Ok this post is going to involve part of a hand history but the post is meant more as a topic on getting a read from your opponent's betting pattern and then counting/discounting your outs. It might seem obvious to veterans, but I think it is good practice for beginners.
The scenario. You are in mid/late position with :Qd: :Kd: and have 20k chips in an MTT. The blinds are at 200/400 with a small ante. The guy directly to your right has 12k chips and open-raises (everyone folded to him) for 1,300. You call and everyone else folds. The pot now has close to 3500.
The flop comes :Tc: :Js:
Before any betting is done, you do a quick out counting exercise and quickly come up with 14 outs. 8 outs for the oesd (open end straight draw - any 9 or A will give you a straight) and 6 outs for the remaining Qs and Ks. 14 x 4 (multiply each out by two for each street remaining - since there are 2 streets remaining it is 14x2x2) is 56 so you quickly calculate that you have over a 50/50 shot to win this thing and can get aggressive here.
But then your opponent bets. You have no real read on your opponent. But his bet is strange. He overbets (bets more than what is in the pot) the pot by betting 5k.
So now you need to determine what this bet means. What is he saying to you? Well one of the things he is saying to you is that he is not folding this hand no matter what. He has put in over half his chips. Preflop you might have put him on a very wide range of hands. But postflop, well... he probably isn't making this play with a pocket pair lower than tens (there is always a chance he is just making a weird play that you are misreading but these hands are all doubtful). He probably isnt making this play with TT or JJ because he would then want action and would slow play. He might be making this play with QQ-AA, but again he would probably try to slow play these hands. So what does that leave us as the most probable hands?
AJ-AK and QK. AJ makes sense because he hit his top pair but is vulnerable to a draw and scared that I'll play since I have more chips. His bet makes sense to scare me off and make me pay to hit a draw. AQ and AK make sense as well. He would have bet like this preflop with those hands, and especially with AK many players have a hard time letting go when they get called so he is hoping his hand is best and semi-bluffing if it is not as any Q, K or A should win it for him in his mind (it would give him either a straight or high pair). QK makes sense as a semi-bluff. He is putting his money in as what he thinks is the statistical favorite at over 50% with 14 outs even though he is doubtful that his hand is actually ahead right now.
Out of those 4 hands I tie the QK, and with AJ I have 13 outs (he has the A so only 7 outs for the stright draw and 6 for the Qs and Ks) which is about 50/50. However against both AK and AQ, I have only the 7 outs for the straight. If I were to get the Q or K against those hands I would lose either to the higher kicker or it would give the opp a straight. 7 outs gives me only about a 1 in 4 shot (quick math 7x4=28%). So in the end, I have about a 50/50 shot at winning this hand only against one specific hand and losing about 3/4 of the time against two other hands that are distinctly possible. The best thing for me to do is fold.
By the way. A quick way to figure out your equity on a hand like this is simply to add up the outs and divide by the number of hands. In this case it is 7+7+13/3 = 9 outs. 9x4 is 36 - so my equity is about 36%. If you have a hand where you can't put your opponent on such a tight range the thing to do is figure out the most outs you could have and the least outs you could have and then choose a number in the middle that you feel most likely represents the outs you actually have.
Poker stove shows that my quick calculations are pretty good though:
equity (%) win (%) tie (%)
Hand 1: 36.7082 % 26.62% 10.09% { KdQd }
Hand 2: 63.2918 % 53.20% 10.09% { AJs+, KQs, AJo+, KQo}
Hope this post makes sense and was useful. If not, there's always next week's tip o' the week.