-1/1 full-ring homegame that goes to 2/2 after a few hours or playing
-Typical table is 1/2 complete degenerates who want to play every pot, 1/2 solid players, the rest are tight/passive or calling stations.
-To give you a sense of table dynamics: large 3-bets being called by 24o, J9o, K3s aren't uncommon, straddles and re-straddles basically every hand (goes up to 16 sometimes), bomb pot every orbit, lots of limping. The few solid players know basic GTO/exploitative play.
-There's this one player who has a gigantic stack every time who does the most random ****: checks back the second nuts without any valid reason, open straddles to 30, capable of overbet bluffing the river while also being a gigantic calling station, flats a 120 3bet with 63o. It's this weird mix of being a gambling maniac/calling station while occasionaly making solid plays and I have no idea how to deal with this type of player since I can't narrow down his range or tendencies.
-I buy in for 150bb but with the straddles going crazy sometimes I'm not sure what to do in certain situations (ie re-straddle to 16, I'm in MP with A7s $250 stack)

I understand these games can be very profitable and it's most likely a skill issue on my side, so any advice on how to approach these games would be much appreciated

When the 16 straddle is in just play big cards. Not A7s. In general I might completely ditch suited connectors and stick to big cards and pocket pairs if everyone is going wild pre.

There are a couple of aspects to this game to consider. The first is the volatility of your results medium term. You might be profitable in this game in the long term, but you need to be heavily bankrolled to play long term. The risk of ruin in this game is high if you are playing with just a couple of buy ins.

In a vacuum, the strategy is to play tight, hit the flop and get paid off. A7 is an instant muck with the bet size and your stack. The problem in a wild game is that someone playing tight risks not getting invited back. Loose players know that they are at a disadvantage to a tight player in this type of game. They want to gamble, but not lose money, so tight players are banished. You may need to play looser than the "experts" might advise. As Dan Harrington wrote years ago, the winner in this game is going to be the tightest loose player.

Please tell me the bomb pot every orbit happens when everyone is in the same positions, so that one guy gets to play every bomb pot from the BTN.

I want to be that guy.

These games are ridic profitable, but also the variance is insane. I've had multiple 700BB+ losses in a row in games like this before, and am still at about 15BBs/hr over about 400 hours in a game that sound much like this.

The name of the game is value. Bet big for value pre with premiums, and then c/f a lot if you miss. Don't worry, the times you hit TPGK+ in a nicely juiced pot will more than make up for all the times you juiced it with AK and then frustratingly folded on a 962r board, or even the times you get stacks in on an ace-high board only to see them hit their crappy kicker OTR for two-pair. Sure, that stuff gets frustrating, but the insane value more than makes up for it.

As for speculative hands, try to get in cheap, and then value bet like the devil when you hit. Don't semi-bluff often when you hit a draw, especially multi-way, as they'll often give you a great price to draw and will still often pay you off when you hit.

I used to play in a somewhat similar game, but it was a monthly bounty tournament with a $45 buy-in, and maybe 12-16 guys, ranging from terrible to TAG-fish. Except for me, these guys were all loaded - doctors, lawyers, high-level execs, etc.

Because nobody in the game gave a f**k about losing $45, none of them played anywhere near optimal. Guys would flat call a UTG raise with QQ or 54o, and limp in from the BB with JJ. I never really knew where I was in a hand unless I had the nuts.

Because it was a tournament, with blinds going up every 15 or 20 minutes, playing tight really wasn't an option past the 2nd level, so I'd just play like a maniac - opening any playable hand for a raise, 3B'ing to iso a ton, c-betting a lot, barreling a lot, etc. I'd either run bad and get knocked out first or second, or run good, build a huge stack, and take 1st or 2nd place.

I quit playing because I was just barely above break-even after playing 8 or 9 times, not counting a $600 score for binking 1st in their annual "championship" that attracted 24 guys, and because the game was so stupid-frustrating. I lost track of how many big pots I lost to the most ridiculous hands.

Similarly, you're playing a super-low-stakes game against guys who appear not to give a f**k about the money. If you don't care about the money, just get in there, gamble, and have fun.

If you care about the money, and think you can get away with it, just play super-nitty pre, and go for max value post. By "get away with it", I mean get invited back, which might not happen if the other players peg you as a scummy grinder.

venice10's advice is good if you want to get invited back. Play looser than GTO, but tighter than everyone else. If anyone mentions it, just say you've been card-dead. Occasionally you can look for good spots to do something outrageous, like limp-raising huge pre with garbage, and showing it when everyone folds. That will buy you some "street cred" with the degens.

Otherwise, do what OmahaDonk suggests, which is shift your range towards high-cards / showdown value hands.

I'd add that you can probably flat call with some hands you might otherwise 3B, and then fast-play your strongest hands post-flop. If you play a raise-or-fold strat from every position pre, you'll either piss everyone off when you run good, or you'll torch your stack when they all start calling to "best hand" you to death.

ETA - also agree with Garick. Keep your strat fairly ABC-simple, as described. Mostly bet for value, few if any bluffs, over-fold weak value, make your profit on one or two big pots, try not to lose your mind when your opponents suck out with ridiculous garbage.

hit hands. bet big. get paid.

don't bluff, apart from potentially one early on for image purposes in a small/medium pot situation and make sure you show it