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Pot odds are a simple and extremely useful concept. Being able to quickly calculate your pot odds will give you the edge and help you make those tough decisions. Once you know the pot odds, you can compare them to your actual chance of winning. If the pot odds are better (higher) than your winning chance, then you'll make money by calling. If the pot odds are worse (lower) than your winning chances, then you're not being paid enough to take the risk, and you should fold.

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You Hold Ah, As and the board is Ac, Jc, 8c, 4c

The pot right now is $150. You have $50 left in your stack, and you face two opponents, one of whom has $200 left, while the other has $100. The player with $200 moves all-in, and the other calls. What should you do?

The first point to highlight is that since you have only $50 left, the situation is the same as if the first player to act bet $50 and the second called. The pot is now $250 and it cost you $50 to call. The extra money that was bet, above what you had, will go into a side pot that will not affect you. So the main pot is offering you 250-to-50, or 5-to-1 pot odds. You need to now decide if your winning chances are better than 5-to-1!

With four clubs on board, the first player's bet practically announces that he has a club on in his hand, and very possibly a high club. (If he doesn't have a club, and he's facing two opponents, he won't bet because there's too good a chance that he's beaten, and will be called.) The second player's call implies that he has a club also. Who has the higher club? You don't know and it's not your problem. Right now you're probably facing two flushes, and all you have is a set of aces.

But all is not lost. No matter how many flushes you're facing, you can still win by making four of a kind or a full house, and a number of cards can come on the river that will do exactly that. You could draw any of the three remaining fours, eights, jacks, and the lone remaining ace. That's a total of ten cards to give you a winning hand, out of the 46 cards in the deck you have not seen yet.

So the deck has 10 winning cards and 36 losing cards, making you 36-to-10 against drawing a winning hand. That's 3.6-to-1 against, which is much less than 5-to-1 odds you're being offered by the pot. So you should call. You're an underdog to win, but you're being paid enough, when you win, to want to play.

You are actually doing better than this calculation would indicate. None of the cards you want to complete your hand are clubs, because the clubs of all those ranks are already out on the board. You believe that your opponents hand contain as least 2 clubs, which are cards you don't want. So there are only 34 useless cards unaccounted for and still 10 good ones. Your actual odds against hitting are 34-to-10 against, or 3.4-to-1. If you noticed this face, pat yourself on the head. You have the kind of attention to detail that will make you a really good poker player.

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