When people talk about price, what does it mean?

I hear a lot of people talking about getting the right price to call or the right price to bet. What does it mean?

pot odds would be my guess.

The bet (price) you need to call, or bet, for something to be profitable. Examples:

Pot is 100, op bets his last 50. You have a flush draw and are sure if you hit the flush you will win the pot.

So your price is 50, to try and win a 150 pot. The pot is giving you 3/1. You're about 2/1 to hit the flush, so you have the right price. If opp bet 200, it would be 200 to you to win a 300 pot, 1.5/1, and you would not have the right price.

Another common example here is someone raising with A high, and then someone moves in. If you're getting 2/1 on your money with A high it's usually the right price.

The right price to bet is a bit fuzzier - say you have nothing, and the pot is 100, and you think you opp will fold 60% of the time if you bet 100. If he calls, you will lose this bet every time and will fold after to any action, never winning the hand.

So if this plays out 10 times, 6 you win 100, 4 you lose 100, so you net 200.

It's mostly guess work, as you never KNOW what opp has - for example you may have a flush draw but be in against a set, so some outs are tainted, or you may be in against a lower flush draw and have the best hand.

when youre priced into calling, it's when you know you're probably drawing with a worse hand than your opponent but the pot is so big the call is mathematically correct.

-'rilla