Sorry for bumping but just read it again as part of the day of procrastination.
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It's really not that simple. Even if they do fold enough to make 72o profitable, they are going to adjust their play v a 100% as opposed to 85% raiser. And it might be that that adjustment makes it less profitable over all.
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If this is the case he could the very same adjustment vs us if we don't raise 72off and still profit from it (assuming this adjustment allows us to play 72off profitably). Which is kind of obvious I hope. So by not raising 100% if we know he will fold enough anyway to make every hand profitable we are basically betting on him being a retard.
I just want make a point : "If we know that he will fold enough to make every hand profitable we should ALWAYS raise 100%" If every hand is profitable against given Villain we bette rraise every hand unless he has very strange mental block. There are no magic adjusments which somehow lower our overall EV still allowing to play 100% of hands profitably.
The conclusion is clear : is someone believes that optimal strategy of the button is different than raising 100% he/she must also believe that optimal strategy of BB is such that 72off is not profitable. (which probably means defending 50%+ and 3betting like 25%+)
It's not clear to me that everybody agrees on this point, anybody wanna challange this ?
EDIT : btw I am pretty sure that button can't win more than 0.2bb (0.1ptbb) / hand if he is raising 100% of hands to 3bb.