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ok, so what are the specific differences between pot equity and pot odds?

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Pot odds come into play when deciding whether or not to call. If the bet to you is $20 and there is $100 in the pot, pot odds dictate whether your hand is an overlay. If your hand has a better than 5 to 1 shot winning, you should call because the bet would have a positive expected value.

Pot equity comes into play when you decide whether or not to bet, as no odds have been set. There is just a pot up for grabs. The lower your pot equity (chance of winning), the less reason you have to chase the pot with a bet (unless you decide to bluff).

When you bet with low pot equity, you, as the underdog, are sweetening the pot for your opponent who is the favorite.


I'm basically paraphrasing from "Theory of Poker."