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 Originally Posted by MadMojoMonkey
 *sigh* OK, let me try again.
Hero has 33 in the BB. Villain raises 3bb from the BTN in steal situation. Villain's ATS is 23%; put villain's range on 25% in the stove:
{ 66+,A2s+,K6s+,Q8s+,J8s+,T8s+,A7o+,K9o+,QTo+,JTo }
Pokerstove has Hero at 46% equity at this point, so the revised implied odds for all winning hands (not just set mining) is:
(54/46)*0.10 - 0.22 = -0.10 ; Hero is priced in without implied odds.
Woweee! Hero flops middle set. Now, how to extract value:
How am I doing so far? 
why does 46% equity matter if we aren't all in?
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