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:
“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)
“However great a man’s fear of life, suicide remains the courageous act, the clear- headed act of a mathematician. The suicide has judged by the laws of chance—so many odds against one that to live will be more miserable than to die. His sense of mathematics is greater than his sense of survival.”
—Graham Greene (1904–1991)
“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)
“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)