Equity — Poker Term Explained

Poker equity is your expected share of the pot over all possible remaining runouts against specified hands or ranges, counting ties as a share rather than a full win. It is not a guarantee of a payout. Illustrative: in a heads-up pot with 60% equity and 200 chips, your gross expected share is 120 chips before future bets and rake. A draw-completion probability is different: making a flush does not necessarily win against a full house, and a missed draw can still win with another holding.

Separate showdown equity from expected value (EV) and equity realisation. A calculator assumes particular opposing ranges and future cards; actual decisions also depend on call cost, future bets, position, stacks and rake. For an illustrative heads-up all-in call, if the pot is 100 chips before your call and calling costs 50, the final pot is 150 and break-even equity is 50/150, or one third, ignoring rake. This simple threshold does not fully describe non-all-in or multiway decisions.

Do not label the chance of completing a draw as your equity against an opponent. Include ties, opponent ranges and possible losing completed draws. Do not describe your gross share of the pot as net profit: the price of continuing and future costs still matter.

• Illustrative: 60% equity in a 200-chip pot gives a 120-chip gross expected share
• Illustrative all-in call: 50 into a pot of 100 needs 50/150 = one-third equity, before rake
• Nine unseen outs with 47 unseen cards: 1 − (38/47 × 37/46) ≈ 35.0% chance to hit by the river
• Draw completion and equity against a range are different quantities

A♠A♥ מול K♣K♦ טרום פלופ ≈ 81/19 לטובת AA.