Strategy of Run it Twice (NLHE)
edited September 2014
Local casino just added "run it twice" for NHLE and PLO when heads up.
Any one have strategy on when to do this for NLHE?
The math says it does not matter. All it does is lower your variance. You flip a coin 10 times, anything can happen. Slip it 20 times and it is more likely to act 'fairly'.
There might be some psychological side of this, however. I know some people refuse to run it twice because the swings hurt the Villain more than it hurts Hero. Mathematically, running it twice means that you will reach the 'long term' sooner. It keeps the game 'friendlier' to run it twice. Refusing to run it twice might make Villain less likely to make crazy bad calls.
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One thing I suggest, as a huge nit, is to privately ask the floor if they take any extra rake when running it twice. I've seen some rooms take full rake on both boards...which is gross.
If they don't take additional rake, I always run it twice. Hurray long run!
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I play in a half plo/half nlhe game where we are normally 300 bbs deep ar least. As you can imagine, running it is a normal feature of the game and keeps it going, perhaps. However, there are a few twists you may encounter, the most important being that regs who know they run it often end up shutting others out of the pot, almost bordering on a very subtle collusion. If i were you, i would never run it twice for this and other reasons.
In first approximation, I will say that I don't believe it matters much, except if you are particularly negatively affected by variance.
Beyond that, I think it's fairly complex whether to run it once or twice. In general, I think you should run it twice with recreational players and run it once with pros/regs. I think the running it twice with recreational players is a lot more important than the running it once with pros/regs.
The short explanation for why to run it twice with rec players is that variance is their friend. If they double up, they may cash out a winner. If they bust a stack, they will often just leave. Run it twice with them and they'll likely play a little longer.
Run it once with pros/regs to needle them. Some will get really angry with you and lecture you about variance, which is the desired result. If you feel like being a nice person though you can run it twice with them too.
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