Originally Posted by BLieve
Does anyone know of a good source or have examples of situations where betting for information was used?
Often in Razz or Stud 8, hands run very close in value, that spending an extra small bet on an early street will save you a big bet or two on a later street because your opponent will define their hand.
For a Razz example: A 5♠ raises in late position, and you're the last player to act before the bring in with some cards you want to play. Often you'll re-raise the 5, because most hands you'll want to play aren't a big underdog to even a hand like a 3-card wheel. But most players won't 3-bet you without a strong hand. So the raise defines their hand, and also gets that player to put more money in the pot with their late position stealing range. And it may cost us a fraction of a small bet if we're against an actual big hand, but it might allow us to save a big bet later.
But yes, to get back to what Belgo said, betting for information in a No-Limit game is usually very bad, and even in Limit its rare to raise purely for information. Usually the information you get is often wrong, and its not worth the price you paid for it.