The ratio of negative outcomes compared to positive outcomes, as expected in the long term given a particular situation; as opposed to odds for. Expressed with the number of expected negative outcomes first.
ADDITIONAL INFORMATION: Example: A player has 8 possible cards remaining to successfully complete an open-ended straight draw on the river. There are 46 cards remaining in the deck, leaving 38 cards that would fail to complete the open-ended straight draw. The odds against in this case would be 38:8, which reduces to 19:4, or approximately 5:1 against. This does not mean there is a 1 in 5 chance of success, but rather that the chances of success are 5 times smaller than the chances of failure. The chance of success is actually slightly worse than this, as it is 8/46 rather than the 8/38.
EXAMPLE: "The odds against completing an open-ended straight draw on the river are approximately 5:1."
APPLIES TO: Online and Land-based Venues
A situation in which there is a greater probability that something will not happen than there is a probability that it will happen.
EXAMPLE: "I had odds against making the straight, but the pot odds were high enough that it was worth calling my opponent's raise."