In poker, "position" refers
to whether you act before or after your opponent. Acting first reveals
information, so it is harmful to your chances. However, the degree of harm is
far from uniform across the full spectrum of hands. So-so hands are hurt more
than hands that normally have a clear strategic plan, such as monsters or junk.
Flop a set, and you can usually bet and keep betting. If you miss the flop
completely, how bad can it be to check and fold? Of all the various hand
categories, drawing hands are hurt more by bad position - and helped more by
good position - than any other hand type. Let's take a closer look at some
concrete situations after the flop with drawing hands, and see the interplay
between a drawing hand and a made hand.
Some people take
it as a cardinal poker principle that a drawing hand does not want to be all in,
so it can have the leverage of being able to bet for value or run a bluff. This
is a valid idea when there is only one card to come, but may not apply when
there are two cards to come. To understand the situation properly with two cards
to come, let us look at the game of seven-card stud low (razz). If after five
cards one player is drawing to a wheel and the other has an 8-7 low made, the
draw is a slight favorite, and would like to be all in at the point when there
are two cards to come. However, in pot-limit, if there is a reasonable amount of
money left to bet, the made hand can get a money edge with the correct and
obvious strategy. If the draw hits, the made hand folds. If the draw misses, the
made hand bets the maximum. Now, to stay in, the draw has to put a lot of money
into the pot to see the last card at a point where it is a substantial underdog.
The point is, the made hand can get the advantage over the draw by patiently
seeing one card.
Let's look at a similar type of situation in no-limit hold'em. Here is an
open-book test: The pot is $100 and both you and your opponent have $400 left.
You have top pair and your opponent is drawing. He acts first and bets the pot
($100); what strategy should you adopt if each of you can at this point now see
each other's holecards? The proper answer is found by counting the outs. If the
made hand will be better than a 2-to-1 favorite with two cards to come, you can
lock up the pot by moving in on the flop, as the money odds offered to the draw
when a pot-size bet is made are exactly that amount. However, if the made hand
is less than a 2-to-1 favorite, the better play is to see what comes on the
turn. If the draw hits, you fold. If the draw misses, you move in. This is a
good illustration of the scenario that the draw wants to avoid.
Naturally, in a poker game, you are not playing open-book. The knowledge is
imperfect. However, the opponent is usually going to adopt the normal strategy
of betting big if the draw does not come in and the hand acting first checks.
That is the most important reason why the draw would much prefer to act last; he
will not have to show weakness by checking the turn (or risk betting big when he
is a substantial underdog because there is only one more card coming).
Another situation in which you would much prefer to have position is when you
have a straight draw and there is a flush draw on the board. The idea, of
course, is to represent the flush if it comes. Doing this is safer when the
opponent checks after the flush arrives than firing from front position, praying
that you are not representing the opponent's hand. In this type of situation, I
prefer to be facing the preflop raiser, who still may be betting his starting
hand, than someone who called on the flop, indicating that the boardcards fit in
with his starting hand.

The above discussion was to show how a draw benefits from good position. Your
starting-hand selection should put this knowledge to work. Each starting hand
has a distinct character. Any hand can turn into a made hand after the flop, but
it is easy to see which hands are more likely to become a draw. I am referring
to small connecting cards and a small suited ace.
You should not play small connectors from the small blind. Being halfway in is
not sufficient reason to play a weak draw-builder from the worst position at the
table. I admit to putting the other half of the bet into the pot in unraised
pots with any suited ace, because the nut flush is a potential double-up hand.
However, I do not play either of these hand types from early position.
Your position affects the size of your preflop wager. I bet a bigger amount if
out of position, as even when I have a fine starting hand, just winning the pot
is not a bad result. My normal raise or reraise is the size of the pot. However,
if I am in the blind, I overbet the pot size, usually by about 20 percent or 25
percent. I have the same attitude when I open-raise from the small blind, where
I prefer to open for four or five times the big blind, rather than just tripling
it. Time and time again, we see a player with aces or kings "look for action" by
wagering a small amount, even when out of position. If the opponent is able to
outflop a big pair, he will win a large pot, and maybe even double up.
With good position and deep money, I am willing to call a preflop raise even
with small connecting cards, as long as the raiser is not on my immediate right.
The best position is when you are on the button with several players in the pot,
and one of the blinds puts in a large preflop raise. That person figures to have
a hand that's strong enough to make a continuation-bet, which will middle the
whole field. If I can catch a good flop, the chances are bright for winning a
big pot. If you are in position, you can take a chance playing those connectors
and other marginal holdings.

