Question about win odds/pot odds

So.. I'm not completely sure on how to view 2:1 3:1 4:1 and so on for pot odds but. I suppose it means that you need to win 1 in those many times to come out break even. My question is this I guess. If I have win odds of 33% and pot odds of 3:1 Should I basically be multiplying 3x.33=99%? Another hand I just had while posting this question was 20% win odds and 4:1 pot odds.. That would be 80%? So calling is actually unprofitable? If anyone has some insight to this, I'd be very appreciative thanks!

Think about a dice which has 6 numbers if you had to pick a number the odds are 5/1 5 to 1 against which means in the long run out of 6 times - 5 times you will be wrong and once you will get it right to get the percentage its just the amount of opportunities you have or the probability which is actually 6 (5/1 5+1)

Divide 100 by the probability to get the percentage - 100/6 =16.666%

With cards if you are 2/1 you only have to win once not twice to break even

3 opportunities once you will hit and twice you will miss so if you bet $1 on each it would cost you $3 and if you win once you win $2 plus your stake back
.
So you invest $3 and get $3 back if you hit once on a 2/1

My question is this I guess. If I have win odds of 33% and pot odds of 3:1 Should I basically be multiplying 3x.33=99%? Another hand I just had while posting this question was 20% win odds and 4:1 pot odds.. That would be 80%?


33.3333% is actually 2/1 100/33.333 = 3

I think you are getting confused with odds and probability
2/1 odds is the same as 1 in 3 probability percentage = 100/probability

The second part you got right 20% is 4/1 odds or 1 in 5 probability
4/1 against once you will win 20% and 4 times you will lose 80%

Hi WShanor;

Let's suppose that the pot odds is X:1 ( The pot is not X dollars, and you have to call 1 dollar )
The formula that you can use to take a decision on calling or not is this :

Win odds * (x+1 ) > 1 : the call is a profitable action, other way that will be unprofitable.

In your example the pot odds is 3:1, that means 33% *(3+1) =132% > 1 ====> profitable action.

The pot adds reflect the ratio of the pot for one dollar that you put now, that means , example : the pot now is 10 $, you have to put 2$ , so the pot odds is 10:2 or 5:1, but to calculate the profability of the action we have to take the size off the pots after the call not before , let's say here the win odds is 19% , then the global ratio will be 19%*(5+1 )=114% .

I hope it's clear for you .

Lots of detail in here thanks. Guess I will just say this quick. I'm using a tournament indicator and it's calculating two things. my win odds which is where I was getting the percent from, and pot odds. It wasn't just one thing I was looking at. So when it says 20% win odds that's one thing and it could say 16:1 pot odds depending on how someone bets into the pot. Guess I was just wondering how I can use those two things together to come out ahead. Gonna re read your post later.. multitabling 4 tournies atm. x.x

WShanor said:

Lots of detail in here thanks. Guess I will just say this quick. I'm using a tournament indicator and it's calculating two things. my win odds which is where I was getting the percent from, and pot odds. It wasn't just one thing I was looking at. So when it says 20% win odds that's one thing and it could say 16:1 pot odds depending on how someone bets into the pot. Guess I was just wondering how I can use those two things together to come out ahead. Gonna re read your post later.. multitabling 4 tournies atm. x.x

Click to expand...

Good Luck

Further reading http://en.wikipedia.org/wiki/Pot_odds

Chart of the bottom https://www.cardschat.com/odds-for-dummies.php

zarzar78 said:

Hi WShanor;

Let's suppose that the pot odds is X:1 ( The pot is not X dollars, and you have to call 1 dollar )
The formula that you can use to take a decision on calling or not is this :

Win odds * (x+1 ) > 1 : the call is a profitable action, other way that will be unprofitable.

In your example the pot odds is 3:1, that means 33% *(3+1) =132% > 1 ====> profitable action.

The pot adds reflect the ratio of the pot for one dollar that you put now, that means , example : the pot now is 10 $, you have to put 2$ , so the pot odds is 10:2 or 5:1, but to calculate the profability of the action we have to take the size off the pots after the call not before , let's say here the win odds is 19% , then the global ratio will be 19%*(5+1 )=114% .

I hope it's clear for you .

Click to expand...

This is really starting to help me get a better understanding of it, thanks! I really love how you did the whole win odds times pots odds > 1 thing, that really helps me visualize how this is working though my question with this post is. Where is the + 1 coming from? Like you posted "(3+1) and (5+1) what is the 1?

From seeing this, I suppose win odds times pot odds, as long as it's 101%>1 it's always profitable? Though I figure you'd want it to be higher then 101% if you can help it.