How to Quickly Calculate Pot Odds and Pot Equity in Texas Holdem Poker

Whether you are a beginner or pro at playing poker you will quickly learn the better you are at math and by learning new tricks along the way the better your chances are of winning more often. Having the ability to quickly calculate pot odds and the pot equity can be imperative to how you play out a hand. Many poker players firmly believe that they win or lose by how well they know poker and can read other opponents and while there is some truth to this it’s not makes the pros the best. There are very few hands that you will play that will require no odd calculations such as calling an all in if you obviously have the best hand or if you are playing with someone that you are able to tell when they are bluffing. Other than plays made strictly by a read on another player all poker making decisions are made through some type of evaluation of the odds.

For a player who only plays by their gut and never makes a calculation while at the table is still playing specific odds. They just are not aware of the numbers that makes a decision feel right or wrong. To correctly use the numbers in order to determine the quality of your choices you will need to calculate the pot odds and your equity and then compare the two of them. If the odds are less than your equity you are more than likely losing money versus if your odds are higher than your equity, you will make money.

Regardless of which number you start with including the hand equity or pot odds they are separate numbers from one another and will remain useless until you have evaluated both.

Pot Odds

Counting the pot is imperative to evaluation your odds which can become difficult as the pot grows so keeping track of it as new chips are added is the smartest move. Keeping track of the pot if there are a variety of chip amounts in the stack will be difficult so practice counting and familiarize yourself with the different chip amounts which will make counting in real games easier.
As you will learn when playing poker games that the blinds will vary from one type of poker to another. Let’s go with a $2/$5 game…Player A raises to $15, folded to the next player who calls, and was also called by the player on the button and small blind while the big blind folds.

What would the pot currently be at if each of these players called? Trying to count the current amount in the pot by this point could be a bit confusing so again this is why keeping a total as you go would be the best option. If you start with the first player who raised $15, the next player calls $30, the button calls $45, and the small blind will call $60, while the big blind will fold $65.

Creating a Ratio

In the same scenario that was just described the first player raises to $50. What will the pot odds be for the next player?

You will need to add this bet to the total pot amount which would equal $115. The next player will have to call $50 for a pot of equal to $115. This will allow you to post your first ratio for your calculations. The ratio will be $115-$50. To make things easier to calculate you will make the right side of the ratio a 1.

115-50: Since you will need to turn the right side of the ration into 1 it should be divided by itself at (50/50=1). Always remember anything you do to one side of the ratio should also be done to the other side of the ratio as well. With that being said you will need to divide 115/50 = 2.3 giving you your new ratio which is 2.3-1. This will be considered the ratio for the first person to call the preflop raise.

For future reference a good way to do the calculation quickly inside your head is to take out the largest portion that the divisor goes into with a fraction and divide it by two. You know that 100 divided by 50 is 2 and that 150 divided by 50 is 3. You know that your first number will be 2 and that leaves you with 1 which gives you (115-100).

So think about how many times you can equally divide 15 into 50. The answer is 3 so another way to view it is 15×3 which = 45. Now you may not always get the exact amount that is in the pot but by being as close as possible that will work just as well. Now that we have the total 45 we are as closest to 50 as possible since 60 is farther way. This gives us our second number which is 3. When you place the two numbers together you will get 2.3.

For example if the second player calls. What are the pot odds for the player on the button? You can try to do the calculations in your head before reading the example below. For those who are just learning here is a run through for you;

Pot = One hundred fifteen + fifty ($115+$50)
Total Pot = One hundred sixty five ($165)
Odds = One hundred sixty five/Fifty ($165/$50)
50 x 3 = 150 (The 1st number is 3)
165 minus 150 = 15
50/15 = relatively close to 3
Final Odds = 3.3:1

Once the calculations for the second player was established and he calls the odds butt will be specifically higher by one so 2.3 + 1 = 3.3. There will be no need for you to attempt to recalculate if another player calls because you can simply just add one. You will only need to recalculate if at any time during the hand a player chooses to reraise.

