It also brings up, although stands somewhat opposed to, the "sunk cost fallacy," which basically says that people tend to keep investing (time, money, resources, etc.) into something because they see how much investment they've already put in, and what a shame it would be to quit the sunk cost fallacy is that, in many cases, it would be wiser to quit when viewing the potential return on your investment, untainted by the past investment. What pot committed really means is: "You have so much invested, that the amount of additional investment to see it through is worth the risk and investment versus just quitting and losing everything so far." It is related to being "past the point of no return," where it's easier to just continue onto your destination than to turn around and go all the way back home. In the second part, the error is in "be forced to bet everything."
The first part, the error is in "that he can no longer fold." In poker, you can fold at any point. I think the above is a poor explanation, specifically this part:Ī player is pot committed or committed if he has already invested so many chips in the pot that he can no longer fold if he is raised all-in. They are stuck having to keep "playing", but with the risk of ending up with nothing. If a law grad loses their scholarships, they can be forced into a difficult situation: they have invested a lot of time/money/effort such that they do not want to quit, yet they may not be able to afford to continue. So, as far as I understand it, pot committed means that somebody can, because of how much they have in the pot, be forced to bet everything they have remaining, and thereafter they have to play to the end, at a risk of losing everything. he can no longer make any more wagers or call any more bets
To bet all the chips one has at the table. The bets he's already made stay in the pot and he The pot is the prize pool consisting of all the bets made in a hand.Ī player who folds lays down his cards and withdraws from the current The linked site allows you to click on individual terms to know what they mean. Many chips in the pot that he can no longer fold if he is raised To understand the term "pot committed" requires an understanding of poker terms in general.Ī player is pot committed or committed if he has already invested so
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