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Thinking Strategically

by Andrew Brokos |  Published: Apr 17, 2013


The term “strategy,” in the academic parlance of game theory, has a very specific meaning not dissimilar from its more casual use. Wikipedia defines it as “a complete algorithm for playing the game, telling a player what to do for every possible situation throughout the game.” This is distinguished from a “move”, which is “an action taken by a player at some point during the play of a game.” A strategy is like a plan or a formula laying out which move you will make in any given situation. Many players err by fixating on the profitability or expected value of an individual move rather than of an entire strategy. Calling a substantial preflop raise with 5-4 suited is probably not, in isolation, a profitable move. In all likelihood, you are well behind the raiser’s range. It can, however, be part of a profitable strategy depending on what you and ...

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