The only way you're going to get better is to understand the basic math in poker.

When V calls large bets preflop with stuff like [82s], it is impossible for it to be "correct" since its not possible for him to make enough money to justify it.

When V chases runner/runner draws, you have to understand that the other player is way __WAY__ ahead when the majority of the $$$ goes in.

So ask yourself, if you're way __WAY__ ahead, how much $$$ do you want V to put into the pot. The answer is, all of it.

Therefore, there is really just one way to deal with this guy. bet/fold for 3 streets of value.

You want to figure out the largest amount he'll call, and then bet about 20% more then that (because he'll call that too).

To your hand:

1) Just because $7 was the table standard raise, doesn't mean you should do it too. Figure out what the largest raise you can get 1 or 2 callers with reliably. Generally, at 1/2 you'll find that $15 will be called alot.

2) We know V is going to call, so let him call alot. As played, the pot is $22-rake, for about $16-17. Your pot sized bet is good, but I bet he calls a bigger bet. $20-25 all day.

3) The 8 does improve some hands, but most only pickup more drawing outs. Also, against hands that did improve [T8s], you still have plenty of outs. It would be a different story if the turn was a J or 9 -- you can and should slow down in the face of the obvious draw hitting. But in this case, no need to stop here. Pot it again.

4) I'm putting in a 1/2 PSB on virtually all rivers.

5) Pretty easy fold to any raise.

If he bets the turn and only V calls and the river is a brick, hero pretty much has to bet/call a shove on the river (which I don't mind) but I think he needs to be aware of the commitment decision.

If he bets $50 on the turn (2/3 PSB, $50 into $75), pot will now be $175 on the river and hero's stack will have $165 remaining leaving slightly less than a PSB, or perhaps a 1/2 PSB value bet that is prepared to call a shove.

Also - if he is the type to bluff the river when checked to than you pretty much have the best bluff catcher available.

I think betting $50 on turn and $100 on river (assuming you don't get raised along the way) is max value for your hand

I've seen plenty of 1/2 regulars do outrageous stuff with junk hands in weird positions. Maybe he was tilting. Maybe he is superstitious. Maybe he mis-read his hand. One example of 82 from UTG isn't going to convince me that this guy will pay off three barrells with K4.

Also, there is another guy in the hand. There is value to be had from his Tx holdings.

I say go for 3 streets, but even if we can only get two, we should be going for flop and river imo. This way we dont give a free card to hands that have equity against us and get at least the same amount of value.

Also, you don't have to believe he will pay off three streets with K4. He will probably give you at lease flop and turn, and then you get 3 from better Ks.

Against the villain type (loose preflop, sticky postflop, older guys who bets on dogs. They are over rolled for the game ) you should either play super aggressively to be committed before river or passively smallball till you make nuts then bet big. Playing scared against such villains is the worst strategy.
As played.
Preflop you could have raised more. But standard raise is fine.
Flop, i would rather bet 1/2 psb. Like $10-12
Turn, once you bet psb on flop, its time to bet 2/3 to psb on turn. He is calling or folding, never raising.
If he calls turn, bet 1/2 to psb on any river.
Against these villain types, either fast play your hand or play small ball. And never call their big bets/raise. Its always nuts.

Grunch:

Pre looks good. KQ is plenty strong to open from MP.

Flop is good, we can get action from worse kings and straight draws.

Turn should be a bet, the 8 changes nothing (unless it brings a backdoor flush draw) and presumably AK 3-bets preflop.

Edit: saw the 2nd post, BB is short.

What was the river card?

This reply is to op:
Bet the turn. You can't start showing weakness at the table . You appear to be playing pot control poker, and regardless of villain , you can't turn the initiative over in this spot . You're going to get eaten up by the guys bringing 2 and 3k to these 1-2 games. Yeah, every time you see a big bet that you don't understand, you are going to start mucking all non qq,kk,aa hands.

So at a minimum, at least stand your ground, and bet when you have a hand. Don't listen to these guys in here promoting value by checking or calling.

This reply is to the guys promoting checking the turn:
Honestly, if you guys have the skills and game, and reads to pull this off, and I'm not saying that you don't, that's great. But do you really think this is the best direction for op to start taking right now, today? Do you really think checking the turn is the best advice for sending him back into the game?

I don't mind the check bet bet line if the board were a55 and hero has aq. Not on this board.