Code for positive expected value decisions Aidan Wilson 路 Follow Published in Analytics Vidhya 路 5 min read 路 Apr 馃挸 3, 2024 -- Share
Introduction to Pot Odds and Equity
Pot Odds
Pot odds, simply put, are the relationships between the total pot 馃挸 size and the bet that you must call to see the next card. Pot odds explain the amount of money 馃挸 you will win for every dollar you put into it yourself.
To calculate pot odds, simply divide the amount of money 馃挸 you must call by the total pot size if you were to call. For example, if the pot size isR$100 馃挸 and you must put inR$50 to call, you would do:R$50/($100 +R$50). Which would give you pot odds of 1/3, or 馃挸 about 33%.
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