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Haha, its kind of funny that no one has noticed this, since the check raise thing is being talked about. If Lefou was in the SB and this guy was in the BB, Lefou acted first preflop and checked to him.
I think you gotta reraise here for sure. You've basically trapped him perfectly, and now you're going to fold because he overbet? That's pretty damn passive. He has no reason to put you on a strong ace, but especially not AK. You just made a weak (MINRAISER!) raise preflop, called a decent one, and then checked to him on the flop.
What this crazy overbet screams to me is that he's looking to take the hand down with a rather weak hand, with this particular flop (could easily be a hand like KK, I've seen many fish do this when they're worried they're beat with a hand like that - or it could be a weak ace when they're hoping you don't have an ace, and will fold to the big bet if you do). With a 1/3 of his stack in, if you're going to play you may as well shove in and hope he makes a weak call. If he has you beat, make a mental note about a very strange overbet by him when you've shown absolutely no strength at all in this hand, so you won't fall for it again. I really really doubt he had you beat, though.
One last thing to think about. You say that you didn't want to put 1/2 your chips in on TPTK this early in the tournament (and obviously your live play greatly differs from your online play, where you have no problem re-reraising me half your stack with bottom pair ... but I digress), but there's a problem with your thought process here, and not that you'd really be playing for your stack if you were to raise. The thing is, its not about what you have (TPTK), its about what he has, and do you have it beat. From my read you almost certainly do.
If you had good reason (i.e. you've seen him do it many times) to actually believe that he'd overbet a monster like this when you've shown absolutely no strength (in which case it'd be much much better for him to make a small bet, trying to suck you in), then that'd be a fine reason to fold. But you shouldn't be folding because you're scared to put a lot of chips in early, it should be because you think you're likely beat.
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