You already know pot odds: they compare what you pay with what you can win right now. But sometimes you call with a draw that pot odds don't justify… and it's still correct. That's where implied odds come in.
Pot odds: the present
If you're bet half the pot, you need ~25% equity to call. If your draw has less, pot odds say “fold”.
Implied odds: the future
Implied odds add the chips you'll win on future streets if you hit. If you have a hidden flush draw and, once you complete it, your opponent is going to pay off a big bet, you can call now even if the direct pot odds fall short — because the real reward is bigger.
- •More implied odds: deep stacks, disguised draws, an opponent who pays a lot.
- •Fewer implied odds: short stacks, obvious draws (the opponent won't pay if the board hits), a tight opponent.