Fold Equity: what exactly is that??

I see FE (fold equity) referred to many times in these posts. I have a foggy notion as to what it is, but it is not in "super System by Doyle Brunson, nor in "PLay Poker Like a Pro" by Phil Hellmuth, nor in "The Theory of Poker" by Sklansky; (aren't i learned). lol
Seriously, a little discussion here on this would probably serve many players well. (like me)

It's how often your opponent folds a better hand. Most commonly discussed in pushing draws.

[tripp0807]

Set your copy of Hellmuth's book on fire before you lose money.

The search function works!!!

[PinkSteel]

Easiest to explain in terms of going all-in or putting your opponent all-in. You want to know if that's a +EV move. So you'll do a simple calculation, like

EV =
Percent of time opp. calls and he wins * amount of loss
+ percent of time opp. calls and I win * amount of win
+ percent of time opp. folds * amount of current pot

That % of the time your opponent folds is a critical part of the calculation for all-ins, and that's your fold equity in the hand.

As Kathleen said, some players think of it as the % of time your opponent folds a BETTER hand, but I don't think of it that way. I think of it as the last part of the "My hand wins vs. his hand wins vs. he folds so who cares" question.

Freerollin, I read the post you found for me. Perfect, . Thanks

[zaphod]

[ QUOTE ]
Set your copy of Hellmuth's book on fire before you lose money.

The search function works!!!

[/ QUOTE ]

No, that would be a waste. Give it to your opponents instead.

[tripp0807]

Glad to help. I was too lazy to write out a detailed description like PinkSteel, but his post is gold.

to elaborate then
EV = (25% x $20) + (50% x $20) + (25% x $40)=

ev = ($5) + ($10) + ($10) = $25
this last $10 is fold equity?

[GrunchCan]

linky

[4_2_it]

[ QUOTE ]
linky

[/ QUOTE ]

Grunch. Your post should be added to the FAQ. Perhaps there should be a thread for people to contribute ideas/additions to the FAQ. I think Fim's "When it's time to move up" post is worthy of FAQ treatment.