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There is an easier way to estimate odds though. It's generally called the 2-4 Rule.

The way it works is :

  • If you are trying to figure your chances with one card to come, you multiply the number of outs you have by 2.
  • If you are trying to estimate your chance for the turn and river combined, you multiply your outs by 4.

The number won't be exact, but will serve as a rough estimation.

For example,

  • After the flop, you have an open-ended straight.
    What are your odds of making the straight? Actualy odds are 31.45%.
    If you used the 2-4 rule, you'd come up with 32% (4 x 8 outs). Because you have 2x8=16% of making the straight on the Turn, and 4x8=32% of making the straight on the Turn OR River.
  • After the flop, you have a 4-card flush.
    What are your odds of making the flush?
    You have 9 remaining suited cards you needs (outs).
    Odds of making the flush on the Turn are 2x9outs=18%
    Odds of making the flush on the River are 4x9outs=36%