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Not that anyone asked, but just to be thorough :
The pot is $4.02 and hero is facing a bet of $3.50. The pot odds in terms of probability are 46.54% ($3.50/($4.02+$3.50)) meaning you'd have to win almost half the time for calling to be profitable. Think of it this way. Say there was no pot and someone shoved a dollar in the pot. You'd need exactly 50% odds to break even. So, if someone makes a huge over bet of a small pot, the pot odds are going to be very close to 50%. Pot odds in terms of probability can never be higher than 50% and only 50% if it's a dry pot. That is why you always hear odds described as a number higher than 1 to 1 like 2 to 1 or 3 to 1. You can never get 1 to 2 on your money.
As for how I got the $4.02 and $3.50 figures. The final pre-flop pot was $0.22 and villain's stack @ the moment was $3.65 (his initial stack minus the blind). Hero bets $0.15 to make the pot $0.37. Villain re-raises the rest of his stack all-in, which is $3.65, making the pot $3.65 + $0.37 = $4.02. Since hero led out for $0.15, he only has to call $3.50 ($3.65 minus $0.15) to continue. As for the actual odds, he's getting $4.02 to $3.50 which comes out to about 1.15 to 1.
It can sometimes get confusing because I like to think in terms of probability, but often people refer to odds. I think people refer to odds more because it's easier to say, but more difficult to convert to probability percentage unless you have a few memorized. Odds is a ratio. Probability is a percentage. 2 to 1 odds means out of 3 outcomes (2 plus 1), you will win once. Converting that same odds to probability percent breaks down to 1/3 or 33.33%. It can be more confusing than most people think, which is why I think more than 90% of the people who mention pot odds @ home games really have no idea what they're saying much less any idea how to properly apply it
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