David Sklansky's Theory of Poker
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Sklansky's Theory of Poker is not an easy read, but it is one the fundamental books of modern poker
When big name professional players are asked what books they reccomend, the one that seems to crop up all the time (after their own) is The Theory of Poker. The third edition of this book might have been published in 1989, but it is still one of the absolute best books out there.
Theory of Poker is often recommended by lesser known pros too. People whose names you have never heard, but who consistently beat four or more tables of 15/30 on the Internet for a big bet an hour. I did a quick survey of my acquaintances, and TOP (it's so popular, it's got an acronym) appeared on about 3/4 of people's top three lists.
This is not a particularly easy book to read, David Sklansky has a brain the size of a planet, and sometimes struggles to communicate with us mere mortals. The man pretty much owns poker theory though, so anyone with even vague ideas of being a serious player should read this book.
I have pretty much worn the cover off my copy and I am still finding useful insights. This book covers it all, from the fundamental theorem of poker (and what it actually means in practical terms). Sklansky also brings up such powerful ideas as the value of deception, principles of bluffing, why you should probably raise more than you are now, when to slow-play, the value of position, psychology, heads-up play, game theory, implied odds, the free card, and semibluffing.
It's not a beginner's book, but it's pretty much essential for anyone who wants to progress beyond a low-intermediate skill level.
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