Should I have folded this Pre Flop?

[bjsaust]

Normally medium pocket pairs I'd call 4-5x BB with the hope that if it hits the set I can double up. Now in the hand below I would normally fold to a 7 BB raise, however my reaction was more callers = more likely to take a stack if it lands. Now I'm wondering if I should consider more callers = more likely to be beaten even if it lands. Or just plain, too expensive to play in. Not sure how my thinking should go in this situation.

PokerStars No-Limit Hold'em, $0.02 BB (7 handed) Hand History Converter Tool from FlopTurnRiver.com (Format: FlopTurnRiver)

BB ($1.86)
UTG ($0.68)
MP1 ($5.94)
MP2 ($9.38)
CO ($5.84)
Hero ($3.92)
SB ($2.50)

Preflop: Hero is Button with 7, 7.
UTG calls $0.02, MP1 calls $0.02, 2 folds, Hero calls $0.02, SB completes, BB raises to $0.14, UTG calls $0.12, MP1 calls $0.12, Hero calls $0.12, SB folds.

Flop: ($0.58) K, 8, J (4 players)
BB bets $0.42, UTG raises to $0.54, MP1 folds, Hero folds, BB calls $0.12.

Turn: ($1.66) J (2 players)

River: ($1.66) J (2 players)

Final Pot: $1.66

[taipan168]

My general rule with pocket pairs is that I will call a raise provided that I can win 15 times the chips that I need to call. Basically, you hit a set 1 in 7.5 times and assuming that (on average) you win half of opp's stack (or your stack if that is shorter) 50% of the time then that's where I get the 1 in 15 number from.

In this case, since you can win at least $3.92 by calling $0.12, it's an easy preflop call. Once you don't hit your set on the flop, instafold with that action in front.

BTW, always buy in for full. How bummed would you be if you did hit your set and MP1 was giving you action?

[bjsaust]

Good point, thanks for the tip.