The Deal with Acepots
Acepots have gone out of fashion through the years, though they are still played in some clubs.
And most of what has been said about Jackpots--- say, the folly of playing on a small pair--- applies to a fortiori to Acepots.
An Acepot differs from a Jackpot only in that the opener must hold, not a pair of Aces or better.
From this there flow two consequences:
First, the player who opens on the minimum--- the pair of Aces, has a much better chance of starting with the best hand at the table than has the opener of a Jackpot who holds only a pair of Jacks.
Second, the pot may well be sweetened several times before any player is able to open it.
For the first one, the odds are approximately three to one against a player who has only a pair of jacks having the best hand at the table initially; while the odds are three to two on a player who has a pair of Aces only having the best hand.
On the second one, it is roughly even money against any one of seven players holding initially a pair of Aces or better.
In addition, since they don't keep any sort of profit and loss account--- will fail to realize how many chips have been thrown away to offset these occasional successes.
The odds against a small pair beating the opener of a Jackpot are, we know, four to one. The odds against a small pair beating the opener of an Acepot are, roughly, five and a half to one.
If you are last to speak, and the pot, as it stands, lays you better odds than five and a half to one, come in on your small pair.
Otherwise, keep out. If even one player is in a position to raise you before the buy, your gamble isn't worthwhile.
On what hands then, should you play in an Acepot? Answer: on a pair of Aces (never on a lower pair, save in the special circumstances detailed above).
On two pairs, on four to an open-ended straight, if the pot lays you at least five to one; on four to a Flush, if the pot lays you at least four to one.
If you have come into an Acepot on one of the mentioned hands, and are doubled before the buy, should you accept the double?
The answer here depends, on an assessment of the odds which the pot is offering. If you are at last to speak after the double, and the money in the pot is now so considerable that you are still being offered attractive odds, stay.
If that isn't the case, pack up.