 | When you fold, opportunity cost becomes a factor if it turns out that you would have won had you called. Which is not to say you should play results-oriented poker. Far from it. But if you’re one of those poker players who kicks himself for not being psychic and knowing when the flop/turn/river would have hit your hand, that becomes an opportunity cost of folding. Or in any important poker decision for that matter – if making what turns out to be the “wrong” choice is going to tilt you, that’s a kind of opportunity cost as well. |
The tougher the decision you face, the more important it becomes to consider the opportunity cost. For example, you’re playing in a NL tournament, let’s say a sit-n-go. Four players left, on the bubble, and you’re third in chips. Your remaining opponents are all reasonably solid players. Preflop, you’re in the big blind with A-K offsuit; UTG folds, then the next player, the short stack, raises (not enough that he’s pot-committed), and the button responds by shoving all in. You’re convinced the short stack will fold if you make the call, but he might call for all his chips if you get out of the way. The button is an aggressive player and you really don’t think he has aces or kings, which means you’re probably either racing or have him dominated if you call. marked cards contact lenses
Say you fold, hoping that the button will take out the short stack, thus putting you into the money. Here, your opportunity cost is the chance to double up (plus the dead chips from the short stack) at a critical point in the tourney, which would allow you to virtually coast into the money and have a much better shot at winning the whole thing. On the other hand, if you call and the short stack does indeed fold, your opportunity cost is the chance to have one of your opponents get eliminated right now, ensuring that you’ll make a profit on this tournament.
Obviously there are other variables here that will influence your decision. Is your main priority to squeak into the money or win the whole tournament? Do you believe the short stack holds an ace or a king, thus taking away one of your outs? And then there are the fine points of the situation, precise playing styles, stack sizes, etc. marked cards juice
The concept of opportunity costs can be enormously beneficial for poker players because it encourages us to really think through the value of each option as we ponder all those thorny decisions that await us at the poker table. Whether to play a strong hand fast or go for the slowplay. Whether to bluff-raise now or float until the next round. Whether to call all in for your tournament life or fold and wait for a better spot. Because the true cost of any choice lies in what you had to give up to make it.
