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brentac · Pair Joined: 22 Jul 2006 Posts: 21

What does "EV" stand for? I lurk around these boards a lot, and see it said fairly often.

The only thing I can think of is "earning varience" but I'm not sure that's right. Can someone help me out?

2 high flush · Posted: Thu Nov 30, 2006 1:07 pm Post subject:

expected value.

prolifik0119 · Posted: Thu Nov 30, 2006 1:08 pm Post subject:

Expected value. It's not a stupid question.

brentac · Pair Joined: 22 Jul 2006 Posts: 21

Thanks for anwsering. So when someone says "-ev" or "+ev" they mean the money they're likely to lose or gain on a given hand?

dmoore1998 · Posted: Thu Nov 30, 2006 4:40 pm Post subject:

That basically means profitable or unprofitable play in the long run. EV is a measure over the long run assuming that situation occurs over and over. Like calling people down with A-high. It might be profitable in one hand that you just played, but overall it's a -EV play.

Jobe Gilchrist · Posted: Thu Nov 30, 2006 4:41 pm Post subject:

It's basically the money you'd lose or gain on average, each time that situation occurred. If you agree to pay me $3 every time I guess the flip of a coin, and I give you $1 each time I guess wrong, I could win $3 or lose $1 for any individual flip. However, every single time I flip the coin, I stand to gain an average of $1, which is (50% * $3) + (50% * -1). That's EV.

brentac · Pair Joined: 22 Jul 2006 Posts: 21

cool. thanks.

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