Playing the river
Whether in a tournament, or a cash game, in no-limit hold ‘em, the river is one of the most under stressed areas of play. Many people believe that if you lead on the flop, and turn, you auto-bet the river. As in everything in poker, the answer depends on the players, the situation, and the cards on board.
I would make the argument that it is not always correct to bet the river. Often times, people are calling with draws and will fold the river to any bet, other than advanced or hyper-aggressive players who will try to raise you off your hand. However, it is safe to say that 95% of players will fold their draws.
This makes it important to be able to read hands and draws on board. If an obvious flush or straight draw comes out, then I will often check the river and try to induce a bluff. Even if a player is a relatively solid, conservative player, they will understand they can’t win the pot by checking, so they will often fire off a bet that you would have missed out on by betting. Also, sometimes you save chips or money, because people who are slow-playing monsters or have made a lucky 2 pair or other hand will bet less, because they will think that you will not call a big bet. In a worst case scenario, you often lose less than you would have by betting and calling a raise.
This play often depends on the player you are playing against. You need to be able to read what a big bet from a player means. For some players, a big bet means a big hand, and for others, a big bet means a bluff, because they think that you will not call without a monster. This distinction is one that only can be made on the felt. In a tournament or a cash game, usually these kinds of plays have huge value outside the hand, because if you call a huge bluff bet, people at the table will be less apt to bluff you, and you can fold marginal hands. The player who bluffs and is caught often has a tendency to go on tilt as well which is invaluable in any game.
It is very important to remember this in reverse too when you are the player who has position on the river. Beware the player who will induce the bluff. Sometimes, a small “crying call” bet is the proper play in this position. Good players will often fold a pot for 1/2 pot bet in this situation that they would flash-call an all-in for, because of their thinking of what they would do in this situation. So in general, against good players, I limit river bluffs when checked to when no obvious draw comes in. However, this also makes very useful bluffs with position when flush, open-ended straight, and 4 to a straight draws come in, as well as the river pairing the 2nd highest card.
Most people stress how important position is in no-limit hold ‘em and I agree with this 100%, but this is one of the few instances that being out of position can actually be more profitable than having the button.
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