Explanation of Family Pot
In high level games, the vast majority of postflop scenarios are heads-up, with the occasional 3-way pot. Pots with 4 or more postflop players are somewhat rare (apart from in very soft games). As such they have been given their own name “family pots”, presumably because so many players see a flop that they could represent an entire family.
Example of Family Pot used in a sentence -> Hardly anyone was folding preflop so it was one family pot after another.
How to Use Family Pot as Part of Your Poker Strategy
It’s quite hard to get bluffs through several opponents, so in most cases it makes sense to tighten up and play primarily for value, regardless of the variant being played.