Guys, you're killing the poster with Math. I consider you all genius in the department, but lemme give a different perspective with a hand story...

I was in a live tournament this weekend with a good stack 4500+, and a fairly low blind level 25/50. We went to a limp flop 5 handed, and I held A5 suited clubs in LP. The flop came 22J with 2 clubs. The pot was 250. A person bet the flop 150, and got min raised to 300 by the person after them. I put this person on trip 2's. I called, and the original bettor (probably with some kind of J) also called. The pot was now 1150. The turn brought a non club 4. Now I had a flush draw and a gutshot. It was checked to the aggressor (holding trip 2's), and they bet 900. Being the next to act, my pot odds were shot to hell. The opponent had more than 5000 in their stack however (the other high stack at the table). Also, I knew this opponent to be a person almost incapable of dropping a strong hand to aggression.

What I deduced from this situation, is that I would get pretty good value on a flush, and I would absolutely drain his whole stack if I hit my gutshot. This gave me outstanding implied odds. A lot of things told me the opponent would put a lot of chips in the middle on a later street. They have trips, they make deep bad calls often, and I had 12 outs with 3 of them very deceptive. I called the 900, hit my miracle gutshot on the river, and proceeded to destack the opponent with haste.

That's what implied odds are from my perspective.