[elindauer]

(At the risk of incurring the rath of the mods, here's another essay. I lost formatting think it should still be readable)

What makes a maniac? Although this article has useful concepts for handling a merely loose and aggressive player, keep in mind that it is focused on beating a true maniac. This is a rare player, the kind of guy who seems to do nothing but press the raise button, no matter how many players are in or what he has. You don't encounter these birds very often, but they are extremely profitable to play against, if you know how to handle them.

Key #1. Value raise! This is the single biggest mistake I see made against a true maniac. Most players figure fairly quickly that they shouldn't be folding anything of value when the maniac shows aggression... but they still play FAR too passively. There's just something about putting in 8 big bets postflop with 1 pair that they can't get behind.

They are giving up a lot of value with their passiveness. The true maniac is going to give you a ton of action with 1 weak pair, and often times with hands that are even worse. The maniac is also likely to call the river with very weak hands, paying off in situations where a normal player would have figured long ago he was behind. You MUST value raise these guys! Imagine that your opponent is playing essentially random cards. Are you the favorite against him? If so, a raise for value should be strongly considered.

Key #2. Embrace the variance. You can't play proper poker against a maniac without losing a few hands. You are certainly going to be outdrawn. You're going to give 7 big bets of action with one pair, and run into a set. That's ok. Keep at it. You will come out ahead later in the night. Failing to value raise a decent but non-monster hand can cost you many big bets against a true maniac. Grab these bets when your hand holds up, and you won't need to worry so much about the occassional outdraw. You'll be paying him with his money anyways.

Also, by giving the maniac plenty of action with your good but not monster hands, you'll find that you are the most likely player to bust him. There is nothing more painful than going into a shell waiting for aces so you can play the maniac, only to discover that he just been busted by your looser playing opponents. Get involved!

Key #3. Risk bets to win the pot. Many players are aware of the idea of risking an extra bet or two to win a big pot. It's the foundation of hold 'em strategy in big multiway pots. In fact, most players vastly overestimate the value they pick up for an extra bet vs the cost in a typical pot (see the articles on small pot play for more on this!). Yet these same players go limp and passively call down when faced with a true maniac. His total aggression intimidates them... "sure, he's a maniac, but he just capped the flop and bet the turn against 3 opponents!"... you must get over this fear to really make big bucks against the maniac. If the maniac has capped the flop against 3 opponents, then the pot is huge. If you have a hand worth showing down against the maniac, you must seriously consider raising his turn bet. Note that you are using his aggression to really put pressure on your opponents... it's very difficult for them to call down with 1-pair at this point. Using the maniac's aggression to knock out the best hand is a key strategy in these games.

Key #4. Know your opponents. Before settling on the best course of action, it's critical to know how your opponents are going to play. The best opponents are tight... you should then frequently use the maniac's aggression to knock them out and take your chances against his random cards. But beware overusing this strategy... if you acquire a maniacal image yourself, you'll have deprived yourself of a great weapon. Every time you fold you're building up a little tight equity... wait for just the right moment to use it!

Also critical in your strategy is knowing whether your opponents are going to showdown 1 pair in the face of multiway aggression between you and the maniac. If they are tight and can be pushed off all non-monsters should you and the maniac get in a raising war (and most players are this way), then you have a golden opportunity to make a boatload of cash. Remember though... we're talking about the true maniac here, who will bet and raise with anything! Basically anytime you are the favorite against his range, you can use this move (and sometimes even when you're not... maniacs sometimes produce really big pots).

Key #5. Know yourself... or at least, know what your opponents think of you. along with Key #4... if you make a few moves early and show down a weak hand, be prepared for your opponents to notice this. I generally go through distinct gear changes when playing a maniac... play tight for a while, then get aggressive, play tight, play aggressive... trying to judge when you've folded enough to make a move on a guy takes practice, but half the battle is realizing that you need to be thinking about this to begin with.

Key #6. Know the maniac. Most people have very little trouble with this, as he is the center of attention. It's worth mentioning though, that you really want to know the maniac's game. This let's you notice deviations from it... for example, if he checks in a spot where he would normally bet, that should peak your interest and you should be less inclined to give huge action with a good but not great hand. Watch for gear changes and tempo changes... anything that suggests that the maniac may be playing this hand a little differently. Even maniacs take a few hands off, and anything you can do to sense when he's slowing down a bit will really help your results.

