Pot Odds

Quick facts by PokerStrategy

• Pot odds are the ratio between the total size of the pot and the cost of calling a bet.
• Pot odds can be calculated and then compared to equity when weighing up a call.
• They are particularly useful when facing a bet with a drawing hand or a potential bluff on the river.
• It’s important to take into account all factors, not just pot odds, when making your decisions in poker.

What Are Pot Odds in Poker?

Pot odds in poker refer to the ratio between the total size of the pot and the amount that it costs to call a bet. Pot odds can be used to determine whether a call is profitable based on your chances of winning the hand, whether you are sitting at a live table or playing on online poker platforms.

You can think about pot odds as a measure of risk-reward. It’s a particularly useful concept when it comes to deciding whether to call with draws, such as a flush or straight draw, or for calling bluffs on the river.

Here we explain how to calculate pot odds and how to use them in poker.

How Poker Odds Work

By comparing the total size of the pot with the amount that it costs to call, pot odds in poker provide a mathematical way of figuring out whether or not a call is profitable in the long term.

To know whether a call is profitable, you need the other part of the puzzle, which is to compare the pot odds with your chances of winning the hand, known as your equity in the pot.

In the case of calling with draws, your equity can be calculated based on the number of outs that you can hit that will complete your draw. You can then compare this to your pot odds to see if the price is right.

How to Calculate Pot Odds

Pot odds are a key tool for making sound decisions in poker. Below, you will discover two easy ways to express pot odds: as a simple ratio and as a percentage you can directly compare to your hand’s equity.

Calculating Pot Odds as a Ratio

The easiest way to calculate pot odds is as a ratio.

To do this, divide the Total Pot by the Bet Size. For clarity, Total Pot is the amount in the pot after a bet has been made.

Pot odds = Total Pot: Bet Size

For example, if the pot is $100 before the bet and you are faced with a bet of $100, the Total Pot is $200, and the Bet Size is $100.

In this example, our pot odds are:

$200:$100 = 200:100
Simplified to 2:1 pot odds

Calculating Pot Odds as a Percentage

When it comes to using pot odds in poker, you’ll often find it useful to convert the ratio into a percentage. This will allow you to directly compare your pot odds with your equity in the hand.

To convert your pot odds into a percentage, add the two numbers of the ratio together and then divide 100 by the total, like so:

X:Y X + Y = Z
100/Z = pot odds %

So, running with our 2:1 pot odds example from above, here’s the formula:

2:1
2 + 1 = 3
100/3 = 33.3%

Using Pot Odds to Improve Your Poker Game

You can use pot odds to make well-informed, mathematical decisions when it comes to making calls. If your equity in the hand is higher than the pot odds, you can profitably call.

If your equity in the hand is lower than the pot odds, you can’t profitably call. Unless there is justification to do otherwise, the pot odds suggest that you should fold.

Running with the example above, if you’re facing a bet that lays you 2:1 pot odds, you’ll need to win the pot more than one-third of the time to make the call. Or, as a percentage, you’ll need more than 33.3% equity against your opponent’s range.

Rule of 4 and 2 to Calculate Outs in Poker

To find out your equity in a hand when you have draws, you can use a simple method called the Rule of 4 and 2. This method helps you estimate your equity based on your outs.

Start by counting the number of outs. Then, multiply this number by 4 if you’re facing a flop bet or 2 if you’re facing a turn bet:

Equity on flop = number of outs x 4
Equity on turn = number of outs x 2

This is not a completely accurate formula. It also assumes that you will always win the pot at showdown when you hit your draw and always lose the pot at showdown when you miss.

Pot Odds for Flush Draw

If you have a flush draw and need to hit one card of a particular suit to complete your draw, you have 9 outs (13 cards of that suit in the deck, with four already in your hand or on the board, leaving a possible 9 outs).

Using the Rule of 4 and 2, multiply your outs according to the street of betting. If you’re facing a flop bet, then your rough equity is 9 x 4 = 36%. So, if the pot odds are less than 36%, you can profitably call the bet.

If facing the same size bet on the turn, your rough equity would be 9 x 2 = 18%. In this case, you would have nowhere near the right price to call given the pot odds.

