Expectation, expected value, EV

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In poker, expectation or the expected value is often referred to as the profitability that a player may earn in the long run. The expected value is calculated based on a mathematical equation that considers all possible outcomes of a bet on a particular hand. The expected value is calculated by adding up the results of the following.

Multiplying the amount that has been bet (or which can be lost) with the odds of losing and the amount in the pot (or the amount which can be won) multiplied with the odds of winning.

The sum total of the above two figures is said to be the expected value of the pot that a player can hope to earn in the long run.

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