Quote:
Originally Posted by Cry Me A River
Hello again.
After doing some math and watching Splitsuit's video on equity exploration, it turns out my problem was in the transition between % pot odds and "x:y style" pot odds.
Taking your example into consideration again, with a pot of 100$ which I had to call 20$ to have a chance to win, I would calculate pot odds by dividing 20/120 = 1/6 ~ 17%. If you do this way, which I was taught to be the "% method", or something along those lines, it is correct to divide by 120.
Looking at the x:y form, the 100:20 odds, that you correctly told me were the right numbers, translate into the same rough 17% figure that I reached with the method I've been using.
So in fact I've been doing pot odds calculations correctly after all, just in a different way - and I answered your question wrong because I'm not too used to x:y odds, and how the conversion between systems works.
It was a nice exercise, figuring this out, and the realization that after all I had not been doing pot odds calculations wrongly all this time was a nice one too.
Edit
So in terms of pot odds, disregarding implied odds and all other factors, I believe we can say something along the lines of:
"The minimum probability of winning (Min. Equity) that we would need in order to make a +EV call, would be:
% way: Min. Equity = Size of our call / (Size of the pot when action reaches us* + Size of our call).
x:y way: Min Equity = Size of our call : Size of the pot when action reaches us*."
*Even when this includes money that we ourselves previously put in.
P.S. This may seem like a weird question/post coming from the absolute beginner that I am, but fact is, with my education path and poker experience...let's say I just feel more comfortable dabbling in math than in poker theory at the moment, lol. Hoping to change that sometime in the future
Last edited by Dondarrion; 04-26-2012 at 02:03 PM.