Observations:
1. This is happening at a four player table. Very short handed poker is more situational & villain dependent.
2. Hero is playing 135bb. Not that deep but no where close to shallow stacked.
3. AQo is a "top-pair" sort of hand meaning that value typically come from flopping top pair. This type of hand doesn't do well on wet boards or deeper stacked.
4. Hero is play out of position. We saw how painful this can be in a previous strategy post by Hero.
5. It matters if this is a table of random internet players vs people in an on-line home game.
6. It also matters if everyone is making the huge hand ranging adjustments for the tiny table. Villain should be raising half his hand here. Hero could be 3-betting rather "weak" hands from the perspective of a full ring player.
Preflop: AQo is roughly a 7th percental hand. This is an excellent hand for a four man table. Villain can easily be stealing blinds with a min raise. And if he isn't, Hero's hand is way ahead of villain's range. A three-bet is a reasonable play. The SPR post flop will be uncomfortable. Hero is going to be c-betting air a lot.
< Villain likely should be 4-betting 99 if Hero is using a short handed sort of ranges. 99 is ahead of Hero's range and that player has position. The preflop lines seen a lot more like what I might see at a full ring table. >
Flop: This is not the best flop for Hero. Yes he got top pair / top kicker but this may become a problem. The SPR is ~eight and the board is wet. I suggest a generally passive line. Bet/fold flop, check/call turn, check/fold river. Hero needs to be able to live with being outplayed here. Villain has many advantages. All hero has is top pair with no other significant prospects. Hero's goal needs to be preservation now, not extraction. Hero gets to make/call two bets maximum for the rest of this hand.
Turn: The pair board is a mixed blessing / curse. More curse than blessing. No more aggression from hero unless he makes a full house. I am inclined to check/fold vs a random on-line player. Hero could be drawing almost dead vs trip tens. Again, it is ok to be bluffed here.
River: So what types of villain holdings are calling a third barrel? The read is the villain is a thinking player with good post flop skills? And once hero fires the third shot and gets jammed then the only hope is villain is bluffing a missed draw. Which isn't crazy - villain's line is polarized. Slow played monster or missed draw.
Let's note that the last decision was the critical one. Over half the losses came there. And yet, it is the one decision that wasn't discussed. Sad - - - it was THE important choice.
Hero made a meta-scale blunder. He has enough of a read to know his holding is going to be troublesome on this board. Three streets of value plus a bluff catch attempt vs a skilled thinking player is a bad plan. < or the villain read was wrong. A skilled villain should be semi-bluffing his/her draws > My guess is Hero didn't plan his post flop efforts. He made decisions street by street, each of which were "reasonable" and yet lead to a predictable disaster.
DrStrange