how do you know when your "getting good odds"

[Jetto]

Like when you are 3:1 ( 33%) 2:1 ( 50%) 4:1(25%)

How do you guys "know" your getting good odds once you calculate pot odds?

[Bona]

Example: Pot+villains bet totals 6BBs
Odds to hit our nut flush draw are: 9 cards of 46 not seen.
about 4.2:1

We are getting +EV (EV=expected value) odds there and our + expectation would improve the larger the pot is.

If the pot + villains bet were 4 BB we would have a - EV for pot odds. Other factors not considered.

[7n7]

[ QUOTE ]
Like when you are 3:1 ( 33%) 2:1 ( 50%) 4:1(25%)

How do you guys "know" your getting good odds once you calculate pot odds?

[/ QUOTE ]

Well, actually, you're incorrect in your math right out of the gate. I'd suggest reading Getting the Best of It by David Sklansky. There's a great section in there on calculating odds and its nomenclature. Then read Theory of Poker, again by Sklansky. You won't regret it.

What I mean by your math is wrong, is the following:

3:1 is not 33% (it's 25%)
2:1 is not 50% (it's 33%)
4:1 is not 25% (it's 20%)

You read odds this way:

3:1 reads the same as saying, "3 to 1 against". It's the exact same thing as saying, "You'll lose 3 times and win once" which is also the same as saying, "You'll win 1 out of 4 times".

Winning 1 time out of 4 possible tries is 25%. 1 is 25% of 4.

Make sense? Do it for the others and make sure you come up with the right answers.

Once you have that straight, when playing poker if the odds the pot is giving you is greater than the odds to make your hand, it's a good bet and you call.

E.g. The pot has $25 in it and it's $5 for you to call. 25/5 is 5:1. If the odds that your draw will come in is say, 4:1, it's a good call. If the odds that your draw will come in is 10:1, it's a bad call.

Read the books I suggested. Then re-read them.

[Small Fry]

Well Jetto, I hate to break it to you this way but the first thing you need to do is understand the relationship between odds and percent.

3:1 is 25%, 2:1 is 33% and 4:1 is 20%. Odds are the parts of the whole expressed against each other. Percent is the ratio of your expectation to the total. So lets say you try something 4 times and win once. The odds are expressed as 3:1 (3 losses: 1 win) while the percent is 25 (1/4).

As for knowing if we're getting good odds we compare pots odds to the odds of making your hand. At the most basic level if the pot is laying us better odds then the odds of making your hand then you're getting good odds. Say the pot is 4 and your opponent bets 1. You're getting 5:1 on your call. Now if the odds of you making your hand on the next card are better than 5:1, like 4:1 or 3:1, then you can call. If the odds that you'll make your hand are worse, like 8:1, then you should probably fold.

Hope that helps.

Pat

[Jetto]

oh ok thanks guys.

however what if your 1:3( if its possible) will it then be 33% since if you divide you pot odds like...

"Total pot/ amt asked to call"= to 1.

then I calculate the BEP...

i got this from PHIL GORDON and I have double checked it with this board and it was correct.

that is how I calculate POT ODDS.


now I was wondering how do you know you were getting good odds..and I guess i should read ToP more but you guys sordof got it cleared up for me. thx.

[7n7]

[ QUOTE ]
oh ok thanks guys.

however what if your 1:3( if its possible) will it then be 33% since if you divide you pot odds like...

"Total pot/ amt asked to call"= to 1.

then I calculate the BEP...

i got this from PHIL GORDON and I have double checked it with this board and it was correct.

that is how I calculate POT ODDS.


now I was wondering how do you know you were getting good odds..and I guess i should read ToP more but you guys sordof got it cleared up for me. thx.

[/ QUOTE ]

Odds are always expressed (well, at least they should be) as x:y, where x is the number of times you lose on average, y is the number of times you win on average.

1:3 means you'll lose once and win 3 times on average if you played the hand 4 times. Instead of being a 25% dog (the case where it's 3:1), you're now favored to win 75% of the time. You win 3 out of 4 times. 3/4 = 75%. The math doesn't change, just in this case you win more times than you lose, therefore the percentages are swapped.

BEP works like this:

Your opponent bets $10, making the total pot size, $50, so it's $10 for you to stay in. You're getting $50 (the current size of the pot) : $10 (the amount you have to call). $50:$10 = 5:1.

What BEP (break-even % ) means is that you need a draw that's at least 5:1 in order to break even in the long run.

Pick up Getting the Best of it and Theory of Poker.

[Wotsmycode]

[ QUOTE ]
Like when you are 3:1 ( 33%) 2:1 ( 50%) 4:1(25%)

How do you guys "know" your getting good odds once you calculate pot odds?

[/ QUOTE ]


http://www.texasholdem-poker.com/odd...amp;decimals=2

I hope im not breaking 2+2rules. Just pm me if the link is deleted!

[Poker Plan]

[ QUOTE ]
now I was wondering how do you know you were getting good odds..

[/ QUOTE ]

You need to compare the two ratios. The first being the "risk V reward" (pot odds). And the second being the Win V Lose (Outs V Non-Outs).

If the two ratios are exactly the same- you will break-even over the long term. So you need "better" odds than break-even, to make a profit.

[Neku]

It's generally better to think of the pot odds as # SB:1 (number of small bets:1) and #BB:1.

For instance, if you're at a ,5$/1$ limit cash game, and there's three players in (an unraised) pot, one of them being the SB who filled up.

There will be 1,5 $ in the pot, but you can say that there's 3 SB in the pot.

If you're first to act, the pot gives you 3:1. If you're second to act and the first player bet, you're getting 4:1. If you're third, 5:1. See?

Next, you will have to learn the number of outs you need to bet or call in this situation. For you to call 5:1 pot odds, you will need 8 outs at least. For 6:1, only 7. For 7:1, 6 outs. There are lists about this, and by playing enough hands, you will eventually know immediately if the pot is giving you good odds to continue.