[Miggo]

I'm going to throw this in here too, since I had problems with ratios and it was easier for me, and faster to use percentages.

Say you and the same four people are in the pot. You have a nut flush draw which you figure would be the best hand if you get your suit, with the river card to come. The same $3 is in the pot, $1 for you to call. For the sake of argument, you have a 20% chance to get your nut flush, but it is costing you 33% of the pot for that 20% chance, that is pot odds. So you should fold.

However lets say that you know that if you hit your flush, that there will be at least 2 more bets in the pot, either people raising or calling your bets. So you are implying that your $1 call before the river will win you at least a $6 pot. Now you're still only 20% to hit your nut flush, but your $1 is only $1/$6 or about 17% of the implied pot, so you should call. That is implied odds.

I'm not exactly sure if I used the right terminology, but I think the principle is correct. Please correct me if I'm wrong and we'll both learn something.