In the previous chapter, Odds, we discussed different probabilities when drawing to a hand. In essence we discussed the actual bet size one could call profitably with regards to the pot size and the number of outs.

What we didn´t discuss is how future betting rounds affect the pot odds. These future betting rounds add money to the pot and by doing so one often has significantly better pot odds than one might expect. For example you might have flopped a flush draw and the pot is $40. In other words you can call a $10 bet. But what if somebody bets $20? Can you still call that bet? The answer is probably yes. Since two betting rounds remain the pot will most likely increase in size. All of a sudden the implied odds have given you the right odds to call! Instead of calling $20 to win 40$ you are actually calling $20 to win $40 + money from the next two betting rounds. These two later betting rounds turns an unprofitable call into a winner.

In other words when calculating your pot odds you must also consider future betting rounds. Especially early in the hand when two betting rounds remain.   

Fixed limit vs no limit

How are odds affected by the different types of poker? Well generally speaking the same concept apply to all types of poker. Even so there are a few things one should take notice of.

When playing no limit one should usually draw to a stronger hand. This is because more money is at risk and so one should have a better hand. No limit also offers considerably better implied odds. This is due to the relatively large betting size on later rounds and is also the reason why you can play more starting hands in no limit. Since the betting size increases a lot after the flop in no limit it can often be profitable to call with a descent draw on the flop even though you might not have the right odds (on the flop) to call.

Fixed limit also offers implied odds however not to the same extent as no limit.

Another aspect of no limit is that it gives you the ability to control the odds you give your opponents. If you suspect that one of your opponents is drawing to a flush than it can be a good idea to bet a large amount effectively cutting down your opponents odds. In this way you can control your opponent’s odds. If an opponent still chooses to draw to the flush with the wrong odds he or she will loose money in the long run. 

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