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GCP.NET QUICK EDITORIAL 3.15.08:
SHOW ONE... SHOW ONE... COMMON SENSE TAKES HOLD AT SHOWDOWN
Harrahs has reversed fields, partly at the recommendation of the TDA (Tournament Directors Association), partly from the public and private campaigning by players such as Daniel Negreanu, and mostly just poker common sense taking hold. Now... show one card no longer means mean show all (or both cards). Which is the way it should be and the way it used to be.
The "show one, show all" only recently was expanded to the point that it was actually two rules. Originally editorial continuedit was the trite way of saying, that guy got an extra snippet of information so we are all entitled to it: ie a player shows a neighbor his hole cards as he folds, after the hand, therefore everyone is entitled to see it (show one, show all). Recently that was commonly being misapplied to suggest that showing one of the hole cards means you have to expose both of the hole cards.
Perhaps, angle shooting and information seeking pros realized they could confuse dealers and TDs alike by saying "Show one... Show all" if one player flashed the table one of his cards. Of course this was said enough, and wily players said it plenty... so it became a new rule. Then, this de facto rule became a literal rule. Yes, people put the misapplication of the rule in writing which would be like Alaska putting into writing going the speed of traffic, even if over the speed limit, isn't speeding. It used to be after a bluff maybe after an opponent made the correct lay down, players could show one of their hole cards usually the one that suggest his holding wasn't as strong as he was representing to get an edge.
For example, with two Kings on the board, a winning player flashes his queen but never shows his king after the losing player folds to his raise. This power of the needle was denied when the "Show one, Show all" rule was misapplied and a player could request to see the other card. Congrats to Harrahs for changing the rule back to what it should be.
The latest rules are here: WSOP 08 Rules