Re: \"Value Bet\"?
Well, it only has intrinsic value for betting on the river if someone calls with a less hand or someone folds a better hand.
But I prefer your definition, where "value betting" is based on the showdown equity of the hand and NOT on other issues such as "free cards" or "semi-bluffing" or strategic reasons such as "setting up a bluff later". Basically "value betting" would be "betting a good hand". I proposed that notion a couple years ago here and got shot down pretty bad, being a "revisionist" etc.
That notion has the pretty big benefit that you can identify most kinds of bets. With the current definition you need a separate category called "protecting your hand" where its probably good but won't get called unless its beat (raise PF with KK flop an A heads up: the tight player isn't going to call unless he has and A, but you should often bet anyway. But that violates the current "value bet" rational).
- Louie
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