What are Implied Odds?

IMPLIED ODDS: In our example above, we were getting paid 3-to-1 on a 2-to-1 draw chance. We concluded that was good. But what if our opponent had $8,500 additional chips in his stack? What if the situation was a straight flush draw and not just a flush draw and we think our opponent has trips or something strong that he would call with? Maybe we think he has the Ace high or nut flush. We would win if we hit our draw and the straight flush. The pot may have insufficient odds in it to make us think about calling assuming he has the best hand right now. However, in some situations, we have to consider the possibility that if we hit our miracle card, we would also get a call from the player for an all-in bet we would make thereafter. That makes the odds a lot bigger than just what is just in the pot. Whereas above we had a situation where we had to call $50 to win $150, if we hit an open ended straight flush draw and we concluded that we would get an all-in call from our opponent because he has hit his ace high or nut flush. We would have to take our opponents $8,500 remaining chips into account as we calculate our odds. Now we would be getting a lot more than just 3-to-1 if we hit our miracle card. These are what are referred to as ‘implied odds.’

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