re: Poker & correct formula for pot odds.
If you want to work with percentages, like Phil Gordon does, you need to include your bet into the pot. Otherwise, it would be wrong to do so.
% basically means "this was multiplied by 100", e.g.
8 outs = 8 x 2 = 16% (rule of 2)
16% = ----- = ------
If you want to convert percentages to odds, it would be wrong to say 8 outs means you've got odds of 6,25 to 1. You have to substract 1, e.g.
It is, however, counterproductive to use Gordon's rule of 2 and 4, and convert the percentages to odds. You just want to make sure, in this example, your bet does not exceed 16% of the pot (including your bet).