There are many different kinds of odds in poker. There are the odds of hitting certain hands, and then there are the odds of hitting the hand you are drawing for after the flop compared to the size of the bet you are thinking of calling. The latter of the 2 is pot odds and if you can understand it, it makes alot of decisions alot easier at the poker table.
Some people look at pot odds as just the ratio of the pot to the size of the bet you are calling. I look at it as the size of the pot to the size of the bet you are calling to the odds of hitting your draw. If you have flopped the nuts obviously you are gonna call any bet that is put in the pot.
For instance, you are at a 10 handed table, so 20 out of 52 cards are dealt out to the table, leaving 32 cards. You are dealt A-6 clubs, and 3 people including yourself see the flop. The flop comes up Kc-9s-4c and the first better bets $4 and the other hand calls as well, so now it is in to you. lets say the blinds are 1-2 and there was one raise before the flop that everyone called. There would be $12 in the pot, plus his 4, and the other players 4, so the bet ratio is 1:5.
With a bet and a call of four though, you have to figure one of them has a K, but you do have an over card.
Now, odds are that one in every four cards will be a club...you have 2 though, the board has 2, and if one in every four is a club you might assume that 5 were dealt to the table, and you had 2 of em. That would make you assume
that 6 clubs are in the deck. YOu might also assume there is a couple of aces left in the deck seeing as how only half the cards have been dealt. 28 cards are left now since the flop is up, so you have an honest potential of hitting 8 out of 28 cards so your odds would be 8:28 or 2:7 which means that your odds of hitting your hand are better than the size of the bet you are calling.
Now if the bet was $6, and the other guy folded....your bet odds would only be 1:3 so it might not be a good bet seeing the guy did raise before the flop, so maybe he hit a set. If the odds of making your hand are better than the size of bet you are calling...I will always call.
This is more for a larger pot though, if you are just trying to steal blinds the odds really don't matter too much.
This is my opinion on pot odds buddy, I hope it didn't confuse you at all.
Remember though, a good ablility to read a player if you have a hand out weighs everything. I like to play a game where I will try to guess a players hole cards...you would be amazed by paying attention to betting patterns and body language how good you can get at it.
if you have a 20% chance of hitting your hand, the ratio would be 1:5. Being a dog or not depends alot on what you have in your hand or what is up on the board. That you have to assess at the time of the hand. It is all about feel man.
Yeah, raptorsfan understands what im asking. Sorry to be so confusing. I was confused in thinking that my odds of making the hand and my status as a favorite or underdog were the same, but they are different.