This is the last of the fundamental concepts you need to have a good understanding of before delving into strategy.
On day 5 Collin will help you calculate pot odds and will explain expected value.
If you have not yet read Day 5 and watched the video for Day 5 - take a few minutes now to do that and then come back here to discuss it:
Understanding Pot Odds and Expected Value
How did you do on the quiz? Hopefully now you have a better understanding of these 2 concepts - but if you have questions you are in the right place to ask them! Collin and Katie will be checking this thread to answer them and discuss these topics further with you.
Pot odds
How much do we need to earn for our call to be profitable. We must know the equity of the hand and know the pot odds to know if the call is profitable. If the player bets 100% of the pot I have to win 33% of the times to my call be profitable. If it bets 50% of the pot I have to win 25% of the times.
How to calculate pot odds: The rule 4-2:
“
The 4-2 Rule is a way to turn the number of drawing outs you have into your odds of hitting them. It's times 4 on the flop to hit on the turn or river, and times 2 on the turn to hit your draw on the river.”
If I have 10 outs from the flop to the turn the probability will be around 20% sometimes. I go all in with a flush draw on the flop, usually 9 outs and it will hit the turn and river 9 x 4 = 36% equity for the river. On the turn x 2 On the Flop x 4
How to calculate pot odds:
CALL VALUE / (CALL VALUE + POT + BET) = POT ODDS Calling: Call value / (Call value + Pot + Bet)
150% - 37.5% (150% the value of the pot)
100% - 33% (100% the value of the pot)
75% - 30%
50% - 25%
33% - 20%
Attacking: Bet / (Bet + Pot) Fold Frequency 150% - 66%
100% - 50%
75% - 43%
50% - 33%
33% - 25%
Percentage of times we have to steal a pot for our bet be profitable:
When we are attacking and bet the pot size, what percentage of times villain has to fold to our bet be profitable? Considering that EVERY TIME he calls I'm losing the hand. Fold frequency: Bet / (Bet + pot) Let's say I'm
bluffing the river and I bet 100 blinds into a 100 blinds pot? How many percent does villain have to fold for our bet to be profitable?
Bet = 100 Bet = 100 Pot = 100 * 100 / 200 =50% (100 * 100 = 10000 / 200 = 50)
I have to steal the pot 50% of the times to be profitable.
A real out and a false out:
A real out is when we are absolutely sure that that out will give us the best hand QsJs, flop KhTs3d if it hits an Ad or if it hits a 9c I have the nuts. However, if you hit a 9h or an Ah we won't always have the best hand, as we could be losing to a flush.
Implied odds:
Question of real outs and false outs. Many times we hit our outs the chance of losing an even bigger pot is when you get reverse implied pot odds. Example KcQc on the BTN, the MP raised and the BTN called. And sB, who is a weak player, made a small squeeze. MP paid and BTN has very good pot odds to be looking for a very strong hand. Pot odds of 20% here. This hand's equity against opponents' range is not 20% equity the chance of the SB having an AA, QQ, KK is very big.
Implied Pot Odds:
How much will I win when I hit and how much will I lose when I lose the pot Would call with any hand, any suited hand he was calling, if he had an off suited connector would not be good for BTN to call the MWP squeeze with sB and MP. Calling almost exclusively for the flush draw. The flop comes TcJd5h and the SB bets the pot. and BTN has pot odds of 33% and has 15 outs. We have 30% equity, and SB villain has a 150BB stack. Implicit pot odds means that the times we hit our combo there are more chips/blinds to be won considering the stack size of the SB villain. It has only 8 outs and the possibility of a back door flush draw. Will hit the turn 18% of the times.
When BTN hits this 18% he will win a lot of chips against a weak player. Before, BTN was paying $18 dollars to chase a pot of 150 Now he is paying $ 52 to get the maximum of $ 96 that villain SB has behind him. In this case, it's a pretty easy fold, unless villain had another $ 200 behind it In the aforementioned case, a 6h hits and the villain bets $ 52 in a pot of $ 55.