Post edited 5:56 pm – July 13, 2009 by Hitman
Hey all, since this forum is filled with cash game players I thought I'd put this up here for discussion and feedback. Would appreciate thoughts from everyone, and would love to hear thoughts from the authors!
I'll give you the play by play first, then my reasoning second… please read my reasoning before ripping on how bad I play. 

The situation: Live $2-$5/$500 cap NL, 10 handed. Typical weak live game lineup. One solid TAG on my left, one decent playing LAG 2 seats to my right (I was in the 2 hole, he was in the 9… he is the villain for this hand). The rest of the lineup was fairly typical bad live players… 3 weak-tights, 2 semi-loose passives, and a couple real droolers. I'm playing a stack of $1375. The LAG covers me, he's got roughly $900 in redbirds and a stack of 8 black chips on top of them, so he's about $1700 or so deep. Everyone else is in the $300-$900 range.
The action: Preflop, a loose passive and drooler limp, and the LAG raises to $25. I flat on the button with Ac5c. The blinds fold and both limpers call. Pot = $101 (after rake, which is $6 in this game).
Flop: Qs Tc 5h
Limpers check, and surprisingly the LAG checks. I bet $65. Both limpers fold, but the LAG calls. Pot = $231.
Turn: Ad
LAG checks, I check it back.
River: 8d
LAG now grabs a handful of the black chips off the top of his stack, and tosses $500 in. I tank, do a little talking to him, and eventually fold.
My thoughts: Preflop, the raise to $25 was pretty standard for the LAG even with a couple limpers. His range to make this raise was wide, he was doing this quite a bit vs. the weak limpers in postion. I think because of this 3 betting in my spot is a valid option (agree/disagree?). I chose not to for sevaral reasons: I was looking to play pots in postiion vs. the LAG with how deep we are, and this hand has good implied value. The LAG is not one to fold to a 3 bet, he's capable of coming back over me with hands as weak as AT and 88, and he's also calling the 3 bet with most of his range and not necessarily fitting or folding if you know what I mean, which could lead to some very difficult post flop decisions playing 275 BB's deep if he doesn't go away easily. And, playing this hand for implied value in position has the additional benefit of allowing the weak limpers to call along (which they will)… The loose passive guy will give action with top pair and the drooler would stack off with it, and they were both very readable. So at any rate, I think 3b or flat are both valid options here, not folding (agree/disagree?). If I were OOP I have no problem folding A5s but on the button playing deep I think folding leaves money on the table.
On the flop: The LAG's check did surprise me a bit, but he had check-folded flops before after being the preflop raiser in multi-way pots. I bet 2/3rds pot, which was a fairly standard bet sizing for me, expecting to take it down often enough to show a profit. This may be debatable in a 4 handed pot, but if I check back most turns will be bad for me and I won't really be able to continue if anyone bets, I'll essentially have to forfeit my equity in the pot. I also had some success with taking orphan pots in position, I didn't build up to 275 BB's by getting lucky or winning a big double throughs (although I did stack a couple shortish players during the night). The LAG I think knew I was capable of betting this light. Whether or not he thought I would do this with him involved in a 4 way pot I'm not sure. The droolers I'm sure didn't notice, they were just playing their cards.
On the turn: I expect to hear a lot of “how could you not bet this”. Well, my reason was I didn't feel committed to getting all in with top and bottom at this point, this deep. I still wasn't sure what the LAG's check-call on the flop meant exactly… he might have flopped a set and checked thinking I would stab. He might have KJ (yes this was in his preflop raising range) and be drawing… Maybe he peeled with AK/AJ, all of these were plausible for him. He also might have AQ and check-called me (not for pot control, but for deception). So the flop check-call made me a bit uneasy. Also, and this is key… I felt he was capable of check-raising me on the turn with a draw, with AK/AJ, or even with air. And of course with sets, 2 pair, and KJ. For this reason if I bet this turn and he check-raises, I'll throw up. That means betting is probably not a good idea. I will add to that this thought: If it were ANYONE ELSE at the table, I would much prefer a line of bet/fold the turn rather than managing the pot and giving a free card. The other players would call me with a wide range of worse hands and draws, but ONLY check-raise if I was beat, making bet/fold optimal imo. Against the LAG though, he was capable of trying to blow me off my hand with worse holdings, so bet/folding seems very painful vs. him.
So my plan, right or wrong, was to check back and call the expected river bet, or bet for value myself if he checks again.
On the river: Well the bet comes, but it is not what I expected. I was thinking (actually expecting this as the most likely action) that he would come out with $150-$200, which I was going to snap call and see who wins. But he overbets 2x+ the size of the pot tossing 5 black chips out there. Bluff? He was smart enough to know that if a bluff was going to work $150 would have been enough to get the job done. No, this really felt like a value bet. The tougher question to me was would he think he was “value betting” a hand like AK in this spot? The way I played my hand, he might. Ultimately he displayed 3 high confidence tells while I was tanking, so I felt confident in the fold.
But beyond tells, let's say we have none… what do you make of the betting pattern and should you stick to your plan of calling the “bluff” you induced by checking back the turn, or re-evaluate? BTW, I should add that while he had been caught bluffing a couple times and showed a couple bluffs that were successful, he had never made a large river overbet before (either bluffing or value betting). His big pots that he showed down big hands were bet on all 3 streets, which was not hard since no one at the table but the TAG and I understood pot control. To me in the moment, this really felt like he was trying to make up for lost value on a failed turn check-raise.
Appreciate any and all thoughts, thanks all!