I raise flop with gutshot in 4 way pot?
 

SB is 19/9/1.5 over 200 hands
CO is tight/passive and button is a fish.

PokerStars 1/2 Hold'em (6 handed) Hand History Converter Tool from FlopTurnRiver.com (Format: 2+2 Forums)

Preflop: Hero is BB with J[img]/images/graemlins/spade.gif[/img], 9[img]/images/graemlins/spade.gif[/img].
<font color="#666666">2 folds</font>, CO calls, Button calls, <font color="#CC3333">SB raises</font>, Hero calls, CO calls, Button calls.

Flop: (8 SB) 3[img]/images/graemlins/diamond.gif[/img], 8[img]/images/graemlins/club.gif[/img], 7[img]/images/graemlins/diamond.gif[/img] <font color="#0000FF">(4 players)</font>
<font color="#CC3333">SB bets</font>, <font color="#CC3333">Hero raises</font>...

Spew?
What if you changed the 3[img]/images/graemlins/diamond.gif[/img] to the 3[img]/images/graemlins/spade.gif[/img]?

Re: I raise flop with gutshot in 4 way pot?
 

No, I think SB is way too tight to do this. His range is strong and you will not take this down UI very often IMO. Additionally, with the players you described behind you, it is likely you can peel and see the turn for one sb.

Re: I raise flop with gutshot in 4 way pot?
 

This is not the time to get fancy. We have position on the aggressor and would like to keep the other players in the pot. If SB 3bets we pay way too much. Another benefit by calling is that if we do hit we can raise the turn charging the others extra for their draws. Furthermore if the 3 was of spades I would not play it differently.

Re: I raise flop with gutshot in 4 way pot?
 

Yes, spew.

These guys are not foldin 8x, 7x, a FD or even 2 overs. Most likely result of the raise is that either CO or button will call and give SB odds to call with his holding as well and you have nowhere close to enough equity in the hand to raise.

A 3[img]/images/graemlins/spade.gif[/img] gives you ~ 1.5 more outs, which doesn't matter all that much. Just call and hope for 2 overcalls.