[Micturition Man]

The main reason you want it heads-up is that, if you flat call 3rd, you would be letting them in for one bet in a pot that's 4 bets + antes.

Calling would only be FTOP incorrect for them if they have
a pair with no straight or flush possibilities (or a pair that happens to be very dead).

That's a very big pot for heads-up action and makes you solidly +EV agaisnt QQ.

Four-way action is very possibly -EV if your opponents have decent draws, once you factor in reverse implied odds.

Specifically the best draw is usually pretty close to even money 4-way, and a lesser draw is not in as good shape but is still very +EV on a call.

Also the intuition that a hand like ATT doesn't mind multiway action because you are shooting for aces up anyway is not really correct.

It's true you suffer somewhat less from multiway action than QQ with a random kicker, but you still take a big equity hit from those times that you make a running two pair weaker than aces up that would have beaten unimproved queens, but now loses to a bigger two pair or a straight or flush or trips.

Incidentally the antes are not as important here as people seem to think. The pot is 4 handed and 3 bets have gone in by the time the action gets to you... the antes are unlikely to be swinging your decision now.

I still think a 3-bet is the correct standard play, but if you thought nobody would fold it's wrong, at the least for tactical reasons.

It feels like a call should be correct (rather than a fold) even if you somehow knew neither opponent would fold, but I'm not really sure... if you thought you were up against QQ + two legit draws maybe a fold is right.