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The sad fact is some actions in poker are decidedly weak, and yet still the best (most profitable) decision. It could be that this guy was floating on you but if he wasn't, with that kind of board he's probably way ahead of you. Without a very detailed read I'm not generally going to take a chance on another c-bet on the turn here. But I think you would have had better information with a 3/4 pot bet on the flop.
benny - in response to your question, yes, absolutely it does. Discounting aware players for a second, plenty of players will call a 1/2 pot bet on a small pot with any two overcards, gutshot draws, even backdoor flush draws. At low stakes you can't discount anything, even if you peg the player as solid. And speaking of solid players, someone who is thinking is aware that he has position on you and that the board is crummy. He perceives a 1/2 pot bet as a typical c-bet (especially if he's read any Harrington on Hold 'Em, or just heard the term "continuation bet") and may float on you with absolutely nothing, thinking to pick up the pot later. A lot of players very specifically do this with crummy hands like gutshot draws because they figure they have 4 good outs to fall back on, but if they don't make their outs and the board stays raggedy, they can steal from you when you inevitably slow down in your betting. Or they may do it with nothing, because they "put you on overcards" (I've heard that expression a few million times) and decided to "keep you honest" (that one too).
So to sum up, betting 1/2 the pot on a small pot will invite a surprising amount of action from fishes and aware players alike. A minimum 2/3 pot bet (and I usually lean even a bit higher, in the 3/4 range) says you're serious.
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