[Percula]

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In the future, if I'm unfortunate enough to encounter such situation again, what is the correct way to play against such clearly unpredictable and dangerous player?

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Wow, just wow!

This player is a wet dream! The only thing that keeps him from being the perfect fish is that he busted and left and did not rebuy.

OK, serious now. Unless this player is playing well post flop, you have an ideal situation here. If he is playing well post flop, well you have a fun time ahead.

Here is what I do... YMMV

1) I play more hands in position. The players raise is treated now as a blind to me. Avoid multiway pots with marginal hands, isolate with premium hands.

2) I will play more out of the blinds if I am fairly sure its going to be HU to the flop. Example maniac is in MP and makes his standard "I raise every hand blind raise" and it folds to me in the BB. I am playing here with many hands.

3) I am playing lots of hands versus this player. I want to see flops and showdowns with made hands. I am using a lot pot control for one pair and drawing hands. I am overbetting monsters and make thin calls/value bets with made hands.

The more hands I play against this player, the better my read will be and my aggression will ramp up. After a couple of hours I normally expect to be playing for stacks with any hand that sees a showdown.

4) This is a high variance game. Be prepared to lose and lose a lot before making a profit. If you can not mentally handle getting stacked with his crap hands with a laugh and a smile, its time for a table change.

5) There are a ton of meta game considerations in this situation. A lot of which doesnt translate well to this media. Let me just say that you need to keep this player happy and having fun. The last thing you want to do is run him off or let the table run him off. Otherwise he is going to hit and run on the table or he is going to bust and leave instead of rebuying into a fun game.