Understanding Implied Odds

Understanding pot odds and the chances that you have of making your hand on the draw is a basic skill in poker. Most players have a good idea about how to calculate probability, or use a piece of poker software to do it for them – then use this information to help them decide whether or not to enter a pot.

Implied Odds extends the Pots Odds calculation a little further, giving an indication of the amount of money you could see in the pot at showdown, and applying that to the pot odds chance of winning your hand.

When you calculate implied odds, you take into consideration the additional chips you could get from your opponent(s) if your hand were to hit, and their willingness to put more money into the pot after your initial bet.

For example: – You have a pre-flop mid pair against your opponents AA. Your pot odds of getting trips are 20.7% (about 1 in 5, or 4/1) so, if your opponent were to raise by $20, it would appear that you are mad to go with him because you are taking Evens on a 4/1 chance. However, if you were to hit trips on the flop (which will happen about one in nine times), you are likely to win considerably more than a further $20. Say, if your opponent was to go all-in after the flop with his stack of $100, this means that your $20 call will win you $120 ($20 pre-flop + $100 post flop) plus the blinds – so you will have now got odds of 6/1 on your 4/1 chance.

The more money you can take from your opponents´ stacks, the better the odds become. Had there been a third player involved in the above scenario, the pot you would have won for calling with your $20 bet is now $240, and you have got implied odds of 12/1 on pot odds of 4/1 – excellent value if you are prepared to take the risk and your stack, and those of your opponents, will allow you to generate that level of winnings.

Reverse implied odds is the exact opposite of implied odds and reflects the odds of losing a certain amount of chips when you make your call. In the example above, the reverse implied odds for the player with pockets aces are high, because he will more than likely stay in the hand no matter what comes. The mid pair offers low reverse implied odds, because if your set does not come up on the flop, you will probably fold.

Understanding pot odds, implied odds and reverse implied odds is a handy skill to acquire. As with every other tool, it has to be used in relation to other factors influencing the play on the poker tables. However, the better stocked your toolbox, the more efficiently you can get the job done.

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