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:
“Only one thing is certain: if pot is legalized, it won’t be for our benefit but for the authorities’. To have it legalized will also be to lose control of it.”
—Germaine Greer (b. 1939)
“It makes no odds where a man goes or stays, if he is only about his business.”
—Henry David Thoreau (1817–1862)
“There will always be in society certain persons who are mercuries of its approbation, and whose glance will at any time determine for the curious their standing in the world. These are the chamberlains of the lesser gods. Accept their coldness as an omen of grace with the loftier deities, and allow them all their privilege.”
—Ralph Waldo Emerson (1803–1882)
“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)