I've read the Probability and Odds section of ITH several times over the last few years. One element of it confuses me, and I wonder if it's correct. I'm looking at page 27 of the Revised First Edition, where it goes through the five-step process. It says:
Calculate the implied pot odds. Do you expect to win more bets when the king or queen comes? You should win bets 50% of the time when you improve, but you will lose more bets the other 50% when your opponent has a better hand. A simplified assumption would be that all future bets break even.
At that point you've already discounted your outs.
My question is: isn't this double discounting? Given that your outs have been discounted to expected winners already, shouldn't you just be counting extra bets you will win if you hit your discounted outs? Shouldn't you either 1) discount outs and then consider the amount of the pot you'll win if you hit your discounted outs; or 2) don't discount outs but consider both the wins and losses if you hit your outs?
----------
Also, is there an error on p. 29? Board T88Q. You have JJ. It says you have four outs to a straight and four to a full house. Don't you just have two outs to a full house: the two jacks? Yes, another 8 would give you a full house, but it would give any Q a better full house; and the text goes on to say "the only hands that would beat you are QQ, 88, or quads if an eight comes."

News