From what I understand, at the WSOP if you reveal information about your hand, you CAN be penalized at the directors discretion. I dont believe its mandatory, but just like folding out of turn, it's looked down upon regardless. Im pretty sure this goes for both if you bet and an opponent is considering action, or if an opponent has bet and you are considering action and are trying to get a read. The penalty would probably vary based on the circumstances, but at the WSOP they do have the option of enforcing it should this occur.
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