What does expected value mean in poker?

What does expected value mean in poker?

EV
Expected value—commonly referred to as EV—is the long-term result of your decisions in a particular poker hand. It is not enough to only observe the result of a hand because of how variance skews your perception of how good your strategy really was.

What is equity value poker?

When you play poker, ‘Equity’ refers to your ‘rightful’ share of a pot as determined by your current chance of winning the hand. If you are heads-up with $180 in the pot and your chance of winning the hand is 50\%, your ‘equity’ in the hand at that moment is $90.

How do you calculate expected value in poker?

To form our EV equation, all we need to do is multiply the probability by the win/loss in each of the boxes, then add all the boxes together. So the EV of calling with AK is +$3.03. Every time we make this call, we win $3.03 on average.

What is expected value in Texas Holdem?

Expected Value in Texas Holdem. An important concept that most winning Texas holdem players understand is expected value. The expected value is the average amount you win or lose on a situation if you were able to play the exact same situation thousands of times.

What does chip EV mean?

EV (short from Expected Value) is widely used by poker players. A poker player’s knowledge, mastery and quality of plays is indeed represented by his EV. Expected value shows the average value of repetitive action.

What is all in equity poker?

The All-In Equity stat tells you what your actual equity was in the hand when you were all-in – since you can have at most a 100\% chance of winning and at least a 0\% chance, that will always be between 0 and 100.

What does GTO in poker mean?

Game theory optimal
Game theory optimal (GTO) poker is an umbrella term players use to describe the holy grail of no-limit holdem playing strategy, by which you become unexploitable to your opponents and improve your winrate.

How do you calculate expected value?

In statistics and probability analysis, the expected value is calculated by multiplying each of the possible outcomes by the likelihood each outcome will occur and then summing all of those values. By calculating expected values, investors can choose the scenario most likely to give the desired outcome.

What does all in EV mean?

All-In EV in Theory What the stat does is take situations in which Hero is all in and adjusts the amount won accordingly, based on Hero’s equity at the point Hero went all in.

What is IV in poker?

Texas Hold em Poker There are four stages: (i) everyone gets two cards, (ii) three cards are dealt face up in the middle (this is the flop ), (iii) a fourth card is dealt face up in the middle ( fourth street or the turn), (iv) then a fifth ( fifth street or the river). After each stage is a round of betting.

What is expected value (EV) in poker?

Expected Value is a monetary value (e.g. +$10.50). It can be positive or negative. EV tells you how profitable or unprofitable a certain play (e.g. calling or betting) will be. We work out EV when we are faced with a decision. That’s the basics of it, but what’s the relation between these two mathematical concepts in poker?

What is the difference between equequity and expected value?

Equity is a percentage (e.g. 70\%). Equity tells you how much of the pot “belongs” to you, or to put it another way, the percentage of the time you expect to win the hand on average from that point onwards. Expected Value is a monetary value (e.g. +$10.50).

What is expected value (EV)?

Expected value (or EV) is the metric used to describe the profitability of poker decision. An expected value can be positive, neutral or negative.

What is the expected value of a bet?

If we are the player making the bet, the expected value will be based on our pot equity, bet size and fold equity. To take a real world example – we park our car in a city and unfortunately it costs is $5 an hour. We know we will be at least 1 hour.