[Virge]

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Also I have to err on the side of tightness since the rake is so high.

Just wait and shove big hands and hope to get paid off? Given I only have enough chips to fold 40 hands this seems a bit optimistic.

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Just think of the math of this game if it was a tournament. You basically have an M of 4. Normally this is AIOF time for a tourney... obv that's not a good idea for a cash game, but you are going to end up all in a lot, and 88 should be within your pre-flop all in range depending on your position and reads.

As for tightening up because of the rake, I dungeddit. The antes demand that you play looser or you're going to bleed to death (4 rounds without a hand, you've dropped a buy-in).

Personally, I'd fold (without great cards) until I was in good position and/or able judge how people had adjusted to the insane ante/blind structure. If they're making donkey bets and raises (i.e. raising to $20 or $30 with a $100 pf pot) I'd be bullying in position with not much. If people are only calling all ins (or re-raising all in if you raise/bet less than all in) with JJ+ then you only have to win 4 (just antes) or less (if you get early raisers to fold) by not getting called to be freerolling for when you do get a call.

For the basic answer to your 'should I play' question though.. NO, unless you're not in it for the money and you don't mind the risk of dropping multiple $400 buy-ins. If you're a limit guy and there's a 5% uncapped rake I don't see any +EV for you here. As a limit guy you could sit around low/med stakes NL game in Vegas and only peddle stuff approaching the nuts and come out a bit ahead, but in a game like this you're gonna have whiplash at the pace of the action.