you end up with very few
[01:15:21] cash game if you end up with very few chips because you lose a big hand you
[01:15:23] chips because you lose a big hand you can reach into your wallet and put more
[01:15:25] can reach into your wallet and put more chips on the table and now you
[01:15:26] chips on the table and now you have a big stack and you can just buy in
[01:15:28] have a big stack and you can just buy in four more same thing if you're online
[01:15:31] four more same thing if you're online you in a cash game can take any
[01:15:33] you in a cash game can take any available seat body odor is a real
[01:15:36] available seat body odor is a real problem in casinos and when I sit down
[01:15:38] problem in casinos and when I sit down at a table if I'm very unlucky next to
[01:15:41] at a table if I'm very unlucky next to someone who doesn't know where the
[01:15:43] someone who doesn't know where the shower is I can just get up and take
[01:15:45] shower is I can just get up and take another seat you're allowed to move
[01:15:46] another seat you're allowed to move you're not in tournaments you're never
[01:15:49] you're not in tournaments you're never allowed to remove chips from the table
[01:15:51] allowed to remove chips from the table in in a cash game so if you sit down
[01:15:53] in in a cash game so if you sit down you're comfortable playing with $100 but
[01:15:56] you're comfortable playing with $100 but you're not comfortable playing with
[01:15:57] you're not comfortable playing with $1,000 but let's say you have a really
[01:15:59] $1,000 but let's say you have a really good run you turn your hundred dollars
[01:16:01] good run you turn your hundred dollars into a thousand dollars and now you
[01:16:02] into a thousand dollars and now you really want to be back at a hundred
[01:16:04] really want to be back at a hundred dollars so you want to take the other
[01:16:05] dollars so you want to take the other 900 off they won't let you you have to
[01:16:07] 900 off they won't let you you have to play until you just leave and in most
[01:16:09] play until you just leave and in most casinos they'll require you to be gone
[01:16:11] casinos they'll require you to be gone for at least an hour before you can come
[01:16:13] for at least an hour before you can come back in and buy in for $100 so that's
[01:16:16] back in and buy in for $100 so that's just the rules you could take a break
[01:16:18] just the rules you could take a break anytime if you're playing cash game you
[01:16:20] anytime if you're playing cash game you can get up go have dinner come back and
[01:16:22] can get up go have dinner come back and your chips will stay there straddles are
[01:16:24] your chips will stay there straddles are usually allowed in most casinos and in
[01:16:26] usually allowed in most casinos and in fact inactive tables you'll see a lot of
[01:16:28] fact inactive tables you'll see a lot of straddling they do something in cash
[01:16:31] straddling they do something in cash games especially at the higher stakes
[01:16:33] games especially at the higher stakes called running multiple boards out what
[01:16:35] called running multiple boards out what does that mean so say that you're in a
[01:16:38] does that mean so say that you're in a cash game and on the flop you and
[01:16:40] cash game and on the flop you and another player are all in you can make a
[01:16:42] another player are all in you can make a deal to run it twice and what run it
[01:16:45] deal to run it twice and what run it twice means is that you get two turns
[01:16:47] twice means is that you get two turns and two rivers so you get a turn River
[01:16:49] and two rivers so you get a turn River and then you get another turn in River
[01:16:51] and then you get another turn in River and the two people in the hand will
[01:16:54] and the two people in the hand will split will split if one wins the top and
[01:16:57] split will split if one wins the top and one wins the bottom you split it so it's
[01:16:59] one wins the bottom you split it so it's a way to lower your variance and the
[01:17:02] a way to lower your variance and the stacks tend to be very large relatives
[01:17:04] stacks tend to be very large relatives to the big blind by contrast in
[01:17:07] to the big blind by contrast in tournaments the chips have no real value
[01:17:09] tournaments the chips have no real value when you enter a tournament you leave
[01:17:11] when you enter a tournament you leave money at the door now you have playing
[01:17:13] money at the door now you have playing chips and and whoever has all the
[01:17:15] chips and and whoever has all the playing chips at the end of the
[01:17:16] playing chips at the end of the tournament wins a tournament and you
[01:17:17] tournament wins a tournament and you shouldn't think of your chips in a
[01:17:19] shouldn't think of your chips in a tournament as being money the blinds
[01:17:22] tournament as being money the blinds will go up regularly so every 20 minutes
