Re: Is the game beatable?
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Yes.
Make sure that you alter your starting hands to take into account the likely multi-way action in the spread limit game. The value of top pair hands goes down, while the value straight/flush draw hands goes up.
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This is not precisely correct.
The strategy in spread limit games is to push dominating hands very hard pre-flop. The reason is that there are in fact decreased implied odds in spread limit; if you raise $5 pre-flop, then your opponents are putting in $5 now with the prospect only of winning $5 bets on later streets, not double ($10) bets in a standard limit structure.
The fact about straights and flushes is just a standard fact of loose/passive low limit hold'em. The spread limit factor actually means you should slightly decrease your interest in these hands.
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