Knowing When to Fold'em

Winning with great cards is one thing, but knowing when to fold is the real key to consistent success in poker. Knowing when to lay down your cards isn’t about folding a terrible hand because anyone can do that. It's about finding yourself great cards but folding them when your opponent smirks at the last card. It's all about the read. A good player must develop a sub-conscience awareness that helps them pick up on the smallest of tells. Was there a facial tick? Or was there a slight delay when betting. Some people pick up on these tells naturally with complete accuracy. For most of players, it's a skill one has to perfect over years.  

There are also some basic moves that count as warning signs in the game. When you come up against these, your opponent generally has something big, or could well have by the next card. "These signs can include check raises, smooth calling, and medium bets", according to professional player Phil Ivy. Of course, you can also make your decisions easier with some poker science. This is the economic aspect of the game. 

One very important strategy involves understanding the value to your opponent. What’s their raising range? How much are they betting on a good hand versus a great hand? Similar to how an economist study the value of certain markets, understanding the price of your bet, and the value of the pot will help you make decisions to determine the strength of your opponents cards. Another thing to keep in mind is to fold when you realize the costs outweigh the benefits. This usually occurs when you know you cannot come back from a bad beat.

Making a fold is a hard thing to do because no one likes to think they're folding the winning hand. But by recognizing key tells, and understanding the value of certain bets, folding may be in fact the most economical thing to.