Risk of going broke is not worth it

This hand from a $30-buy-in tournament illustrates a mistake that many amateur players make on a premium (but possibly second-best) hand.

With blinds at 2,000- 4,000 plus a 400 ante, a player in second position raised to 9,100. The players in the hijack and cutoff seats both called, as did our Hero on the button with 8c 7c. Hero had a hand that often flops favorably, and he’d be able to navigate difficult flops reasonably well since he was in position. The small blind also called.

The flop came 10d 9h 5s, giving Hero an open-ended straight draw. Everyone checked around to Hero, who also checked.

I would have at least considered making a small bet. Most initial raisers will make a continuation bet with their strong hands, meaning the initial raiser’s hand probably wasn’t very strong. After the initial raiser checks, the remaining players will usually bet strong hands, so the hijack and cutoff likely held marginal hands at best. The only player Hero needed to worry about having a strong hand was the small blind.

When you’re in position, it’s usually profitable to bet with a wide range of draws and made hands. If one of the other players calls, Hero should usually bet again on the turn or the river, looking to make the opponents fold almost their entire marginal range.

The turn was the 3c. The small blind bet 13,800 into a pot of 53,100. The initial raiser and the cutoff both called. Hero called as well.

While there may have been some merit in raising, mainly because the initial raiser and the cutoff had marginal ranges, I like Hero’s call since he was getting excellent pot odds closing the action in position. When you have a draw and are unsure whether a raise will make your opponents fold most of their ranges, you should usually just call and see the next card when you are getting excellent pot odds. Hero will complete his straight about 17 percent of the time, and based on the pot odds, he only needs to have 13 percent equity to justify continuing. When your odds of improving to an effective nut hand are greater than the equity you need to continue based on the pot odds, you should stick around.

The river was the Jh, completing Hero’s straight. The small blind checked, the initial raiser bet 26,500 into a pot of 108,200, and the cutoff raised to 60,000. Hero decided to go all in for 140,700 total.

I despise this all-in move by Hero. Even though he improved to what is likely the best hand, he easily could have been behind a better straight. While Hero should not fold (because the cutoff could have a set or two pair), he should not raise, because his all-in bet will usually only get called by a straight or set. Going all in may win chips, but in a tournament setting, there is significant value in not going broke. By just calling, Hero will have 80,000 chips remaining if he loses, and if he wins, he’ll still have a ton of chips. The risk of going broke is not worth the gain from extracting a bit more value.

Sure enough, the cutoff had K- Q for the nut straight, busting Hero from the tournament. Hero wanted to complain about his bad luck, but in reality, he made a blunder that costs many amateur players a lot of money.