[hobbsmann]

fold equity is measured in big bets, but it is often talked about in terms of a percentage. For example, say you are HU on the turn in a 6 bb pot with a flush draw + straight draw. Currently you have the worst hand, but you suspect your opponents hand is a fairly marginal and he will fold to your raise some x% of the time. Well in terms of EV your turn raise is -EV as your draws will net 15/47*(3bb)-(1-15/47)*(2bb) = ~-0.37 bb, assuming 1 bb of implied odds. But, we can quantify FE as a third term in our EV equation that nets us the whole pot the times our opponent folds. So in the above example -0.37bb + x*(6bb) = 0, solving for x = 6%. So in this example if the villain folds to our turn raise more than 6% of the time our play is +EV.