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Yes you're correct in saying in both cases you have less then 50%, but because you're drawing to that twice, and you need to only hit it once.
Simplest example would be a coin flip. I get two flips of a coin, and I have to hit Tails once to win.
Each flip is independent of the other, each is a 50% chance.
Looking at the possibly out comes though, it can either be,
Heads + Heads (I loose)
Heads + Tails (I win)
Tails + Heads (I win)
Tails + Tails (I win)
We see its a 50% chance on each flip, but because I have multiple shots, and I only need to hit it once to win, I actually have a 75% chance of winning.
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Well, just when I thought we had the subject settled, I ran across a poker odds chart online:
web page
It gives the odds for outs with one card to come after the flop, one card to come after the turn, and two cards to come after the flop.
Then, at the bottom is the following note:
"Remember! You should work out the odds only for the next card to come each time. Only use the third column [two cards to come] when your opponent is ALL IN."