[Buzz]

Shattered -

You write, "For example if the odds are 4 to 1 I know the probability can be got by adding them for the denominator and the 1 is the num so 1/5 chance of success."

That is correct, but usually one would first calculate the probability of making a hand and then convert that probability to odds of making a hand. The main reason, as I see it, to convert the probability of making a hand to odds, is to make a comparison between the pot odds and the odds of making a hand. When the pot odds are greater than the odds of making a hand, you have favorable odds to call a bet. Although there may be such a thing as "pot probability," I've never heard of it. (A second reason to convert probability to odds is that many people seem to be more familiar with the term "odds" than the term "probability.")

"My problem is when I use this same logic for pot odds. Let's say there is $40 in the pot and $10 to call. I believe this is correct to say 40:10, or 4 to 1 pot odds."

Yes.

"I'm having a problem however because this doesn't seem analagous to the prior example as I'm uncomfortable making a fraction out of this 1/5 or a percentage 20%."

Seems there is no particular reason to go in this direction. I suppose you could, but it would seem oblique to most people.

"Then, saying the pot odds are 4:1 as above, how do I use this information to determine my break-even percentage of how often I must make hand or win the pot to break even. I know it's 1/5 but, again not sure how they get this."

Out of every five times, you figure to lose $10 four of those five times. That's a total loss of $40.

Out of every five times, you figure to win $40 one of those five times. That's a total win of $40.

Over five times, you figure to win as much as you lose, a "break even" situation.

In reality, with odds of four to one, you generally have to do something many more than five times, like hundreds or even millions of times to see the true four to one calculated odds reflected accurately. It would be like taking five cards, A, 2, 3, 4, and 5, shuffling the five cards, then picking a card at random, then repeating this process, over and over again. The probability of drawing a particular card is 0.20, (making the odds four to one against), but you may select the same card more than once and not select another card at all the first five times you draw.

Hope this helps.

Buzz