{"id":15421,"date":"2024-02-24T05:56:45","date_gmt":"2024-02-24T10:56:45","guid":{"rendered":"https:\/\/casino.borgataonline.com\/en\/blog\/?p=15421"},"modified":"2025-05-30T11:34:37","modified_gmt":"2025-05-30T15:34:37","slug":"poker-equity-expected-value-difference","status":"publish","type":"post","link":"https:\/\/www.borgataonline.com\/en\/blog\/poker-equity-expected-value-difference\/","title":{"rendered":"The Difference Between Equity & Expected Value in Poker"},"content":{"rendered":"\n
\"Small<\/figure>\n\n\n\n

The language of poker involves many terms. Players use words like \u201cmuck\u201d in place of fold and \u201cshove\u201d for all-ins. Such slang words are a breeze for beginners to learn, but \u201cequity\u201d and \u201cexpected value\u201d (EV) are a little more complex.<\/p>\n\n\n\n

These two concepts, which apply to both live and online poker<\/strong><\/a>, are crucial to understand as they\u2019ll inform the decisions you make during a game. Read on to learn about the definition of both terms, their relationship, and how to use these concepts.<\/p>\n\n\n\n

Equity Defined<\/strong><\/h2>\n\n\n\n

Before comparing EV to equity value, it\u2019s best to define both terms clearly, starting with the latter. So, what is poker equity<\/strong><\/a>? <\/p>\n\n\n\n

You might have heard this term used for real estate, but poker players have equity, too. In Texas hold\u2019em, Omaha, and any other variants, your hand always has a certain amount of equity. Equity is a percentage that shows you how often you can expect to win from this particular spot.<\/p>\n\n\n\n

If you have 60% equity, that means you will win 60% of the time, on average. If you played a million hands from this exact situation, you\u2019d reasonably expect to win 600,000 of them. It also means that 60% of the pot \u201cbelongs\u201d to you, as it were.<\/p>\n\n\n\n

People also like to talk about fold equity. This is the same sort of concept, except it illustrates the percentage of the time you can expect opponents to fold. <\/p>\n\n\n\n

Equity Example<\/strong><\/h3>\n\n\n\n

You have 10\u2665 10\u2660 and your friend has A\u2665 A\u2660. The board is 10\u2666 K\u2663 3\u2665.<\/p>\n\n\n\n

Your equity is 89.49%, so you\u2019ll win the hand 89.49% of the time. With no draw and just two aces to hit, your opponent is crushed. Their equity is just 10.51%, meaning they\u2019ll win just 10.51% of the time from this situation.<\/p>\n\n\n\n

Preflop, however, your friend was in an extremely high equity poker spot. Their pocket aces were set to win 81.19% of the time, while you had just 18.36% equity. The remaining 0.46% represents the chance of a split pot.<\/p>\n\n\n\n

Expected Value Defined<\/strong><\/h2>\n\n\n\n
\"A<\/figure>\n\n\n\n

With EV in poker, you can work out how profitable each decision will be. As such, this is always going to be a monetary value rather than a percentage. The standard expected value poker notation would be U.S. dollars ($).<\/p>\n\n\n\n

You can arrive at either a positive or negative number when calculating the expected value of a play. For example, calling in one spot might be -EV, while raising is +EV. <\/p>\n\n\n\n

Not only does EV show positivity or negativity, but also the full extent of both. An EV of +$10 is obviously a lot more profitable than an EV of $1.50, for example.<\/p>\n\n\n\n

EV Example<\/strong><\/h3>\n\n\n\n

Your hand is A\u2660 5\u2660 and the board shows J\u2660 K\u2665 3\u2660 8\u2666. The pot is $100 right now, but your opponent moves all in for $50. You\u2019d have to call a bet of $50 to potentially win $150.<\/p>\n\n\n\n

You can safely assume that your opponent has better than a pair, so you\u2019ll need to hit the flush to be ahead. The chances of doing so are 20% with one card to come, or 0.2 in decimals. That leaves an 80% chance, or 0.8, of missing the flush.<\/p>\n\n\n\n

