Fold Equity

[woostah]

I've seen this term used in a lot of posts. Can someone give me a definition for it? Thanks.

[binions]

It is usually applied to middle/late stages of NL tourneys (MTT and SNG) when the blinds are worth stealing.

Fold equity is calculated by multiplying the % everyone will fold to your raise (usually all in) by the amount in the blinds (+ antes).

Do a google search on "Theorem Blind Stealing" and you will find a good article discussing fold equity in the context of a Sit & Go tourney.

[BasketballNYC]

Fold Equity refers to what value does a bet have because it may win the pot there. A good example is a small pocket pair pre-flop. Let us say I am playing NL hold'em and the blinds are $1-$2. I and my opponent have $100. I am in the BB and am dealt 3-3. My opponent is on the button and raises to $10 when it is folded to him. Even if I think this is a steal I am still only a coin flip. But maybe I can win the $13 right here by raising all-in.

The question is how often will he fold? If I have read him as being weak and know he will let go of a hand here, then maybe it is as high as 90%. That means that this play will make me win $13 90% of the time. Assuming he does not have a pocket pair, I will win $200 50% of the remaining 10% of the time he does call and lose $200 the other 50%.

Change the example so that we both only have $20. Now my raise all-in is guaranteed to get a call. My fold equity is very low because he really should call with most hands.

Fold Equity is very subjective. It really is just your guess about what range of hands your opponent holds and what percentage of those he is willing to lay down to a certain size bet.

Hope that cleared some things up.

Matt F.