West48 brought up some good questions about a hand we played yesterday during the Advanced Coaching. Basically he asked "why fold top pair getting good odds (8:1) on the flop".
Here's the hand.
$0.25/$0.5 Fixed-Limit Hold'em (5 handed)
Preflop: Hero is BB with 8:s, T:c.
MP3 folds, CO raises, BU folds, SB calls, Hero calls.
- Preflop I'm getting 5:1 odds to continue. I expect to have roughly 20-25% equity against these two opponents. Given these two things we're correct in continuing..
Flop: (6 SB) 2:s, 6:c, 8:h (3 players)
SB checks, Hero checks, CO bets, SB calls, Hero raises, CO 3-Bets, SB caps, Hero folds
Spoiler
- I flop top pair and decide to check/raise. The CO (with 5BB left) 3-bets and the small blind does something interesting.
- After just calling the flop bet, the small blind has decided to 4-bet Cap. This is a very strong line.
- At this point I suspect I'm behind one or both players most of the time. So now I need to consider my odds and outs.
- I have 5 undiscounted trip/2 pair outs, but we should discount them.
- The small blind is representing 2 pair or a set and sometimes a slowplayed overpair (like KK). His sets and two pair combos (or top pairs) reduce my outs.
- The SB will occasionally a straight draw. He may also have a weak made hand that he thinks may be ahead of the short stack. Raising is a compelling option to force us off a better hand and improve his winning chances.
- The shortstack is representing overpairs and sometimes strong broadway hands, but given his stack size he's usually on a made hand. He's not quite short enough to decide to spew from preflop with a wider range.
We can expect to have less than 5 outs, perhaps 3 or 4 outs on average. We're getting 8:1. For a break even call at 8:1 we need MORE than 5 outs. At 3.5 outs we need approximately 12.5:1 to call.
To continue with a draw when we aren't getting the right price we need either showdown value, implied odds, or the potential to bluff. Otherwise we cannot profit by continuing in the hand.
We have some showdown value, but getting to showdown will be expensive. After this action on the flop we can expect the short stack to put the rest of his bets in on the turn much of the time. This suggests that we can expect reverse implied odds AND implied odds.
I decided to fold basically because I don't think I can continue profitably.