HOW TO USE IMPLIED ODDS IN POKER

More often than not, players will frequently misapply implied odds for trying to determine whether or not they can make a flush draw, and they will just be concerned about making more money from a game.

However, implied odds will take into account an extra bet or futures bet that are made. As such, it is a vital component of a game, especially if a player wishes to bet their entire stack.

As far as poker strategy goes, implied odds is an advanced tool that can be used to see whether a player can win more on future streets, perhaps if their opponent folds.

In many ways, implied odds is an imperfect art, and players need to be aware of draw odds before any given round for a big blind.

Implied odds for simplicity’s sake, will help a poker player determine his or her ranges, and this in turn, can bolster their win rate in the long term.

In the following section, we will explore in more detail the definition implied odds, what are good implied odds, and how to make the best play in the later streets.

DEFINITION OF IMPLIED ODDS IN POKER

Implied odds refer to the amount of money you can expect to make in a late position on the board when you hit on one of your outs.

If you play and expect to take money from your opponent after you have made a draw, then you will have what is considered good implied odds.

However, if you don’t anticipate that you will make money from a future bet after either the turn or in a post flop stage, then there will naturally be worse implied odds attached.

Just as with pot odds, which we will discuss later in this guide, implied odds will help you play more effectively in the latter stages of poker games, in terms of knowing when to make the call or whether to fold if you see your opponent calling.

IMPLIED ODDS – HOW DOES IT WORK?

To thrust implied odds into the action, this is best applied when assessing the options of making a flush draw.

So, for example, in a $1/$2 cash poker game, you may have a strong hand, such as King of Hearts and Queen of Hearts on the turn.

Separately, the board post flop might have Ace of Hearts, 6 of Diamonds, 2 of Spades, and 9 of Hearts. At this point, you may have the net flush draw, and your opponent decides to put $15 into a $20 pot.

The three variables at play will be the equity or fold equity, the size of the pot after your opponent raises, and how much you have to call.

A quick pot odds calculation will be as follows:

$15 to call/$15 bet + $20 pot + $15 call = 0.3, which works out as 30% equity in terms of card odds to make a profit from your bet and scoop up what is in the big pot.

There are a few factors at play when it comes to implied odds, especially if you make a donk bet (bad wager) at the river once the draw comes in.

The beauty of No Limit Hold’Em games, is that you can influence the size of bets, and try and hit more often on the outs to produce the desired results.

In the next section, we will delve a little deeper and explain how you can calculate implied odds, which in turn, will influence your poker strategy.

HOW TO CALCULATE IMPLIED ODDS IN POKER?

The most important thing that many players fail to grasp, is that implied odds are as they sound — you can use them to get a better idea of achieving a made hand in poker, but from a mathematical perspective, such odds don’t really exist.

That said, the odds available will be useful for many players in terms of establishing what your opponent can take from the game with any bets he or she has contributed.

A good example of this might be in a big blind where a preflop raiser calls while you are out of position, and the player who decides to make the call does so with a Jack of Diamonds and 7 of Diamonds.

You may have made a continuation bet (c bet) against an opponent in the pot. Come the turn, the board may have revealed a King of Hearts, Ten of Diamonds, 3 of Spades, and a 2 of Hearts, and now you will have to face a $50 bet into a $67 poker pot from your opponent who is hovering around the dealer button.

In the next section, we will look at how to establish the correct pot odds for a poker game.

IMPLIED ODDS CALCULATION EXAMPLE

If we are to use the previous example where you make a continuation bet in a big pot, then you will have to divide the bet size by what is in the pot which will provide a certain percentage as shown below:

$50/$167 = 0.3 or 30% equity would be required if you made a check raise or went all in if you made a bet on the flop.

The equity here would mean that the odds will be in your favour in terms of combating what your opponent does if they have a decent barreled range.

You can use the formula that we described earlier to work out how much more money you can make in the future streets, such as the river:

50/50 + 50 + 67 + X = 0.2

50/167 + X = 0.2

50 = 0.2 167 + 0.2 * X

50 = 33.4 + 0.2 * X

0.2 * X = 16.6

X = 16.6/0.2

X = $83

So, from the implied odds formula, you would be required to win $83 from the button once you hit. Come the river, the pot size will be set at $167, so with your betting, you would have to extract half pot bets to break even.

