### Games Definitions 1,057 > E 32

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### equity

• Your "rightful" share of a pot. If the pot contains \$80, and you have a 50% chance of winning it, you have \$40 equity in the pot. This term is somewhat fanciful since you will either win \$80 or \$0, but it gives you an idea of how much you can "expect" to win.

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### Expectation

• (1) The amount you expect to gain on average if you make a certain play. For instance, suppose you put \$10 into a \$50 pot to draw at a hand that you will make 25% of the time, and it will win every time you make it. Three out of four times, you do not make your draw, and lose \$10 each time for a total of \$30. The fourth time, you will make your draw, winning \$50. Your total gain over those four average hands is \$50-\$30 = \$20, an average of \$5 per hand. Thus calling the \$10 has a positive expectation of \$5. (2) The amount you expect to make at the poker table in a specific time period. Suppose in 100 hours of play, you win \$527. Then your expectation is \$5.27/hr. Of course, you won't make that exact amount each hour (and some hours you will lose), but it's one measure of your anticipated earnings.

• Browse Related Terms: Come Hand, Draw, Draw Dead, equity, Expectation, FAST, Favorite, Fold, Free Card, Implied Odds, Pot Odds, Price, Rock, Tilt, Value, variance

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