Expected Value (EV)
期望值（EV）
Expected Value (EV) is the mathematical average result of a decision if it were repeated infinitely. A +EV play is profitable over time, while a -EV play loses money over time. Calculating EV involves multiplying each possible outcome by its probability and summing the results. Every decision in poker should be evaluated based on its EV.
Example
If you have a 40% chance to win a $200 pot and must call a $50 bet: EV = (0.4 × $200) - (0.6 × $50) = +$50.
Related Terms
More Math & Odds Terms
Equity
Your share of the pot based on the probability of winning the hand.
Pot Odds
The ratio of the current pot size to the cost of a contemplated call.
Outs
Cards that will improve your hand to a likely winner.
Implied Odds
Pot odds adjusted for the additional money you expect to win on future streets.
Fold Equity
The probability that your opponent will fold to your bet or raise.
SPR (Stack-to-Pot Ratio)
The ratio of the effective stack size to the current pot size.