Pot Odds

The relationship between pot odds and odds of winning is ONE OF THE MOST IMPORTANT concepts in poker strategy. Pot odds are the ratio of the size of the pot to the size of the bet required to stay in the pot. For example, if a player must call a $10 bet for a chance to win a $40 pot(NOT including his $10 call), his pot odds are 4-to-1 (20% probability). To have a positive expectation, a player's odds of winning must be better than his pot odds. If the player's odds of winning are also 4-to-1, and if he plays the pot five times, his expected return is to break even (losing 4 times and winning once). So, if you happen to be "chasing", you should only be calling if your odds of winning are better than the pot odds you are facing. This will make you much more $$$ in the long run.