Pot odds – GTO Wizard - Poker Glossary

The ratio of [the size of the bet a player is facing] in relation to [the size of the pot]. For example, a player facing a half-pot bet can call, risking 0.5 to win 1 (the pot) and 0.5 (their opponent's bet), and therefore is being laid odds of 3:1. They need 1 / (3+1) = 25% to break even on a call. A common misconception is that the player facing the bet needs 25% equity, when in fact they need to win 25% of the value of the pot. If that player could face future bets then they need to estimate their expected value rather than relying on raw equity.

What is Pot odds in poker?