In this week's newsletter we discuss Gold Chips and how to use them.

You have started to generate Gold Chips and you possibly have picked up a few Gold Cards along the way. I am sure you are asking yourself, what can I actually do with them? Both have tons of advantages and I have outlined a few below.

Gold Chips are handy and there is never a moment that you can't use them in the poker room. Open the Tournaments tab and click the Gold Chips and Cards tab. Here you can see the full list of what's available. Be sure to look out for the Sit 'n Go Gold Chip Lover tournaments as the prizes are more Gold Chips. If you were looking to enter a Gold Chip Freeroll where the prizes are cash but you need 15 Gold Chips to enter, use a Sit 'n Go to win more Gold Chips. Remember, the number of Gold Chips you can generate in a month is unlimited. Look under the 'Rewards' section for your Gold Chip count. Click here to find out how you can generate Gold Chips.

For more information on Gold Cards make sure you read our next Poker News email. Remember, if you miss a Newsletter, we save them on the website - click here for the News Archives.

Playing Drawing Hands

Playing drawing hands are tricky in multi-way pots. You will want to see flops which are cheap but make sure you know when to fold. The following sample hand has been taken out of the new Harrington on Cash books and illustrates what you should be thinking about when playing drawing hands. It's a great real life example to reference when you find yourself in similar situations.

Click here to go through the sample hand.

The WSOP USD12,000 final runs every Sunday at 5pm ET. For USD200+15 you can buy-in directly, but there are a few other ways to win a seat into the Sunday tournament.

1. Daily USD7+0.70 R&A Satellites
2. Daily 7 Gold Chips R&A Satellites

Every Sunday we also have a USD40+4 WSOP SEMI-FINAL that starts at 2:30 pm ET. One player for every USD215 in the prize pool advances to same day Sunday Final at 5pm.

Check the tournament lobby for the full schedule.

Check out our range of sports betting markets for this year's World Series of Poker!

You are at a medium stakes online game ($2/$4). You have just started playing so you have no read on the table. Your hand is 7d, 5h.

Action to you: Player A calls $4. Players B and C fold. Player D calls $4. Players E and F fold. The pot is now $14.

Do you fold, call, or raise?

This is a good enough hand to limp on the button. You want to see cheap flops with connected or moderately connected cards, and seven-five offsuit is suitable for that purpose. It's not exactly a mistake to fold, but in no-limit cash games you need to see cheap flops!

Action: You call $4. The small blind calls $2, and the big blind checks. The pot is now $20. There are five players and you will be last to act.

Flop: Kh, 8s,6s

Action: The blinds check. Player A checks. Player D bets $16.

What do you do?

This is a dream flop for your hand, right? Wrong. You need to fold here despite your open-ended straight draw. Three factors are now working against you:

1. Expressed odds: Player D made a big bet, 80% of the pot. The pot is now $36, and you need to put in $16 to call, so you are only getting odds of 2.25-to-1, not so good for a straight draw. If you have eight outs, you're a bit less than 5-to-1 to hit on the turn, and 2.2-to-1 to hit if you get to see both the turn and the river.

2. Outs: How many outs do you really have? The 9s and 4s give you a straight but put three spades on board. That's bad for two reasons. Not only might someone have made the flush and beat you out of a big pot, but if the 9s or 4s arrive and fills your well-concealed straight, you may not get paid because everyone suspects you of having made your flush! Your eight apparent outs should more realistically be counted as six and seven, making your odds to the winning hand even worse.

3. Position at the table: No one has folded yet, so three more players remain to act. Any of them could raise, knocking you out of the pot.

Action: You fold.

Source: Robertie, B. and Harrington D. (2008) Harrington on Cash Games Vol. 1, Nevada, Two Plus Two Publishing LLC.

Congratulations to 'Rommel C' for winning last week's chips. Play poker in the next 24 hours and stand a chance to win a free entry to any Gold Chip Lover (10 chips) Sit 'n Go. All players that play cash games will be entered into a draw and the winner will receive the free entry. Shuffle up and deal!