POKER IMPLIED ODDS IN PRACTICE

Now, you have a clearer idea of what you need to do to meet the odds when you hit betting on the flop, we have provided a few more examples to show you how implied odds work in reality.

EXAMPLE 1

Implied odds aren’t only used when facing bets with draws. They’re important when you are betting and trying to gain money from the pot. Here, you might be playing at a $1/$2 table, and you pick up pocket sizes in the late position. In a bid to make their drawing hand, you might see an opponent pay $10 to increase the pot size.

You may question whether to call here to improve the implied odds. The initial raiser will have shown their hand, and they will be in an apparent position of strength. As such, the extra callers will bolster your pot odds.

With this particular hand, the best outcome would be if your opponent has a top pair, and you can make a set against the flop. If you can make a set to complete a hand, more often than not, an opponent is more likely to have a weak hand.

Implied odds will bolster your chances of saying making a full house if you are brave in the flop.

EXAMPLE 2

In another $1/$2 No Limit game, you might be holding a solid hand after you hit a top pair — Jack and 10 of Spades, and then you called against your opponent with your bet.

While the current call might seem slightly strange, you felt at this point that you had the upper hand as you were in position, and so the draw odds would tilt in your favour.

But then after the flop comes in — 8 of Hearts, 9s, and the King of Clubs — the raiser makes a $30 bet, and the other pre floppers prefer to fold so as not to lose too much money from the pot.

So, here if you decide to call at the right price, you could well make money on future rounds if you disguise your hand well, and use the odds to your advantage.

If you can hit a straight, then there is a strong chance you will take money from your opponent left in the pot.

EXAMPLE 3

Another simple way to estimate the implied odds in poker, is to use the ratio method. You can assess the ratio of your current pot odds, and given your equity, you can work out what ratio you would need to have, so as not to lose.

If you were involved in a huge pot worth $150 after your opponent bets $50 into $100 on the turn, this will give you 3/1 odds of making the call.

You will have a 10% chance of winning the pot, and this translates to pot odds of 9/1 to make seamless progress.

To work out what you stand to win, you subtract 6 from 9 (the pot odds) and multiply the $50 bet by 6, so if you make the draw, you could win a total of $300.

WHAT IS THE DIFFERENCE BETWEEN IMPLIED ODDS AND POT ODDS?

To understand how implied odds work, you need to have an idea of how pot odds affect poker. Essentially, implied odds provide an added layer to pot odds, although remember, you are making a bit of a guess as to whether you can make a successful draw with a future action on the board based on the cards that you are holding at the time. The pot odds will give you a greater idea of whether you can make a solid draw and win on a later street.

You can therefore use implied odds to give you an idea of how much you stand to win after a straight draw, but that said, it is not based on concrete mathematics. As such, you will need to be good at keeping track of cards and keep a close eye on the pattern of play in terms of what your opponent is doing to ascertain whether you win a round or lose.

If you have good implied odds, then you will be able to make correct calls with pot odds. But if you have little implied odds for making a straight draw, then you should stick to the pot odds if you want to improve your chances of claiming a win.

HOW DO FUTURE BETTING ROUNDS HELP TO CREATE BETTER IMPLIED ODDS?

Implied odds are important for future betting rounds, because they will determine whether you can make a strong draw against your opponent.

Ranges and position are fundamental aspects of poker, especially in the late position, especially if you fear that your opponent is in the same situation as you, and is deliberating whether to fold or make a call.

Ultimately, it depends on the texture of the board, but if you play your cards right, you could have better implied odds for the late rounds.

CONCLUSION

If you want to make money quickly and win more often, then implied odds will be a reliable tool, and we have tried to address the key points in this guide.

However, implied odds alone won’t be the difference maker, you also need to factor in the pot odds if you want to maximise your poker experience. Some casinos will have a free calculator where you can practise and make your real time calculations much sharper.