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I don't think the idea that aces lose value in a multiway pot is absurd, though.
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A priori, it is conceivable, but not after you look at real data. People keep saying AA is in trouble in multiway pots because they focus on winning pots rather than winning money.
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The question is whether they're more +EV with say 4 opponents or 9, and I don't know if anyone's published a definitive answer. My intution agrees that the family pot is better but intuition can be tricky.
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Here are two sources of data:
GoCee: equity against random hands
Profit from every $1 put in preflop against n random hands, all-in:
n
1: 0.71
2: 1.20
3: 1.56
4: 1.80
5: 1.95
6: 2.05
7: 2.10
8: 2.12
9: 2.11
So, it looks like you want more random callers if you are all-in preflop.
How about actual play?
PokerRoom's stats
It's not clear how to use this data. Here is one possibility. Suppose you have AA in the big blind. Is this more profitable with many people at the table, or with fewer? More people at the table will mean more people limp or raise in front of the AA.
Here is how much AA is worth in the big blind against n opponents at $2-$4:
n
2: 0.81 BB
3: 1.49
4: 2.00
5: 2.22
6: 2.50
7: 2.22
8: 1.94
9: 2.40
10: 2.43
Here is the data from $5-$10:
2: 1.25 BB
3: 1.56
4: 2.02
5: 2.21
6: 2.51
7: 2.98
8: 2.44
9: 2.69
10: 3.70 (not 2.70)
Again, AA appears to be more profitable agaainst more opponents.