This is taken directly from pages 246-249 of Phil Gordon's Little Green Book. When he says BOW he's referring to the "Biggest Online Winner" the person who employs this strategy. He doesn't name this person by his real name in his book but he is talking about Spirit Rock AKA Prahlad Friedman.

"According to the branch of mathematics called game theory, his style is unbeatable...Here's the basic philosophy I've seen BOW employ:

1. Get in the pot cheaply.
2. Massively overbet with premium draws.
3. Massively overbet with the nuts of the best hand.

For those who are more mathematically inclined, I offer a very detailed analysis of BOW's play in the following pages.

----BOW'S GAME THEORY----


Consider this example:

After the flop the pot is $500.
BOW has $5,000
I have $5000 and :Ac::Kd:.
The flop comes down: :Ah:
BOW moves all in.



Now, I know that BOW will be on a draw three quarters of the time he moves all-in. In scenario number four above, I'd be crazy not to call him--he's on a gut-shot straight draw for God's sake! I have to call with A-K. But doing so costs me dearly the one quarter of the time(like in scenario number three) that BOW has a monster and I'm drawing nearly dead.
By calling every time, I have no way to win long term. BOW's strategy will, eventually, take all of my money. He'll win $1,448 every four hands we lay this way, or an average of $362 a hand.
Some other bonuses from his strategy:

- After he moves in on his opponents and they call with the best hand, BOW will often bust them with a draw, sending them into a chip-spewing suicide tilt.

-BOW will pick up a ton of chips from the pot when he doesn't get called. IT is very difficult to pick up a hand you'd like to call the $5,000 bet with. For instance, a player with J-J will be "in the lead" in almost every scenario listed above but will be very hard-pressed to call all the chips with that ace on the board. By applying maximum pressure on his opponents, BOW picks up a lot of pots that he his not entitled to win just based on the strength of his hand.

The only real negative to his strategy that I can see is that he will suffer high variance, wild swings in his bankroll. He needs a very large bankroll to paly this way. For example, if BOW moves all-in ten consecutive times witha 35% chance to win, he will miss all ten times about 1.5% of the time, a potential loss of $50,000. Given the amount of time he spends at the table, this should happen about once every few months.
The best way for me to counter BOW's strategy when I have the best hand is to get as much money as possible into the pot before the flop. Pushing even marginal advantages before the flop is vital to beating him.
Another strategy that will crush his play is to be more apt to call with a big draw than with a "made" hand. For instance, if I call his $5,000 bet with :Ks::Qs: against his four potential hands in the table above, my equity soars to more than $7,800!



As long as I have a better draw three out of four times when I call, and have a few outs those times he is ahead, I should be able to beat him. Of course, if BOW identifies the fact that I'm employing this strategy against him, he's very likely to change gears and start moving all-in with only the better hands. Ah, poker is a wonderful game.

While BOW's strategy crushes cash games, it's too volatile to work in tournaments. Survival is the primary concern when there are no rebuys allowed. To his immense credit, BOW does not employ this strategy in tournaments, where he is able to change gears and play a more tournament-savvy style of poker.