I like this post, but suggest that there isn't really a big issue here. When we talk about their odds vs our odds, its all part of the larger issue ... what is the chance that an actual person in an actual pot will win (not just improve, but actually win).

If we raise and they still choose to chase their draw, they are betting below pot odds ... which means they have negative equity ... which means some of that equity is likely going to us (assuming we should be in the pot at all).

So .. i suggest that talking about them having bad pot odds is simply another way of us talking about them betting with -EV. Anything we can do to get them to bet when they shouldn't is good for us.