Key #7. Don't trap! Being able to represent a big hand by simply raising the maniac's bet is crucial... you can steal huge pots by knocking out tighter players with constant aggression from a good but not great hand. To keep up this image, you must let your opponents know that you will be fastplaying all strong hands. Don't fear knocking them out... most of the time, you are happy to have them fold and let you play the maniac heads up.

This is why the best place to be is on the maniac's left... sure, when you are on his right, you can check and try to trap the field, but you rarely have hands that are strong enough to want extra action. The few bets you gain in that position are easily lost to a wise player on the maniac's left who uses the excess aggression to push you off a weak made hand and steal a huge pot.

Key #8. Throw him a bone. Don't be a super-nit against the true maniac... you want to get involved with some weak hands, and then give up if you don't improve. You shouldn't be waiting for monsters against this guy... flop just a pair and you have a very profitable situation!

When you do fold, give it a little thought. Let the maniac know that you believe him, and he's made you fold a little bit of a hand. You should also be thinking just a touch when you are in call down mode, even if you have no intention of folding. Don't overdo it... we don't want things to slowdown. Keep him in rhythym. But pause just enough to let him know that you thought about it. That's all the encouragement a true maniac needs to keep trying to bluff you all night long.

A few example hands. Here are a few hands that I've actually played against maniacs in the past...

Hand 1 - value raising a mediocre hand

The maniac open raises the CO and you 3-bet AT on the button. You are fortunate to catch a good flop:

Ts 6c 2s

The maniac bets into you, you raise, he 3-bets. You obviously think you have the best hand at this point, but still this is a good spot to just call, planning to raise the turn no matter what comes. When you can, let the maniac stay in the lead, giving him as much room to bluff you as possible.

Turn: Kd

The maniac leads. Don't get timid! Raise! Your hand is a huge favorite against his range. You raise and the maniac 3-bets. You should STILL think you have the best hand. Crazy? Remember, again, that we are talking about a true maniac here. My favorite play here is to just call, planning to raise the river.

River: 2c

The maniac leads... raise! These turn and river raises are the kinds of value bets that most players miss in these spots, and it really costs them a lot. Sure, you might lose, and you're certainly going to be 3-bet if you are behind. But that's just it... you are probably going to be 3-bet even if you are ahead, and you are a big favorite to have the best hand, so you WANT to be 3-bet!

I played exactly this hand the other night and just called the river 3-bet. Frankly, I probably should have capped it, as this was just one of many hands I played just like this where my hand is good. The maniac held a missed flush draw here.

You know how long it took you to make all those super-thin heads up value bets, where you, say, value bet pocket deuces unimproved because you're expecting ace high to call you? This is exactly the same way. It takes a little getting used to, but boy is it profitable.

Hand #2 - pushing a player off a better hand

A tight player raises in early position. He's been sitting and waiting for cards all night. The maniac calls in the CO, I call with 77 on the button, both blinds call and we see the flop 5-handed:

flop: TT5 rainbow

EP bets. Maniac does what he does. I 3-bet! hoping EP has, perhaps, AK or AQ, but also setting myself for a big steal. pfr calls 2 cold. Yuck. Maniac caps. EP calls again... but I'm getting the distinct feeling this tight player has a pocket pair, and is not enjoying this raising war!

turn: 9

EP checks, the maniac bets... I raise! I'm planning to keep the pressure on the 3rd player, since my hand is a favorite against the maniac, and the pot is pretty big. If I can only knock out EP, then all my raises are for value. EP thinks a while and folds, and the maniac... folds! A truly rare fold. In fact, he left immediately after this hand, almost broke.

Summary. Playing with a maniac can be a really fun and profitable experience. Most of the time you should be playing pretty straight-forward, waiting for good hands and then raising them. Sometimes though, you get the opportunity to really outplay your opponents. These opportunities will only occur a few times in the session, but play them correctly and you'll pull in extra monster pot or two that your passive opponents would have lost. Embrace the variance, get maximum value out of your good hands, and you'll be well on your way to a big day.