Knowing what the odds are of being dealt a specific hand in poker doesn't do much to improve your game. But knowing the difference between “pot odds” and “card odds” can help you formulate your betting strategy and, in the long run, help make you a winning player.

Pot odds are easy to figure: it's a ratio of the amount of money you have to put in, to the value of the pot. If the pot is worth $500 and you have to put in $5 to continue playing, the pot odds are 100 to 1. If you have to put in $50 to stay in the game, the pot odds become 10 to 1.

Card odds describe the probability that you'll improve your hand with a draw or the next round of dealing. For example, if you hold a pair in your first three cards, your odds of improving your hand range from about 2.5 to 1 to a little over 3 to 1, depending on what the other players are showing. If you hold four cards to a flush, you have about a 1-in-5 chance of getting the card you need. In either case, your betting strategy will be influenced by both the pot odds and the card odds.

Let's say you have a pair of 10s and a 7, with no other 10s or 7s showing. The pot is $100, and you have to kick in $10 to keep playing. The odds of you improving your hand are about 2.5:1, and the pot odds are 10:1. In this case, it's probably worth your while to stay in the game, because the pot odds are good and your card odds aren't bad.

But what if the pot is only $20, and you have to put in $5 to stay in the game? That drops the pot odds down to 4 to 1, and your card odds don't look quite as good in comparison.

Card odds can vary significantly depending on the type of game, the number of players, and other factors. The following chart shows the general odds of drawing one card to complete a hand, using a fifty-two-card deck with no joker.