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ODDS & CALCULATING OUTS 

Pot ODDS

Odds come into play many different ways in the game of poker.  The most critical part of understanding odds is being able to apply it to your poker game, as “making the statistically correct” play will maximize your winning nights and minimize your losing nights.  Now, it is important to note that odds do not come into play on every hand at the poker table.  Being able to read your opponents as well as the situation is equally essential.  However, when faced with situations where you are unsure as to whether or not you should call a bet, it is vital to understand pot odds.  You first calculate the odds of hitting your hand.  For example if you are on a flush draw you know that you are about a 3:1 underdog to hit a flush on the turn (you will miss three out of 4 times).  You can figure out your odds for any given situation by calculating your “outs” and using the table below to convert to a percentage.  Being a 3:1 underdog also means that you will hit your draw about 25% of the time. Therefore, you can use that knowledge to know if you should call a bet.  For example if the pot size is 40 dollars and you are considering a call of 20 dollars with your flush draw, you should say I have 11 outs (the remaining cards you’re suit) and will only hit about 25% of the time, but a call of 20 dollars will be 20/60, or 33% of the pot size. Therefore you are losing more money than you will win in the long run.  If the amount of your call was less than 25% of the pot, your call is merited.  That is how knowing pot odds can positively effect you’re play and improve you’re bankroll management.

Implied ODDS

Implied odds, as mentioned in a few of the articles, are basically the asterisk next to pot odds.  What implied odds look at is the chance of winning later on in the hand.  Therefore, they give a logical look at the situation and tell you if you are better or worse than the pot odds tell you.  Instead of pot odds, which is the ration between the pot size and the amount you must call, implied odds is the ration between the amount you expect to win and the amount you must call to remain in the hand.  This is an important difference, especially when considering hands like low pocket pairs.  You are a 7:1 underdog to hit a set on the flop, so pot odds would require nearly the whole table to be in the hand to merit a call.  However, low pocket pairs should focus on implied odds, because if set is made on the flop, it is tough for opponents to recognize and will thus result in a larger amount of money won.  Therefore, it is justified in making what would seem a loose call before the flop because the implied winnings if you hit a set are huge.

Calculating Outs

Calculating outs is a relatively simple process that enables you to figure out your chance of “making” a certain hand.  Below is a cart where you can calculate your odds for any situation.  Fore example, if you have pocket 8s and you are up against pocket Kings, you have 3 outs (the 3 remaining 8s) to win.  If you have an open ended straight draw on the flop (6,7,8,9) then you have 8 outs (the four remaining 5s and the four remaining 10s).  After you figure out your outs then use the chart below to learn your chance of hitting on the turn, river, or both combined.