Originally Posted by AlanBostick
This villain is over-bluffing, and so our fundamental adjustment should to be to over-defend.
First, dial back on our flatting range[1], if this character is yet to act. Getting squeezed and needing to fold has a significant negative impact on our bottom line, and getting squeezed and calling is generally worse.
Second, tighten up on our own raising range, and raise for smaller amounts. If the villain is three-betting a lot, so we are going to have to give up a noticeable fraction of our opens and raises, so sizing down a bit means we are losing less when we have to give up.
The next step is going to depend a lot on how this villain responds to re-aggression. Will they fold a lot of their three-bets to a four-bet, or are they tenacious or eager to shove it in preflop?
If they can fold their bluffs, then we should be four-betting a polarized range. We are going to have a solid value range, say {KK+, AKs} (16 combos), and we will want a fair number of bluffs to go with them. Without doing the math for an actual scenario of bet-sizing, the ratio of bluffs to value I am pulling out of my ass is 3:2, so we would want something like 24 combos of bluffs. Picking hands for our bluffs we want hands that are (a) almost but not quite good enough to flat-call the three-bet (because we are also going to have a flatting range between our bluffing and value 4-bet ranges), (b) blocks the best combos the villain can have, so that we are facing their strong value less than we might, (c) offer reasonably good board coverage to our range, and (d) has decent equity against their value range. So we want hands like AX and KX to block AA, KK, and AK, and hands like AQs and KQs are strong enough that we don't want to waste them on bluffing. Good possibilities are hands like ATs, A2s-A5s, KTs, and possibly something like 76s or 65s. I am not saying "use all of these," I am advising to draw from these combos and others like them a suitable number of bluff combos to balance our value hands.
If they seldom fold to re-aggression, either before or on the flop, then we do not want a polarized range, because bluffing is just throwing money away. Instead we will want a linear (or "merged") 4-betting range, definitely wider than {KK+, AKs}, but don't go overboard. Maybe something like JJ+ or QQ+, AQs+, maybe KQs. We may want to flat-call with more hands than we would against an ordinary three-bettor.
tl;dr: Open and iso-raise somewhat tighter, flat-call opens significantly tighter, but defend with a wider fraction of our open/iso and flatting ranges than we otherwise would. Whether or not to have a 4-bet bluffing range depends on whether or not this villain folds their worst 3-bet combos.
[1] QTo is a terrible hand with which to flat call on the button even a cutoff open. I wouldn't even describe it as at the bottom of our flatting range; it is sufficiently deep into our folding range that we can't even consider 3-bet bluffing with it.