Fold Equity: what exactly is that??

I see FE (fold equity) referred to many times in these posts. I have a foggy notion as to what it is, but it is not in "super System by Doyle Brunson, nor in "PLay Poker Like a Pro" by Phil Hellmuth, nor in "The Theory of Poker" by Sklansky; (aren't i learned). lol
Seriously, a little discussion here on this would probably serve many players well. (like me)

It's how often your opponent folds a better hand. Most commonly discussed in pushing draws.

[tripp0807]

Set your copy of Hellmuth's book on fire before you lose money.

The search function works!!! (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Board=holdem&Number=4141780&Sea rchpage=1&Main=4141284&Words=%2B%26quot%3Bfold+equ ity+is%26quot%3B&topic=&Search=true#Post4141780)

[PinkSteel]

Easiest to explain in terms of going all-in or putting your opponent all-in. You want to know if that's a +EV move. So you'll do a simple calculation, like

EV =
Percent of time opp. calls and he wins * amount of loss
+ percent of time opp. calls and I win * amount of win
+ percent of time opp. folds * amount of current pot

That % of the time your opponent folds is a critical part of the calculation for all-ins, and that's your fold equity in the hand.

As Kathleen said, some players think of it as the % of time your opponent folds a BETTER hand, but I don't think of it that way. I think of it as the last part of the "My hand wins vs. his hand wins vs. he folds so who cares" question.

Freerollin, I read the post you found for me. Perfect, . Thanks

[zaphod]

[ QUOTE ]
Set your copy of Hellmuth's book on fire before you lose money.

The search function works!!! (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Board=holdem&Number=4141780&Sea rchpage=1&Main=4141284&Words=%2B%26quot%3Bfold+equ ity+is%26quot%3B&topic=&Search=true#Post4141780)

[/ QUOTE ]

No, that would be a waste. Give it to your opponents instead.

[tripp0807]

Glad to help. I was too lazy to write out a detailed description like PinkSteel, but his post is gold.

to elaborate then
EV = (25% x $20) + (50% x $20) + (25% x $40)=

ev = ($5) + ($10) + ($10) = $25
this last $10 is fold equity?

[GrunchCan]

linky (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Board=ssplnlpoker&Number=350271 8)

[4_2_it]

[ QUOTE ]
linky (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Board=ssplnlpoker&Number=350271 8)

[/ QUOTE ]

Grunch. Your post should be added to the FAQ. Perhaps there should be a thread for people to contribute ideas/additions to the FAQ. I think Fim's "When it's time to move up" post is worthy of FAQ treatment.

[GrunchCan]

I'm not sure my post is FAQ-linked worthy. I'm not totally satisfied with my treatment of bluffing. The topic is so broad & complex that it can't really be done justice in anything less than a book.*

Fim's definitely should be linked, however. I'm working on a list of important SSNL links, and that's one of them.

* (Edit) For example, my discussion of a continuation bet is rather narrow. I define a CB as a bet that has no semi-bluff value, only bluffing value. In fact, I believe this is almost never actually the case. If you CB with KQo on a T-high disconnected board, your bet has value other than bluffing equity. You might have the best hand, or you might have 6 outs or more to the best hand.