A big bet can defined as a bet that is close to pot-sized or larger. It’s rare to see a bet bigger than the pot from experienced players, unless it’s an all-in bet or a bet made to set another player in. Making big bets (also known as overbets) doesn’t make sense in most situations, because if you’re trying to get paid there comes a point where your opponent will only call if you’re in dire trouble. Making big bets to bluff is often a mistake because you’re risking more chips without changing the result (in most cases). That is, you could have made a smaller bet and achieved the same number of folds. That’s not to say there aren’t times when big bets aren’t a valid option though.
Using big bets to your advantage
Big bets can be used to gain maximum value when you run into a drawing hand and think your opponent will pay over the odds to continue. Let’s say the pot is $100 and a normal value bet would be around $70. In this spot if you make a value bet of $140 you need to get called half as often to make the same money. Therefore if you are in a hand or against an opponent where it seems that the size of the bet is not the key factor as to whether they’re calling or folding, you should often be betting more. In fact, your value bet should be as big as you think possible without strongly affecting how often you get called. This price will vary depending on the hand and your opponent. After all, if you would have been called for more than the amount you actually bet, that money is coming straight off your profits.
Over-bluffing
The other use of overbets is as an act of raw naked aggression when it’s a bluff you think your opponent just can’t call. This is particularly useful in tournament situations when a player sets another player all-in for more than the pot, either because he has a stack a bit bigger than the pot or the bettor thinks his opponent can’t make the call ‘for his tournament life’. Here’s an example of one of the best in action, as Tom ‘durrrr’ Dwan forces his opponent off the winning bet by making a bet he just can’t call despite suspecting he’s ahead.
Read part II