Quote:
Originally Posted by Okra Winfrey
Is it possible for two otherwise identical options (again in terms of EV) to have wildly divergent frequencies? If so, why would that be the case at equilibrium?
Taking two different lines with the same hand means your range can be wide on both branches of a decision tree (this is related to the concept of "deception", where you don't want your range to be face up), and this reduces the possibility of exploitation.
e.g. Suppose you have the nut flush on the turn and villain is betting into you. If you
always raise, then an observant villain would know you never have the nut flush if you just call, which gives him an incentive to bluff the river if you just call turn. If you always
call (i.e. slowplay) on the turn, then he knows you never have the nuts if you raise, so he could 3-bet bluff the turn.
So the solution is to
sometimes call and
sometimes raise (i.e. you play a mixed strategy), such that you have the nuts in your range on both branches of the decision tree. If you use the optimal frequencies for calling and raising, then both lines will have the same EV, and a villain can't exploit you.
Mixing even happens with bluff-catchers on the river. In order to prevent villain making +EV bluffs with various combos, you have to call with various combos of your own. e.g. If villain knew that you only called with bluff-catchers containing a king, he'd be more likely to bluff when he has a king. To prevent him exploiting you in that way, you need to bluffcatch with a
variety of hands, all at different frequencies.
P.S. This Upswing article is an easy-to-read primer on mixed strats:
https://upswingpoker.com/mixed-strat...ker-decisions/