Here\u2019s how you work out expected winnings or losses for making this call:<\/p>\n\n\n\n

EV<\/strong> = hit flush + miss flush<\/p>\n\n\n\n

EV<\/strong> = ($150 x 0.2) + (-$50 x 0.8)<\/p>\n\n\n\n

EV <\/strong>= ($30) + (-$40)<\/p>\n\n\n\n

EV<\/strong> = -$10<\/p>\n\n\n\n

The -$10 means that making this call would cost you $10 on average. Yes, you might hit the flush and win the pot this time. But if you played the exact same situation out an infinite number of times, you\u2019d lose money in the long run.<\/p>\n\n\n\n

So, you can easily see how using EV to play poker online could make your gameplay more profitable.<\/p>\n\n\n\n

How Equity and Expected Value Are Connected<\/strong><\/h2>\n\n\n\n

These two terms refer to completely different poker concepts, but there is a relationship between them. You must know your equity, or at least make a guess about it, to calculate EV. You need to use both the equity value and the potential profit and loss to calculate the exact EV.<\/p>\n\n\n\n

Expected value can be thought of as a more advanced version of equity. When you calculate EV, you\u2019ll have a more comprehensive figure to work with. That\u2019s not to say that equity isn\u2019t useful, but it\u2019s a metric that only focuses on singular pots. <\/p>\n\n\n\n

The Difference Between the Two<\/strong><\/h3>\n\n\n\n

The terms might be muddled together by some players, but they don\u2019t have to be. Equity is shown in percentages, while expected value is shown as a monetary value.<\/p>\n\n\n\n

Equity is mainly used to gauge the chances of winning a hand, while the expected value gauges the profitability of your actions. In addition, equity gives information about a single hand, while EV calculations should be thought of as measurements of an action\u2019s long-term profitability.<\/p>\n\n\n\n

How Are Equity and Expected Value Used in Poker?<\/strong><\/h2>\n\n\n\n
\"A<\/figure>\n\n\n\n

In poker online games, you should always be looking to maximize both your equity and your EV. Higher equity means you\u2019ve got a better chance of winning, while higher EV means you\u2019re making smarter poker decisions. <\/p>\n\n\n\n

Using Equity<\/strong><\/h3>\n\n\n\n

You can use the basic principle of equity to weigh up your chances of a win or loss against certain hands. This can be helpful information when you\u2019re value betting, bluffing, or just trying to figure out your chances of winning. <\/p>\n\n\n\n

Exactly how equity affects poker<\/strong><\/a> decisions is easier for beginners to grasp. But it\u2019s impossible to find out the exact equity until you get to a showdown. Often, you\u2019ll have to work with approximate values when studying hand histories.\u00a0<\/p>\n\n\n\n

Using EV<\/strong><\/h3>\n\n\n\n

By understanding exactly how much money can be won and lost from any spot, during cash games or poker tournaments<\/strong><\/a> alike, you can play optimally. <\/p>\n\n\n\n

Players should always strive to make +EV plays wherever possible. That said, even a -EV action could make sense against the right opponent. Some actions will be profitable in one-off situations, despite being -EV.<\/p>\n\n\n\n

Apply Your Knowledge at Borgata Online<\/strong><\/h2>\n\n\n\n

Playing poker online and reviewing your hands will help you wrap your head around equity and EV. After you\u2019ve played a session online, revisit the hand histories. Try to calculate your equity, then look at your exact EV in certain situations. The results might surprise you.If you\u2019re ready to get started, register<\/strong><\/a> and play at Borgata Online. Not only will you pick up a welcome bonus with your first deposit, but you\u2019ll also join one of the most trusted brands in the poker world.<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":15424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[38],"tags":[],"class_list":["post-15421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-poker","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"acf":[],"yoast_head":"\nDifference Between Equity & EV in Poker - Borgata Online<\/title>\n<meta name=\"description\" content=\"Equity and expected value are important poker concepts, but they\u2019re often confused by players. 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