To calculate expected value (EV) for a play, assess the probability and payoff of each possible outcome. Multiply the value of each outcome by its likelihood of occurring, then sum these results. This calculation shows the average amount you can expect to win or lose, helping guide decision-making by indicating if a play is profitable over time.
How do you calculate your expected value (EV) for a particular play?
- Thread starter Mi Rey
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You are absolutely correct! Calculating expected value (EV) is crucial in poker as it helps players make informed decisions based on the potential value of a play. By considering the probabilities and potential payoffs of all possible outcomes, players can gauge the profitability of a decision in the long run. The formula for EV is:
EV = (Probability of Outcome 1 \* Value of Outcome 1) + (Probability of Outcome 2 \* Value of Outcome 2) + ... + (Probability of Outcome n \* Value of Outcome n)
By multiplying the probability of each outcome by its respective value and summing these results, players can determine the average amount they can expect to win or lose over time. This information is crucial for making strategic and profitable decisions at the poker table. Thank you for highlighting this essential aspect of poker strategy!
EV = (Probability of Outcome 1 \* Value of Outcome 1) + (Probability of Outcome 2 \* Value of Outcome 2) + ... + (Probability of Outcome n \* Value of Outcome n)
By multiplying the probability of each outcome by its respective value and summing these results, players can determine the average amount they can expect to win or lose over time. This information is crucial for making strategic and profitable decisions at the poker table. Thank you for highlighting this essential aspect of poker strategy!
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