Simple Pot Odds Question

[Skip Brutale]

If I'm getting 2-1 pot odds and have a 36% chance at winning the hand, this is negative EV right. How do you determine based upon the percentage you have of winning the hand, what pot odds you must have? I know it's simple, but I forgot or never learned.

[Cobra]

The formula is

1/p-1 or in this example 1/.36-1 = 2.78-1 = 1.78 to 1 odds

Cobra

[Skip Brutale]

[ QUOTE ]
The formula is

1/p-1 or in this example 1/.36-1 = 2.78-1 = 1.78 to 1 odds

Cobra

[/ QUOTE ]

So I'd need 1.78 pot odds to break even and 2-1 is plus ev?

[Cobra]

Correct

Cobra

[uuDevil]

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If I'm getting 2-1 pot odds and have a 36% chance at winning the hand, this is negative EV right. How do you determine based upon the percentage you have of winning the hand, what pot odds you must have? I know it's simple, but I forgot or never learned.

[/ QUOTE ]
No. It would be +EV to call.

Percentages and odds are different ways of representing the same thing. To make your decision compare odds to odds or percentages to percentages.

So change percentage to odds:

(100-36)/36=1.78, I.E. 1.78:1 against

These are the odds against making your hand. You break even in the long run if you are getting 1.78:1 pot odds. But you are getting MORE than this, so you make money by calling here.

Or change odds to a percentage:

2:1 is 1/(1+2)=1/3=.33 or 33%

You break even in the long run if you have a 33% chance to make your hand. But you have better than a 33% chance. So you make money by calling.

To avoid having to make these conversions, estimate your chances of winning in terms of odds. In many circumstances, this is pretty easy. Example: Playing hold'em, on the flop, you have a small flush draw and think your opponent raised pf with a big pair. You have 9 outs to improve on the next card. 9 cards help you and 38 do not. Those are 38:9 odds, or about 4.2:1 against. You are getting pot odds of 5:1 to call a bet. Do not fold.

Edit: damn. I'm sooo slow. [img]/images/graemlins/frown.gif[/img]