Re: Every Poker Player Should Know
ev is expected value. it is the sum of the probabilities multiplied by the outcomes of a given event. for example... if you bet $5 on a coin toss...half the time you win $5 and half the time you lose $5...so the ev of the coin toss is .5(5)+.5(-5) which = 0...ev is like calculating the average result in the long run of doing something (applies heavily to poker)
fold equity is hard to determine mathematically but is basically a factor in making a bet which takes your opponents probability of folding into account.
cev is not the same as ev. cev is the ev of a tournament play as far as the CHIPS are concerned. but since the chips do not have direct $ value... the $ ev is usually calced and given the most importance.
i hoped that helped man
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