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?"