Re: Confusion on using odds to justify a call with 2 cards to come.
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Or better yet... should I just completely ignore the odds for something happening within the next 2 cards and just focus on the pot odds. vs odds against me for the next card to come?
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In general, if you are deciding whether to call a bet, then yes, look only at the next card. In your example, you are only getting 5.3-1 on a 11-1 gutshot, so you would not even call the flop bet. However, if it were heads-up and you were getting 12-1, you would call the flop, even though you know you won't bet getting the correct 11-1 on the turn.
If you are deciding whether to raise a draw for value (flush draw, OESD), then you can look at the odds of hitting within the next 2 cards. (Notice that in this situation, you've already looked at the odds of hitting by the next card and determined that you have favorable pot odds to continue).
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