Can someone explain me the concept of Equity/and how Pokerstove works?
 

All help is appreciated

Re: Can someone explain me the concept of Equity/and how Pokerstove wo
 

Imagine you've bet some money on a horse. In the real world, the race is run just once, and you either win your bet or you lose it. But imagine we had a great horse-racing simulation, and we could take the race you'd bet on and re-run it 100,000 times. Each time we note whether you would have won or lost your bet. We keep a tally of how much money you would have won or lost on each of those bets. At the end of the process, we divide the total money won or lost over all those races by 100,000 to find the average amount of money you won/lost per race. That represents the equity of your bet: how much it can be expected to make in the long run, despite the fact that no single race in the real world actually has a "long run".

PokerStove and other tools like it work the same way, except for poker instead of horses. Instead of simulating many races, we simulate many different deals of a deck of cards to find out whether your hand and betting strategy was a profitable one.

Re: Can someone explain me the concept of Equity/and how Pokerstove works?
 

Jtr's reply was good.

Equity can be expressed using a simple equation.

Equity = (chance of winning pot) x (size of pot)

Paul

Re: Can someone explain me the concept of Equity/and how Pokerstove works?
 

[ QUOTE ]
Jtr's reply was good.

Equity can be expressed using a simple equation.

Equity = (chance of winning pot) x (size of pot)

Paul

[/ QUOTE ]

Not to nitpick, but since this is the Theory forum...your equation is incomplete in that it doesn't factor in moneys won from ties. Additionally, to be complete one should factor in additional gains to be incurred on future streets when applicable.

Re: Can someone explain me the concept of Equity/and how Pokerstove wo
 

Pot equity is what percentage of the pot you currently "own" and thus expect to win on average if the hand was dealt out an infinte number of times. It is purely mathematical and has nothing to do with implied odds as another poster said.

Simple example: if there is a $100 pot and two players and you are a 70:30 favorite with two cards to go.... you have equity of 70% ($70), and your opponent has 30% equity ($30).

It's kind of confusing at first since you are either going to win the pot or you are not. But that's the idea.

Pokerstove works by dealing out (or simulating) every possible combination of unspecified board cards and calculates what percentage of the time you will win and adds in your share for ties as well.

Edit - Read this: http://www.pokerstove.com/pokerstove/faq.php