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Book-Keeping

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Book-Keeping

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Sean Lefort

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Book-Keeping

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Sean Lefort

POSTED Apr 13, 2013

Sean introduces a new concept to the Run It Once community and coins it, "book-keeping". In this video, Sean discusses the importance of this book-keeping skill and goes into great detail regarding some of the potential dangers of not book-keeping properly. The video includes some examples of good and bad book-keeping as well as a conclusion with some suggestions for how to go about improving one's book-keeping skills.


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R0b5ter 12 years ago
Terrific video as usual Sean. One question..

In hand example 2 you choose to bluff with KhTx. Couldn't Ah7x be better candidates given that we have the nut blocker with those hands?


Sean Lefort 11 years, 11 months ago
It's from the 4th video (months ago) but IIRC I think I had us folding out 7X on the turn but looking back on it now that might be a tad nitty.. although I'm pretty sure I did a (1-alpha) analysis at the time to construct proceeding ranges so maybe not. I'd have to review the video.. but you're correct in that it would be a slightly better candidate.
BigFiszh 11 years, 11 months ago
Phenomenal video (again) - didn´t expect anything different though!!

One question regarding one of your slides on hand 1 (about 15 mins in the video). You stated that our optimal defense frequency against a bluff-3bet would be 55% (as Villain would be risking $44 to win $37 in your example). Then you mention that our actual defense should be even bigger if "a significant portion of our flatting range will fold to turn/river bluffs [...]".

I don´t understand that last part. What does mean "significant"? If we´re defending each street (turn / river) again with optimal frequencies, we don´t lose money to Villain´s bluffs, right? So, the only argument for us folding less (defending more) would be to counter Villains equity with his bluffs, or am I wrong?
Sean Lefort 11 years, 11 months ago
If we defend the exact amount of the threshold, that would leave villain's bluffs making $0 if the hand ends there and all of our defended hands win the pot. However, in this case we have two more streets to play. Thus, if we defend at exactly the threshold, our opponents bluffs will make $0 (break-even) *in isolation* on the flop. But he will gain extra value when he sucks out (although seldom) as well as some instances where the board run-out will favor his range so much that his bluffs will undoubtedly be immediately profitable.

So basically, if we defend the exact amount on the flop, he's free-rolling some extra value. Thus, I like to make sure I eclipse that threshold and make certain that his bluffs are immediately not-profitable and at best will reach break-even after later street value.
BigFiszh 11 years, 11 months ago
OK, then I understood it correctly, Villain´s additional equity makes it necessary to give ourselves a little buffer ... thanks!
midori 11 years, 10 months ago

Thanks Sean, it was an excellent video and made me realise I'm turning too many hands into a bluff in certain situation.  I will probably still stick to it because I mostly do it when I don't expect them to think I am bluffing very often (i.e. I have some exploitable justification) but this is def. something I have to consider vs. good players.

Btw just one thing - in example #3 our OBF is about 40%, so can't we have 17 value/12 bluff combos instead of 17/9?  

tompoker 11 years, 7 months ago

In the first hand example, you can not only cr a bit over 21 bluff combos (with 50 value combos), but MUCH more than that, maybe even more than 50. Here is the reason:

Starting from the river, our river betting range can and should be constructed in a way that makes him indifferent with his bluffcatchers, i.e. his EV of a call is the same as a fold which is 0, which means that he basically loses the whole pot every time we make a bet and he has a bluffcatcher. Now when we bet the turn, we can construct our range in a way that counts every riverbet as a "value hand", even though it is not an actual value hand, but as stated above, that does not matter vs his bluffcatchers. Therefore, our actual bluff:value ratio shifts more towards bluffs, which leads to a new ratio of 1:1 with common betsizes. The same principle transitions to the flop, leading to a bluff:value ratio of about 2:1.

Now that's the case when our value hands have 100% equity and our bluffs 0% equity and neglecting card removal effects and position. After crunching some more realistic numbers and approximate the disadvantage of being out of position, still without card removal, the bluff:value-raise ratio should be something like 1:1 to 1,5:1, which leads to 50-75 bluff combos in your example.

The fact that we need to be able to defend against a small 3-bet does not directly limit us in the number of bluffs in our raising range, but in our construction of it, which means we need to have enough hands in our check-raise-bluffing range that can profitably call a small 3-bet. On the other hand, it is not easy to pick hands to check-raise-"bluff"/call with, because many or all of such hands are also considered good check-calling hands. Maybe it is best to take some cc-candidates into a check-raise/call-small-reraise-range, like AT with the Ace backdoor-draw. This also enables us to hit more turn cards we otherwise would not have (or rarely) hit after check-raising the turn. One could argue that our range is so strong that we have enough value hands we can easily call a reraise with, but then our cr/call range becomes too strong.

On a side note, I really like your videos the most on RIO, even now with Ben Sulsky on board, as long as he limits himself to sessionreviews and liveplay. Keep up doing the good stuff.


Edit:

Additionally, if villain is very good and assumes hero is also very good, flop-3bets should occure very infrequently, because
1. hero's range is already quite polarized against which a wide calling range is better than a wide raising range, esp. in position
2. balancing another decision-subtree consisting of a very narrow value range is very difficult without creating an imbalance in hero's calling range.

Therefore, hero can eliminate one decision-subtree for a similar reason MP vs UTG eliminates the 3-bet option for certain stack-sizes and blind-structures and SB vs BU eliminates the call-option for certain stack-sizes and blind-structures.

Even if villain autoprofits with certain hands on a small-3bet, that does not mean he maximizes his EV that way.
The tendency of discarding a reraising-range is frequently observed in HU-matches of elite players against each other.

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