In $1-$2 PL, I have $165 in front of me on the button (from a $200 buy-in). There are a lot of chips on the table, and 3 players have approx $600-$900. The game is very loose/aggressive and it is always at least $10 to see a flop, and it's regularly re-raised much higher.
I'm dealt AcJc on the button. A middle position and very aggressive player raises to $10. I smooth call the $10. The small blind (Mark Lester) reraises to $25. Mark is a solid player and generally won't make this move without a pretty good hand. I wouldn't call him passive (because he's not afraid to get his chips in the middle), but he usually won't reraise without a hand.
Anyway, the Big Blind (also hyper-aggressive) re-reraises making it $85 to go. The aggressive middle position player smooth calls the $85.
So it's $75 to me (with a chip stack of $150). It's clear that if I play this hand, it's going to be for all my chips. If all 4 of us smooth call the $85, the pot would be $340, and I couldn't scare/intimidate anyone with only $75 left.
I thought about folding for the obviously reasons: (1) I may be dominated, and (2) my cards may not be live.
However, I'm getting very good odds on my money. Right now, it costs me $75 to call a pot of $205 (2.7:1). Plus, if the small blind calls (remember he had reraised), I'm getting about 4:1 on my money.
However, I know that smooth calling is the wrong move here. It's either fold or move all-in for $165 straight. If I move in, I gain fold equity (as previously discussed), and might push 1-2 players out. If I get heads up, I have a much better chance of winning.
Also, $165 wasn't a big deal for me to call, and I was certainly willing to gamble. If I win the hand, I stand to collect between $415 - $660 (assuming at least one person stays in the hand). If they all fold I pick up a pretty good sized pot and profit $195 on the hand.
So I move all-in.
Mark Lester folds AKo in the small blind (how about that for fold equity??).
Both the Big Blind and Middle Position call. The main pot is $495.
Big Blind turns up 99 and Middle shows JJ. My ace is live, but it never comes. JJ takes down the pot.
Incidentally, a King did come giving Mark Lester the winning hand (had he stayed in). He would've won between $500-$800 on the hand. If Lester had moved over the top all-in, the BB (with 99) would've likely folded, and there's a decent chance that the JJ would've folded (fold equity gained).
If JJ calls, he is a coin-flip to win the hand. But he is getting very goods odds for the play (>3:1).
What do you think about my all-in move before the flop with AcJc? What do you think about Lester's fold of AKo? What do you think about the other calls (99 & JJ)?
Junelli - I would have folded. I haven't made much money on AJ over the years. Unfortunately it is a dog to AK and AQ but favored over AT. People w A9 and lower will (should) fold with preflop raises. Regarding pairs, at BEST it is a coin toss. AA, KK, QQ and JJ are big trouble.
JJF - I would learn to spell "definately" before making a post that tries to make you look more "brilliant" than we are.
Going all in from the button means that it is no longer relevant that you are on the button.
I have heard people say "well such and such hand is marginal, but I was on the button..." What good does position do you if you have no more chips? Are you going make a position play like a mean stare on the turn??
Not relevant to this, because you never mentioned it, but it got me thinking about a drunk guy from last night...
Fold equity doesn't mean getting one player to fold. It means getting all to fold and picking up the pot uncontested. Junell had ZERO fold equity.
When a pot is raised, reraised and reraised again and I only have $10 in and ZERO fold equity, I am folding everything except AA, KK and maybe QQ/AK suited depending on how legit the raisers are.
Random thoughts from a lawyer, an accountant, a commodities trader, an ex-Marine and a WSOP Main Event money finisher that don't know as much as they wish they did...