Arguably no author has had a greater impact on poker and especially the theory behind the game as David Sklansky. His Theory of Poker was and still is the quintessential book on poker theory and is as important today as when it was released. But Sklansky's practical expertise lies in Limit; his equally excellent Hold'em for Advanced Players is one of the top 4 or 5 books written on the subject. The idea of him releasing a NL book was rightfully met with cynicism and speculation as to how his theoretical and mathematical approach would translate and the answer is in:
Perfectly
NLHE:TAP is simply the best textbook on the subject. The best book for gaining an understanding of how math still rules the game, even if the math is much more complex than it is in limit. But Sklansky stresses that he's simply giving the concepts needed to approach situations with and, to borrow a pithy cliche from the book, he's teaching you to fish and to eat for a lifetime instead of giving you a fish and allowing you to eat for a hand or two. The "Fundamentals" section is the primary "teaching you to fish" part. If one were to master these concepts one would know how to react to most any situation that would come up at a poker table. Sklansky stresses the importance of concepts such as hand reading and manipulating your opponents that can't be taught in a textbook, but while not everyone can master those concepts (it's something that only comes through experience and practice) most anyone can master the fundamentals with time and effort.
What follows is a chapter-by-chapter review. It should be said I'm a professional who plays live $1000NL and multi-tables online $200NL and $400NL and no book has helped my game as tremendously as TAP which I've read cover to cover at least 3 times and have returned to sections more than that.
--INTRODUCTION & ABOUT THIS BOOK--
This section lays down what Sklansky hopes to achieve with this book. At the end of 'About this book' he says "A theoretical understanding of No Limit might not allow you to beat every game or every opponent but it's almost guaranteed to make you a better player." and that is the goal of the book.
--THE SKILLS FOR SUCCESS--
This section lays down the keys for NLHE success, which are:
Manipulating the pot size, adjusting correctly to stack sizes, winning the battle of mistakes, reading hands, manipulating opponents into playing badly.
Sklansky goes on to describe each, but this book is particularly focuses on manipulating the pot size and adjusting to stack sizes as these lie in the game's fundamental format. While he does touch on the other issues it is clear that these are elements that can only be mastered with time and experience.
--NO LIMIT AND THE FUNDAMENTAL THEOREM OF POKER--
This analyzes NLHE in the framework of Sklansky's fundamental theorem of poker (see Theory of Poker or do a search online); he sums up in the end simple: "Good no limit players magnify their opponents' weaknesses and make plays to which the expected response is a mistake. Good players also actively avoid falling into situations where they are likely to make a mistake."
The bad player quote is, obviously, roughly the opposite.
--THINKING IN TERMS OF EXPECTATION: PLAYING THE NUTS ON THE RIVER--
An important chapter despite its brevity. In fact, its central concept has been one of the most important elements in my growing game. Sklansky shows how the goal in NL is NOT to assure a call when you have the best hand, but to make the most; your Expected Value, or EV is gotten by multiplying the chance you'll be called by the amount you bet. He gives the example of playing the nut straight on the river on a 4-card-straight board. He shows how often times a big overbet offers the highest EV because someone with a straight will have a difficult time folding.
These situations pop up often where a big overbet would make much more money than a small, "value bet" and it's been one of the biggest money makers in my game (especially online).
--THE IMPORTANCE OF IMPLIED ODDS--
Effectively shows how implied odds rule the game. Sklansky shows why calling pre-flop with a weak hand even against an opponent known to have Aces is a profitable player if you can extract enough from them if you flop a better hand. Sklansky then illustrates the importance information plays; meaning the less you know about your opponents hand the lesser the bet you can profitably call and vice-versa.
--DON'T JUSTIFY THEIR OPTIMISTIC CALLS--
The flip side of playing for implied odds is not allowing your opponents that luxury by offering them too high implied odds with hands that you plan on paying off if they outdraw you. He emphasizes knowing ahead of time how far you plan to go with a hand and says that if you plan to pay of big future bets you should bet more to cut down on implied odds, while if you plan on folding you can bet less.
