Details, details....
A $1 bet into a multi-pot is almost always better than a 50c bet.

Once you got 'em heads up it's a whole different ball game.

I like that little trap, will have to keep it in mind. Although how can you be sure they're chasing and not just calling you down on a very marginal hand (second pair, pocket pair with an overcard out, Top pair no kicker, etc?) Or chasing a straight/flush with pair already made. In that case you're losing a potential value bet since they will just breath a sigh of relief and call that 50c.