Re: equity
You can think of equity as the percentage of the time that you will win the pot when showndown. For instance, if it is headsup and you have AA to your opponents TT, you can expect to win the pot about 80% of the time. 80% is your pot equity.
If, say, you are holding the nut flush draw on the flop with 4 opponents, your equity will be approximately 33%. Your opponents' equity is 67%. You will win the pot 1/3 of the time. It is generally advantageous to bet or raise when you hold an equity edge. If your opponents are passive players and all call your bet, they each contribute 20% of the money going into the pot. Since 33% of the money is effectively yours, bet/raising is +EV.
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