The two implied odds chapters should be the first you internalize and master. To understand implied odds is to understand the basis of all NLHE.
--BET SIZING--
Perhaps the most complex chapter as well as most important after implied odds. Sklansky shows how to size bets when facing an opponent with weaker hands, be it draws or made hands. The section includes many sub-chapters which illustrate how your bet sizing should change based on different situations. One of the most enlightening was "not taking away their rope" if you have a hand that can beat their draw even if they hit. He gives the example of top set against a flush draw. Many players would be tempted to bet large so as to make them pay to draw out, yet the fact that your opponent can hit his flush and give you a full house means you would want them to stay around; especially if you could fold if you KNEW they hit the flush.
--THE HAMMER OF FUTURE BETS--
This short chapter is on counter implied odds (CIO) and despite its brevity is one of the most important. Ed illustrates how folding a hand as good as top pair, medium kicker on a board that is straightening and flushing will often be correct because there's 3 ways to lose:
1. You have the best hand and are out-drawn.
2. You have the best hand and are bluffed on the river.
3. You don't have the best hand.
CIO is one of the most important concepts in NLHE and one of the most stupidly ignored. The prospect of facing large future bets with weak/vulnerable hands should make any good player pause.
--BLUFF SIZING--
Less essential than the previous chapters, but Sklansky does emphasize to bet just enough to get the job done; meaning don't risk more than necessary to maximize your EV. He shows examples where bigger bets are better as well.
--BLUFFING ON THE TURN AND RIVER--
An advanced concept only to be used in games where players can fold big hands. Sklansky shows how to size a planned turn/river bluff that will put you or your opponent all in and how to maximize both its effectiveness and how much you can potentially make.
--BET SIZING FOR INFORMATION--
This is one chapter I haven't reread much. Sklansky expresses cynicism over the effectiveness of the concept and I've never used it much myself. He simply says that paying for information is only profitable if the information is accurate, which at a poker table often isn't the case.
--PLAYING THE NUTS ON THE RIVER; MORE EXAMPLES--
This goes back to the chapter on "thinking in terms of expectation" and is an elaboration on the concept with more examples, this time listing examples when smaller bets may be better.
--VALUE BETTING ON THE RIVER--
Another chapter I haven't read much, but I probably should. Sklansky shows how your bets should change (and if you should bet at all) depending on how likely you are to be best and how likely you are to be bluff-raised.
--ABSOLUTE AND RELATIVE POSITION--
Everyone knows how important position is in NLHE, but absolute position (being close to the button) is different than relative position (being to the right of the better). The latter is a unique concept which illustrates the value of being able to check to the better and see what everyone else does before you have to respond.
--RAISING BEFORE THE FLOP--
Sklansky lists 5 reasons to raise:
1. Value
2. Isolation
3. Stealing the blinds
4. Deception
5. Manipulate the pot size
Any limit player will be familiar with 1-4, but 5 is a concept perhaps most important to NL as Sklansky explains. In fact, its importance likely trumps 1-4 since the primary profit in NL comes from the sizeable pots that can be created by the NL betting structure.
--SIZING YOUR PRE-FLOP RAISES--
Relates to the previous chapter. Sklansky rejects the "raise a standard amount always" theory and gives a compelling argument as to why and why different hands require differently sizes raises. He then goes on to list examples of "big pot" hands and "small pot" hands and how much you should raise facing different opponents. A very important chapter.
--A PRE-FLOP STRATEGY--
Sklansky emphasizes how tricky this chapter and how it is NOT meant to be a "one strategy to rule them all" but simply a guideline to newer players who can feel lost as to what to do pre-flop. The strategy is quite solid (similar to mine - especially online) but perhaps looser than many would expect. For example, Sklansky's recommendation for playing all pairs, all suited connectors and all suited aces even in early position.
--ADJUSTING TO STACK SIZES: AN EXAMPLE--
A good illustration of how stack sizes changes the way you play a hand.
--BLOCKING BETS--
A good chapter on using blocking bets and how to work them into a balanced strategy. I admit I don't use them enough even though they can be very effective against passive players.
