Here's what I do when facing a bet. I'm on the button after the flop with air. The villain bets out. I imagine him calculating pot odds and then leaving me with just less than the odds I would need to call the bet. Then I try to narrow his range. Then, I either fold or raise intending to destroy those pot odds and drive out any draws (even with air, sometimes, depending upon my read).

This works well for me (level 2 thinking, playing the opponent's hand). I can usually get my money in good that way.

Reverse pot odds (ino) are just the regular pot odds my opponents are trying to earn on my bets/calls. If the guy seems to understand pot odds, I won't call his bets figuring his bets will lay odds in his favor.