Poker odds are the probabilities of winning or losing in a given situation. All the odds in poker are based on the underlying mathematics of the game. For example, if you’re facing an all-in with a pair of deuces and make the call against ace-king, you’re close to 52% favorite to win the hand.

Poker odds give you the probability of winning any given hand. Higher odds mean a lower chance of winning, meaning that when the odds are large against you it’ll be a long time until you succeed.

It's a very simple calculation to figure basic pot odds: take the amount that's in the pot ($100) and divide it by the size of the bet you need to call ($50), which comes out to 2-1 odds (two times your bet). If the pot had $150 in it and you were facing a $50 bet, the pot odds would be 3-1 ($150 divided by $50).

The term “poker odds” covers several aspects of poker math. One aspect is understanding the number of “outs” your hand has, particularly when drawing, and how you can determine the likelihood of the cards you need being dealt. For example, you have two diamonds in your hand and two diamonds on the flop.