[JasonKirk]

In California card rooms they call these games "no fold'em hold'em" - like Rocktop21 says, the suckers just can't be run over. Spend enough time in one of these games and you'll see more suckouts than you ever thought possible, just because no hand is much of a favorite when there are eight to ten players contesting every pot. Morton's Theorem applies to these games. If you've never heard of it before, it's a bit of mathematical theory that basically says the more players there are involved, the more money from each pot will go to the player with the best draw.

The best chance you have at making money in these games is to play hands that have high card strength *and* drawing strength - you'll always have the odds to draw thanks to all the bad players contributing to the pot, but even when you miss your draws you'll still have the opportunity to win by pairing your high cards. The odds are the most important thing here - even if you feel like you're "chasing," the fact is that your calls are mathematically correct with enough other players in the pot. You'll toss away chips sometimes but you'll also win often enough to be profitable.

Like Hayden has noted, though, the rake can kill you here. Try to put those drawing hand profits to good use by moving up levels as quickly as possible. The competition is rarely much better in the next highest level, and the rake doesn't cut into your profit nearly as much.