1. The Mathematics of Poker– Implied Pot Odds Strategy: No-Limit

2. What are implied pot odds? ► Implied pot odds ▫Modified pot odds that speculate on another bet from your opponent if you hit your hand. Example: “the “Call20” rule from the SHC ▫If calling before the flop is unprofitable through pot odds alone, it can still be profitable through implied pot odds. ▫In No Limit Hold’em, you usually deal with implied pot odds, because the bets can be very high.

3. What are implied pot odds? – example #1 Hero (BB)$25 MP3$25 CO $25 SB$25 Hero (BB)$25 MP3$25 CO $25 SB$25 Preflop: 5 folds, MP3 calls $0.25, CO calls $0.25, 1 fold, SB calls $0.15, Hero checks. Flop: ($ 1.00) SB bets $0.50, Hero calls $0.50, 2 folds. Flop: Actual Pot Odds:3:1 Required Pot Odds:4:1 Flop: Actual Pot Odds:3:1 Required Pot Odds:4:1 Implied Pot Odds (Flop): For the required pot odds of 4:1, $0.50 are missing in the pot. This must be invested on the turn by an opponent if you hit. The probability of this is high –> call. Implied Pot Odds (Flop): For the required pot odds of 4:1, $0.50 are missing in the pot. This must be invested on the turn by an opponent if you hit. The probability of this is high –> call. Turn: Actual Pot Odds: 2.1:1 Required Pot Odds:4:1 Turn: Actual Pot Odds: 2.1:1 Required Pot Odds:4:1 Turn: ($ 2.00) SB bets $1.75, Hero folds. Implied Pot Odds (Turn): For the required pot odds of 4:1, $3.25 are missing in the pot. Since your play suggests a draw, it is improbable that your opponent will pay on the river if your flush comes–> Fold. Implied Pot Odds (Turn): For the required pot odds of 4:1, $3.25 are missing in the pot. Since your play suggests a draw, it is improbable that your opponent will pay on the river if your flush comes–> Fold.

4. What influences your implied pot odds? ► How loose is your opponent? ▫If your opponent is very loose post-flop, your implied pot odds increase. ▫If your opponent is very loose pre-flop, your implied pot odds decrease. Exception: Maniacs! ► How much strength is your opponent showing? ▫The stronger your opponent’s hand, the more difficult it will be for him to give it up. ► How obvious is your hand? ▫The more obvious your hand, the less your implied pot odds.

5. What influences your implied pot odds? ► Do you have position on your opponent? ▫Your implied odds are better in position than out of position. ► Are you on the flop or turn? ▫You usually have more implied pot odds on the flop, because there are still two betting rounds after this. ► How big are the stacks involved in the hand? ▫The more money that is there, the more you can win.

6. What are implied pot odds? – Example #2 Hero (CO)$25 UTG2$25 Hero (CO)$25 UTG2$25 Preflop: 1 fold, UTG2 calls $0.25, 4 folds, Hero raises $1.25, 3 folds, UTG2 calls $1. Flop: ($ 2.85) UTG2 checks, Hero bets $2, UTG2 raises $6, Hero calls $4. Flop: Actual Pot Odds:2.7:1 Required Pot Odds:4:1 Flop: Actual Pot Odds:2.7:1 Required Pot Odds:4:1 Implied Pot Odds (Flop): For the required pot odds of 4:1, $5.5 is missing in the pot. Since a check raise shows a lot of strength, it can be assumed that your opponent will still invest money –> Call. Implied Pot Odds (Flop): For the required pot odds of 4:1, $5.5 is missing in the pot. Since a check raise shows a lot of strength, it can be assumed that your opponent will still invest money –> Call. Turn: Actual Pot Odds:2.8:1 Required Pot Odds: between 4:1 & 5:1 Turn: Actual Pot Odds:2.8:1 Required Pot Odds: between 4:1 & 5:1 Turn: ($ 14.85) UTG2 bets $8, Hero folds. Implied Pot Odds (Turn): The pot on the river with a call from you Is $30.85 and you can win an additional $10. Your implied pot odds on the turn are thus At 4.1:1 –> Fold. Implied Pot Odds (Turn): The pot on the river with a call from you Is $30.85 and you can win an additional $10. Your implied pot odds on the turn are thus At 4.1:1 –> Fold.

7. Summary ► Your implied pot odds increase… ▫…if your opponent is showing strength. ▫…if your hand is less obvious. ▫…if it is harder for your opponent to fold a hand. ► Implied pot odds are… ▫…higher on the flop than on the turn. ▫…higher if you are playing in position.