An overbet is a bet that is significantly larger than the current size of the pot in no-limit games.
Players who are bluffing may choose to overbet the pot in order to make it that much less likely that anyone would call.
If you are almost certain you have the worst hand and you are very confident that only a bet of this particular size will get your opponents to fold then the overbet is the proper amount to bluff.
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When you bluff, you want to make sure that you are betting the smallest amount
necessary to guarantee that no other player will call.
Also players with a very strong hand may overbet the pot in order to make it seem as though they are bluffing or to make the maximum amount from a caller who is certain to call any bet, but is also certainly beaten.
Overbetting can be solid strategy if you are almost certain that you have the best hand and you are almost certain that one or more players will call your overbet as you make more money by betting more.
However, you must be extremely confident of both facts. If you are wrong about either one, you cost yourself a significant amount of money.
Overbetting aimlessly is poor strategy as any caller who could call a bet that is the size of the pot, could probably also call a bet that's twice the size of the pot.
If your bluff is going to succeed, it would succeed with the same frequency, but you would risk fewer chips.
And if you have an extremely strong hand and overbet the pot, you may scare out potential callers who could call smaller bets.
If you are guaranteed to win anyway, why not win more chips as you do so?
You can play no-limit perfectly well and virtually never overbet the pot. It's a tool that's useful sometimes but in those cases betting the pot is typically nearly as good.
But sometimes it's good to front load on the flop with an overbet so the big bets at the end don't look quite so big.
It's typically easier to get overbets in early to build the pot faster than it is to try to sneak them in late when that big bet will be just that much bigger.
Overbetting also tends to be more successful against loose players because they are more bet size-insensitive.
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