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## E - Poker Terms

Early Position - To be one of the first few players to act at the start of the hand. See positions at the table.

Eight or Better - In high-low games a qualifier where your hand cannot have a higher card than an eight to contest for the low pot. Ace counts low when used for the low hand in these games. See also rules.

Equity - A player's expected share of the pot. For example, if the pot is \$50, and you have a 20% chance of winning, your equity is \$10. This is calculated by multiplying the pot size by your probability of winning. In the above example, it is 20% (1/5) * \$50 = \$10. If a split is possible that needs to be taken into acount too for an accurate figure. For a possible split you add the probability of splitting multiplied by the amount you would win if you split to the total. See also fold equity or tournament equity.

Expectation, Expected Value, EV -
1. The amount you expect to gain or lose on average for a certain action. This can either be expressed as a number (1 = break even, < 1 = negative EV or > 1 = positive EV) or as profit. For example, you have 15 outs on the turn to win the hand and have to call a bet of \$40 into a pot of \$140. The probability of you winning the hand is 15/46 (outs / cards remaining in the deck) and the pot-odds (140 + 40) / 40 = 4.5. Now you multilply these. 15/46 * 4.5 = 1.47 (2dp). So your expected value is 1.47 meaning you get an average of 147% return or \$58.80, hence your expected profit would be \$18.80.
2.Can also mean the average outcome of anything. For example, your expected return on a tournament, period of time playing, against a certain opponent etc.

Exposed Card - A card whose face has been deliberately or accidentally revealed to players. Various games have different rules about how to handle this. See also boxed card.

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