Implied Odds

I have a pretty good grasp of the definition of implied odds, but I haven't come across any literature that could mathematically define it a little better. I know it is difficult to get an exact answer like expressed odds, but does anyone know of a way to get a approximate answer when playing a pot?

For instance:

Lets say I have 9 outs (flush draw)
2 players remaining in hand
$10 in pot
villain bets $3
expressed odds is bet $3 to win $13 or 4.3:1
implied odds: ?

Thanks![/img]

Implied odds are by definition, in the future. As such nobody can predict them. It is directly related to your opponents and the hands they have. Since this is so, no two hands will ever be the same unless they had the same opponents with the same hands. See why it cannot be predicted? Not only is it in the future but it is dependent upon many other things.

How do we know if we are making the correct call into a raise?

If the expressed odds on a draw are 5:1, would taking 4:1 be correct? 3:1? 2:1?

I think this may be a leak in my game where I over value implied odds.

It really does depend, i'd fold slightly bad odds if i'm up against a tight perceptive opponent and I have obvious draw but I'll take really bad odds on an inside straight draw against a fish who has a probable set. Most draws have an implied factor but theres no quick and easy rules to determine how much.

Also remember reverse implied odds, how likly are you to win even if you do hit, will it be the nuts?

Originally Posted by Lodogg

How do we know if we are making the correct call into a raise?

If the expressed odds on a draw are 5:1, would taking 4:1 be correct? 3:1? 2:1?

Mathematically, taking anything less than 5:1 would be -EV, but implied odds can change all this. It's hard to put a number on implied odds, because it's taking into account the money you make from future bets.

Flush draws in general don't have very good implied odds, because when you hit your flush, it tends to be very obvious. The way to counter this is to raise your flush draws instead of just calling with them. This tends to disguise it more and you will get paid off better when you hit.

In general straight draws tend to have much bigger implied odds since they are harder to spot and as a result I am more apt to just call bets with them since your draw is well disguised. Say I call a preflop raise w/69s, and the flop is 782R. Villian bets the pot. Now I obviously don't have the proper pot odds to chase my OESD, but if I know villian is on AA or KK, then hitting my draw would probably mean taking his whole stack. So basically I'm calling a pot sized bet not to win just what's in the pot, but to win villian's whole stack.

Other things that have big implied odds are suited connectors (from late position) and especially small pocket pairs.

Someone raises.
You have a pp. You call. Why?
If you hit your implied odds are huge if this is a big stack. They suck when its a shorter stack because POTENTIALLY you might win less.
eg Big stack raises in ep, 2 big stacks call in mp
If i hold any two suited cards im calling here coz my implied odds are huge. See what im getting at?

Things that affect implied odds:
# of people in the hand
Draws on the board. Boards with draw will likely be bet harder at so they can kill drawing odds.
Your history with the aggressor.
All prior betting action in this hand. Has everyone been passive or have there been one or more people raising?
High cards on the board. I just love it when I hit my set of 2s when the flop is AA2. Not only did I hit a FH but it is likely someone made trip As. Trip As are going to bet. Almost as good is a flop of 2XY where X and Y are cards T or greater. This greatly affects implied odds.
Your opponents hand. Does he have high PP or overpair? This is a biggie. People often overplay high PP and overpairs even when the board is beating them [4 to a straight, 3 to a flush, etc].