Thanks for all the comments on What’s Your Play? Suited Broadway on the Flop. Thanks also to Vookenmeister for pointing out that I forgot to add the big blind to the pot. Not that it makes a huge difference, but with a $5 rake and a $1 bad beat jackpot drop the pot would be $151.
Pre-Flop Ranges
Don’t get too bogged down in trying to assign exact ranges to each opponent. It’s mostly guesswork, and I don’t think precision will greatly influence the correct play in most situations anyway. Do recognize, though, that the absence of a four-bet greatly reduces the likelihood of either of these players holding KK, AA, or AK. I’m less comfortable making assumptions about what AQ, QQ, or anything weaker would do, but I’m not too worried about running into an overpair here.
UTG’s range is surely wider than it should be (then again, who knows what a range for limping UTG and then cold calling a 3-bet “should” look like), but it may be stronger than you think. Even loose players usually have some standards for cold calling 3-bets.
I doubt UTG2 has much of a folding range considering the odds he’s getting once the action is back on him.
Hero’s range probably looks stronger than it is, because this was an exploitive three-bet. If it weren’t for the reads and sizing tell Hero acted on, he wouldn’t be three-betting this wide, and presumably the other players don’t recognize those features of the situation and so will give Hero more credit than he deserves. So although Hero may in fact have the most air-heavy range of the three, I still want to play the hand aggressively.
Bet Sizing and Barreling
We’re only on the flop, but with an SPR of less than four, we have to think about whether and how to put stacks into play. There are a lot of arguments for planning to fire multiple barrels at this pot. As I argued above, both Villains likely have a lot of medium strength hands but very few hands they’ll be comfortable playing for stacks. Their ranges consist mostly of good but not great bluff-catchers, and they’re likely to overestimate Hero’s strength. That along with Hero’s backdoor draws all argues for barreling a lot of runouts.
There was a lot of agreement about betting the flop, but not much consensus on sizing. Commenters advocated anywhere from $80 to $140, and a lot of people seemed to be just throwing out a number without a lot of justification for it.
This is why it’s so important to think ahead and think about your entire range. You need to decide whether you’re going to try to bet flop and shove turn with your strongest hands, or whether you’d rather break the betting over three streets. Then you need to construct a bluffing range that at least balances those bets, though in this case I’d want to be weighted towards bluffs anyway.
This is a relatively static flop. A few specific turns will do a lot to improve formerly weak hands, but most of the time the strongest hands on the flop will still be among the strongest hands on the river. That argues for more, smaller bets.
In Mathematics of Poker, Chen and Ankenman demonstrate that in a completely static game with no raising, the optimal strategy is to bet the same fraction of the pot on each street such that your last bet is all-in. Those conditions don’t quite hold here, but they are close enough to make this strategy worth following in my opinion.
I set up a spreadsheet to help me solve this, and it turns that if force ourselves to bet in increments of $5, the closest we can get is to bet $75 on the flop. This assumes we bet and get a single caller, which is a far more likely outcome than getting two calls. If the latter happens, we’ll just cross the bridge when we come to it.
Counter-Arguments
My suspicion is that some people will be uncomfortable with this sizing because it seems small and thus could be perceived as weak. But how, really, can our opponents respond to that? They can either check-raise bluff or they can call light.
We can protect against the possibility of excessive check-raise bluffing simply by having appropriate calling and re-bluffing ranges. It’s not a reason to bluff less often or with a larger size, just a reason to defend more after betting.
As for calling light, I agree that quite possibly neither player will fold a pair or a draw to the flop bet. It’s true that a larger size will get you more folds, but then again it needs to get more folds, because it risks more.
It’s not obvious to me that getting called by 99 on the flop is such a bad thing. Not only does Hero have pretty decent equity against that hand, but it’s a hand that’s not likely to go to the felt unimproved, so as long as aggressive barreling is in the works, Hero may actually prefer for 99 to call rather than fold.
This I think is very pertinent:
“You need to decide whether you’re going to try to bet flop and shove turn with your strongest hands, or whether you’d rather break the betting over three streets. Then you need to construct a bluffing range that at least balances those bets, though in this case I’d want to be weighted towards bluffs anyway.”
Right, onto the turn…