Overbetting is something that people do for a few different reasons. It is very common with online players. Some players know what they are doing, some enjoy getting lucky, and some like to bluff.

I have found overbetting early in an mtt can be a very useful strategy. I am a tight player, but when I get a hand I play the hand hard in hopes that someone (a fish) with a weak hand will take the bait. This tends to happen quite a bit because there is a lot of dead money early in tournaments. One word of caution is that there are a lot of bad players out there playing bad hands. So you will have to accept some bad beats in this situation. The reason why I overbet pots is to get people to think that I am trying to bet them off the pot when really I have the nuts. I know this is a common strategy in poker. It seems to work really well online.

Everything comes down to the situation though. If it's late in the tournament, I'm not going to put all my chips in if I am at risk of going out. Late in tournaments I am patient, but I'll overbet if there are enough people in the hand and if I feel I can get the other players to call me. Again if you are on the bubble of the money and want to at least get your buyin back, then I suggest you wait until you have the nuts before considering overbetting the pot.

Those are my thoughts on overbetting, and I know they aren't for everyone, but maybe someone will find it useful.