Re: What is the relation between pot odds and probability here?
Ok, if we were to define "pot probability", it would be the ratio of the amount you need to call to the pot you will win=pot now + amount you call. "Pot probability" is then the fraction you must win to make this a break even bet.
PP=bet/(pot+bet)
I used to do this, but odds seem to work a little bit better.
Craig
For example, suppose the BB is all-in, and it is folded to you in the SB. PP=(1/2)/2=1/4, so you should play any hand that wins at least 25% of the time against a random hand. For holdem, this is all hands (32o has 32.3% pot equity). Now that I think about it, fractional pot equity is the term that we are looking for: the fraction of the pot that you will win in the long run.
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