Originally Posted by venice10
I think a lot of people are missing some of the basics here.
First, what is the villain's raising range in EP pf? If he's nitty, then the range is no wider than JJ+, AK. If we assign an average of top 25% hands for the rest of the callers, Hero's equity in the hand is 16.5% if he calls. That's not much equity considering that Hero has to play oop post flop. As for the other players, their equity is 11.5% each. TBH, if you told me I could trade 5% equity in a hand oop to have the button pf, I'd take it so fast you couldn't complete the sentence. Beyond that, AK in this situation is a RIO hand if calling. Other than flopping QJT, there isn't going to be a flop you're going to like if you get a lot of resistance. You don't match up well. The main villain has you crushed on a high flop and the rest of the villains beat you on a low flop. So calling is a bad decision, IMO.
That leaves raising or folding. If we raise, the first consideration is the original raiser. Even with the huge raise the OP actually did, he's got to call $103 to claim a $190 pot. To call, he needs 35% equity. If he also has AK, he has to put your range at QQ+ for him to be putting his money in bad. Even then considering position, I wouldn't fold. The value of having position on you would be enough compensation. He's more likely to fold JJ, QQ only if he believes you'd never raise with AK in this situation. Anyone with some experience would need evidence that you were that tight before considering to fold. Given your image is of a loose maniac, the chances he believes you wouldn't raise with AK is near zero.
Therefore, you shouldn't be shocked that he doesn't fold. In fact, he should never fold in this situation with his range and yours. So your plan should be he'll call. After that, the pot moves to $293 and most of the next villains should fold, although there's a reasonable chance one will call with all the money in the pot. Once one calls, the others are never going to be such an underdog to even AA that they should fold.
Assuming no other callers, Hero's equity in the pot is $125 and it cost Hero $115, for net EV of +$10. That's weak value for having to play a RIO hand where I have little chance to make more money, but lots of opportunity stack off with the worst hand. I'll note that if there were only 3 callers instead of 5, then Hero's net EV would actually be zero. It is only the presence of so much dead money that makes raising even a marginal move. If he 4 bets, you'd have to fold.
Therefore, I'd be fine with taking a pass and folding. I don't know to make much money in this situation. If he flats, he's got JJ, QQ or AK. He's not going to pay you off if you hit an A or K (folds JJ or QQ, ties with AK). Given Hero's image on a Q high flop, a flop shove presents him with with a fold only if he has AK, otherwise he calls. Since AK is less than 50% of his range, he's not folding much if there is a Q. On a T high flop, he should call a shove with everything. With the SPR of less than 2, there is just no skill that you can apply. I can see lots of ways OOP to hand my stack to the villain, though. When I'm presented a situation where there is no up side and lots of down side, I'll avoid it.