A straight and flush draw is a good example of a hand with multiple ways to win the pot. If the board was 6-7-8, with two spades, and you have the Ace-nine of spades, then you would probably win the hand if a spade comes or if any ten or five comes.
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On the flop, a flush draw is around 33% to win by the river. A straight draw adds six additional outs, making your hand 57% to win by the river. Your hand is probably not the best hand, but if all the money were to go in right now, your hand would be a favorite even if your opponent had a monster like a set or two pair. Unfortunately for your hand, if you don’t improve on the turn card, your chance of winning drops to about 28%, and you’re no longer the favorite.
The best way to play a very strong draw, something with more than 14 outs, like a straight & flush draw, is to get as much money in on the flop as you can. If your opponent has a really strong hand, he will probably oblige you, which you don’t mind, as you’re a favorite against even strong hands. If he has a hand that beats you, he could also fold it, which means you win the pot without having to draw. Additionally, by playing aggressively on the flop, you may have the opportunity to check behind on the turn if your hand does not improve, taking the river card for free.
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Additional Straight AND Flush Draw Questions: