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 Originally Posted by Krapp
 Originally Posted by koolmoe
First, why is it necessarily a coin flip? There are lots of hands BB could make this play with, and many of them will only have three outs against you.
We need to assume a reasonable hand to commit all our chips. We see a raise and your holding a med pocket pair. Chances are opp has 2-overcards. The other scenarios are possible (e.g. A5s, 55, QQ, etc) but the decision should be made on most likely hand which is 2-overcards
One rigorous way to do it (off line, obviously) would be to consider the range of hands that the BB would make this play with and then compute your chances based on those numbers. There are 336 unpaired hands that consist of two overcards, but 816 unpaired hands that contain at least one undercard. You'd need to have some read on your opponent to know what hands he is capable of doing this with (I would argue that any A and any K are definite), but I'd estimate that you end up as maybe a 65:35 favorite.
Notice that the BB made this move with T5, which is not uncommon for an aggressive player with a huge chip lead. A smart player knows that you are afraid of finishing out of the money and will play on that fear to steal your chips.
 Originally Posted by Krapp
 Originally Posted by koolmoe
Second, the reason you risk it is to increase your chances of placing first. I agree that calling the all-in is not to be preferred, but it is hard to argue against pushing in that scenario.
If you win, I would agrue you improved chance to place in first is marginal. Your still second in chips. Getting into the top 4 is fine, but if you "play to win" mentality places 5 or worse, then I believe its doing more harm than good.
If you fold, you are an 8:1 underdog to the chipleader. Even after doubling up twice through the chip leader, you'd be trailing in chips (3600:3200). One double up at 4800:2400 makes you the 2:1 chip leader. There is no way that the increase in your chances to win is marginal.
 Originally Posted by Krapp
 Originally Posted by koolmoe
Finally, doubling up against the chip leader would drastically improve OP's chances to win the tournament. Based on chips, OP would go from a 5:1 underdog to the chip leader to a 2:1 underdog. The improvement in his chances to win coupled with the $ value of placing first make it a play worth making (in terms of $EV) IMO.
Thats assuming you cant increase your chipcount after you fold. 5:1 to 2:1 is significant, but there is game still left to played where you can increase your chipstack w/o trying the all-in here. Again why risk 50/50 bust-out where you are fairly good in placing ITM. One other note: 5:1 can be 1- double up or 1-2 blind steals from being even.
OP started as a 5:1 underdog before the hand but would be an 8:1 underdog after folding, which is a long way from being even. I've already outlined why I don't believe it to be a 50-50 proposition.
As far as increasing your chip count, odds are good you'll be flipping a coin to do that. Will BB fold to 800 when he wouldn't fold to 400?
Folding is definitely a viable option, but I'm not sure that it is the most +$EV one. I do agree that it will decrease your variance (from the ROI point-of-view). However, if you are interested in minimizing variance, you fold this hand preflop.
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