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.
Read more about this topic: Pot Odds
Famous quotes containing the words pot, odds, determine and/or expected:
“Steam was till the other day the devil which we dreaded. Every pot made by any human potter or brazier had a hole in its cover, to let off the enemy, lest he should lift pot and roof and carry the house away.”
—Ralph Waldo Emerson (1803–1882)
“Macbeth. What is the night?
Lady Macbeth. Almost at odds with morning, which is which.”
—William Shakespeare (1564–1616)
“As our disorderly, competitive technological society is piling up its victims and constantly developing new problems of maladjustment, we must use our scientific knowledge to determine the cause and prevention of suffering rather than putting all our emphasis on its alleviation ...”
—Agnes E. Meyer (1887–1970)
“Accidents will occur in the best-regulated families; and in families not regulated by that pervading influence which sanctifies while it enhances ... in short, by the influence of Woman, in the lofty character of Wife, they may be expected with confidence, and must be borne with philosophy.”
—Charles Dickens (1812–1870)