[01:17:26] will go up regularly so every 20 minutes 30 minutes hour whatever the time period
[01:17:28] 30 minutes hour whatever the time period is for the blinds the blinds will
[01:17:30] is for the blinds the blinds will continue to go up which means your stack
[01:17:32] continue to go up which means your stack will go down with respect to how many
[01:17:34] will go down with respect to how many big blinds you have right so if
[01:17:36] big blinds you have right so if initially say you have a hundred big
[01:17:37] initially say you have a hundred big blinds and then the blinds double now
[01:17:39] blinds and then the blinds double now you have fifty big blinds
[01:17:40] you have fifty big blinds and so you're playing shorter and
[01:17:41] and so you're playing shorter and shorter stacked and the game is on the
[01:17:44] shorter stacked and the game is on the clock you have to follow the clock and
[01:17:46] clock you have to follow the clock and the rules of the clock you get assigned
[01:17:48] the rules of the clock you get assigned a seat in a tournament so when when 40
[01:17:51] a seat in a tournament so when when 40 of you guys play in my house you're
[01:17:53] of you guys play in my house you're gonna walk in the door and pick a seat
[01:17:55] gonna walk in the door and pick a seat out of a hat and that'll tell you what
[01:17:56] out of a hat and that'll tell you what table and what seat if body odor is
[01:17:58] table and what seat if body odor is sitting next to you it's tough luck in a
[01:18:00] sitting next to you it's tough luck in a tournament you can't add chips to your
[01:18:03] tournament you can't add chips to your stack you just get the chips and you
[01:18:05] stack you just get the chips and you play down to a winner unlike in a cash
[01:18:07] play down to a winner unlike in a cash game where if you want to play deep
[01:18:09] game where if you want to play deep stack you just buy more usually in a
[01:18:12] stack you just buy more usually in a tournament the top places get paid like
[01:18:14] tournament the top places get paid like the top 10 or 15% they'll be in the
[01:18:16] the top 10 or 15% they'll be in the money and we're gonna look at the
[01:18:18] money and we're gonna look at the different payout structures and how that
[01:18:19] different payout structures and how that affects strategy and tournaments you can
[01:18:23] affects strategy and tournaments you can only lose your buy-in in a cash game
[01:18:24] only lose your buy-in in a cash game it's really dangerous right you can keep
[01:18:26] it's really dangerous right you can keep pulling out more money losing more money
[01:18:28] pulling out more money losing more money in a tournament you buy in for 50 bucks
[01:18:30] in a tournament you buy in for 50 bucks that's what you're putting at risk is
[01:18:32] that's what you're putting at risk is $50 and there are many different formats
[01:18:36] $50 and there are many different formats of tournaments there's bounties shootout
[01:18:38] of tournaments there's bounties shootout satellites we're going to talk in the
[01:18:40] satellites we're going to talk in the tournaments lecture about all of these
[01:18:42] tournaments lecture about all of these different things so looks like I got
[01:18:44] different things so looks like I got about three four minutes I'm going to go
[01:18:45] about three four minutes I'm going to go through one more concept and then we're
[01:18:49] through one more concept and then we're going to have Danny for those that want
[01:18:50] going to have Danny for those that want to stay and get a demo of the website
[01:18:53] to stay and get a demo of the website that we're going to be using in the
[01:18:54] that we're going to be using in the class you can stick for that so the last
[01:18:56] class you can stick for that so the last thing I'm going to talk about is the
[01:18:57] thing I'm going to talk about is the rake if you play in a casino the way the
[01:19:00] rake if you play in a casino the way the casino makes money is they rake each pot
[01:19:03] casino makes money is they rake each pot that means that they take like five
[01:19:05] that means that they take like five percent of every pot out up to five
[01:19:08] percent of every pot out up to five dollars so if you're playing a 1/3 game
[01:19:10] dollars so if you're playing a 1/3 game you bet 15 you get a few callers you end
[01:19:13] you bet 15 you get a few callers you end up with a pot of $40 they're gonna take
[01:19:15] up with a pot of $40 they're gonna take 5% of that that's how the house makes
[01:19:17] 5% of that that's how the house makes money and you're gonna have to figure
[01:19:19] money and you're gonna have to figure that into your calculations later when
[01:19:21] that into your calculations later when we figure out some of the math that you
[01:19:22] we figure out some of the math that you need to do if you play 510 or higher
