Fold Equity
Fold equity is the extra value you get from a bet or raise because your opponent may fold. Part of your profit comes from the chance that they give up the pot, even if your hand is not the best.
The simple explanation
When you bet, you have two ways to win: your opponent folds, or you have the better hand at showdown. Fold equity is the first of the two. For instance, if a bet is likely to make your opponent fold a third of the time, then a third of the time you win the pot immediately, and that is worth money even when your hand is weak.
A closer look
Fold equity is not a single number: it depends on the opponent, the board and the size of the bet. It is what makes semi-bluffs profitable, since a draw with fold equity can win in two ways. It also explains why short-stack all-ins work: with fewer chips behind, the opponent has to call a big share of their stack, and many hands fold. Against opponents who never fold, you have no fold equity, so you should bet only when you have a real hand.
A practical example
The pot is 100 and you bet 70 with a flush draw. If your opponent folds 40 percent of the time, you win 100 chips right away in those cases, and you still have your draw when they call.
Full explanation
Fold equity is the extra value you get from a bet or raise because your opponent may fold. Part of your profit comes from the chance that they give up the pot, even if your hand is not the best.
Fold equity is the extra share of the pot that you can expect from a bet because the opponent may fold. It is part of why bluffing can make money.
It does not exist against a player who always calls. Against a player who folds too often, it is very large.
Draws gain from fold equity, since they can win by making the opponent fold, and also by catching the card they need.
A larger bet usually creates more fold equity, but it also risks more chips.
A bet can win by making a better hand fold
No-limit Hold’em · Blinds 1/2 chips · No rake
A has jack high; B’s queen-high hand is currently better.
Read the full hand transcript
Player A has the button (BTN) and posts the 1-chip small blind (SB). Player B posts the 2-chip big blind (BB).
- Flop · Pot: 12 chips
A has jack high; B’s queen-high hand is currently better.
Board: AAce of hearts (Ah)88 of spades (8s)22 of clubs (2c)
- Player A BTN / SB JJack of clubs (Jc)1010 of diamonds (Td) · Stack 194 · In this round 0
- Player B BB QQueen of clubs (Qc)99 of diamonds (9d) · Stack 194 · In this round 0
- Flop · Pot: 12 chips
B checks.
Board: AAce of hearts (Ah)88 of spades (8s)22 of clubs (2c)
- Player A BTN / SB JJack of clubs (Jc)1010 of diamonds (Td) · Stack 194 · In this round 0
- Player B BB QQueen of clubs (Qc)99 of diamonds (9d) · Stack 194 · In this round 0
- Flop · Pot: 18 chips
A bluffs 6 into the 12-chip pot.
Board: AAce of hearts (Ah)88 of spades (8s)22 of clubs (2c)
- Player A BTN / SB JJack of clubs (Jc)1010 of diamonds (Td) · Stack 188 · In this round 6
- Player B BB QQueen of clubs (Qc)99 of diamonds (9d) · Stack 194 · In this round 0
- Flop · Pot: 12 chips
B folds the better hand. A wins without improving because the bet induced a fold. This illustrates the fold equity component of a bluff; it does not promise that B always folds.
Board: AAce of hearts (Ah)88 of spades (8s)22 of clubs (2c)
- Player A BTN / SB JJack of clubs (Jc)1010 of diamonds (Td) · Stack 194 · In this round 0
- Player B BB QQueen of clubs (Qc)99 of diamonds (9d) · Stack 194 · In this round 0 · Folded
Cards are shown for learning; totals are displayed before pot collection.