Yes, that is the definition of substantial action. It is relevant in the determination of misdeals and OOT action in the TDA rules.
The TDA rules don't address determining how to handle the discovery that less than the minimum bet amount was made and called on a previous street.
I'm not sure what RRoP rule Suit was referring to, as I don't think there's a rule there to handle undersized bets on a previous street either, unless I'm missing it. There is a similar rule about oversized bets in pot limit games, though, which does indeed say it can only be corrected until "all players have acted on it" or in some cases even a shorter time.
Quote:
2. The dealer or any player in the game can and should call attention to a wager that appears to exceed the pot size (this also applies to heads-up pots). The oversize wager may be corrected at any point until all players have acted on it.
3. If an oversize wager has stood for a length of time with someone considering what action to take, that person has had to act on a wager that was thought to be a certain size. If the player then decides to call or raise, and attention is called at this late point to whether this is an allowable amount, the floorperson may rule that the oversize amount must stand (especially if the person now trying to reduce the amount is the person that made the wager).
Last edited by dinesh; 07-09-2017 at 04:30 PM.