Understanding Pot Odds

An understanding of Pot-Odds can improve the profitability of your poker games. The math behind using Pot-Odds to make decisions in poker is actually very simple. This article looks at what Pot-Odds are, how to quickly calculate them and then discusses some examples of how to use them at the tables to make decisions.

Calculating and Using Pot Odds

Pot-Odds can be calculated by simply dividing the total size of the pot by the amount it costs you to call a bet. For example if the pot is $10 and it would cost you $2 to call a bet then your Pot-Odds are 5-to-1.

The most common use of Pot-Odds in poker is where you have a ‘drawing hand’ such as 4 cards to a straight or flush and need to improve to win the hand. Here you need an additional piece of information – the number of cards that can come on the turn or river that would make your hand - that is the number of ‘outs’ that you have.

We will use the example of a flush draw. After the turn is dealt in Holdem you have 4 cards to a flush, 2 in your hand and 2 on the board. Your opponent bets $2 making the total pot $10, giving you Pot-Odds of 5-to-1. Should you take this bet?

Of the 52 cards in the deck 6 are known to you, the 2 in your hand and the 4 on the board. This leaves 46 cards unaccounted for. Since there are 13 cards of your suit and so 9 left in the deck – your chances of hitting are 9/46 or just over 4/1. Since your chances of improving to the best hand are greater than the Pot-Odds you are being offered you should call – this bet will show a profit over time.

Determining Expected Value

The real key to using Pot-Odds to make decisions in poker is to check that your bet has a positive ‘expectation’. This describes whether a bet would win money over time if it were possible to repeat it 100’s of times.

If the Pot-Odds being offered are less than the chances of improving then your call has a negative expectation – you will lose money over time regardless of the outcome of any individual hand. Winning in poker involves taking as many positive expectation decisions as possible, if the Pot-Odds indicate a call then make it safe in the knowledge that the profit will eventually come to you.

Pot-Odds can also be used to make good poker decisions when you have a ‘made hand’ and you think your opponent may be drawing to a flush or a straight. Especially in No-Limit Holdem you should make sure that you bet enough so that your opponent can not profitably call. If you offer them bad Pot-Odds and they call anyway then that is fine – their call will lose money over time!

Implied Odds

There are situations in poker where you may make a call without the correct Pot-Odds and still show a profit. This is where you expect to make more money on later rounds of betting if you make your hand. These extra bets are known as your ‘Implied Odds’. For example if you have a loose opponent and are offered only 3-to-1 on a flush draw you might call – if you expect to win 3 or 4 times your investment on the river if your flush comes in then the call can still show a profit. Be careful with this concept until you are comfortable with the idea of Pot-Odds, Outs and Expectation. Different opponents and situations may change your implied odds considerably.

To summarize, Pot-Odds are calculated by dividing the amount you need to call by the current total pot size. Pot-Odds are used to make good poker decisions by comparing the odds to your chances of improving to the best hand (that is your number of outs). Controlling your bet size to make an opponent’s call unprofitable, and assessing the number of extra bets you might win if you make your hand are further used of Pot-Odds in poker.

Previous: Different Poker Opponents | Next: Online Poker Tells