Poker is a game of strategy and skill, and one of the most important concepts in poker is EV or Expected Value. In this tutorial, we will dive deep into what EV means in poker and how it can help you become a better player.
What is EV?
EV or Expected Value is a mathematical concept that refers to the average amount of money a player can expect to win or lose in the long run. In poker, every decision you make has an expected value attached to it. This value is determined by calculating the probability of winning and losing along with the amount of money at stake.
When you make a decision in poker, whether it’s calling, raising or folding, you are essentially making an investment. Your investment could yield a positive return if you make the right decision, or it could result in a negative return if your decision turns out to be wrong.
How to Calculate EV
To calculate EV in poker, you need to consider two factors – probability and payout. The probability factor takes into account the likelihood of winning or losing a hand while the payout factor considers the amount of money at stake.
For instance, let’s say you are playing Texas Hold’em and have been dealt pocket Aces. There are three other players at the table with varying chip stacks. You decide to raise pre-flop and one player calls.
The flop comes 7-8-9 with two clubs. You hold one club in your hand while your opponent has two clubs in his hand. You decide to bet half pot on the flop and your opponent calls.
The turn brings another club which means there are now three clubs on board. You decide to bet again but this time your bet size is smaller than before. Your opponent raises all-in and you have to decide whether to call or fold.
To calculate EV in this situation, you need to consider the probability factor which includes:
– The chance of your opponent having a flush
– The possibility of you hitting a full house or quads
– The chance of your opponent bluffing
Once you have considered the probability factor, you need to calculate the payout factor which includes:
– The amount of money in the pot
– Your opponent’s chip stack size
– Your own chip stack size
After taking both these factors into consideration, you can calculate the expected value of your decision. If the EV is positive, it means that calling is a profitable decision in the long run. If it’s negative, folding would be the right choice.
Why is EV Important?
Understanding EV is crucial for any serious poker player. It helps you make informed decisions and avoid making mistakes that could cost you money in the long run.
By calculating EV, you can determine whether a particular decision is profitable or not. For instance, if a player bets half pot on the turn and you have a flush draw, calculating EV can help you decide whether to call or fold.
Moreover, understanding EV can help you develop a solid poker strategy. You can use it to analyze your opponents’ decisions and determine their playing style. This information can then be used to exploit their weaknesses and make profitable decisions.
Conclusion
In conclusion, EV is a crucial concept in poker that every player should understand. By calculating expected value for every decision made at the table, players can make informed choices and increase their chances of winning.
Remember, poker is not just about luck but also about skill. By mastering concepts like EV, players can tilt the odds in their favor and become successful over time.
