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My brother found this odds calculation for those of us that are not mathematical geniuses and able to calculate the real formula in our heads. As it says it is not exact, but it should be close enough to make an informed decision.
4/2 Method for Calculating Odds -
When there are two cards left to come, multiply your outs by 4. When there is one card left to come, multiply your outs by two.
For example: After the flop with two cards to come (turn and river) multiply your outs by 4.
If you have two outs, you have roughly an 8% (2 * 4 = chance of making your hand
For example: After the turn with one card to come (River) multiply your outs by 2.
If you have 2 outs, you have roughly a 4% (2 * 2 = 4) chance of making your hand.
While the 4/2 method is not exact, it will get you close enough to the true odds to make a decision on whether or not to continue playing a hand.
4/2 Method for Calculating Odds -
When there are two cards left to come, multiply your outs by 4. When there is one card left to come, multiply your outs by two.
For example: After the flop with two cards to come (turn and river) multiply your outs by 4.
If you have two outs, you have roughly an 8% (2 * 4 = chance of making your hand
For example: After the turn with one card to come (River) multiply your outs by 2.
If you have 2 outs, you have roughly a 4% (2 * 2 = 4) chance of making your hand.
While the 4/2 method is not exact, it will get you close enough to the true odds to make a decision on whether or not to continue playing a hand.