In poker your outs are the unseen cards that will complete or improve your hand to make it the winning hand. Each additional card or "Out" will improve your percentage of surviving the hand and coming out a winner.
If the flop is QJ2 and you have 10 9, you want a king or an eight to complete your straight. There are 4 kings and 4 eights in the deck, so you have 8 total outs.
So you have to count the cards that you can catch to give you the best hand and then refer to the chart below to calculate your odds on catching it.
The Odds chart below shows the percentage and odds of making your hand based on your number of outs.
You will be able to tell if the pot is laying you correct odds by using the number of chips in the pot divided by how many you have to call. If you have 10.9 to 1 odds against catching your hand and the pot is only laying you 3 to 1 odds then you should definitely fold. Try to make sure that the pot is giving you the odds it should for you to try to catch the card(s) you need.
Number of outs .......................After Flop................................................After Turn
.........................................Two cards to come..................................One card to come
................................ Percentage........Odds against.................... Percentage........Odds against
1 ..................................4.3....................22.4 .........................................2.2 .................44.5
2 ..................................8.4....................10.9 .........................................4.3 .................22.3
3 ................................12.5 .....................7.. ..........................................6.5 .................14.4
4 ................................16.5 .....................5.1 .........................................8.7 ................10.5
5 ................................20.3 .....................3.9 .......................................10.9 ..................8.2
6 ................................24.1 .....................3.1 .......................................13..................... 6.7
7 ................................27.8 .....................2.6 .......................................15.2 ..................5.6
8 ................................31.5 .....................2.2 .......................................17.4 ..................4.7
9 ................................35 ........................1.9 .......................................19.6 ..................4.1
10 ..............................38.4 .....................1.6 ........................................21.7 .................3.6
11 ..............................41.7 .....................1.4 ........................................24 ....................3.2
12 ..............................45 ........................1.2 ........................................26.1 .................2.8
13 ..............................48.1 .....................1.1 ........................................28.3 .................2.5
14 ...............................51.2 ....................0.95 ......................................30.4 .................2.3
15 ...............................54.1 ....................0.85 ......................................32.6 .................2.1
16 ...............................57 .......................0.75 ......................................34.3 .................1.9
17 ...............................59.8 ....................0.67 ......................................37 ....................1.7
18 ...............................62.4 ....................0.6 ........................................39.1 .................1.6
19 ...............................65 .......................0.54 ......................................41.3 .................1.4
20 ...............................67.5 ....................0.48 ......................................43.5 .................1.3