Outs and Odds Applied to Poker
There have been a few hands I’ve been in or witnessed recently that have looked to me total suckouts or terrible calls, when in fact the money was almost exactly right for chance of winning.
Here’s an example:
I had been bullying a tight pokern player all tournament. Whenever he opened a pot for a raise, I reraised him, in position. If he called and led out for a bet on the flop, I would raise him again. If he checked I would bet. You wouldn’t believe the hands he showed me that he was folding. Anyhow, in the middle stages of the tournament, at 100/200 blinds, he opened for 600 and I looked down at AcQh and raised him to 1500 (starting the hand with about 7400). He called. The flop came As, Jc,10c. He checked, I bet 3,000 and then he moved all in over the top of me. Now, If I wanted to start over from scratch with a small stack, this is an easy fold. I have top pair, 2nd kicker, and a gut shot straight draw, even a back door flush draw if you want look at it optimistically. But, there is virtually no way I’m winning right now. All of his possible hands that he’d raise and call a reraise with are AA, KK, QQ, JJ, 10s, AK, AQ, AJ, A10. I can only beat KK here, I tie AQ, and everything else has me toasted. But, I did the math. Preflop we had a pot of 3300, with the blinds and our 1500 apiece. I the turn I bet 3000 and he went all in. If we take his call of my 3000, that a pot of 9300, to which he put me all in for another 2900. So, it will cost me my remaining 2900 to try and win a pot of 12,200, that is 4.2-1 pot odds. If I am a 4-1 dog, I can call this bet justly; even though I probably won’t win, I’d be getting pair appropriately if I did.
For the math’s sake, let’s reveal that my poker opponent had AhAd, for 3 aces. I can win with any king, running clubs, or tie if it runners a straight on the board. Typically, counting the 4 kings as outs with two cards to come, I assume I am 17% to win, and maybe I can add a percent for the backdoor flush. Using card player’s poker odds calculator, I am 18.18% to win, he is 80.71% and we have a 1.11% chance at tying. 80.71/18.18 = 4.3. So, I am getting 4.2-1 odds where I need 4.3-1 to make the right call. I called, without doing the intricacies of the math, also knowing that I didn’t want to play from a short stack, and lost. But, it’s nice to know that doing the math can prove that what I did was not ridiculous in the least bit. It was spot on for an even gamble.