This hand was played by a friend and we have been talking about how to play this for days and need the expert opinions here to clarify things. The game is a full $5-$10 at Borgata and Hero has $3600 before this hand. He bought it for $1200 and has been playing pretty solid poker. Villian (UTG with $3400) is an older man in his 70's who is tight and seems to know and enjoy the game. He plays often and the two had been talking during the session.
Hero has AxA
in the SB. 4 limpers and Hero makes it $80. All limpers call. ($400 in pot). Flop is K
8
3
. Hero leads for $200, Villian raises to $700. Folded to Hero.
We have made arguments for calling, raising, and folding here and seem to think that raise or fold may be the right play here. But we are quite unsure. Would like to discuss.