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When you and one
other player remain near the end of the hand and several other players
have been calling bets in the middle rounds, the equity in the pot
may be sufficient for you to call in the hope that you will guess
correctly. (This usually applies only in a limit game.) For example,
you and one opponent remain on the sixth card. Your opponent, who
may have you locked out either way (but not both ways), bets two
chips.
It will cost you four chips to see the hand through (two on this
round and two on the next), so your potential loss is four chips.
If there were several other players in the hand, there may be about
15 or 16 chips in the pot. Your potential win is about eight chips,
and the pot therefore offers you two-to-one odds. You should be
able to escape with half the pot more often than one time in three
(either by hitting a very good hand or by guessing the correct call),
so you should stay in.
Conversely, in a similar situation,
if the pot has seen little action and it contains only nine or ten
chips, it is not worthwhile to pay four chips in an attempt to win
five. You will have to be right almost half the time for such a
maneuver to pay off. Concede the pot to your opponent! After all,
why play a guessing game at even money when you can get better odds
by exploiting your superior skill on succeeding deals?
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