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 Originally Posted by wesrman
This is kind of a broad question, but i feel like im leaking money by playing draws too aggro. Can you give some examples of how to play certain draws IP vs OOP, and maybe exlain a bit about fold equity.
I'll start off with a basic background on fold equity, give some principles to think about when considering playing a draw aggressively, and then give a couple of examples of when you should and when you shouldn't be aggressive with draws.
Fold equity is the equity you have from the chance that someone folds. So say in 25nl you raise to $1 preflop and get called by the big blind. The pot is then $1.10. He checks, and you bet $0.75. If he folds 40.5% of the time, then your bet breaks even just on fold equity alone. The math involved is as follows: 40.5% of the time you'll win $1.10, for an EV of $0.446, and 59.5% of the time you'll lose $0.75, for an EV of $0.446. Notice that the cards don't matter as long as he folds 40.5% of the time. Now the catch is in that 59.5% of the time he doesn't fold because we won't always lose the hand then, especially if we have a strong (8+ outs) draw.
There are two key reasons that you should ever be aggressive with a draw. The first reason is that you think you have good fold equity. The second is when you're disguising your hand (or balancing your range, however you want to think about it). Sometimes both of these reasons will come into play.
Likewise, there are two main reasons you shouldn't play a draw aggressively. First, if your opponent doesn't size his bets well, often it's more +EV to just let him give you great odds to call. Second, if there are a number of people to act behind you, being aggressive with your draw can be dangerous since if they raise over you, you might end up putting money in the pot and have to fold to their raise. Additionally, if you raise a draw with players to act behind you, they are less likely to flat call which would improve your effective pot odds.
Here are a few examples that bring some of these principles into play. Assume all hands are 25nl 8-handed with $0.10/0.25 blinds and $25 stacks, and we have a 14/12 or so tight-aggressive image.
Example 1:
We raise preflop from UTG+1 to $1 with A  J , and only the CO (14/10/2.0) calls. The flop comes K 9  3 giving us the nut flush draw (along with an overcard) and the pot is $2.10. This is a good place to bet since we can figure to have good fold equity. Our opponent will probably continue with hands like AK or KQ, might call with JJ or TT, and will probably call with lesser flush draws. Obviously villain is going to continue with 99 or 33. The hands that he folds are all of the suited connectors that missed and most of the small pairs. When you consider his range, we see that we have good fold equity and we even might be able to stack some people with flush over flush.
Example 2:
A tight/somewhat nitty player (say 12/9/1.0) in MP1 raises to $1, a loose/passive (say 24/3/1.2) HJ calls, and we call on the button with 6  5 . The flop comes K 9 3 , giving us a flush draw, and the pot is $3.35. MP1 leads out for $2.25, HJ folds, and it's $2.25 to us with a pot of $5.60. Our pot odds aren't terrible, but this is a good place to raise sometimes to disguise our hand. If we raise here sometimes, it's hard for villain to put us on a hand since we could have a set. (This has the added benefit of disguising our sets as well.) We figure to have some fold equity as well, since he could easily have been making a continuation bet with AQ or AJ. If villain calls and checks the turn, we also get the option to check behind the turn for a free look at the river.
Example 3:
A 13/9 raises UTG to $1, MP2 calls, we call with T 9 in the HJ, the CO and button both call, and both blinds call. The flop comes A J 2 and the pot is $7.00. Both blinds check, UTG leads out for $4.50, and MP2 folds. This is a bad place to play the draw aggressively for a number of reasons. First, we have little to no fold equity. Second, we're getting decent odds to draw on the flop at a little over 2.5:1. Third, there are four people to act behind us, and if we raise, it's doubtful any of them will flat call. Here, a call is best. If someone raises behind you, then continue if you think you have the odds to do so.
I hope this helps.
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any PAHUD layout shared with us? i always have trouble reading some stats easily when multitabling heavily on stars.
In that situation, the donk minraised 4 limpers in SB, i 3 bet big from big blind and then he min 4 bet 
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