Implied odds are the extra money you expect to win on later streets when your draw completes. They let you call a bet that immediate pot odds alone don’t justify.
A hand can be a fold on raw pot odds but a call once you add the payoffs you’ll collect when you hit. Deep stacks, well-disguised draws (like a low straight draw), and opponents who pay off big hands all raise your implied odds.
The mirror image is reverse implied odds: hands that win a small pot when ahead but lose a big one when behind — such as a weak top pair or a dominated draw. Spots decided by implied odds resist exact equations, so judge them by stack depth, board disguise, and how sticky your opponent is.
Reverse implied odds are the mirror image: the chips you lose later when you improve and are still beaten. They hurt most for weak draws and dominated pairs — a low flush draw, bottom pair on a high board. With 6♥5♥ on Q♥8♥3♣ facing 5 into 6, the flush draw still has the price to call with two cards to come, but a bigger heart beats you when it hits, so you keep the pot small instead of building it. Short stacks shrink both effects: with 25bb most of the money is already in the pot or goes in on the next bet, so there is little left to win later.
Worked example
FAQ
When are implied odds highest?
When stacks are deep, your draw is disguised, and your opponent tends to pay off big hands. Shallow stacks and obvious draws kill implied odds.
What are reverse implied odds?
The risk of losing extra money when you make a hand that’s still second-best — like completing a low flush against a possible higher one. They argue for caution with dominated draws.