[bighomage]

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The biggest problem with your hand is that even if you flop a set, there are 2 outs for you opponent and, more importantly, 8 scare cards out there. You figure your opponent for AA, KK, or QQ... now what do you do when you flop a set and the flop or turn puts an ace, king, or queen on the board? For all you know, he just picked up a higher set... which could cause you to make an incorrect fold, or even worse, if he DID pick up the higher set and you think he's simply betting the overpair, you could lose a serious stack of chips.

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I actually do think this is a valid point because the threat of a king or ace hitting with your 7 on the flop will seriously affect the confidence with which you try to build the pot post flop. I don't have a calculator in front of me so I can't figure out the odds, but an ace or king will hit the flop with that 7 a significant amount of times. For that matter, since he probably won't give up his hand, you should consider how often an ace or king will hit the board. This is important to think about when considering the implied odds.