Odds Pot and Otherwise

The term odds is used in many different ways in any discussion of proper tactics in poker.  They are also depicted in many way, but no matter how you say it are how you depict it you are still talking about one thing,  MATH or more precisely fractions and percentages.  Some people are lucky enough to have the talent of doing it in their head, but for many it can be a significant problem to do it on paper, much more so quickly in their head while under some pressure   Taking out a calculator at the table is consider rather rude, and inappropriate.  Even online All of the only one of the available poker aides calculate the pot odds for you, Poker Office.  I have actually use my contacts, through 5th Street Magazine to contact several publishers to suggest that they add pot odds to their application.  For the odds of making your hand, especially in Hold'em it is quite a bit simpler since the odds never change simply get a good chart and memorize them.  (Download Here.) In Stud we are back to mental calculations, but they aren't that difficult

The discussion is even further complicated by listing odds in several different ways.  The can be listed as a percentage chance of completing your hand, like 20%.  They can be listed as 1 chance in 5, (1/5).  They can be listed as a 1 to 4, (1:4) chance of completing or a 4:1 against.  None of these take into account that you might make your hand but still lose to a better hand.  Too many discussions flip back and forth using all of these conventions.  We'll try to stay to one constant.  The chances of completing your hand, 1:4.  When discussing pot odds we will also use the bet size to the pot size.  This way you can make a direct comparison.  Using the example above if the pot odds are greater than 1:4 say 1:5, we call.  If they are less, 1:3 then we suggest folding. Now since many others articles switch back an forth.

odds="percentage chance of success" to "percentage chance of failure"

So in the example above the odds would be 20% to 80%  we can quickly covert that by dividing by 20%  (20%/20%) to (80%/20%)  or 1:4

Another example:  15% chance of making our hand is 15%:85% or (15%/15%):(85%/15%) or 1:5.6

Or since the odds never change in Hold'em here are some common conversions.  Odds are rounded down to the nearest half.  I have provided only the odds one card for a reason that should become clear later.

*Best draw:  KhKd   <Qh,Jh,Th> <Ks> <?> 4xAs, 4x9s, 3xQs, 3xJs, 3xTs, Kc, and the 7xHearts remaining. 25 outs.

So you have an opened ended straight draw and a pair, but there are 2 flush cards on the board.   Let's count the outs, 4 on each end of straight minus  the cards that would put the flush cards out is 6, plus the 2 cards that give you trips.  That is total of 8 outs. Now we put that to the number of cards remaining in the deck that does not make our hand.  (47-8) or 8:39.  Divide both sides by 8,  (8/8:39/8)= 1:5 (well almost anyway.)  If that is still to much download a copy of the chart here and make it you desktop.

Here is another way that you might find quite simple that doesn't require as much division.

Caution the above example is not a proper calculation of the pot odds if you are not drawing to the nuts.  If you are not drawing to the nuts you must also factor in the additional bets you must put into the pot, when your hand is not the nuts and may be beaten.  So if your straight draw is not to the nuts, you must add the $2 call this round plus the $2 bet on the next round so your pot odds become (2+2):(8+2)=4:10 or (4/4:10/4)=1:2.5.  Your implied odds actually got worse.

This error is one of the most common in poker.  If you are not drawing to the winning hand, you should not use implied odds. Be aware of all the possible hands on the board and what can beat yours.  "If there is a pair on board, there is no nut flush."  -ot