Using Pot Odds To Determine Expected Value
When a player holds a drawing hand, or a hand that is behind now but is likely to win if a certain card is drawn, pot odds are used to determine the expected value of that hand when the player is faced with a bet.
The expected value of a call is determined by comparing the pot odds to the odds of drawing a card that wins the pot. When the odds of drawing a card that wins the pot are numerically higher than the pot odds, the call has a positive expectation; on average, you win a portion of the pot that is greater than the cost of the call. Conversely, if the odds of drawing a winning card are numerically lower than the pot odds, the call has a negative expectation, and you can expect to win less money on average than it costs to call the bet.
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Famous quotes containing the words pot, odds, determine and/or expected:
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in a blind man’s hand,
Mothers,
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and they’re jealous of me!
The cobra’s hood
has come out of its tail.”
—Hla Stavhana (c. 50 A.D.)
“Macbeth. What is the night?
Lady Macbeth. Almost at odds with morning, which is which.”
—William Shakespeare (1564–1616)
“It is not time or opportunity that is to determine intimacy;Mit is disposition alone. Seven years would be insufficient to make some people acquainted with each other, and seven days are more than enough for others.”
—Jane Austen (1775–1817)
“There were ghosts that returned to earth to hear his phrases,
As he sat there reading, aloud, the great blue tabulae.
They were those from the wilderness of stars that had expected more.
There were those that returned to hear him read from the poem of life,
Of the pans above the stove, the pots on the table, the tulips among them.
They were those that would have wept to step barefoot into reality....”
—Wallace Stevens (1879–1955)