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I have noticed that most of the (profitable) players who play multiple tables at 5/10 and under tend to have a Vol%inPot stat of about 15% with a very low PFraise% of under 3%. This PF raise % seems way too low for me, but is it a good strategy when playing 4 or more tables?

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3% PF raise seems more like tight/passive. This probably comes from set miners who are only calling PF not raising. Competition is bad enough to where they make money playing like that.