Re: BB defend
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In the big blind, out of position, you want to lose less than your opponent does in the same position. This is why defending with "only" 25% of hands may be ok, depending on the postflop skills of you and your opponent. If someone is opening 100% of their hands on the button, it is difficult (IMO) to exploit this pf without getting into very tricky positions postflop OOP. This is why an aggressive player who plays well postflop (especially from the button) is a very tough opponent.
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Someone raising 100% can certainly be exploited in a SNG or in a low-stacks situation. You can just pushbot him. If SB's auto-making it 3 BBs, pushbotting will be +EV for the BB to about 25 BBs effective stack assuming perfect play for opponent. If SB's autominraising, it's not so favorable for BB -- only +EV to a stack size of about 14-15 I think. But since opponent's not perfect, you can probably squeak out some +EV up til the 30-40 BB range in the first example and up to 20 in the 2nd.
Agreed that in a deepstack/cash game it's a little more challenging.
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