Mathematics of Poker: Odds and Outs
by Sammy
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Introduction
In this article- The cards that are helpful to you (outs).
- Balancing risk and reward
- Not every out is actually helpful
A draw is a hand that isn't made yet, but would be if another helpful card came into the community. You might have four spades and require the missing 5th spade for a flush. This card is called the out card, needed for your draw to turn into a made hand.
You will often find yourself holding a draw after the flop or the turn and facing a raise.
The question is: is it profitable to call?
This is where the outs, odds and pot odds come into play. They constitute the mathematical basis used to answer this question, and are the subject of this article.
- Outs
An out is any card that would make your hand better. - Odds
The odds are the probability that one of your outs will show up in the community. - Pot odds
The pot odds provide a ratio between the amount you can win and the amount you have to wager to stay in the hand. They also provide a risk vs reward ratio. By comparing the pot odds to the odds, you can determine whether or not it is profitable to continue playing a drawing hand.
Attention: This article is available in multiple versions, customised for each given poker style and format. If you want to read the odds and outs article for the short stack strategy you can find it through this link: Mathematics of poker - Odds and Outs for the Short Stack Strategy.
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