Poker OddsDefining Pot odds
The idea of pot odds is vital when deciding actions in poker play. Pot odds convey the relationship between the pot size compared to bet size. For instance if there is a $10 pot and, in order to call, you got to put in a $2 bet, you are getting pot odds of 5:1. Likewise if you have to call a $5 bet in the same $10 pot, you’d have pot odds of 2:1.
Size of the Pot
A player always ought to be conscious of the pot size. In case of Limits poker, count the number of bets in the pot rather than counting the amount of money. When bets double, for instance in Hold'em, reckon the big bets as two small bets. When Pot-Limit or No-Limit is the game, it is a bit more difficult to count the pot and the odds will perhaps not be as exact. Still, you must do it.
Using pot odds
Once you decide the pot odds, use the information appropriately. To do end, connect the pot odds to the value of your hand. This means you must be able to put your opponents on possible hands & consider your chances of holding a better hand than theirs. Suppose, you have a flush draw on the flop in Texas Hold'em and are up against an opponent you think has, at a minimum, a top pair. There are nine cards, called outs, that would give you a flush when you have flopped a four flush. It is indicated then that nine outs gives a 35% change, or 2:1 against, of making the flush on the turn and river combined. This actually means you require to have pot odds of at least 2:1 to call any bet on the flop.
Implied odds signify the relationship between the size of the current pot and the pot you expect to win. This means that on occasions the pot does not lay the right odds, when you chose to play expecting to get further action and win more when you hit the hand. For instance, in Limit Hold'em your adversary bets $20 into an $80 pot. Then your call gives you pot odds of 5:1 as you are risking $20 to win $120. However, if you expect your opponent to call a bet or raise on the river if you make your hand, your implied odds are 6:1 or 7:1.
Rule of Thumb for Omaha and Texas Hold'em
Every ‘out’ gives you roughly, a 4% chance of hitting on the turn and river combined. As an example, 5 outs gives you about a 20% chance of improving, 6 outs about 24%, etc.