Part: Part Six - Betting After the Flop

Raising a draw on the flop

Flop
Heads-upPot 1,500 (7.5 BB)Q♥8♥3♣BTNA♥K♥● 25,000 (125 BB)YOUnut flush draw + two oversMP● 25,000 (125 BB)Openerbets 900 (4.5 BB)D

You called a middle-position open on the button with A♥K♥. Flop Q♥ 8♥ 3♣ - the nut flush draw plus two overcards. He c-bets.

A monster draw (nut flush draw + overcards) in position, he c-bets. Best?

WhyCount your outs: nine hearts to the nut flush, plus six more to top pair with the ace or king - that's more equity than his c-betting range, and you have position. Raising stacks a second way to win, folding him out now, on top of all that equity. Flatting just calls and hopes, under-using a draw this strong.
What happensYou raise to 2,600, he calls, and both the turn and river brick - the flush never comes and you lose the pot. That doesn't make the raise wrong: with this many outs plus fold equity the play prints over the long run, and this was one river where it didn't hit. Right decision, unlucky result.
You raised a monster draw as a semi-bluff and it bricked - and it was still the right play. Big draws profit from fold equity plus outs; this was one of the times it simply didn't get there.

Raise big draws as semi-bluffs: with more outs than the c-bettor's range and fold equity on top, you win by folding him out now or by hitting later - judge the play by the equity, not the river.