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:
“Would I were in an alehouse in London. I would give all my
fame for a pot of ale, and safety.”
—William Shakespeare (1564–1616)
“A man can seldom—very, very, seldom—fight a winning fight against his training; the odds are too heavy.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“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)
“What is a country without rabbits and partridges? They are among the most simple and indigenous animal products; ancient and venerable families known to antiquity as to modern times; of the very hue and substance of Nature, nearest allied to leaves and to the ground,—and to one another; it is either winged or it is legged. It is hardly as if you had seen a wild creature when a rabbit or a partridge bursts away, only a natural one, as much to be expected as rustling leaves.”
—Henry David Thoreau (1817–1862)