[Aaron W.]

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this is obviously a topic that interests me, since I find myself posting in these flush draw posts a lot. After hearing a lot of the different points, I think SSHE's "Protecting draws and buying outs section (pgs 158-160) are pretty relevant, and I think I'm gonna keep making the raise. I really like your point though that it's more important to buy outs if you have two overcards.

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After thinking about it some more, I'm beginning to suspect that the raise is actually much worse than calling. I don't know if I'll have time to do it, but I would suggest that you run some twodimes or pokerstove simulations to try to get a sense of what your equity edge on the flop looks like when it's heads up compared to when it's 3 or 4 handed (including when you've succeeded in cleaning up an out). From there, I think you can figure out about how much EV you're getting from each play by playing out the hand mentally.