I play a lot of the 18-man 1.75 turbo's. Occasionally, I find myself in a situation similar to the following:
8 players left
Blinds 200/400.
My stack 1050.
Dealt 8s 9s on the button
Player 1 (stack 4K) raises to from EP to 800
Player 2 shoves his remaining 1200 and change
Player 3 calls (stack 8K)
Me? I call.
My logic is that I'm probably about 20% to win the hand, and if I win it, there's a very good chance of cashing. I'd have close to 5K in chips. Waiting around for a big hand before getting blinded out (and possibly still losing) seems even more risky, since I have almost no fold equity left. I probably do not even have pot-odds here, but winning this pot, as unlikely as it may seem, is about the only way to really get back into the game. Considering the hands already in the pot, calling with something like A6 suited would really be stupid, but suited connectors not as much.
Yes, I've done this, and sure, most of the time I bust. When I do win, I have a tendency to get deride excessively by the guy who lost with AK, AQ, or whatever. Heck, maybe someone even has a big pair, and I'm only around 16% to win it. Or maybe I'm just up against a few overcards and a small pocket pair, and I'm closer to 22% to win. So, I just figure around 20% on average.
Make sense?
EDIT: meant to save "overcards" instead of "overpairs"
EDIT2: Assuming I have 1050 left after the antes have gone in (25), that puts my pot at (most likely), 1050 x 3 + 200 (antes) + 600 blinds. So, I'm calling 1050 into a pot of 3950, giving me exactly 1 in 3.76 odds. That's slightly below the 1 in 4 that I should have. Adjusting my stack down to 800, I get exactly 1 in 4 odds on a call here.
Assuming I'm up against AA, KK, and QQ, I'm still 19%
If I'm up against AK, AQ, and KsQs, (or similar) I'm in pretty good shape (33% to win)
In other worst case scenarios (incl if I'm up against 88 and 99), I'm aound 15-17%.
