The basics of Poker odds should be pretty easy to grasp. Essentially, when you make a bet – it could be in a casino, it could be on a horse – you will be offered odds on what you stand to win if that bet is successful, these odds will be expressed as, for instance, five to one (or 5:1) and basically mean that if you win you’ll be paid five times what you would have had to pay if you’d lost. In the above example that would mean a winning bet of £10 would pay £50.
By using poker hand odds savvy players can work out whether or not they should continue to play a hand by working out the probability of success in any given situation. Of course there are elements of luck in poker but by considering percentages and probability good players who can put the odds in their favour should ultimately come out on top.
Simply put, working out your odds during a game of poker helps to determine your likelihood of making a profit. Lets say for instance that there’s £9 in the pot and it’s your turn to play, you’ll need to work out how many “out” cards (unseen cards that could help you win) there are. For the moment you can’t assume anything about what cards any of your opponents might hold so any cards that you can’t see (any card not in your hand or the flop) count as a potential outs.
Once you’ve worked out the number of potential outs there are (look at your cards – if you’ve got a pair of kings then the remaining two kings are outs, If, including the flop, you have 4 hearts then there are 9 remaining hearts that would make a flush, that’s 9 more outs) you need to work out how many unseen cards there are; given that in this scenario there are three cards in the flop and you have two cards, that leave 47 cards – 3+2=5 subtracted from 52 cards. So, if you’ve got 11 possible outs and 36 cards left that won’t help you this gives you odds of roughly 3.3:1.
Thus if the bet is £1 a good bet would need to reward you with at least £3.30 (3.3 times your £1), given that there is £9 in our hypothetical pot (odds of 9:1) the odds suggest that a call or raise is the way to go!
There’s much more to learn about Poker odds if you’re interested, the above example illustrates the basic principle and hopefully shows that odds can be an important addition to the successful poker player’s tactics.