Reraising or folding: a discussion

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Me and BW and ImsaKidd are discussing the merits of reraising or folding.

Here is the situation: Villan is a relative unknown, 28/15 so laggy/tag whatever. 100bb stacks, Hero is TAG.

All fold to villan in the CO, who raises 3.5xbb. You have 88 on the button. Your play? Assume no history between you.