Expected Value (EV)

In poker, "Expected Value" (EV) is a concept used to measure the profitability of decisions over the long run. It's a statistical measure of the average amount a certain play will win or lose.

What is Expected Value in Poker?

In poker, Expected Value (often abbreviated as EV) is a fundamental concept used to evaluate the potential profitability of decisions over the long run. This term is relevant across all poker variants, including Texas Hold'em, Omaha, and others, and applies to both cash games and tournaments.

Expected Value isn't about individual results or hands; instead, it's a statistical measure of how much a player can expect to win or lose on average over time if they made the same decision in the same situation repeatedly.

Examples of Expected Value in Poker

Here are some scenarios to illustrate the concept of Expected Value in poker:
In a Texas Hold'em game, you have the opportunity to call a $20 bet to win a $100 pot. If you believe your chances of winning the hand are greater than 20%, your call has a positive expected value.

In an Omaha tournament, you're facing a large all-in bet. If you believe your hand is a significant underdog against your opponent's range of hands, calling the bet would have a negative expected value.

• "By calculating the expected value, she realized that calling the bet would be profitable in the long run."
• "Despite losing the hand, his decision to call had a positive expected value and was the correct play statistically."
• "Understanding expected value is key to making profitable decisions in poker."

Expected Value in Poker FAQs