Fold equity
The part of a bet's value that comes from the chance the opponent folds. A bet with a hand that has 30% equity but makes the opponent fold half the time is far better than the 30% suggests.
Frequently asked questions
What is fold equity in poker?
The value a bet gains from the chance that the opponent folds, as distinct from the value it gains when the hand is played to showdown. Total expected value is the combination of the two.
Why does fold equity matter so much?
Because it is the only reason aggression beats passivity with weak hands. A semi-bluff with 30% equity can be profitable where a call would not be, entirely because of the pots won when nobody continues.
When do you have no fold equity?
Against a player already all in, against a calling station, and when the pot is so large relative to the remaining bet that folding is never correct. Recognising those situations is what stops a semi-bluff becoming a donation.