What is Fold-Equity?

I've seen some posts that mention this, but none that explain it.

What is fold-equity?

Since I totally lack in teaching skills but am quite good at googling and reading, here you go.
http://en.wikipedia.org/wiki/Fold_equity

We also have an articles section (one of the pages at the top right of the webpage) which help explain FE among tons of other things.

I too have struggled with the concept, but mainly because it uses the word 'equity'.

When I now consider the concept, I think that it is the likelihood I can bet off a villain versus what it might cost me if I'm wrong. I determine the likelihood via reads, PT stats (both his, and what I have been showing him in this game or for the last 20-30 hands), position, stacks, and what hand I hold.

I am primarily a tourney player, and IMO the concept in tourneys is maybe not as important as it is in ring, at least in the early/middle part of the tourneys (largely because of the constant table shifting, with new personnel at the tables). Toward the end, already ITM, ring style play becomes much more prevalent in most tourneys. But a big part of that is that often, in late stage tourneys, I, and possibly my villains, have stats accumulated thru the present game that give more info about the players. So for example, even in late stage play, I might not consider a Fold Equity situation the same if I just moved to a new table with few stats on the players.

Perhaps my discomfort with the word fold 'Equity' is that it sort of comes down to how likely am I to pull off a bluff, semi-bluff, or value bet and get my villain(s) to fold. So maybe it is just a meter or gauge (just like on your dashboard) that tells me something useful. Maybe 'Value Meter' would be a decent name for the concept. Except that Fold Equity seems to be dealing specifically with the likelihood that you can get your villain to bow out of a hand.

How much do you have to gain by folding? Is your fold worth more than your win if you are wrong?

It's basically opportunity cost.

This is incorrect, fold equity refers to the possibility your opponent will fold, not you.

Please refer to the articles that have been cited above.

http://en.wikipedia.org/wiki/Fold_equity

Here you have a great definition of the term. Its all about how much your opponent will find, likelyhood etc

Fold equity is the only way I make money, lol. My showdown winnings are exactly $0.00 right now lifetime.

It is all to do with how much you will save by not betting in relation to how much you can win or lose by betting on the hand. It is getting to the pretty advanced stage and to be honest I would not worry about it too much at the level most of us play. Master the outs and odds and you will do fine without worrying too much about Fold Equity.

Lol that pretty much rounds me up too