Basic poker tips: Pot Odds
Yesterday I discussed the concept of Expected Value and how it is an important factor in making poker strategies, especially those that are non-psychological in nature. A friend of mine who read yesterday’s post was quite grateful. He said that he would frequently hear various terms and concepts when he talks with other seasoned casino gamblers but he never really paid attention, thinking that it was not really as important as pure skill. He now realizes that he really should learn these terms.
Today I am going to continue my discussions about poker concepts, terms and basic strategies with a discussion of Pot Odds. Whenever a casino or online gambler bets his main aim is to win all of the money in the pot. But how often must one win in order to make this profitable or even be able to break even. This is what pot odds are all about. Basically you are paying a fraction in order to win a larger amount of money. If the odds are strong that you are more likely to win than you have to pay, then the bet or call that you have made is a winning move in the long term.
Exerting the effort to understand the concept of pot odds is an important knowledge to have because it is quite vital in playing winning poker. The game of poker, most especially limit poker, is all about taking a more or less small edge and then repeating it over and over again without relenting and then earning money. Making these plays that do not pay off in the long run will instead turn that profit into a loss.