The Situation : probelity
You are playing Texas Hold’em against one other opponent.
• Your two down cards are 6 of (diamonds) & 7 of (diamonds).
• The first three cards to come up are 3 of (diamonds), 4♣ 9♠.
• The next card to come up is 10 of (diamonds).
You and your opponent have both already bet $24,000 into the pot each. Your opponent now adds $10,000 to the pot. You only have $10,000 left in total.
While you consider what to do, your opponent, in an effort to rattle you, reveals his down cards. They are 10♣ 10♠.
Should you call his bet by tossing the rest of your money into the pot, or should you fold and give up the pot to your opponent?
Remember your opponent has at least a pair of 10s. What cards could come up to make your hand better? What could come up to make your opponent’s hand better? Is there any way you could tie each other? Also look at the expected value of the game. If you fold, you are assured a loss of $24,000. Make sure this fact is used in your analysis.
Write a 1-2 page paper in which you:
1. Explain your strategy for solving the problem.
2. Explain why your strategy will work.
3. Execute your strategy showing your mathematical work.
4. Draw conclusions from your work.