The formula
extra needed = bet / equity − (pot + bet) − bet
The pot after your call is pot + 2 × bet. To break even you need to win, on average, bet / equity in total. Whatever is missing must come from later streets.
Worked example
Turn, pot $100, opponent bets $60, you have an open-ended straight draw (8 outs, 17.4%).
- Pot odds now: 160 : 60 = 2.67 : 1, required equity 27.3%.
- Break-even total win: 60 / 0.174 = $345.
- Already in the pot after your call: $220.
- Extra needed: about $125 on the river when you hit.
If the opponent has $125 or more behind and will pay a river bet often enough, calling is fine. If they are nearly all-in, fold.
Rules of thumb
- Hidden draws (sets, gutshots) get paid more often than obvious ones (flush cards).
- Against short stacks implied odds barely exist; use plain pot odds.
- Multiway pots raise implied odds because more players can pay you off.
- Facing a small bet on the flop with two cards to come, implied odds usually justify calling with 8 or more outs.
Frequently asked questions
What are implied odds?
Pot odds adjusted for the money you expect to win after you hit your draw. If the pot is small but the opponent will pay off a big bet when you complete a flush, your effective odds are better than the current pot suggests.
When are implied odds high?
When the opponent has a deep stack, plays straightforwardly and is likely to hold a strong but second-best hand, and when your draw is hidden (a gutshot or a set draw) rather than obvious (a four-flush board).
What are reverse implied odds?
The opposite: situations where you will lose more money when you make your hand but it is second best, for example a small flush against a bigger one. Discount your implied odds in those spots.