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A poker odds calculator calculates a player's winning ratio. Winning ratio is defined as, the number of games won divided by the total number of games simulated in a Monte Carlo simulation for a specific player.
PokerStove is a program that calculates hand equities (i.e., expected percentage of the time that each hand wins at showdown). [3] Since poker is a game of incomplete information, the calculator is designed to evaluate the equity of ranges of hands that players can hold, instead of individual hands. [4]
In statistics, this is called odds against. For instance, with a royal flush, there are 4 ways to draw one, and 2,598,956 ways to draw something else, so the odds against drawing a royal flush are 2,598,956 : 4, or 649,739 : 1. The formula for establishing the odds can also be stated as (1/p) - 1 : 1, where p is the aforementioned probability.
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To calculate the odds of being dealt a pair 78 (the number of any particular pair being dealt. As above) divided by 1326 (possible opening hands) 78/1326 ≈ 0.0588 or 5.88%. Suited hands, which contain two cards of the same suit (e.g. A ♣ 6 ♣).
Pot odds are only useful if a player has enough equity.Equity is the chance a player has to win the hand at showdown.It is calculated as the fraction of remaining cards in the deck for each remaining street (sequential card being dealt, e.g. turn, river) that can give a player the winning hand.
Poker hand converters allow players to take text-based online poker hand history files from online cardrooms and convert them into formats friendly to the eye and suitable for posting on online message boards. Hand converters are often used to show played hands to other players for analysis and discussion.
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