Fold equity

[Cactus Jack]

Could someone define and explain the concept? I think I may have it, intuitively, but not mathmatically.

(I could post this to 2+2, but I've lost my secret decoder ring.)


CJ

[starstealer]

I don't know that I'll be able to explain this effectively - but its a fundamental concept - so everyone should get a grasp on it (so if I don't have it - I need to know now...)

In any case fold equity is the equity of the pot you get from all of your opponents folding. For instance, you have a 50% chance of winning the hand with your best hand if it is checked down. If you bet, you still have the 50% chance of winning, but you also now have "Folding equity" - perhaps a 30% chance that all of your opponents will fold to a bet and you'll take the pot that way.

Folding equity really is an inexact science. I generally use it to justify a bet or raise in certain circumstances when I'm already most of the way with pot odds. If I've got horrible pot odds - it is unlikely that any amount of folding equity would make it worthwhile.

An example:

You have AKo and raised preflop as the first player in. You get two callers and the flop is 23J rainbow. You make a bet and are called once - at this point the pot is 7.5 small bets (or 3.25 big bets). On the turn you get a queen. At this point, you might suspect (and you'd probably be right) that you do not have the better hand - but that you are not drawing dead either. If you check, it is unlikely that you'd have the pot odds to make the call. However, if you bet (staying on the aggressive) - you have some fold equity. While your hand cannot call a bet safely - it can bet still and perhaps knock your opponent off of his hand.

Hope that helps

/d

[Nashvegas]