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In no-limit or pot-limit poker, a player's M-ratio (also called "M number", "M factor" [1] or just "M") is a measure of the health of a player's chip stack as a function of the cost to play each round. In simple terms, a player can sit passively in the game, making only compulsory bets, for M laps of
The fundamental theorem of poker, introduced by David Sklansky, states: Every time you play your hand the way you would if you could see your opponents' cards, you gain, and every time your opponents play their cards differently from the way they would play them if they could see your cards, you gain. [1]
The card game of poker has many variations, most of which were created in the United States in the mid-1800s through the early 1900s. The standard order of play applies to most of these games, but to fully specify a poker game requires details about which hand values are used, the number of betting rounds, and exactly what cards are dealt and what other actions are taken between rounds.
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Position in poker refers to the order in which players are seated around the table and the related poker strategy implications. Players who act first are in "early position"; players who act later are in "late position"; players who act in between are in "middle position". [1]
In poker, the Independent Chip Model (ICM), also known as the Malmuth–Harville method, [1] is a mathematical model that approximates a player's overall equity in an incomplete tournament. David Harville first developed the model in a 1973 paper on horse racing; [2] in 1987, Mason Malmuth independently rediscovered it for poker. [3]
Pot odds are only useful if a player has enough equity.Equity is the chance a player has to win the hand at showdown.It is calculated as the fraction of remaining cards in the deck for each remaining street (sequential card being dealt, e.g. turn, river) that can give a player the winning hand.