Can someone explain what EV means?

[watchinyoufold]

What does the term Ev mean? and can someone give an example or concept where ev would be used.

Also, another newb question...how do you build a bank roll?

[urbansprawler]

EV = Expected Value.

For every action dependent on probablity (P), there is a % of it happening it. So if we flip a coin for $1 a wager now there is $2 wagered and my chance of hitting is 50%.

$2P-$1=EV
$2(50%)-$1=0

Thus, you will breakeven.

For every action in probability, there will be 1 or more possible outcomes.

EV = the mean of all possible outcomes.

Let's say we flip that coin 200 times. Our EV is 0, yet it is feasible someone wins all $200. So, while there are many outcomes, EV is just the mean of these.

[chinz]

More simply put, we put our money in AA vs KK (82%-18%), so our expected value is 82% of whatever the pot is, regardless of the outcome.

Also, another newb question...how do you build a bank roll?

By winning.

[couriermike]

Play with pokerstove, too.