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Its more common in heads up, yes.

In multiplayer you see it where ranges are narrowed, like 3bet pots or on turn/river

It matters less than you'd think because overbets imply you have a polarized range (nuts or air). You generally pick the bluffs to be hands that have cards blocking the best calling hand combinations.




Okay, that makes sense. I think it matters some still because if someone else has nuts, then they automatically know you are bluffing, and the more players still in the pot the more likely one of them has nuts.




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