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Under most circumstances, I am calling a standard preflop raise with AK. There are circumstances to reraise and there are circumstances to fold. Like most things in NLHE, it depends.
Unimproved on the flop, AK is trash. Play it as such.
Improved, you really have to go from there. TPTK (especially connecting the ace) is a strong hand that beats the vast majority of hands on the flop, but it's usually not a hand you want to go to the felt with if you have even somewhat deep stacks.
If you hit better than TPTK, like top two, or trips top kicker, then you are really looking at a strong hand. Boats, the nut straight/nut flush are also obviously huge hands and should be played as such...
However, I generally like to stay away from a reraise preflop with AK because:
1) If a lot of money goes in the pot when you have AK, you are often beat.
2) You are building a pot with a strong hand, but a hand that misses the majority of the flops. Remember what I said about AK unimproved being trash? It's absolutely true. Note however that if you hold 1 ace and 1 king, the mathematical card combinations for both AA and KK are cut in half for your opponents. Against some, this means something. Others, it means squat.
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