$5/$10 Stud High - Std?

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you probably have a small equity edge here, so there's no reason not to raise.

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Incorrect.

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Why is this incorrect? I did a couple of sims on twodimes that suggest that against a couple of plausible hands (say a flush draw and a pair of sevens with a big kicker) and random cards for the bring-in. In most cases hero has around 35% equity here, and is likely to be a favourite against any hands that remain. I can't see what would be wrong with raising here.