Can someone explain EV?

[HighRollinAC]

I'm not really a beginner at poker, but when I arrived at these forums, I found a lot on ev. What exactly is it? Is it the expected value amount per hand? Or is it more like pot equity..?

[googleit123]

In a nutshell, how much you expect to win/lose by calling/betting/raising.

To calculate the EV of an event take all possible outcomes and assign each of them a probablility and a result. The sum of the probablilities equals 100 percent. The sum of each individual result multiplied by its probablilty equals the EV of that event.

If the EV is positive, you GAIN money with that action.
If the EV is negative, you LOSE money with that action.

Pot equity is your share of $$$ in the pot. Expressed in either bets or $$$. For example, when you flop a set you have around 80-85 percent equity. There are 10 small bets in to pot and to simplify things let's say there are 11 big bets in the pot at the river and you are raised on the river after betting.

Hero: 33
Villan: KT

Flop: K3Q rainbow
Turn: J
River T

Obviously you won that hand, but what if the flop had came K3T and villan rivered a boat. Well you flop equity was 80 percent. So basically you stand to win that pot 80 percent of the time and lose about 20 percent.

You bets on the flop and turn are EV+ while calling down a villan with a gut shot in a 5 small bet pot is EV-.

The exact figures may need a little tweaking but you get the point.

Hope this helps!

[Poker Plan]

EV

Expected Value

How much you expect to win or lose ON AVERAGE for the bet you are prepared to make.

[thoronas]

Does anyone have a good website for figuring out or calculating EV? I've got the concept down but I fail at the math.

[Jeff311420]

Topic is covered in depth in Sklansky's Theory of Poker.