Re: What are the chances of hitting a set...
You'll flop a set just under 12% of the time.
If a raise is less than 5% of the smaller stack (yours or your opponent's), call. If it's between 5 and 10%, use your judgment. If it's over 10%, fold. This applies to 99-22. And sometimes TT and JJ.
Fyi, this is often called the 5/10 Rule.
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