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1) In a big
bet game, a bet made after the draw in a draw game, or in a vulnerable position
in a stud or hold 'em game, to avoid having to call a larger bet from a
potentially better hand or from a possible bluff. For example, in no-limit
lowball, a player opens for $4. Another player raises $25. The first player
calls and draws one card, while the other stands pat. The first player catches
an 8, to make an 8-6. He does not want to check, because, with the sevens
rule, if the other player has a 7 or better, she might bet a lot, knowing
she cannot possibly lose. So the first player now bets $4. That is a protection
bet, because the other player will likely not raise with a hand (like a
rough 7) that would be a cinch if the first player had not bet. Also underbet.
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