EV question

Gar Pike · #1 10-07-2003, 04:49 PM

Hi, All

I have a question regarding the application of EV, and some confusion of the meaning.

I've read that EV is the result of enumerating all the results of the possible hands, given your holding, expressed as a positive or negative number. So, if I have a +1.3 EV, I should expect, over the long run, to get back $1.30 for each $1 that I bet? or get back $2.30? I think it's $2.30.

On the application side, I know that given a low enough EV you should fold. Does the converse hold true, given a high enough EV you should raise?

What EV is the deciding point for raising?

I know it's not a cookbook answer, but as a guideline for consideration I would like to get your opinions.

Thanks in advance...

George Rice · #2 10-07-2003, 08:43 PM

If you have an ev of +$1.30, then you expect to win $1.30 no matter how much you invest. So if you invest $1, you should get back $2.30.

You shouldn't fold with a low ev (except if you are looking to keep your fluctuations down, like when you are on short money), but with a negative ev.

You should raise if it increases your ev and your ev is positive after the raise.