3-bet or fold is the default, but there are hands and situations where cold calling from the BTN is the most profitable play.
A cold call is calling an open raise preflop without 3-betting. A call from the BB doesn't count as a cold call since you've already invested 1bb.
The BTN is always IP after cold calling. This is the sole reason cold calling can be profitable.
| Position | Cold Call Problem |
|---|---|
| UTG–CO | Players left to act → risk of getting squeezed |
| SB | Always OOP postflop → poor equity realization |
| BB | Already invested 1bb → this isn't a cold call (it's a defense) |
| Criterion | Cold Call | 3-Bet |
|---|---|---|
| Position | BTN (guaranteed IP) | Any position |
| Hand Strength | Medium (too weak to 3-bet) | Strong or bluff |
| Objective | Extract postflop value IP | Build the pot or induce folds |
| Players Behind | Only blinds remaining | Doesn't matter |
Source: GTO Wizard Blog
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