Expected Value Of Poker Hands

 
Expected Value Of Poker Hands 4,8/5 9820 reviews
(Redirected from Poker Rules)

Poker Hand Rankings - Texas Holdem Starting Hands Chart. Expected value is the average number of big blinds this hand will make or lose. For example: AA from the Small Blind in a $3/$6 game will make, on average, 2.71 times the big blind, or $16.20 per hand (2.71. $6). On the other hand, 22 from the Button (D or Dealer position), will make -$0.12 EV, or -$0.72 in a $3/$6 game (6.$0.12). Your expected value on every flip is now $2.50. Let's look at the math. One outcome of the flip is it comes tails (-$5); the other outcome is heads (+$10). So 50% of the time you'll win $10 and the other 50% of the time you'll lose $5. $10 (.5) - $5 (.5) = +$2.5.

A game of Texas hold 'em in progress. 'Hold 'em' is a popular form of poker.

Poker is a family of card games that combines gambling, strategy and different skills. All poker variants involve betting as an intrinsic part of play, and determine the winner of each hand according to the combinations of players' cards, at least some of which remain hidden until the end of the hand. Poker games vary in the number of cards dealt, the number of shared or 'community' cards, the number of cards that remain hidden, and the betting procedures.

53 rows  Expected Value Chart by Position. These statistics were compiled by a major online poker room from an expected value page from their database of millions of real live hands. Positive expectation hands are indicated by black numbers while negative expectation hands are indicated by red numbers. Your goal as a poker player is to work those odds so that a given situation is more likely to end with the positive expected value result rather than the negative expected value. Understanding Expected Value. Expected value falls into three major categories – positive, neutral, and negative.

Note: The five-year requirement is reduced to two years when it is applied to a expected value poker starting hands local organization that is affiliated with and chartered by a national organization that meets the five-year requirement.The insurance pays expected value poker starting hands 2 to 1 (of the initial bet) if the dealer does have blackjack.Just as with real world slot games, when playing cyber slots, you have the potential to make dollars, but you also have the potential to loose. Expected Value EV Theory Expected Value (EV) in Poker is a very misunderstood concept. Our intention here is to explain “expected value” as simply as possible and to make you a better poker player by using expected value theory in your decision making process.

In most modern poker games the first round of betting begins with one or more of the players making some form of a forced bet (the blind or ante). In standard poker, each player bets according to the rank they believe their hand is worth as compared to the other players. The action then proceeds clockwise as each player in turn must either match (or 'call') the maximum previous bet, or fold, losing the amount bet so far and all further involvement in the hand. A player who matches a bet may also 'raise' (increase) the bet. The betting round ends when all players have either called the last bet or folded. If all but one player folds on any round, the remaining player collects the pot without being required to reveal their hand. If more than one player remains in contention after the final betting round, a showdown takes place where the hands are revealed, and the player with the winning hand takes the pot.

With the exception of initial forced bets, money is only placed into the pot voluntarily by a player who either believes the bet has positive expected value or who is trying to bluff other players for various strategic reasons. Thus, while the outcome of any particular hand significantly involves chance, the long-run expectations of the players are determined by their actions chosen on the basis of probability, psychology, and game theory.

Poker online has increased in popularity since the beginning of the 20th century and has gone from being primarily a recreational activity confined to small groups of enthusiasts to a widely popular activity, both for participants and spectators, including online, with many professional players and multimillion-dollar tournament prizes.

History[edit]

Poker was developed sometime during the early 19th century in the United States. Since those early beginnings, the game has grown to become an extremely popular pastime worldwide.

In the 1937 edition of Foster's Complete Hoyle, R. F. Foster wrote: 'the game of poker, as first played in the United States, five cards to each player from a twenty-card pack, is undoubtedly the Persian game of As-Nas.' By the 1990s some gaming historians including David Parlett started to challenge the notion that poker is a direct derivative of As-Nas. Developments in the 1970s led to poker becoming far more popular than it was before. Modern tournament play became popular in American casinos after the World Series of Poker began, in 1970.[1]

Gameplay[edit]

Examples of top poker hand categories

In casual play, the right to deal a hand typically rotates among the players and is marked by a token called a dealer button (or buck). In a casino, a house dealer handles the cards for each hand, but the button (typically a white plastic disk) is rotated clockwise among the players to indicate a nominal dealer to determine the order of betting. The cards are dealt clockwise around the poker table, one at a time.

One or more players are usually required to make forced bets, usually either an ante or a blind bet (sometimes both). The dealer shuffles the cards, the player on the chair to his or her right cuts, and the dealer deals the appropriate number of cards to the players one at a time, beginning with the player to his or her left. Cards may be dealt either face-up or face-down, depending on the variant of poker being played. After the initial deal, the first of what may be several betting rounds begins. Between rounds, the players' hands develop in some way, often by being dealt additional cards or replacing cards previously dealt. At the end of each round, all bets are gathered into the central pot.

