Implied odds

I was looking at the Implied Odds page on here and theres an odd I don't know how the writer came to it.

''A good example of when implied odds in poker come into play is when you limp in with a small or medium pair before the flop in hold 'em. Your chance of hitting a set (which is typically the only way a small or medium pair will win) is around 7.5-1, which means that pot needs to have 6 or 7 other limpers to make it worthwhile.''

How do you get to 7.5-1?

That odds are of hitting a set in the flop with a pair in your hole cards. To calculate that you can do it this way:

- Probability of NOT hitting a set in the flop.

P1 = (48/50)*(47/49)*(46/48) = 0,8824489795918367

I'll explain this:
The deck has 52 cards, you know only 2 of them.
The probability of the 1st card in the flop to hit your set is 2/50
Next card 2/49
Next 2/48
Those events are not independent so you cant add them, instead, you have to do it the way i've done.

- Probability of Hitting the set:

P2 = 1 - P1 = 0,1175510204081633 = 11.755%

- Now, to change % into odds you can use this:

Odds = (100-%)/%

So Odds: (100-11.755)/11.755 = 7.5

So odds: 7.5/1

actually you really don't need 6 or 7 limpers that'd be absurd.. implied odds is the amount of money you can expect to win if you hit ur hand it includes future bets

There's a general rule that you can call the blinds or a raise if the maximum amount of chips you can win is at least 15-20 times the cost of calling, but i think this might only apply to tourneys.

Just my opinion, but set-mining in cash games seems much more profitable than in tourneys. in cash games, I can play a hand with no thought as to the short-term results. ie., winning or losing the current hand. so implied odds in cash games mean so much more. plus, I like to play deep stack poker. in tourneys, no one is deep stacked, at least not after the first few levels. I tre to buy-in for at least 100bb.

Example:

1-2nl game $300 max buy-in (150bb)
I have 66 in the cutoff. villain raises 3bb from middle position. 2 folds. I call with my small pair, blinds fold. I risked 4% of my stack to call, with huge implied odds if I hit.

Example 2: $300 buy-in tourney
Halfway through rthe tourney, blinds are 100-200. my stack is 4000. (20bb)
I have 66 in the cutoff. villain raises 3bb from middle position. 2 folds. I now decide if I want to risk my tourney on pocket 6's. Note how I'm not thinking implied odds, or set-mining, or anything like that. this is about immediate odds of winning the hand, combined with some amount of fold equity.
I will admit I positivly suck at online tourneys. though not live, as it seems I can read live opponents pretty well.
So the bottom line is: Save your implied odds set-mining for deep stack cash games. And watch out. I'm planning in cracking your aces with 35os.

Post needs more love. I love a good bit of statistics

But yeah OP you rarely get the immediate odds to call to set mine but when you call you know there is a good chance the pot will be built on the flop when you hit (usually through a c-bet).
The odds you need vary from player to player. A loose player is less likely to pay you off because he has a wide range so implied odds are lower and immediate odds need to be higher to compensate. On the contrary, if you know a player is only playing AA and will stack off on any flop, you can call a big portion of your stack (up to about 12%) pre flop as when you hit you'll get paid off 100% of the time.
In reality peoples ranges are wider than AA which is why the "5/10" rule is created.
If the bet is 5% or less of your stack and you have a PP you should call because set mining will be profitable. If the raise is between 5% and 10% of your stack you should call depending on how tight (and therefore likely to stack off post flop) villian is.