The Value Bet

If you watch poker on t.v., it seems like every minute a commentator uses the term "value bet". Just what is a value bet? The term has always confused me a little bit, so I thought writing a post about value betting would clear things up for me and you both.

After smurfing the interweb a bit, the consensus seems to be that a value bet is one you place when you are ahead (or at least you think you are ahead) and would like your opponent to call. The idea is to place a small enough bet to entice a call, making your opponents think that you have a weaker hand than you do. You might also value bet if you think it might make your opponent believe you are bluffing.

If you are considering making a value bet, the question you must ask yourself is, "what is the maximum bet I can make that my opponent will call?" You don't want to make your bet too large and scare off the call, but you don't want to make it too small and make less profit than you could have.

And this is were I have an issue with the underlying assumption of value betting: that the smaller the bet, the more likely you are to get a call. Poker is just so situational that there will be times when betting a large amount is more likely to get a call than a small amount. Some poker players see a small bet as a sign of weakness, and often it is. However a small bet can also mean "please call me", just as a very large bet might mean "please fold". Other players are aware of this and sometimes will be more likely to call the larger bet. It all depends on the situation.

My general advice? Place the traditional value bet against the grinders and the rocks. Against loose players and gamblers, bet your strong hands much heavier - gamblers are more likely to put you on an audacious bluff.

Generally speaking, if you always place small bets when you want a call, your opponents will catch on. So it's good to mix it up and occasionally disguise a bluff as a value bet and bet small with nothing. Occasionally you might make a big bet a very strong hand if you think your opponents will put you on a bluff.

While the term "value bet" may conjure images of you consistently winning pot after pot. I'd caution against sticking to any particular style of play too long. Always remember that your opponents are trying to figure you out, so don't be a stationary target.