Play El Lliberti Theater
For a variety of reasons. If you are in last position with only a fair-to-good hand and the first player bets, you can call without having to fear a raise behind you. Players in early or middle position have no such comfort. If they call with a fair hand, they risk having to throw it away or pay a big price to continue when there’s a raise behind them.
Even in middle position with a big hand, you have difficult tactical decisions. If no one has yet bet and it’s up to you, you must decide whether to bet or risk sandbagging. If someone has bet in front of you, you must decide whether it is more profitable and tactically correct to raise, inevitably driving out some players behind you, or to call in the hope of some overcalls behind you.
In last position, you have no such problems. If no one has bet, you will be able to, and if someone has bet ahead of you, you are at liberty to raise or to slowplay after knowing how many players are likely to remain in the pot. If you have a big hand in last position, your advantage is even greater.