Hold on for some stream of consciousness in a pretty long post. Sorry in advance. But you were warned!!
I agree with Rhound. I think that my initial number was about 33% too high, because I did not take into account the fact that once one person has a set on the flop, the odds of a second person flopping a set also are cut down because the only person really only has 2 cards to hit his set rather than 3.
So taking that into account, it's about a 0.130% chance that two people will FLOP a set. That's 13 times in 10,000, or 1 time in about 770. So now we're down to 1/3 as often as seeing AA as your starting hand, give or take.
Rhound's answer of 0.113% is pretty darned close to my revised answer. So there's some agreement there, I think.
However, I disagree with Rhound about what the numbers mean. The 0.113% or 0.130% chance is NOT the chance that it will happen only after people have pocket pairs. Rather, that chance is starting from the beginning of the hand. Run 10,000 deals of 10 hands each, then throw in a flop each time, and 2 of those 10 hands will show sets on the flop on the same hand a total of about 13 times (or about 11 times if Rhound is correct).
As for Ice's second question, I think that should be pretty straightforward to answer. Here goes, complete with stream of consciousness commentary.
You have a set. Just to keep it simple you have QQ, and the flop comes AKQ. What are the odds that any given opponent started with AA or KK?
We know 5 cards (your QQ, plus an AKQ). 47 remain.
3/47 * 2/46 he has AA
3/47 * 2/46 he has KK
Either one of those is a 0.277 percent chance.
Combined it's a 0.5543 percent chance for
one opponent to have a set.
You have 9 opponents. Only one of them has to have a set to beat you, so we run everybody's favorite combination equation:
9! / [(8!)(1!)] * (0.005543) * [(1-0.00543)^8] = about 4.77%
I'm pretty happy with that answer. It makes intuitive sense.
Conclusion: a little less than 5% of the time that you have a set on the flop, somebody else will also have a set. This is assuming that nobody folded their pair preflop and that you're at a full 10-handed table.
So when you hit your set, it's going to be the best hand
on the flop about 19 times out of 20. (Exept for possible flushes or straights, of course.)
Remember, the odds of you hitting your set in the first place are only about 1 in 145. So at the beginning of the hand, the odds that you yourself will be in a set over set situation is 1 in 145 times 1 in 20, or about 1 in 2,900. Wow, that's low. You'll typically get AA as your starting hand about 13 times for every time you'll find yourself in a set over set situation.
If the board is paired and you hit your set, what are the odds that somebody flopped quads? Damn small. Really, really small. Don't worry about it.