It is suggested in some strategy articles to thin the field when you have the pre-flop advantage – bet so that you are only facing one or two opponents. Presumably, this makes it easier to play and cuts down the likelihood of a bad beat or suck-out.
I thought I would show this with some examples. I looked at four different hands – AA, AKo, 99 and 87s. Against each I assumed five different opponent types with ranges of top 10% (tight), 20% (moderate), 35% (loose), 50% (maniac) and a mix of these ranges. I assumed a hero bet of 3bb with all opponents calling.
Here’s what I found. With the four hands analyzed each against the 5 opponent types, we have results for 20 cases. In 10 of them, EV was highest for five opponents, the maximum value we considered. Facing one opponent had the highest EV in 8 cases. For AKo, facing one opponent had the highest EV for all opponent types. For 99, facing one opponent had the highest EV for the 3 middle types. AA always preferred five opponents while 87s had highest EV at two opponents for the aggressive type and at four opponents for the maniac type.
The results are summarized below:
Admittingly, these results apply to a very specific pre-flop situation and do not account for position, stack sizes, fold equity, etc. and, perhaps, most important, future action where realized equity becomes critical. Nevertheless, they surprised me that one opponent was not the best situation the large majority of the time.
This preliminary analysis led me to think that perhaps the suggestion to minimize the number of opponents deserves further study.
A more detailed summary of this analysis can be found at the following Tumblr blog site:
https://holdemmathology.tumblr.com/post/182712065725/