Funny, last night I went to play and the same maniac was across the table from me, and there was ANOTHER maniac in the seat to my left. And yes, there were hands where they were raising and re-raising EACH OTHER - HUGE pots were getting built at that table.
The maniac across the table left about an hour after I sat down, and shortly after, one of the strongest players in the room sat to my right, and two seats to my right was another player who is not "super strong" but has some clue how to play - I did NOT want to seat change away from having position on the 2nd and 3rd strongest players at the table so I just stayed there.
Early in the session, I had AQs UTG, I raised, the maniac said, "HE raised?!?!? HE hasn't played a hand all night!" and called me. The second player said, "I know right? I'm a little scared, he's sitting over with his hoodie and his mask - I can't call that!" and of course he called anyway. The next guy said, "All right, I'll donate" and called. 6 players ended up seeing the flop.
I decided to try out the strategy of limp-reraising monster hands:
- I had AA UTG and limped, the maniac to my left raised, 5 coldcallers including both blinds, I re-raised, the maniac 4-bet and everybody called.
- A couple other times that night the strategy worked equally well.
- ONE time I limped, the maniac FOLDED and I ended up seeing a 6-way flop for one bet (yuck).
- One time I open-raised, the maniac 3-bet me, and only the big blind coldcalled. I 4-bet and they both called.
- There was one time there were 3 limps into me, I raised, the maniac 3-bet, the limpers and big blind coldcalled, I 4-bet and everyone called.
This is WAY too small a sample size to draw any conclusions about whether or not the limp-reraise strategy works in general of course. But it SEEMS like if more than one other player has already entered the pot, you might as well go ahead and raise because they're not going to fold any amount of money once they've entered a pot. I don't think the limp-reraise strategy is terrible if one or zero players have limped in ahead of you. Also, I don't know whether or not this is mathematically correct or even matters, but I was limp-calling suited connectors, suited aces and kings and connected broadways, so it's not like they could automatically put me on aces when I limped in (or that they'd act on the read anyway).
Hope this was useful or at least interesting!