Originally Posted by ajrenni
I am going to go through the 3 hands in an effort to explain why advice like AK is the nuts, or don't stack off with AK for 100bb misses the point entirely. Let me preface this by saying that when you have a hand that is potentially (but not always) worth stacking off with, you need to think of pre-flop as a two-stage game. First, there is the initial bet/raise, in which fold equity plays a big factor; then there is the push/call stage, where dead money is a big factor.
Hand 1:
Hero has AK in MP and open raises. Villain 3-bets. Hero ?
In this portion of the preflop game, Hero has started by making a clear value raise. Many hands worse than AK can call, and even pocket pairs that call will often have to fold to a c-bet. When Villain raises, we need to know a little bit more about his 3-bet tendencies. If Villain's 3-bet range is very narrow (i.e. premium hands), Hero has no FE and is at best flipping with QQ. Folding is a pretty good choice here. If Villain's 3-bet range is wide and he is willing to stack off with hands like AJ or 88, Hero may have enough equity to get it in, given the dead money in the pot. If Villain's 3-bet range is wide and he is only willing to stack off with premium hands, Hero has signficant fold equity, and there is a decent amount of dead money in the pot, so a raise should be profitable.
Hero 4-bets, Villain shoves.
At this point, the decision as to whether to call or not is purely a pot odds question. Hero is likely getting around 2:1 on his call. Play around with pokerstove. Against what range is Hero more than a 2:1 dog? How sure can you be that Villain is limited to that range only?
The point here is that once Hero decides that the 4-bet is a good idea, either for value or to capitalize on FE, he has generally priced himself into calling the shove. The decision in stage 2 should be an easy decision.
Hand 2:
UTG raises, Hero?
First, Hero needs to think about the kinds of hands that UTG will initially raise with, and what hands UTG will continue against Hero's 3-bet with. If UTG's initial raising range is very strong, Hero has little FE and is probably going to face a shove. Since Hero 3-bet, we'll assume that he either has decent FE against UTG or that UTG will call with hands like KQs, AQ, AJs.
Hero 3-bets, The real Villain shoves, Hero?
Again this is just a pot odds situation. The major difference between this hand and Hand 1, however, is that Hero has not put in 1/3 of his stack yet, so he is probably not getting close to 2:1 on his call. Hero still has to ask himself whether Villain's range for 4-betshoving is wide enough to justify the call. Run some stove calculations and see what sort of range Villain would have to be doing this with.
hand 3
Hero raises in EP, Villain 3-bets, Hero ?
To this point, this is the same as Hand 1. Since Hero raised, we will assume that he reasonably believes that the combination of FE + equity when called justifes the move.
Hero 4-bets to 25bb, Villain calls.
Pot is 50bb and the flop comes K,6,5r
With effective stacks of 75bb and a pot of 50bb, the SPR is 1.5, so Hero is committed. Some portion of the time, Villain will have AA, KK, 66 or 55, or AK for the chop. But he also may have KQ sometimes, or at least KQs, and even if a bet only folds out worse, there is enough dead money that denying Villain his 2 or 3 outers isn't a crime. That being said, Hero should think about whether checking will embolden Villain to try to make a move with AQs or to valuecut himself with JJ. I see this hand as more of a post-flop strategy issue than a preflop one.