Estimated return on investment for a particular hand or action, expressed as a ratio or as a percentage that includes the investment amount; the amount of money or chips expected to be in the pot, multiplied by the probability of winning, divided by the amount of money or chips that the player expects to contribute by the end of the hand. Expressed as a formula, investment odds = [(Expected size of pot)(Probability of winning)] / (Amount the player contributes to the pot).
ADDITIONAL INFORMATION: While return on investment (ROI) is a win when above 0 and loss when below 0, investment odds are a win when above 1 (100%) and a loss when below 1 (100%). Investment odds become important to strategy decisions in a number of situations. For example, it may be strategically sound to draw more cards than would theoretically be ideal in a draw game if weakening one's hand slightly entices more aggressive betting by other players. In the long run, the increased pot size may make up for the decreased probability of winning. Example: In a game of 5-card draw a player is dealt Ac-As-Ah-9d-9c. The player has a very high likelihood of winning with this hand. However, the pot is likely to be small if the player does not draw any cards because opponents are unlikely to raise or call against an opponent with a pat hand. Keeping the three of a kind aces and discarding the 9s to draw two cards would weaken the hand, but may entice enough betting from opponents that it provides better odds than staying pat.
EXAMPLE: "I don?t always play for the best investment odds. If I?ve lost a lot of hands in a row, sometimes I?ll keep an overly strong hand just for the satisfaction of winning.?
APPLIES TO: Online and Land-based Venues
Pot odds; the ratio of the amount of money actually in the pot compared to the amount of money required to call and maintain eligibility to win the pot, expressed with the pot amount first and calling amount second.
ADDITIONAL INFORMATION: Uncommon usage.
EXAMPLE: "I had an open-ended straight draw and my opponent raised. I would usually fold in such a situation but the raise was so small compared to what was already in the pot that the investment odds are better than 15:1. I called but ended up not making the straight."