If you've ever busted out of a major tournament holding Ace-King, I feel your pain. In fact, most professionals will tell you that more players get eliminated from tournaments holding this hand than any other. How could this be? How could such a dominant hand, a hand so easy on the eyes (especially if suited) be the downfall of so many players?

Put simply, Ace-King (A-K) is greatly overvalued. It's important to remember that while A-K dominates any unpaired hand pre-flop (A-Q, A-J, K-Q, J-10, for example), it is only about a 2-1 favorite in most cases, a smaller advantage than many novices gives it credit for being. Furthermore, should you be up against a pair, your A-K is an underdog. That's true whether your opponent has Q-Q or even a lowly 2-2. In either case, it is essentially a coin-flip pre-flop, with the pair holding a slight edge.

Position matters greatly when playing A-K. In early or middle position pre-flop, you should come in for a raise, typically about 4 times the big blind. While that raise sounds slightly larger than usual, remember that it's better to win a small pot than lose a big one, which often happens with A-K. In late position, I typically re-raise with this hand if the pot has already been raised by someone in early position. This will allow me to find out quickly where my hand is at. Sometimes, I will take the pot down right here without a fight. If my opponent were to come back over the top of me though, 90% of the time I would fold, fearing he has pocket A-A or K-K.

Now, if my opponent was holding something like A-Q, my re-raise has put the pressure back on him to make a decision. He might correctly decide to fold, or he might call and be forced to play out of position with a hand that could easily be dominated. Even if he's holding a middle pocket pair like 7-7 or 8-8, he is vulnerable should any overcards hit the flop.

Playing A-K postflop is a trickier position to be in, especially if you don't make a pair on the flop. Remember that A-K is a good hand, but none-the-less a drawing hand. If I miss the flop and the action is checked to me, I will usually take a stab at the pot, and try to take it down right there. Should I get called, my opponent will more often than not check again on the turn. I now have 2 options. If I am fairly certain that my opponent called on a straight or flush draw, I will bet big and try to force him out. If I think he already has made his hand, and holds something like pocket 10-10, I will check in this spot and take a free river card to try and pair one of my hole cards.

Remember, do not get overly attached to Big Slick post-flop if you don't at least make a high pair. Some people have great difficulty letting go of this hand, when in reality all you have is Ace high. An extremely loose player who might have called your pre-flop raise with a 6-8 would feel really good about a board of 6-5-4, one that looks pretty safe for you to bet at, though in reality you'd be in a lot of trouble.

Additionally, maintain the discipline to fold a suited A-K if you must. Having your hole cards suited only adds a measly 3% to the strength of your hand pre-flop verses being un-suited, a far smaller advantage than most players think it gives them. Like before, if the flop brings no real draw, get out. However, if the flop brings two spades when you hold A-K of spades, you have some decisions to make. In early position I would check, and allow others behind me to bet. I could then smooth call or come back over the top of them with my nut-flush draw. Should they check behind me, I'll get to see a free turn card.

In later position, I would definitely bet my huge draw though, because this gives me two ways to win. I might be able to win the pot with a big bet now if the action is checked to me. If I do get called though, my opponent will likely check to me again on the turn. Should I miss, I could check or bet in this spot. But by taking the initiative and betting on the flop in late position, I've made myself the aggressor in the hand, and enabled myself to see a free river card should I choose to. Had my opponent been the one betting into me, it would've forced me into a tougher position.

Ace-King is a strong hand, one worth playing and playing aggressively in the right situation. In a cash game that allows you to rebuy, A-K might even win you some big pots if you play it right and know your competitors. But do not fall in love with this hand, especially when you are left holding two high cards after the flop. And should you get knocked out of a tournament holding big slick when your opponent turns over a pair of deuces, don't say I didn't warn you.

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