Poker is a game of skill and strategy. It requires players to make calculated decisions based on the information available to them.
One of the most important concepts in poker is expected value or EV for short. In this article, we will explore how EV works in poker and how it can help you become a better player.
Expected Value (EV) is the amount of money a player can expect to win or lose on average over the long term. It takes into account all possible outcomes and their respective probabilities. In simpler terms, it is the average outcome of a situation over time.
To calculate EV, you need to multiply the probability of each outcome by its respective payoff and then add up all the results. For example, if you have a 50% chance of winning $100 and a 50% chance of losing $50, your EV would be (0.5 x $100) + (0.5 x -$50) = $25.
In poker, EV is used to determine whether a decision is profitable or not. Let’s say you are playing Texas Hold’em and you are dealt Ace-King suited (AKs).
You raise preflop and get called by one player. The flop comes out Queen-Jack-Ten with two hearts, giving you a straight draw and flush draw.
Now, you need to decide whether to bet or check. To make an informed decision, you need to consider your opponent’s range of hands, their tendencies, pot odds, implied odds, and your own hand strength.
Let’s say your opponent has a wide range that includes weaker hands like pairs below Queens and draws like flush draws. You decide to bet half pot ($50 into $100) hoping to get called by worse hands or make stronger hands fold.
Your opponent calls, and the turn brings an eight of spades which doesn’t improve your hand but doesn’t change much either. You can choose to bet again, check, or give up on the hand.
To make the best decision here, you need to consider your opponent’s range and tendencies again, pot odds, implied odds, and your own hand strength. If your opponent is likely to call with weaker hands and draws, then betting again could be profitable. If your opponent is likely to have a strong hand or fold to further aggression, then checking or giving up could be better options.
By using EV calculations in each decision you make in poker, you can increase your profitability over time. You may not win every hand or even every session, but if you consistently make profitable decisions based on EV considerations, you will be a winning player in the long run.
In summary, EV is an essential concept in poker that helps players make informed decisions based on expected outcomes. By calculating EV for each decision you make in poker and considering various factors like opponent range and tendencies, pot odds, implied odds and your own hand strength; you can increase your profitability over time. Keep practicing this concept when playing poker games and see how it improves your game!
