EV

Jonny1723 · #1 10-26-2004, 10:23 AM

Hello,

I am reading these forums, and keep seeing things like +EV etc.

Can someone please explain what it means and how it is defined.

Thank you.

Jonny.

CWsports · #2 10-26-2004, 10:27 AM

EV = expected value - the profit (or loss) of any bet in the long run

btspider · #3 10-26-2004, 10:29 AM

EV = expected value

at any given point, you have 3 decisions:
call (checking is calling 0 bets)
raise (betting is raising 0 bets to you)
fold

EV is determined for the expected value of choosing one of these three options, ignoring your previous actions.

Folding always has an EV of 0 no matter how much you put into the pot already. if calling and raising are both -EV, then you should fold. otherwise you should choose the option which should give you the most value.

its a bit more complicated than that. concepts such as slowplaying, not embarassing a poor player heads-up with fancy plays like river check-raises, or making the occasional loose call are immediately -EV (relative to your other option), but are long term +EV when considering the next betting round, the next game, or even your next session.

CWsports · #4 10-26-2004, 10:31 AM

To elaborate....let's say you flipped a coin 100 times. You would expect heads 50 times and tails 50 times. If you paid your buddy $1 every time heads came up and he paid you $2 every time tails came up then you would expect to win $50 over 100 flips. Your EV is 50 cents per flip as you can expect to win 50 cents, in the long run, each time the coin is flipped.