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The levels are definitely different. At 50 NL the play is generally tight and there is a little more raising pre-flop. It's pretty easy to make money in a slow but steady fashion by playing ABC poker. At 100 NL things are pretty aggressive and wild; a lot of pots are raised pre-flop and you either have to be aggressive yourself, or be willing to always play the snake in the grass. At 50, most bets mean the bettor has the goods (except for the standard continuation bets on the flop from a raiser). At 100, you have to seriously consider the possibility of a bluff, especially if it's a big bet on the river. It's almost common practice for people to bet busted draws. I'm not saying call every big bet, but if you know an opponent is capable of it, mix in some calls to keep them honest.
A few interesting things about 100:
- People call continuation bets all the time with marginal holdings. Smackin and I have learned this the hard way, so expect it. You raise with AK pre-flop and get called, the flop comes out 379 rainbow, you bet 3/4 of the pot - and get called. This happens a LOT. To the degree that I don't use continuation bets as much as I did in the lower stakes games. I sometimes check my unimproved AK. Also, my continuation bets now tend to be an all or nothing affair; I either bet the full pot or I just check. There are plenty of guys at this level calling your pre-flop raises with 78o and thinking that middle pair is good. Or they have a low pocket pair and just call you to the river with it, regardless of the board. It's an epidemic. At 25 or 50 NL, continuation bets almost always result in folds; at 100 it's unpredictable.
- Ace-anything is a raising hand for a lot of guys at this level, especially in position. They use position a lot and raise Ax, Kx, any pocket pair, you name it. You either have to be willing to call these raises with decent hands like ATo, or you have to re-raise with hands you'd normally consider just a calling hand with a raise ahead of you (AQ, AJ, pocket 9s, stuff like that).
- There is a funny dynamic of overbetting and stupid calling. There are fish calling any bet with any draw, up to and including obvious flush draws and gutshots (I never saw as many players chasing gutshots at the lower levels). The decent players have reacted to this by overbetting the pot every time they have a decent hand; you'll see people betting $5 on a $2 pot with middle pair, or $15 on a $10 pot with overcards. It's crazy. Then the final part of the circle is that a lot of players get sick of the overbetting and call with their draws out of obstinence (I've been guilty of it myself, when I had a good straight draw or something and someone was aggressively overbetting an obvious top pair). All in all, there's a lot of really weird chasing and heavy betting going on, and very often you'll find yourself putting half your stack up for grabs on a fairly routine hand. As a result, variance at this level can be really high. Implied odds become more important. Chasing flushes is still dumb but straights can pay off very handsomely because of all the aggression.
- Everybody min-raises and check-raises flush draws. Let's say the board comes out with two spades on it and you have top pair, and you bet $2 on a $3 pot. Then some guy raises you another $2, possibly after checking before you. This man has two spades in his hand. That will be true like 70% of the time, maybe more. I find myself re-raising decent hands aggressively all the time just to extract money from the flush chasers. If they don't hit it on the turn, I'm often going all in to make them pay.
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