Poker: Pot Odds and Equity

 Poker: Pot Odds & Equity


Overview


This instructable will explain the concepts pot odds and equity, as well as the many ways they can be used to improve your poker skills. These concepts are used to get insight into a given hand using information such pot size and number outs. This book is designed for beginners to intermediate players who already know basic poker terminology, such as raises, calls, actions, outs and so on. I recommend that you become more comfortable with the terms and any other basic poker concepts before learning more advanced concepts, such as equity and pot odds.


Materials


This abstract concept is not difficult to grasp. A deck of cards may help you visualise the various gameplay options. A pencil or paper can also be helpful for the initial math.



Step 1: Getting Started

Background Information


You need to calculate your equity and pot odds in poker in order to make statistically sound decisions. This won't give you a picture of your opponent's hand, nor will it tell you if they will win the hand. However, it will give you statistical information that will help you make the best decision. Because poker is a complicated game, it is crucial to get as much information possible. You may have to decide whether or not to call an opponent's raise. Pot odds, equity and other factors can all be used together to help you make a great estimate of what you should do.


What are Pot Odds and How Do They Work?


The first concept, pot odds, simply represents the ratio between the current pot's money and the money you need to make a call. The pot odds, which is simplified to 1000:500, are calculated if the pot has $1000 and you pay $500 to make a call. Your odds of winning would be 1500/500 if $1000 was used instead.


How to Calculate Pot Odds


Usually, pot odds are expressed as ratios. But I believe that the overall concepts of equity as well as pot odds are more easily understood if they both are expressed in percentages. This is because percentages are easier for one to compare to another than fractions. Simply take the share number (the number at the right), and divide it by both the sum of these numbers. To give you 33% odds of winning, let's say your pot odds are 2:1. The percentage would then be 1 divided 2+1, or 1/3. How to understand Poker Odds


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