I'd call the river.
I definitely prefer a raise pre. It'll usually get you absolute position (getting the BTN to fold) and possibly take it down or get you heads up, etc. - good things can happen. Calling can't be that bad though. Meh folding with an unsuited trouble hand isn't atrocious. Pre-flop doesn't really excite me all that much one way or another.
Flop and turn value bets and sizing look great. You're betting the right streets for value in this situation (where there are a lot of draws in villain's range that give you value now as well as worse made hands that might get spooked with a draw comes in later).
Let's talk river. His range is actually relatively weak. 44, TT, JJ and JT raise the flop almost every time. If not flop, then turn. You also super duper block JJ and JT is also very unlikely. So his range after he calls flop and turn mainly consists of Jx, 98, KQ, Q9, gut shots, and
.
On the river, he's not betting Jx. He should be polarized, and based on our ranging, he's very polarized to nut-type hands and air-type hands. Since he checked his open pre, he can really have any 2 suited hearts, and the fact that we're blocking broadway flush hands with the K
, J
and T
is meaningless.
I think that's exactly his range on the river - 98, KQ, Q9, gut shots = air and flushes = nuts.
Focusing on the OESDs,
KQ = 12 combos
Q9 = 15 combos (exclude flush)
98 = 15 combos (exclude flush)
= 42 combos
Now let's calculate flush combinations. Since he can have like ATC
's, especially since he can't have AKhh, which he might raise pre, and there are 9 hearts to choose from.. um, well I just typed "9 choose 2" into Google, and that actually worked. There are 36 combination of flushes.
If he calls flop and turn with an OESD, and then bluffs on the river with this sizing, you're definitely getting the right odds to call. If he might do the same with a gut shot like Q8, K9, 97, 87, then you should snap off the river because he's polarized but there is so much air in his range it's not funny, i.e. he's invariably very unbalanced to air-type hands.
It really all comes down to your read on villain and the combinatorics. Given how polarized he is, that you hold the Kh, which eliminates like 25% of his potential flushes (Google "10 choose 2," then do the math - you're blocking a ton of flushes here because you hold a flush card), that your read is that he can stab at pots and isn't a nit despite being an older reg, I think you should be calling here almost always. I don't love his sizing, because it does look valuish and obviously decreases your odds, but I'd still call.