EV

EV stands for Expected Value. It's a fundamental concept in poker and probability theory. Here's a breakdown of what EV means in poker:

1. Definition:EV is the average amount of money you expect to win (or lose) on a particular bet or play if it were to be made many times over the long run.
2. Calculation:EV = (Probability of Winning * Amount Won) - (Probability of Losing * Amount Lost)
3. Positive vs. Negative EV:
   • Positive EV (+EV): A play that is expected to be profitable in the long run.
   • Negative EV (-EV): A play that is expected to lose money in the long run.
4. Usage in Poker:
   • EV helps players make mathematically sound decisions.
   • It's used to evaluate the profitability of different actions (calling, folding, raising).
   • EV calculations consider both immediate pot odds and future betting rounds.
5. Example:If you have a 25% chance of winning a $100 pot and it costs $20 to call, your EV is:EV = (0.25 * $100) - (0.75 * $20) = $25 - $15 = $10
   This is a +EV play, as you're expected to profit $10 on average.
6. Importance:
   • EV thinking helps separate emotional decision-making from logical, profitable play.
   • It's crucial for long-term success in poker.
7. Limitations:
   • EV calculations often rely on estimated probabilities.
   • Short-term results can vary significantly from EV due to variance.

Understanding and applying EV concepts is a key skill for advanced poker players. It helps in making optimal decisions across various situations in both cash games and tournaments.

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