Limit Omaha Strategy: Fold Equity
by Deke Marston
|No Limit Hold 'Em poker is filled
with concepts like three betting light and continuation betting. These ideas exist because
you've got a great amount of fold equity on your side. Whats fold equity and how
does it relate to your game? Simply put, fold equity is the likelihood that an opponent
will fold, multiplied by the gain youll experience if they do. As Omaha poker gives
more players hands that are playable in each round, you're going to actually see fewer
players who are willing to fold right off the bat. This means that fold equity is a
smaller element in your overall Omaha poker game, but you should definitely be aware of
When you're playing No Limit Hold 'Em, certain boards are going to greatly restrict your
opportunities to place a continuation bet because they'll open up your opponents' hands.
Let's look at an example of your opponents range and how it works in NLHE compared to PLO.
You've raised from under the gun while holding KQ and the player just before the button
calls. The flop hits: 78T. In Hold 'Em, it's a good idea to check or fold rather than keep
betting because your opponent is likely to have hit a stronger hand than what you're
calling. Also, with a low-to-mid-range spread like that, they're more likely to float you
than if the board had something like AJ3 while theyre holding something theyd
bet with on 78T
You can see how fold equity can greatly decrease when your opponent has four cards that
they can take to the board. When you consider bluffing into more than one player, it's
even less likely that you're going to have a significant amount of fold equity on the same
sort of board. For example, let's suppose that you've raised while holding AA23 rainbow
(two different suits) and you end up getting called by someone in middle position and then
the player on the button. This is a very common scenario before the flop because, again,
there's a better chance of making a drawing hand in Omaha.
In this case, the board drops with 9hTsJh, helping someone build a straight or draw to a
flush. Should you make a continuation bet with your AA? Unless your opponents are very
loose, the answer is no. If you're not the one making the straight or flush draw, then
you're better off folding and letting the players who are more likely to have the nuts
spend the money to see what happens next.
The short version of all of this is that when an opponent is re-raising you in Omaha
poker, they're probably making the correct call for them.
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