[sucka]

This is a very good explanation from BruceZ.

I once thought that using %'s at the table was better than using the odds - but with a few 'on the fly' calculations its actually more effective and easier to use.

Let's say I know that there's 6 SB's in the pot, and it's my turn to act (call a single bet) so I know that the pot is laying 6-1 for me.

I look down at my hand and see that, on the flop, I have an open ended straight draw giving me 8 good outs.

I use this formula: 50-(# of outs) / (# of outs) = odds to make my hand by the river

50-8 = 42/8 = 5.25 to 1

Notice, that this is the odds required to make my hand by the river.

I've got 6 BB's in the pot and I'm a 5.25 to 1 dog so I'm getting correct pot odds to call in this situation.