[eastbay]

Reasonably skilled players, 50/30/20 payout.

1) 4-handed, 2500 chips apiece, 300/600. A8o on the BB, SB moves in, and you read him for any pair, any A, any K, Q9+. Call or fold?

2) 3-handed, 2500 chips apiece (yes, 7500 total), otherwise identical hand with the same read. Call or fold?

The usual analysis says 1) fold, 2) call, and I agree. I also see this concept as the idea behind the saying "settle for 3rd, go for 1st."

Is it misused? Yes. Is it exaggerated? Yes. Is it invoked to justify terrible plays? Yes. Is it correct? (in this sense of prize structure implications for $EV)? Yes.

Don't throw out valid concepts because people misunderstand or abuse them.

eastbay