Re: Folding equity
Another simple example of fold equity is what is a bet worth purely based on the chance someone will fold. Let us say I am playing $1/$2 limit and on the river I have a busted draw. The pot has $20 in it. Will my opponent fold more then 1 in 10 times? If he will, then my bet(bluff) on the river has value because of the fold equity. If he will fold 1 in 5 times, I will win $20 once and lose $2 4 times for a net gain of $12, making my $2 bet worth $2.40 in profit.
A NL example would be when I am pretty sure that preflop my opponent has a pocket pair. I have AK. If he has a pair below KK I am a coinflip but if I raise I may get a smaller pair to fold. So the value of my hand is 50% of the pot, but my raise may have "fold equity" because he will fold a certain amount of the time. This is very situation dependent and the math is subjective. If I only am able to raise him half what he bet, the fold equity is pretty much 0 because he is not folding. If he is a new player (or just a loose one), he is not folding any pair above 5's. However, if I have a deep stack, my opponent is tight and weak and I have a tight image myself, my fold equity may be huge.
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