What Are Odds? Why Are Odds Important?
1. Pot odds: The pot odds are the ratio of the size of the pot to the size of the bet. For example, if the pot has $800 in it, and your opponent bets $400, the pot is $1,200. For you to call that bet, you have to put in $400.
Therefore, the ratio of the size of the pot is $1,200, to the size of the bet or $400. $1,200 to $400 is 3-1.
2. Why are Pot odds important: The pot odds are important since you want to make bets where the pot odds you are getting are better than the odds of you making your desired hand.
In the above example, if you flopped a straight draw your odds are about 2.2-1 to make your desired hand by the river. Therefore, assuming you are going to the river, you are getting favorable pot odds and should call the bet.
3. Implied odds: Implied odds are based on how much you expect the pot to be at the end of the hand. It is often calculated where you plan to fold if you miss on the next street, but you will continue to play if you make your desired hand.
The implied odds are important since there are times where the pot odds are not good enough to call a bet, but the implied odds change a fold to a call.
Using the above example, if your opponent had bet $1,000 into the $800 pot, your pot odds are $1,800 to $1,000 or 1.8 to 1. These odds are not favorable for a straight draw. However, if you and your opponent have deep stacks, and your straight is not obvious when you hit, you may be getting favorable implied odds to make the call.
That is, if you hit your straight on the turn, you might estimate that your $1,000 bet will end up in your winning a pot of $5,000 or more. That would mean you believe you are getting implied odds of 5 to 1.
Learn to use the odds in poker like a poker pro. Learn the plays the pros make and find out what you know by taking the Free Poker Evaluation at http://www.apokerexpert.com
Mitchell Cogert is the author of “Tournament Poker: 101 Winning Moves.” After reviewing over 20 years worth of poker materials with heads-up battles against poker pros, he has identified the top 101 expert plays used by the pros. His other poker book “Play Razz Poker to Win” was selected by PokerStars IntelliPoker to be used on their site and translated for their international website. For more information http://www.apokerexpert.com