Pot Odds and Implied Pot Odds

Pot Odds and Implied Pot Odds In the previous article, we discussed odds and probabilities in general terms. Now, it is time to start learning to use odds to our advantage. Both pot odds, and implied pot odds are used when you believe that you do not currently have the best hand, but you think that you can improve to the best hand. They are 1 part of the answer when you ask the question "should I bet, call, raise or fold?". Pot Odds The term "Pot odds" refers to the odds you are currently getting from the pot. For instance, if there is currently $5 in the pot, and it will cost you $1 to stay in, you are getting 5:1 odds for your $1 call. Another way of stating this is that the pot is laying you 5:1. There are several important concepts to understand about pot odds. First, once you have put money into the pot, by making, or calling a bet, that money belongs to the pot. It is irrelevant where the money in the pot came from. There are only two things that are important. The size of the pot, and the odds you are getting from the pot. Next, understand that pot odds only consider the money that is currently in the pot. The money in the pot is made up of the money from bets on previous betting rounds, and bets on the current betting round. For instance, before the flop, 3 players, including you, and the small blind call, and the big blind checks, putting $5 total in the pot. After the flop, the small blind bets $1, the big blind and the next player each call. Now, it is your turn to decide. There is $5 in the pot from before the flop, a $1 bet from the small blind, a $1 call from the big blind and a $1 call from the next player. There is a total of $8 in the pot, and it will cost you $1 to call, so you are getting 8:1. In the same example, assume that instead of calling, the player before you raises $1. There would now be $9 in the pot. However, because of the raise it will cost you $2 to call instead of $1. Your pot odds in this case are 9:2 or 4.5:1. Pot odds, and implied odds for that matter, are usually calculated, and discussed in terms of small bets and big bets instead of dollars. This makes it easier to generalize the calculations. It does not matter if you are playing in a $.05/$.10 game or a $5/$10 game. The bets before the flop, and on the flop, are small bets, while the bets on the turn and river are big bets. If 3 people have called before the flop, there are 3 small bets in the pot. Note that the small blind is typically a portion of a small bet, such as