Why being first-in is sometimes better
 

Two almost identical hands. The main differance is position.

(Sorry, this is AP - so no convertor available. Had to do it by hand).

Hand1:

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STAGE #195335428: HOLDEM NO LIMIT $0.50 [ 2005-09-28 16:25:29 ]
Seat 1 - MP $62.50 in chips
Seat 3 - CO $72.30 in chips
Seat 4 - BUTTON $94.82 in chips
Seat 5 - HERO $205.87 in chips
Seat 6 - BB $98.60 in chips
Seat 7 - UTG $145.46 in chips
*** BLIND [dealer 4] ***
HERO - Post small blind $0.50
BB - Post big blind $1
HERO - Pocket [A[img]/images/graemlins/spade.gif[/img],A[img]/images/graemlins/heart.gif[/img]]
UTG - Raises $1 to $2
MP - Folds
CO - Folds
BUTTON - Folds
HERO - Raises $1.50 to $7
BB - Folds
UTG - Calls $5
*** FLOP [7[img]/images/graemlins/heart.gif[/img],5[img]/images/graemlins/club.gif[/img],A[img]/images/graemlins/club.gif[/img]] ***
HERO - Checks
UTG - Checks
*** TURN [7[img]/images/graemlins/heart.gif[/img],5[img]/images/graemlins/club.gif[/img],A[img]/images/graemlins/club.gif[/img],A[img]/images/graemlins/diamond.gif[/img]] ***
HERO - Bets $5
UTG - Calls $5
*** RIVER [7[img]/images/graemlins/heart.gif[/img],5[img]/images/graemlins/club.gif[/img],A[img]/images/graemlins/club.gif[/img],A[img]/images/graemlins/diamond.gif[/img],2[img]/images/graemlins/heart.gif[/img]] ***
HERO - Bets $5
UTG - Raises $5 to $15
HERO - Raises $10 to $33
UTG - Calls $18
*** SHOW DOWN ***
HERO - Show cards [A[img]/images/graemlins/spade.gif[/img],A[img]/images/graemlins/heart.gif[/img]]
UTG - Lost mucks
*** RESULT ***
Total Pot($91) Rake ($3)
Board [7[img]/images/graemlins/heart.gif[/img],5[img]/images/graemlins/club.gif[/img],A[img]/images/graemlins/club.gif[/img],A[img]/images/graemlins/diamond.gif[/img],2[img]/images/graemlins/heart.gif[/img]]
MP - Folded on the POCKET CARDS
CO - Folded on the POCKET CARDS
BUTTON - Folded on the POCKET CARDS
HERO - Total ($88) HI:($88)Four of a kind, Aces [A[img]/images/graemlins/spade.gif[/img],A[img]/images/graemlins/heart.gif[/img] - P:A[img]/images/graemlins/spade.gif[/img],P:A[img]/images/graemlins/heart.gif[/img],B:A[img]/images/graemlins/diamond.gif[/img],B:A[img]/images/graemlins/club.gif[/img],B:7[img]/images/graemlins/heart.gif[/img]]
BB - Folded on the POCKET CARDS
UTG - HI: [Lost mucks]
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Hand 2:
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STAGE #195295523: HOLDEM NO LIMIT $0.50 [ 2005-09-28 14:58:23 ]
Seat 1 - CO $149.25 in chips
Seat 5 - HERO $190 in chips
Seat 6 - SB $39 in chips
Seat 7 - BB $113.31 in chips
Seat 8 - UTG $32 in chips
Seat 9 - MP $233.35 in chips
*** BLIND [dealer 5] ***
SB - Post small blind $0.50
BB - Post big blind $1
HERO - Pocket [Q[img]/images/graemlins/spade.gif[/img],Q[img]/images/graemlins/heart.gif[/img]]
UTG - Folds
MP - Calls $1
CO - Folds
HERO - Raises $1 to $5
SB - Calls $4.50
BB - Folds
MP - Calls $4
*** FLOP [3[img]/images/graemlins/club.gif[/img],Q[img]/images/graemlins/diamond.gif[/img],8[img]/images/graemlins/heart.gif[/img]] ***
SB - Checks
MP - Checks
HERO - Checks
*** TURN [3[img]/images/graemlins/club.gif[/img],Q[img]/images/graemlins/diamond.gif[/img],8[img]/images/graemlins/heart.gif[/img],Q[img]/images/graemlins/club.gif[/img]] ***
SB - Checks
MP - Bets $3
HERO - Calls $3
SB - Folds
*** RIVER [3[img]/images/graemlins/club.gif[/img],Q[img]/images/graemlins/diamond.gif[/img],8[img]/images/graemlins/heart.gif[/img],Q[img]/images/graemlins/club.gif[/img],4[img]/images/graemlins/heart.gif[/img]] ***
MP - Checks
HERO - Bets $6
MP - Calls $6
*** SHOW DOWN ***
HERO - Show cards [Q[img]/images/graemlins/spade.gif[/img],Q[img]/images/graemlins/heart.gif[/img]]
MP - Lost mucks
*** RESULT ***
Total Pot($34) Rake ($1.70)
Board [3[img]/images/graemlins/club.gif[/img],Q[img]/images/graemlins/diamond.gif[/img],8[img]/images/graemlins/heart.gif[/img],Q[img]/images/graemlins/club.gif[/img],4[img]/images/graemlins/heart.gif[/img]]
CO - Folded on the POCKET CARDS
HERO - Total ($32.30) HI:($32.30)Four of a kind, queens [Q[img]/images/graemlins/spade.gif[/img],Q[img]/images/graemlins/heart.gif[/img] - P:Q[img]/images/graemlins/spade.gif[/img],P:Q[img]/images/graemlins/heart.gif[/img],B:Q[img]/images/graemlins/diamond.gif[/img],B:Q[img]/images/graemlins/club.gif[/img],B:8[img]/images/graemlins/heart.gif[/img]]
SB - Folded on the TURN
BB - Folded on the POCKET CARDS
UTG - Folded on the POCKET CARDS
MP - HI: [Lost mucks]
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In both cases I turned the quads. In both cases I slow-played the flop. But what a differance in the payout.

In the first hand I got the chance to bet out on river and be raised and then re-raise.
On the second hand, being last I had to tread more carefully. Check-raising the turn would have killed the hand.

On the first hand, my river bet induced the raise I wanted. This was not going to happen on the second hand once he had checked to me.

I'm sure I could have made more from the second hand by betting a bit more on the turn. However, at the end of the day I still feel that in this case being first-in was FAR better.

One more point.
In both hands I think I would probably have got a lot more hand the board NOT paired.

Any guesses what the villains had?
Any comments?