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  1. #1
    Semi-Pro Moderator KnightofNarg's Avatar
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    Default Pot odds and Implied odds.

    There was a recent post where someone had folded because they were not getting good enough pot odds, and hadn't considered implied odds at all. There was also some confusion about comparing Pot odds to drawing odds. So I want to clear this up.

    -Say you're getting pot odds of 2:1 and the odds of winning is 4.22:1. You're getting bad odds to call since the amount of money you're putting is less than your chance to improve.
    On the other hand if you were getting pot odds of 5:1 and your chance of improving was 4.22:1, that would be good. You're have a better odds to improve your hand than money you put in.

    Now looking at pot odds alone is a mistake, we also can include our implied odds. The money we can expect to make on a later street, justifying a call with bad expressed pot odds.

    We have a flushdraw, opponent bets $5 in a $10 pot on the flop. Pot odds are going to be 3:1, Draw odds are 4.22:1. This isn't too far off and we shouldn't need to make much more to makeup the difference.

    But how much do you have to make up? This is where it is easier to use odds in place of percentages or the 4/2 rule. Simply, you have to take the difference of your drawing odds and pot odds, multiply that with the bet, and there's the answer.

    So in the above example. You have drawing odds of 4.22 and pot odds of 3:1, difference is 1.22. So you take 1.22, multiple by the bet of $5, and you come up with $6.10.
    When we call, the turn pot size will be $20. We only need to make up $6.10 between the turn and river. This should be pretty easy to do. Against a pot sized bet it might be harder to make up the money ($22.20 in a $30 pot), so it those situations you're going to have to have some reads.

    There still are a few other factors to consider, including position.
    -On the flop, if you're up against an opponent who continuation bets the flop, but rarely fires two barrels, you're in a far better situation. You can make a smaller pair which may win if checked down, or given a free river card to hit your flush.
    -Alternatively, you could go for a turn or river bluff once and a while, which will also help to make the situation more profitable.

    I hope this helps some of you guys out there, give me some feedback plz!

  2. #2
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    What do you mean by 'how much you have to make up'?

  3. #3
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    I was wondering the same thing. What do you mean when you say:

    We only need to make up $6.10 between the turn and river
    ?

  4. #4
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    It means that every time you make the call technically, you're losing $6.10, so it's -EV or a bad call.

    However, with 'implied odds,' if you think you can make up that $6.10 (or more) on future streets should you make your hand, than you can justify making a bad call now, to make your hand/pick up the pot later.

  5. #5
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    I think I understand-- as long as you think you can get the other player(s) to kick in $6.10 in future bets after you've made your hand, it is worth playing.

    Really well-explained. Thank you!
    Last edited by bluescreen; September 3rd, 2011 at 09:06 AM.

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