Daniel Negreanu

EV is expected value, right?

So every play that you make, you know, it either is going to, in the long run, you know, make you some money or it's just a losing play.

And as a professional, you try to make the fewest amount of minus EV plays you can.

And the only reason you would make these minus EV plays is potentially if you were trying to set up your opponent for something later.

So I might make some minus EV plays so that I can exploit you later.

I'm going to plant seeds in your mind so that I can exploit them later.

So for example, why would players show a big bluff?

What would be the reason for that?

They show a big bluff so that you know they're capable of it.

But maybe in their mind, they're never going to do that again.

But now they think, you know, he bluffed me last time.

Maybe he's doing it again.

But that's what we call like a leveling war because, you know, you can go back and forth with whether or not, okay, this guy might know that.

Like he showed a bluff because he's never going to bluff me again.

So that's where it gets a little…

They go hand in hand, right?

So if in a given situation, right, my range has this many value hands and this many bluffs, okay?

So in theory, if I want to be balanced, you know, this is my range and this is what it looks like.

I'll bet this 50% of the time, bet this 50% of the time.

However, if I know that you...