Let C open with a pair of jacks. Player A calls with a pair of kings. Player B calls with a four-flush. None of them improves on the draw. Bluffing, C bets the limit.
Chances are that B missed the flush.
Thus, by betting under the gun, which would on first thought seem to be a very bad bluffing position, C puts A in the whipsaw, and his bluff is likely to succeed. Of course, B may connect on the flush, but, then, the bluff is a hazardous play under any circumstances. T he big payoff on the bluff comes indirectly, and more or less perversely, not from the mentalities of game theory and strategy, but from a deeper realm of the gambler s psyche. The expert profits on the bluff in an inverse way, at the expense of the poor player and the psychologically chronic loser. Because the poor player, and especially the chronic loser, suspects almost every bet of being a bluff.