A preflop raiser enjoys a significant range advantage over a BB caller, enabling them to continuation bet most flops at a high frequency, usually for a small size, without fear of exploitation. There are exceptions, however. In some scenarios, the preflop raiser’s equilibrium strategy involves checking more than half their range on the flop. This is the case even on some flops where they have significantly more equity than the BB. Such scenarios occur more commonly when the preflop raiser is in late position and when stacks are shallow.