This is a discussion on UNDERSTANDING FOLD EQUITY  and using it correctly within the online poker forums, in the Learning Poker section; Let's say, you have a straight draw on the flop and there is 1000 in the pot. You are in position and the opponent bets 


#1




UNDERSTANDING FOLD EQUITY  and using it correctly
Let's say, you have a straight draw on the flop and there is 1000 in the pot. You are in position and the opponent bets 500 to you. So, with eight outs you have approx 32% chance to win it which gives you 1:3 ratio on winning the hand. At this moment if you call, you have to put 500 in the pot to win 2000 giving you 1:4 ratio on risk versus reward. Hence making it a profitable call as you have a better outcome if you win compared to how much you put in. You know what makes it even more profitable? Fold equity. What is Fold Equity? Let's say we have 50% chance of winning or losing any hand that we play against a single opponent and at the same time the opponent has 50% chance of winning it too. In the same scenario, you have 32% chance of winning the hand and assuming the opponent has the rest will be an intelligent assumption. Let's say when you reraise the already 1500 chip pot to another 1500 to play, you are giving your opponent the option to fold and hence 25% of his 50% share shift to your side of equation giving you 57% in total and hence improving your chances to win it. This extra leverage that you get when shifting your pressure on him and giving him the option to fold comes to your advantage in the long run and the money earned thus is called Fold equity.

#2




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First, I don't like describing 32% as a 1:3 ratio. This is confusing in poker terms. The actual card odds ratio is 32%:68%, or basically 1:2. Which means you need at least 1:2 on your money to make a profitable call. This is your "card odds." If the pot is 1000, and your opponent bets 500, then you need to call 500 to see 1500. That's 1:3. That's your "pot odds". Mind you, that's 1:3 to hit your draw *by the river*... Now as for "fold equity" that's a much dicier concept and very much an inexact science. "Fold equity" is what % of the time an opponent will fold to a bet, and you measure that against their perceived range. For example let's say my opening range from UTG is AJ, AQ, AK, KQs, 99 to AA. If you 3bet, hypothetically what parts of my range do I fold? AJ (16), KQs (4), 99, TT, (12)  32 combos. What don't I fold? AQ (16), AK (16), JJ, QQ, KK, AA (24)  56 combos. So of 88 combinations, I fold 32. Your fold equity in this situation is 36%. In other words, 2/3rds of the time you're not getting a fold from a typical UTG raiser. However, bearing in mind that you 3bet preflop and depending on the board, you may have greater fold equity on the flop because of this. 
#3




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"Fold equity" is what % of the time an opponent will fold to a bet, and you measure that against their perceived range. Very important concept in poker Hopefully some CC members can help us with more definitions and examples. 
#6




An easier way of saying it is:
Fold equity is determining how likely your opponent is to fold. It's calculated by putting your opponent on a range, and determining what % of that range they will fold given the fact that you are betting, the size of the bet, and the table texture, and possibly your perceived range if your opponent is a thinking player. You can also flip this idea to figure out your value sizing when you have a made hand. 
#7




An opposite example which I think we've all seen from time to time is the low set vs. overpair scenario.
Let's say I have pocket 4s in position. I raise from the CO preflop, the small blind min 3bets. The SB is a tightish player, so I pretty regularly put him on QQ, KK, or AA. .5/1 table scenario First, if I made it $3, and opponent raises to $6, add the BB, and there's $10 in the pot. I need to call 3 to see 10, or 1:3.3 pot odds I'm only going to flop a set one in eight times, so my card odds are 1:7 Clearly, this is a hugely EV play in terms of immediate odds. But let's say the flop comes J, 7, 3. My opponent will most likely lead out, or try to be tricky and check. Either way I'm betting. Because there's very little chance that AA, KK, or QQ is folding to this board. Likewise, trying to bluff in this scenario would be absolutely insane against most players (although insane bluffs can work against some people). So understanding the likelihood of your opponent folding is (in my opinion more) important even when you aren't looking to have your opponent fold. 
#9




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Well said Weiss. I agree with your defination, very simple. I will add that to understand "Fold Equity" that people 1st need to understand how much to bet. This way, knowing the correct bet size whether on the flop, turn or river is much easier to understand, then they can move onto their opponents equity. Of course knowing that you also need to understand pot odds & Implied pot odds, which I must say at first I didn't have a clue and thought that people were using that as a cover for a bad play, bet or call, although I understand it now. Gl with discussing all that and on the felt 
#10




re: Poker & UNDERSTANDING FOLD EQUITY  and using it correctly
Here's a quick video of me being a jackass. But around 6min I open 2 3 off from the button. It's a fairly quick and easy example of how my opponents range, my perceived range, and fold equity all come together for an easy bluff.
https://www.youtube.com/watch?v=KsjqVCo1WbA 
#11




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Right, that's where it gets dicey  because it's not only about understanding bet sizing, but also predicting how your opponent will interpret your bet sizing. 
#14




No prob. Just bear in mind that I was playing like a maniac because "sledge hammer" style bluffing and ridiculous value plays can work on those stakes. I'll do one at .10/.25 and you'll see how much the playing changes.