This gives you a better understanding of how the odds work and how to calculate them but where does equity come into play? As stated earlier that calculating the pot odds is only a portion of where you need to be. Once you have calculated your pot odds you will now need to calculate the equity in the pot in order to compare the two and get your ending results. We have discussed how to calculate the pot odds during table play quickly by using simple math and keeping up with the total as the pot grows but now you need to learn and understand the next concept in the piece of the puzzle that is just as important. However, understanding how equity works is much simpler for most people allowing them to catch on much quicker.

Hand Equity

You will need to first count your odds for winning the pot. You will need to calculate the equity for the hand meaning you need to tally up how many outs you have in order to make the hand you are seeking. After just a bit of practice you will catch on and memorizing things will become much easier.

Something to always remember is there are four cards that hold the same value and that there are 13 of each poker suit including spades, diamonds, hearts, and clubs. While most poker players know this by heart beginners have a bit of learning to do before knowing all of the suits and terms.
For example if you are currently in a hand and have what’s known as an open ended straight draw, there will be 2 different values of cards that will give you the hand you need: 2×4 = 8 outs for you. If you are hoping for a flush draw there are 13 cards of each suit. If you are holding two of the 13 and there are currently 2 on the board; 13 – 2 -2 which will give you 9 outs.

Always remember to always remove the outs of the cards that you know and never to count duplicates for example if you are hoping for an open ended straight flush draw that you will have a total of 15 outs. When you count your outs you will need to keep in mind anti-outs and possibly blockers. If once you make your straight your opponent gets the flush they were hoping for those straight cards are not considered outs to your hand and cannot be counted. The possibility of having a flush draw on the table can turn your profitable 8 out straight draw into a 6 out straight draw which will render the odds insufficient.

If for some reason you can not accurately assume the value of the other player’s hands then think the worst which would assume they have the better hand. Play as though their hand may crush yours and be cautious. If there is a straight draw then assume they have exactly that. If there is a flush draw then again assume they are on a draw. If the board is paired assume they have trips or possibly a full house. By keeping this logical thinking it will be less expensive for you in the long run. It’s better to fold a possible winning hand versus making a bad call and losing most of your stack.

Equity Shortcut

The simplest way to get your equity is to memorize the following rules:

On the flop always multiply your outs by 4. If on the turn, make sure to multiply your outs by 2.
This means if you have an open ended straight draw and 8 outs you will then have a 32% chance of getting the straight with 2 cards left to come. For hands on the board that have a higher amount of outs (higher than the earlier shortcut may give an incorrect answer. The following example will give you a more accurate figure for higher odds.

Amount of outs x 4 – Amount of outs – 8 = Your Equity

This would mean that your equity of an open ended straight flush draw (Fifteen outs) would be the following;

15×5 – 15-8 = Gives you 53%
If you were not using this formula your percentage may be higher by 7 points giving a false higher result. If the equity calculations are incorrect you be incapable to make correct decisions.

Putting your Pot Odds & Equity Together

Now that you are able to calculate your odds and know your equity you will have to determine if the call is good or not. The odds as a ratio ended for the second player at 2.3-1 odds and the player after that having the odds of 3.3-1.

You cannot compare water to oil so you will need to convert your equity percentage from a % into a determined ratio. By doing this you will be required to use some of the similar techniques as earlier.

For example 32% is also simply referred to as having 32 out of 100 which would give you 100 – 32 which equals 68. With that being said and the fact that you are looking at the odds you will need your pot odd ratios to be higher than this ratio. If you are currently sitting with a open ended straight draw (2.1-1 or 32%) the odds example from earlier gave the second player the odds of 2.3-1 which means the second players pot odds would be just enough in order for them to make the call.
If you are on the button with the same hand and the player who is now in the same seat that you were previously in your odds will change to 3.3-1. You will only need odds of 2.1-1 in order to earn money so the call will be profitable in the long run.

While the ending result is accurate again it’s only a percentage of the odds spectrum and will want to take other factors into consideration when playing since you have not determined your implied odds.

While playing poker seems just like any other game there are many things to consider and understand in order to profit long term. You have just learned how to quickly determine your pot odds and equity which can change the overall game for you.

Posted by Joel on Mar 29 2011. Filed under Poker Strategy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry