Is this the correct formula for pot odds calculations?

Amount in the pot + oppenents bet / what I need to call?

Compare. If the pot odds are more than the card odds I call?

Yes, (Pot+Bet)/Bet is right. Pot of 30, bet of 20, (30+20)/20, would be 2.5:1

Generally yes, if pot odds are more than card odds you can call.
A flush draw is 4.22:1 to hit (38 Bad Cards / 9 Good Cards). So if you were calling the bet in the above example, you couldn't call based upon pot odds alone.

There is implied odds as well (especially if you play NoLimit).
The difference of the odds of 4.22 and 2.5 is 1.72. So you have to make up 1.72 x 20(Bet), or 34.4, to make your call at least breakeven.

Sorry I missed your other post, but the odds would be 7:1 (60+10)/10 in that example

Should I factor in pot odds pre-flop, and if so how? There's nothing to compare. Also, should I factor in pot odds on a raise I make?

Preflop, pot odds usually aren't a huge concern. Usually you should just play a pretty tight range until you've gotten some reads and get more comfortable playing a wider range late position. Though with pocket pairs and suited connectors you do want enough pot odds+implied odds to make playing them profitable.

When betting or raising, you're mainly going to be thinking one of two things...

When value betting you think does your hand have >50% against your opponent's continuing range, but the pot odds you're offering to your opponent is going to affect their continuing range.

When bluffing it's do I have enough fold equity? To determine if a fold is profitable you take Bet/(Bet+Pot).
So if you bet 20 into a pot of 30, you'd take 20/(20+30) = 40%. So they have to fold at least 40% of the time for your play to be breakeven.

Somebody recently compiled a great list of threads on my home forum of flopturnriver, take a look and see if any will help you out.

ftr threads - Poker Forums

I should have done better in math class, but had no clue I'd end up at a poker table, lol. Once I have a pot odds ratio of say 8:1 how do I convert that into a percentage to compare to the card percentage? Is 8:1 another way of saying 80%?

8:1 means, 8 possibilities one way, 1 possibility the other, together there are 9 possibilities.
So it'd be 1/9, or 0.111~

How does that relate to the hand?

I just realized x100 that would be 11%

Originally Posted by Poker92

How does that relate to the hand?

Yeah, I should've said 11%. I'm feeling pretty out of it due to allergies and pills