Cold calling preflop

[damaniac]

Yes, but that isn't the only factor. For example, say you have a hand that is a 60/40 dog HU. Say the BB entering would drop your equity to 35%. Your equity has dropped but now you have 35% 3-way which is far superior to 40% HU.

To come up with a more specific example, say you have 76s or 55 and suspect that an opponent who raises has an overpair. You now want more players, since your equity drops very little no matter how many people enter the pot. You only win with two pair or better, hands that will often hold up even against a large field.