Jonathon Little pot odds question
Working out the pot odds and then pot odds radio and then how much equity is required to continue, I have worked it out to be 23% required to continue
Pot odds = bet/pot
Pot odds ratio = bet + pot/ bet
Pot odds equity to continue = risk/ risk + reward to work out 23%
Where did I go wrong?
2 Replies
Pot "will be" 33.5
For whatever reason he chose a situation in which someone is betting 13.8bb into a pot of 5.9bb and also does not state that information.
You calculated 13.8/(13.8+13.8+33.5) = 13.8/61.1 = 0.225859
Pot odds is normally defined as Reward to Risk, where reward is the amount you win (excluding your last investment) and risk is your last investment.
Example: Pot is 100. Villain bets 50. Reward = 100+50 = 150. Your investment (call amount) = 50.
Pot Odds = 150/50 = 3 to 1. You can show the equity you need for +EV is 1/(1+ Pot Odds) or 1/4 = 25% for this example.
Another way to determine required equity is what I call the Fair Chance Equity rule: if hero calls the 50 bet, the total pot is 100 + 50 + 50 =200. Of that he contributed with his 50 call, 25% of the total pot of 200 so he should be rewarded 25% of the total pot with a call (previous hero bets on the current round are now win amounts).
Little used what I consider to be an incorrect definition of pot odds, namely call/total pot. That is an equity calculation not an odds calculation, He gets the right answer using a "sloppy" definition but I see that definition used pretty often these days.
