Betting draws may be a good idea in limit so you get paid off when they hit and because you're guaranteed to only have to put in another small bet or two if you get reraised, but in no-limit, it is not smart to do that against someone who probably has a hand. Now, I'm not against using semi-bluffs, but it must be done when you believe you have a chance to win the pot right there. DO NOT bet your draw into a preflop raiser when the flop comes out with high cards and it looks like he/she may have hit.
I have AA and I raise my standard amount preflop and get called by one of the blinds. The flop is A76 two suited. Blind now bets pot into me. I've seen this player bet his flush draws strong in the past and believe that is what he is doing now. What else could he have? If he had a set, he'd slow play it into me. If he had a weak ace, he probably wouldn't have bet as strong. I raise minimum. He goes all-in of course and I call. Turns out he had QJ suited for a flush draw. The flop pot was $18. He put in another $145 on the flop to hit his draw. So he threw in $145 getting 145-308 odds. I probably would've given him a cheap (maybe free) look at the turn card since I had top set. Then he could've seen the river card relatively cheaply as well. If I were him, I'd play weak and only call small bets by the aggressor. I probably would've folded that draw against a pot sized bet figuring that if I missed on the turn, I'd basically be set all-in before the river appeared. I'll never understand betting a draw into someone who has already shown strength. I can however see betting your draw when you believe you can win the pot, like when it is checked around to you and there are only 3 people seeing the flop.
Be selective with betting your draws - don't just automatically bet them regardless of the circumstances.
Check out doubleas's book, Pressure Poker: Poker Strategy and Tools to Improve Your Game (also available in the PokerSavvy Shop)
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