Level 31: Multi-Way
It seems like everything I’ve been reading or listening to acts like you’re mostly going to be heads up post flop, when at mid-stakes at least, I’m often on tables where it’s heads up on the flop about as often as snow in May.
Thinking about the MDF numbers earlier, if I’m using them to decide if people are over folding enough for low equity bluffs to be profitable, the non-defend percentage is the frequency I need everyone to fold for a no equity bluff to show an outright profit. So if I make a half pot sized bet, I need everyone combined to fold 1/3 of the time for the bluff to be profitable. Getting 1 person to fold that often seems pretty likely, especially if they are tight, and the board doesn’t seem too likely to have hit their range. With 2 people, as an enemy team, they now have twice as many combos of everything, and so no matter what the board looks like, it is more likely that one of them has a hand they like. Still, I think even with two opponents there are probably a lot of spots where one or more of them calls or raises less than 67% of the time.
But that basic thought of facing the combined range of all of your opponents means that with a very strong hand you are much more likely to get calls, and also much more vulnerable to draws, as almost any card will often hit at least one opponent hard, strongly incentivizing you not to slow play. And on the flip side, it seems like bluffs just have no chance, as someone will usually have a hand that wants to continue.
This seems a little contrary to experience… I’m often involved in multi-way pots where everyone checks around on the flop, and then someone makes a normal or even small bet on the turn, and everyone folds. Why does that happen so often?
Let’s imagine the player to act after the turn bet, and that it is currently 5 way. That player has 3 players left to act behind him that might be trapping. If he calls, he doesn’t know if he’s even going to be able to see the river, as someone behind him still might raise. That forces him to be much tighter than the last player to act. The next player is in a similar spot. She has two players behind her still, and maybe one of those will often play trap lines, to make matters worse. So she has to really ask, does she have a hand that is better than what 3 other remaining players have? When we get to the last player, I think a bit of hypnosis often occurs… “gee, everyone else folded… they must think that bet is the nuts”, and don’t seem to defend as wide as they should either. Finally, stronger players at the table probably also realize that the bet usually represents a much stronger range than it would have if fired into a single opponent (at least if they think the player that made the bet understands all of this). So everyone seems to fold quite a bit more than you’d see in the same line with only 2 players.
Still, despite that, you face much higher odds that someone has a big hand. If you are early to act, even if you have a decent hand, it is hard to be confident that the turn didn’t just give someone a set, if you have all 9 players still around for the turn.
So the golden rules of multi-way play seem to be:
- you need a much stronger hand to make a value bet
- it’s harder to bluff profitably (but if it checks around a bunch of times, I still like to try)