How do multi-way pots differ from heads-up pots?

The key difference is with odds calculations. When you’ve got A-A heads-up you know you’re in great shape, but when you’re in a multi-way pot your position is a lot more precarious. Say the blinds are 25/50 and you raise to 200 with A-A; if the person next to you calls it can start a limp-fest with many players entering for ‘supposed’ value. If one person calls with 10♠-10♥ in an attempt to hit a set or see a low flop the next person might call with 8♣- 9♣, and then the button could be justified calling with 6♦-5♦.