Poker EV Calculator
Calculate expected value (EV) of poker calls and bets from pot size, equity, and bet amounts for cash game decisions.
What Is Expected Value in Poker?
Expected value (EV) is the average profit or loss you can expect from a poker decision over many similar situations. A positive EV means the play is profitable in the long run; a negative EV means you should fold or avoid the spot.
Poker EV Formula
$$EV = \text{equity} \times \text{pot} - (1 - \text{equity}) \times \text{bet}$$Equity is your chance to win as a decimal (40% = 0.40). The pot is what you win if you take the hand. The bet is what you risk by calling. Example: 40% equity in a $100 pot with a $20 call gives \(EV = 0.40 \times 100 - 0.60 \times 20 = +\$28\).
Related tools: Poker Odds Calculator.
Frequently Asked Questions
What does positive EV mean?
A positive EV means the play earns money on average over many repetitions. You should make +EV plays consistently to be a winning player.
How is equity different from EV?
Equity is your win probability. EV converts that probability into dollars by weighing what you win against what you lose.
Should I always call with positive EV?
Not necessarily. Bankroll, variance, and table dynamics matter. But over the long run, +EV calls are correct.
Can EV be negative?
Yes. A negative EV means you lose money on average. Folding is often correct when your equity is below the required threshold.
Does this work for tournaments?
The same EV math applies, but ICM and payout structures add complexity in tournament play.
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