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A poker odds calculator calculates a player's winning ratio. Winning ratio is defined as, the number of games won divided by the total number of games simulated in a Monte Carlo simulation for a specific player.
PokerStove is a program that calculates hand equities (i.e., expected percentage of the time that each hand wins at showdown). [3] Since poker is a game of incomplete information, the calculator is designed to evaluate the equity of ranges of hands that players can hold, instead of individual hands. [4]
In statistics, this is called odds against. For instance, with a royal flush, there are 4 ways to draw one, and 2,598,956 ways to draw something else, so the odds against drawing a royal flush are 2,598,956 : 4, or 649,739 : 1. The formula for establishing the odds can also be stated as (1/p) - 1 : 1, where p is the aforementioned probability.
To calculate the odds of being dealt a pair 78 (the number of any particular pair being dealt. As above) divided by 1326 (possible opening hands) 78/1326 ≈ 0.0588 or 5.88%. Suited hands, which contain two cards of the same suit (e.g. A ♣ 6 ♣).
Calculators are poker tools that calculate the odds of a hand (combined with the cards on the table if there are any) to win the game. Calculators provide precise odds but they cannot be used in live games and are therefore mostly used on Internet poker games. The first known commercial poker calculator was marketed by Mike Caro.
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