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Besides the obvious, one of the things I don't like about playing a hand like 72o is that the implied odds are not there. Most good flops for you would necessarily contain your rags, giving little room for a card that helps your opponents. Unless someone is super aggressive with overcards or slowplaying a big pocket pair, you won't see much action with a flop like 972. Plus, if I'm on a big PP and someone calls my decent-sized bet on the flop with rags on the board, I'm worried they've made their set, especially with the smallest possible PFR.
You might see action from a flush draw or straight draw, but then the chances of losing with your 7's up or trips increases. You would need to protect your hand by making a 1/2 to pot sized raise, in which case your opponents would be correct to fold. You'd end up playing for the 12 bets in the original pot. Not bad, but not enough to justify playing 72o, either.
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