Defend A5o vs limp wider but mostly call; once we raise and see a K-high flop, checking down is best, and on the river a small bet or check with top pair is higher EV than a big bet.
Flop K-T-4 with two clubs, three-way. UTG and SB have more strong Kx and Tx than we do, so checking our entire range is standard. With A5o we have ace-high and no real equity or blockers, so betting would just burn chips; checking and seeing what UTG and SB do is the right idea.
Turn 7d is a brick that doesn’t change much for us. After three checks on the flop, UTG’s range is still strong but condensed, and our A5 is still just ace-high with no real blockers. Betting now would mostly fold out worse and get called by better; checking again and taking our showdown is best.
River Ah gives us top pair but UTG still has more strong Ax and Kx. Theory leans toward a mix of small bets and checks with this combo; a small bet targets worse Ax and some Tx, while a check avoids getting raised by stronger Ax. The 15bb bet into 16bb is over-optimistic and mostly gets action from hands that beat us.
Note: River bet sizing is too big; a small bet or check with top pair is higher EV than a large bet that mostly gets called by stronger Ax.