In Texas Hold’em, the value of position is quite obvious. As a player, you want your opponents to decide before you, so that you can have the final say. In Hold’em, no player has an absolute advantage over the rest. The decisions you take are based on any little advantage that you get to outplay others to win the pot. Although a superior position by itself can’t help you win a game, it can certainly help you make better bets. It is the familiarity of the situation that gives you the edge over your opponents.
Position in Texas Hold’em is a simple concept. If there are two players in a pot, you would want to be the last. You always have a positional advantage when you are seated first or second behind a maniac, or in front of him. All good players have the tendency of playing more hands in the late position and far less hands when they are in an early position.
Position in Seven Card Stud and Stud High-Low is different from Hold’em. Here, positional advantage tends to vary. The highest board showing acts first, starting from fourth street. Hence, if a king high bets first on fourth street, another player with an ace or pairs deuces might act first on fifth street. You might still have an advantage over the player to your immediate right. However, positional considerations in stud games are not as simplistic as in Hold’em. Some hands are more playable if you are not the high hand, while representing a hand is a lot more important when you act first. Certain hands can be played more aggressively if another player shows a king or ace, which means they are more likely to be forced to act first all through the hand.
The greatest difference in positional advantage is between Omaha Hi-Lo and Hold'em. If you are seated last you have some general advantages, but there are certain disadvantages too. For example, if you are bluffing from the last position, you are committing suicide against good players. You just cannot bluff when you are in the last position. Middle position is the most important bluffing position in Omaha, but it is rarely advantageous in Hold'em.
Positional advantage is a key skill that Hold’em players need to develop when they are looking to move to other games. Position offers you significant advantages in a game, so do not trivialize it.