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What is Counterfeit in poker?

A situation where a change in the community cards makes it so that a player's previously strong hand is now more likely to be beaten by the opponent due to the community cards. For example, a player holding 76 on 76J2 has two pair, but if the river came a J or 2, their hand would be "counterfeit" as any QQ, KK, AA would now have a better two pair and thus beat them at showdown.
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