Lots of people said fold pre. I said your strategy was awful So I will reconcile why I said what I said and many people here said fold pre (which is not my main thesis). I don't think pre is a fold, but its almost assuredly a limp; especially with this guy in the blinds.
1) Your villain is a maniac who comes to gamble and is going to give away his money. Lots of money. He is not here to fold big hands (which to him include TP). In general the way to beat a maniac is to VALUE BET THE EVER-LOVING S--T OUT OF HIM. So for raised pots, you want to play strong hands (pp, big Aces), and for other hands you want to find a way to get in cheap for him with speculative hands that can hit hard. And then when we hit our big hand (overpair+), we value bet the ever-loving **** out of our never-folding maniac friend.
2) I will ask Professor Flat Tire Suited for a grade on the strategy of: beating a maniac 250BB deep by bluffing. Professor what do you think?
http://forumserver.twoplustwo.com/27...-easy-1021276/
I'm pretty sure that's a clear grade of F
3) Onto Fold Pre.
Your hand is A8o. Thats a pretty mediocre hand at best. However, we have the button plus some meh limpers. On top of which, the villain is in a blind, and he likes blind 3bets the way Sandusky likes 12year olds. This seems like the perfect spot to limp the button. With a limp, your villain may not raise the blinds, and if he does we will have a chance at a nice, cheap flop where we can hit 2pair and crush the donkey (including our limpers).
But instead, we clicked the raise button. What to do now?
Bad news: we just lost our very cheap chance to win a big pot by the action.
Worse news: on an absolute basis, A8o sucks fat donkey balls. And for fun, we decide to 4ball...
If we're going to blatantly 4ball bluff here, the sizing needs to FORCE a fold. By making it 305, your villain now has immediate odds of 2.8:1 to call. Not to mention the implied odds of your stack. So if you're going to take this line, the appropriate betsize is at least 600ish. I don't bless it, but at least it is a raise amount that would apply real pressure (assuming our maniac can fold. This is already an f-rated plan)
Our other choices for a 3bet: we could call. If A8o weren't so ****ty postflop this wouldn't be a bad option. I wouldn't mind playing 68s here otb, or playing a hand like AQo or 33. I would def flat 68 and 33; AQo (or 99 even) is good enough to consider a 4ball, however as mentioned earlier big needs to be much bigger.
Unfortunately, A8o is a **** hand. If we absolutely must go to war in a 3bet pot vs a maniac, we should call and try to keep this whole thing in control (against complete maniacs, I can bless a pot-controled A-high calldown.) What we don't want is a situation with middle pair or A-high where our entire stack of 200+bb is in play. While OK, maybe you want that situation, guys who bluff for 150 are less likely to be bluffing when 1500 hits the middle, and there has to be a better plan than waiting to call a 3bet w/ A8o so we can call down with MP or A high for our villains stack.
That leaves us with the unloved option of: fold pre. A fold which could've been avoided had you simply limped.