Whenever players are ahead in a hand, they think that its their right to win. After a session, theyll often report their results as follows: I was down $200, but I really should be up $500 because of the bad beats I took. Unfortunately, this thinking is misleading, because it fails to take into account the very real probability of losing the hand. Remember, poker is a game of giving yourself in edges, and very rarely are those edges absolutes. (But as long as you are actually giving yourself edges, you will come out ahead in the proverbial long-run)
What is Pot Equity?
Pot equity is the percentage of the pot you expect to win in the long run. If you subtract your investment in a pot from your pot equity, then pot equity becomes just another way of expressing expected value. But having many ways of thinking about expected value is helpful both for understanding it and calculating it easily.
Suppose youre playing in a no-limit holdem game with blinds of $1 and $2. One opponent limps, you raise to $10 with AA, and someone behind you goes all-in to $50. The blinds fold as well as the initial preflop limper. You call, and you find that your A? A? is facing K?...
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