This is an area where good poker players will beat the odds over time. If mathematically they are getting value for their money, they will be a winner. This doesn’t mean that they will win every hand, every session, every week, but it certainly helps them over the long haul.

Let’s use a very simple example. Let’s assume you were betting against someone in a coin toss. The coin was a normal coin and the person throwing it wasn’t cheating or using any special techniques to change the luck of the game. You would have a 50% chance of winning the coin toss. If the person who you were betting against said that he would give you $200 if he lost but you only had to give him $100 if he won you would take the bet every time. You would be risking $100 to win $200 (1/2) on an even money chance.

If the tables were turned and you had to give him $200 if you lost but he only gave you $100 (2/1) if you won then you would be giving odds of 2/1 on a bet that had an even money probability. These are extreme examples but you should see the point. In poker you are always faced with the prospect of getting good value or bad value.

Every beginner’s poker book will talk about pot odds and it is certainly something that you should learn. Many new players get scared and think that they will need a degree in advanced mathematics or statistics to work out the odds. It is far simpler than this to work out the basics and before long you will be able to concentrate on your game as these odds will be entrenched in your mind to call up whenever you need them.