Pot odds, explained simply.
Every time someone bets, the pot offers you a price. Pot odds tell you how often you need to win for calling to pay off. Learn one formula and you'll never again guess whether a call is good.
The price of a call
- Pot odds compare what you pay with what you can win. If calling costs a little and the pot is big, you don't need to win often. If calling costs a lot, you need to win a lot.
- The formula: equity you need = your call ÷ the pot after you call. The pot after you call is the pot before the bet, plus the bet, plus your call.
- Equity is how often your hand wins (your share of the pot over many replays). If your equity is higher than the equity you need, calling makes money in the long run. If it's lower, fold, unless you'll win more later (see implied odds below).
A worked example
You call 50 to win a pot of 200 (100 + their 50 + your 50). 50 ÷ 200 = 25%. Players also say you're getting 3.0 : 1: the 150 already in the middle against your 50. Win more than one time in four and the call is profitable.
Pot odds chart: bet size → equity you need
| Bet | Price | You need |
|---|---|---|
| Quarter pot | 5.0 : 1 | 16.7% |
| Third of the pot | 4.0 : 1 | 20.0% |
| Half pot | 3.0 : 1 | 25.0% |
| Two-thirds pot | 2.5 : 1 | 28.6% |
| Three-quarters pot | 2.3 : 1 | 30.0% |
| Pot-size bet | 2.0 : 1 | 33.3% |
| 1.5× pot (overbet) | 1.7 : 1 | 37.5% |
| 2× pot (overbet) | 1.5 : 1 | 40.0% |
The bigger the bet compared with the pot, the more often you need to win. A half-pot bet asks for 25%, a pot-size bet 33%, and even a huge overbet never asks for more than 50%.
Putting it together
- Work out the price, using the chart above.
- Estimate your equity. With a draw, count your outs and use the rule of 2 and 4. A flush draw on the flop is about 35% to hit by the river.
- Compare. Facing a half-pot bet with a flush draw: 35% against the 25% you need, so it's a call (or a raise). Facing a 2× pot overbet, you'd need 40%: fold, unless you expect to win a lot more when you hit.
Implied odds: when the price is short
Pot odds only count the money in the pot now. Implied odds add what you expect to win later when you hit. That's why small pairs can call raises before the flop: they rarely hit a set, but when they do, they can win a big pot. Implied odds only work when there's plenty of money left behind (a deep stack) and your opponent will pay you off. Short stacks mean no implied odds. The glossary has the details.