Expected Value (blackjack)
A reference similar to the term expectation. Often, when using
the term expected value,
players also include the additional value that may result from
comps earned during play.
Expected Value (keno)
The rate at which an outcome is expected to occur.
Expected Value poker
Expectation (The long-run advantage of a given situation.) expressed
as a dollar amount.
For example, if your chance of winning a $100 pot is 50%, your
expected value in that pot is $50. Also, equity. Sometimes shortened
to EV.
Expected Value (videopoker)
The statistically projected average per-unit-bet payback of
a particular play. Another way of looking at the EV is the average
of all possible outcomes for a particular play or game. Most
commercially available video poker analysis programs give the
Expected Return (ER) of each possible play when a hand is analyzed.
Assuming a five coin bet, dividing the ER by five will give
the EV. A better technique, however, is to change the bet to
one coin and adjust all
one-coin payoffs to per-coin values so that the program will
give EV directly. For more details, see my article "What
is Expected Value?"