[01:19:25] need to do if you play 510 or higher which is quite substantially high they
[01:19:29] which is quite substantially high they rake it by time so every 30 minutes
[01:19:32] rake it by time so every 30 minutes everybody has to pay a big blind to the
[01:19:34] everybody has to pay a big blind to the house and that's how they do that you're
[01:19:37] house and that's how they do that you're also expected to tip the dealer every
[01:19:38] also expected to tip the dealer every time you win a hand and some places take
[01:19:42] time you win a hand and some places take an additional dollar or two for their
[01:19:43] an additional dollar or two for their bad beat jackpot and high-end promotion
[01:19:45] bad beat jackpot and high-end promotion so bad beat jackpot in most casinos if
[01:19:48] so bad beat jackpot in most casinos if you lose with quads
[01:19:49] you lose with quads you actually will win like $20,000 and
[01:19:52] you actually will win like $20,000 and the reason is they rake a dollar out of
[01:19:54] the reason is they rake a dollar out of every pot throughout the course of weeks
[01:19:56] every pot throughout the course of weeks and they build up a lot of money every
[01:19:58] and they build up a lot of money every pot at every table 24 hours a day and
[01:20:01] pot at every table 24 hours a day and then they say we have a bad beat jackpot
[01:20:03] then they say we have a bad beat jackpot if you lose with quads or better how do
[01:20:06] if you lose with quads or better how do you lose with better well you could have
[01:20:07] you lose with better well you could have the and idiot end of a straight flush
[01:20:09] the and idiot end of a straight flush and somebody else could have a bigger
[01:20:11] and somebody else could have a bigger straight flush in many casinos that's
[01:20:13] straight flush in many casinos that's awesome because you'll win a ton of
[01:20:14] awesome because you'll win a ton of money from that in tournaments part of
[01:20:17] money from that in tournaments part of the buy-in will go to the house so if
[01:20:19] the buy-in will go to the house so if you buy in for $100 tournament and a
[01:20:20] you buy in for $100 tournament and a casino
[01:20:21] casino they'll take 15 dollars and 85 will go
[01:20:23] they'll take 15 dollars and 85 will go into the prize pool and then you're also
[01:20:25] into the prize pool and then you're also expected to tip so I've had the good
[01:20:28] expected to tip so I've had the good fortune of winning several tournaments
[01:20:29] fortune of winning several tournaments and they come around with their little
[01:20:31] and they come around with their little tip jar you know you can tip you know
[01:20:33] tip jar you know you can tip you know you can do so it's not mandatory but
[01:20:34] you can do so it's not mandatory but they they will let you know that you
[01:20:36] they they will let you know that you need to - okay so I'm gonna pick up
[01:20:41] need to - okay so I'm gonna pick up where I left off here tomorrow but I do
[01:20:44] where I left off here tomorrow but I do want you all to set up an account I'm
[01:20:47] want you all to set up an account I'm gonna post the slide so you'll have that
[01:20:48] gonna post the slide so you'll have that info and will will give a break for
[01:20:51] info and will will give a break for people to walk out who are leaving and
[01:20:53] people to walk out who are leaving and then Danny is going to come down and do
[01:20:55] then Danny is going to come down and do his thing

https://www.youtube.com/watch?v=7cAzgUIKI68

Summary

TL;DR — This lecture introduces a popular intersession course on poker at Johns Hopkins, taught by Professor Avi Reuben, a computer science professor with extensive poker knowledge. The course aims to provide a foundational understanding of poker theory and practical application, covering game mechanics, strategy, and hands-on experience, with a focus on Texas Hold'em cash games.

Key points

• The course unexpectedly attracted a large number of students, highlighting the popularity of poker.

• Professor Reuben, an 18-year faculty member, developed a passion for poker studying and playing competitively.

• The curriculum will cover poker mechanics, preflop/flop/turn/river play, advanced concepts, tournament strategy, and poker etiquette.

• Students will engage in hands-on practice through an online platform (Bluff F.com) and potentially live tournaments.

• The course emphasizes the blend of theory and practice, with an understanding that real-world experience is crucial for improvement.

• The lecture touches upon the history of poker, famous players, and the psychological aspects of the game, including different player types and the difference between skill and luck.

Takeaway — Poker is a complex game that combines skill, strategy, and psychology, and this course aims to equip students with the knowledge and practice to become more proficient players.