Pot Odds for Straight Draw

An up-and-down straight draw has 8 outs; four cards at the top end and four cards at the bottom end. Using the Rule of 4 and 2, you have around 32% equity (8 x 4) on the flop and need pot odds of less than 32% to profitably call.

With a gutshot straight draw, you only have 4 outs, which gives you around 16% equity. This is rarely enough to call a bet. A backdoor straight draw has even less equity at a meagre 4%.

Some of the softest poker sites make it easier to apply these concepts and learn as you go. The competition tends to be looser, making it easier to test and refine your decision-making with pot odds.

Pot Odds When Facing River Bets

You can also use pot odds when facing the river bet. In this case, your equity depends on how often your opponent is bluffing.

On the river, it’s usually better to check to showdown with a medium strength hand, so your opponent’s range will often be polarized when they bet. Either they have a very strong hand that beats you, or they are bluffing to avoid losing at showdown with a weak hand.

Assuming your hand beats all of your opponents' bluffs and loses to all of their value hands, you can use pot odds to decide whether to make the call.

Here’s how to use pot odds on the river:

Your opponent makes a pot-sized bet of $100 into a $100 pot, laying you 2:1 pot odds, or 33.3%. If they are bluffing more than 33.3% of the time, you can profitably make the call.

Pot Odds Cheat Sheet

Here’s a cheat sheet for determining the equity required based on the bet size and pot odds.

These are the most common bet sizes that you’ll face:

Pot Odds and Expected Value

Expected value refers to the amount you can expect to win or lose in the long run by making a particular move. It takes into account pot odds, equity, and other concepts such as fold equity and implied odds.

Expected value is a complex calculation that aims to account for all the factors and scenarios that can occur in a poker hand, assigning probabilities and chip or cash values to each outcome to see if a play is profitable.

In simple terms:

• If your equity is greater than the pot odds, the call has positive expected value (+EV).
• If your equity is lower, it’s a negative EV (-EV) play.

By consistently making +EV decisions, you’ll improve your win rate and long-term results at the table.

Pot Odds Limitations and Considerations

Once you get the hang of it, it’s not too difficult to use pot odds when it comes to drawing hands or calling river bets. However, there are major limitations if you focus only on pot odds and neglect other factors that could influence how +/-EV a particular spot is:

• Implied odds: Implied odds are the theoretical amount that you are likely to win if your hand improves. If you complete your flush on the turn, for example, you may be able to win your opponent’s entire stack by the river. This can influence decisions, allowing you to call with slightly worse pot odds than your equity alone implies.
• Reverse implied odds: On the opposite end of the spectrum, your weaker draws could have reverse implied odds. If you hit a weak draw, for example, there’s a chance an opponent could hit a higher hand and take all of your chips. This can sometimes give you a reason to fold a hand even if you have the right pot odds to call.
• Fold equity: Fold equity is the amount you can gain by forcing your opponent to fold. You only have fold equity when you take an aggressive action, such as betting or raising. Very often, drawing hands won’t have the right equity to call bets. Even backdoor draws, though, can become profitable semi-bluffs when you account for the fold equity gained by raising.
• Other factors: When playing a poker hand, consider all relevant factors. This includes position, stack sizes, player tendencies, and other relevant factors. For example, it might be more profitable to call against a loose cannon with deep stacks because they are more likely to pay you off when you hit (good implied odds). Or, you may have position over a tight player, giving you a chance to raise your draw as a bluff (gain fold equity).

Don’t think about pot odds in a vacuum. Use them as one factor when making your decisions in poker.

Frequently Asked Questions

What are good pot odds in poker?

Good pot odds in poker are those that give you a favourable price when compared to your chances of winning the hand, usually by completing your draw.

What are pot odds vs implied odds?

Pot odds are a measure of risk-reward when it comes to calling bets. Implied odds is a totally different, but sometimes interrelated concept, referring to the amount you stand to win on future streets if your hand hits.

What are the odds of a 4 to 1 pot?

A 4 to 1 pot, or 4:1 pot odds, means you will need to win the pot at least once in every five times to make the call. In other words, you will need 20% equity in hand to make the call.