Equity
Equity is the expected share of the pot across possible opponent holdings and remaining runouts. It includes full shares from wins and partial shares from ties.
What you will be able to do
- Define equity as expected pot share over outcomes.
- Distinguish hand-versus-hand from hand-versus-range equity.
- Include tie shares instead of treating equity as win percentage only.
START WITH THE MEANING
Equity is your average share of the pot
Imagine the betting stops and we deal every possible remaining card many times. You receive the whole pot when you win, a share when you tie, and nothing when you lose. Your average share is your equity.
Eight cards are known, leaving 44 possible rivers. KK overtakes AA only on the two remaining kings, so Hero wins on 42 of 44 rivers.
Hand versus hand
When both hands are known, we can count the remaining runouts.
Hand versus range
In a real hand, Villain’s exact cards are hidden. We combine the plausible hands and their weights.
Ties still earn a share
If the board is A-K-Q-J-T, both players use the board and normally split the pot equally.
ONE THING TO REMEMBER
Equity is not “chance to hit an out.” You may already be ahead, may tie, or may improve and still lose.
TRY IT
This is a 2-question test. Start when you are ready.