--THE CALL BLUFF--
Another good chapter on an often ignored concept. It's a play I use a lot and I think Sklansky is right for bringing some attention to its meta-game strategic value because if you work it in with slowplays and legitimate calls you invariably keep out of position opponents on their heels.
--CHECK RAISING--
A genuinely weak chapter as Sklansky says the concept is too complex to analyze before the river and its use on the river isn't terrifically elaborated on either.
--BETTING YOURSELF OFF A HAND--
A very interesting chapter on the concept of semi-bluffing when in position before the river. Sklansky illustrates what situations are best for bluffing and which are best for checking behind hoping to either stack your opponent if you hit or make another hand that might still be best. This is another concept which has helped my game a huge amount.
--BLUFFING WITH A FAIRLY GOOD HAND--
Another interesting concept showing how you should sometime bluff (or value bet) with hands that are 'fairly good' but vulnerable and likely to be beat or be best. Sklansky acknowledges that traditional wisdom says you check these hands, but in NL they can often have more value as bluffs or value bets.
--PLAYING STRONG DRAWS ON THE FLOP--
A common dilemma in NL: You flop a strong draw like a flush with inside straight draw and are facing a bet - do you move in/raise or just call? Sklansky skillfully breaks down the situations and illustrates what concepts you should consider (stack sizes, number of outs, opponents' tendencies) before making the decision. Another very useful chapter.
--MULTIPLE LEVEL THINKING--
An illustration of how thinking effects how hands should be played and, for example, when you should call a possible bluff. Not the best chapter, but a good example of the concept.
--SWAPPING MISTAKES--
An exposition on how NL is a game of making the right mistakes to capitalize on opponents' mistakes and how knowing the fundamentals allows you to constantly adjust your game to the best strategy while falling back on the basics when necessary.
--ADJUSTING TO LOOSE GAMES & PLAYERS AND ADJUSTING TO WEAK TIGHT GAMES--
These two chapters may have among the biggest impact in how you approach these types of games/players in the future. Both Sklansky and Ed illustrate how you should adjust to these games to make the greatest profit. These two chapters are invaluable to players who play in games that fall into these categories.
--THE ADVANTAGE OF BEING SHORT STACKED--
A very unorthodox chapter that ignores traditional wisdom about the evils of playing short stacked. Sklansky illustrates why it may actually benefit certain players and what you gain by it. I must say that I've tried the strategy online and consistently seem to come out loser; but it's as likely my failure as Sklansky's as the chapter isn't a detailed strategy of how to play a short stack game but a defense on why it's not inherently bad.
-CALLING PRE-FLOP ALL IN RAISES--
An invaluable chapter to tournament players especially who will face many all-ins and not know what hands to call with. Sklansky offers a chart based on players' move-in tendencies (Very Tight, Tight, Average, Loose, Very Loose, Any Two) and what hands you should call with with what odds (offering 6:5, 3:2 and 2:1 as examples).
--THE SKLANSKY-CHUBUKOV RATINGS--
An interesting chapter about the prospect of moving in with hands pre-flop in comparison with stack sizes and when it can't be wrong. I admit I have yet to use this chapter though the concept is quite interesting.
--SOME PRE-FLOP HEADS UP MATCHUPS--
Compares the equity of hands heads up; a relatively useless chapter to anyone who knows these odds or anyone who's seen enough TV poker or experimented enough themselves to figure them out.
--MANIPULATING YOUR OPPONENTS--
A light overview of ways to manipulate your opponents into playing bad. Most of this information is obvious and not particularly enlightening.
--TELLS--
Much like the last chapter.
--CONCEPTS AND WEAPONS--
This is a "quick-fire" section of 60 concepts that cover all kinds of different topics. This is more of the "practice" section of the book even though it often recovers some concepts of the previous chapter. It's actually a great section full of lots of great advice and, well, concepts. Definitely something to come back to many times.
In conclusion if you're looking for ONE NL book to make your bible it can only be this one. My copy is torn and bent and mashed and creased to hell, which is something I generally HATE to do with my books, but this one has been so useful it almost feels good to have such a torn book as it reflects how good it is to have been used so much.
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