Poker Math · 4

Implied Odds

Pot odds + expected future winnings. Why drawing hands can be profitable even without immediate price.

Formula

Effective Odds ≈ (Pot + Future Bets You'll Win) / Call Amount

Explanation

Pure pot odds ignore that you might win more chips on later streets. Implied odds factor in those future bets. With deep stacks against loose opponents, draws that look unprofitable by pot odds alone can be +EV — when you hit, you'll often get paid.

Example

Setup

Set draw: you have 22, flop is K-7-3. Need to flop a 2 (only 2 outs, ~4% on turn). Opponent bets 50 into a 100 pot. Stacks are deep ($1000 behind).

Calculation

Pot odds: 50 / 200 = 25% required. Your draw is only 4%.
Pure pot odds say FOLD.
But: if you hit your set, opponent with TPTK might pay another $200-300.
Effective odds: (200 + 250) / 50 = 9-to-1, you only need ~10% equity.

Conclusion

Deep stacks + a hand that pays off when you hit = call profitably. This is why set-mining small pairs works.

Practice

When are implied odds the WEAKEST?