Hold Em Authority - Texas Hold Em Strategy and advice for all levels of players

We just got done learning about pot odds, and now it’s on to something a little more complicated, but along the same line of pot odds. Implied odds are factoring in to pot odds the extra amount of chips you expect to win later in the hand.
There is a great example on PokerSavvy of implied odds that shows math isn’t as important as it is in pot odds.

These odds rely a bit more upon feel, but again, the math isn’t as complex, because most of the time, the answer will be pretty obvious, as you can see from the PokerSavvy example. Now, on to another example.
Here’s my example. Using the example from pot odds but adjusting the numbers a little bit, assume that your opponent bets 500 into you instead of 100. Since there is 500 in the pot (1000 now that your opponent has bet 500), and you only have a 20.45% chance of hitting your nut flush, pot odds (500/(1000+500)) 33% are not dictating a call. However, you figure that since your opponent bet so aggressively on the turn, he/she will not lay down his hand for anything on the river, and will end up with all his/her chips in the middle. If your opponent has as little as 1000 chips left, implied odds show that it is right to call, because the odds have gone from (500/(1000+500)) 33% to (500/(1000+1000+500)) 20%.

Our final part in the odds series will touch on effective odds. Effective odds aren’t as vital as the others, but can be an (dare I say it) effective tool when thinking about your odds with two cards to come.

This article comes in the form of a quiz, and I’m going to give you 5 multiple choice questions relating to which hand is favored over the other. Let’s begin.

1. Overcards vs Pair

Who is favored here?

A. AK

B. 22

2. Pair vs Overpair

What percentage of the time does QQ win a hand against 88?

A. 60

B. 70

C. 80

D. 90

3. Shared Card

How often does AJ win against A8?

A. 60%

B. 70%

C. 80%

D. 90%

4. High Card

A8 Will win what percentage of the time against KJ?

A. 50%

B. 60%

C. 70%

D. 80%

5. High Card - Suited

KJs will win what percentage of the time?

A. 45%

B. 55%

C. 65%

D. 75%

Answers B C B B A

The reason I put 4 and 5 in there is to show you that being “suited” doesn’t make your hand that much better. It’s a very simple trap that a lot of people find themselves in. Don’t think suited is the greatest thing in the world, it’s not!!

TwoDimes has a simple hand calculator, and I suggest that you play around with it for a little while and see the percentages that are associated with different situations.

On to part 3, where I’ll be discussing pot odds, a vital piece in the hold ‘em puzzle.

The time has finally come to end this odds series, and I’ll do so with effective odds.

I like this definition of effective odds, but you may have to read it a couple times in order to understand it. Personally, I think this applies more to a limit game than a no limit game, but that’s just me.

So, to wrap this odds series up: odds can be a very effective weapon that can assist you in many tough decisions. Odds aren’t the only deciding factor, however. Nothing can be substituted for repitition and knowledge of the game, and if you feel in your gut someone is holding something that you have beat, then by all means, throw those odds out the window and go with your instinct. Good luck at the tables!

If you want to go back to any of the previous 4 articles in the series, the links are right here for you!

Implied Odds

Pot Odds

Quiz

Outs

Alright, it’s what you’ve all been waiting for: the mother of all odds……POT ODDS. Please, take your excitement down a notch and focus here, this is complex stuff, and I require your undivided attention.

First off, how bout a definition? Pot odds is the ratio of the amount of money in the pot to the amount of money it will cost you to call a bet. I want you to reread that definition and let it sink in a little bit. Pot odds is the ratio of the amount of money in the pot to the amount of money it will cost you to call a bet.

A great site for understanding pot odds can be found here. I think that turning these odds into a percentage rather than a ratio makes things easier for me, so maybe you could try that as well. Really work on this example and understand it. I’ll give you another example right now.

Someone bets 100 into a 500 pot on the turn, meaning one more card is left to come. Should you call with the nut flush draw?
Here’s the solution: You would be calling 100 to win 600 more, so according to the equation, the percentage needed to justify the call is 14.3%, or 100/(100+600). Since we have 9 outs with 44 cards left in the deck, our percentage of hitting this flush is 20.45%. Our chance of winning the hand is much greater than our pot odds, so a call in this case will be profitable in the long run.

What’s next? Implied Odds. I didn’t call this a series for nothing; don’t put those calculators away just yet.