Implied Odds

Implied odds extend the concept of pot odds by accounting for money you expect to win on future betting rounds if your draw completes. While pot odds only consider money already in the pot, implied odds factor in the additional bets your opponents are likely to make after you hit your hand.

Implied odds are most relevant in no-limit and pot-limit poker where future bets can be large. If the pot is $50 and you need to call $20 with a gutshot straight draw (about 8.5% equity per card), the pot odds alone do not justify a call. However, if your opponent has a deep stack and will likely pay off a large bet when you hit your straight, the implied odds may make the call profitable.

Not all draws have good implied odds. Flush draws on a three-flush board are obvious and opponents may not pay off when the fourth suited card appears. Straight draws that complete with a card that pairs the board may run into a full house. The best implied odds situations involve hidden draws (like a set from a pocket pair) where opponents cannot easily detect your hand strength.

Estimating implied odds requires reading your opponents. A calling station who calls every bet has high implied odds because they will pay off your made hand. A tight, observant player who folds when the draw completes has low implied odds. Adjusting your calling decisions based on opponent tendencies and their stack sizes is a key intermediate poker skill.