At any time during a betting round, if one player bets, no opponents choose to call (match) the bet, and all opponents instead fold, the hand ends immediately, the bettor is awarded the pot, no cards are required to be shown, and the next hand begins. This is what makes bluffing possible. Bluffing is a primary feature of poker, one that distinguishes it from other vying games and from other games that make use of poker hand rankings.

At the end of the last betting round, if more than one player remains, there is a showdown, in which the players reveal their previously hidden cards and evaluate their hands. The player with the best hand according to the poker variant being played wins the pot. A poker hand comprises five cards; in variants where a player has more than five cards available to them, only the best five-card combination counts.

Variants[edit]

2006 WSOP Main Event table

Poker variations are played where a 'high hand' or a 'low hand' may be the best desired hand. In other words, when playing a poker variant with 'low poker' the best hand is one that contains the lowest cards (and it can get further complicated by including or not including flushes and straights etc. from 'high hand poker'). So while the 'majority' of poker game variations are played 'high hand', where the best high 'straight, flush etc.' wins, there are poker variations where the 'worst hand' wins, such as 'low ball, acey-ducey, high-lo split etc. game variations'. To summarize, there can be variations that are 'high poker', 'low poker', and 'high low split'. In the case of 'high low split' the pot is divided among the best high hand and low hand.

Poker has many variations,[2][3] all following a similar pattern of play[4] and generally using the same hand ranking hierarchy. There are four main families of variants, largely grouped by the protocol of card-dealing and betting: Wheel of fortune.

Straight
A complete hand is dealt to each player, and players bet in one round, with raising and re-raising allowed. This is the oldest poker family; the root of the game as now played was a game known as Primero, which evolved into the game three-card brag, a very popular gentleman's game around the time of the American Revolutionary War and still enjoyed in the U.K. today. Straight hands of five cards are sometimes used as a final showdown, but poker is almost always played in a more complex form to allow for additional strategy.
Stud poker
Cards are dealt in a prearranged combination of face-down and face-up rounds, or streets, with a round of betting following each. This is the next-oldest family; as poker progressed from three to five-card hands, they were often dealt one card at a time, either face-down or face-up, with a betting round between each. The most popular stud variant today, seven-card stud, deals two extra cards to each player (three face-down, four face-up) from which they must make the best possible 5-card hand.
Draw poker
A complete hand is dealt to each player, face-down, and after betting, players are allowed to attempt to change their hand (with the object of improving it) by discarding unwanted cards and being dealt new ones. Five-card draw is the most famous variation in this family.
Community card poker
Also known as 'flop poker', community card poker is a variation of stud poker. Players are dealt an incomplete hand of face-down cards, and then a number of face-up community cards are dealt to the center of the table, each of which can be used by one or more of the players to make a 5-card hand. Texas hold 'em and Omaha are two well-known variants of the community card family.

There are several methods for defining the structure of betting during a hand of poker. The three most common structures are known as 'fixed-limit', 'pot-limit', and 'no-limit'. In fixed-limit poker, betting and raising must be done by standardized amounts. For instance, if the required bet is X, an initial bettor may only bet X; if a player wishes to raise a bet, they may only raise by X. In pot-limit poker, a player may bet or raise any amount up to the size of the pot. When calculating the maximum raise allowed, all previous bets and calls, including the intending raiser's call, are first added to the pot. The raiser may then raise the previous bet by the full amount of the pot. In no-limit poker, a player may wager their entire betting stack at any point that they are allowed to make a bet. In all games, if a player does not have enough betting chips to fully match a bet, they may go 'all-in', allowing them to show down their hand for the amount of chips they have remaining.

Other games that use poker hand rankings may likewise be referred to as poker. Video poker is a single-player video game that functions much like a slot machine; most video poker machines play draw poker, where the player bets, a hand is dealt, and the player can discard and replace cards. Payout is dependent on the hand resulting after the draw and the player's initial bet.

Strip poker is a traditional poker variation where players remove clothing when they lose bets. Since it depends only on the basic mechanic of betting in rounds, strip poker can be played with any form of poker; however, it is usually based on simple variants with few betting rounds, like five card draw.

Another game with the poker name, but with a vastly different mode of play, is called Acey-Deucey or Red Dog poker. This game is more similar to Blackjack in its layout and betting; each player bets against the house, and then is dealt two cards. For the player to win, the third card dealt (after an opportunity to raise the bet) must have a value in-between the first two. Payout is based on the odds that this is possible, based on the difference in values of the first two cards. Other poker-like games played at casinos against the house include three card poker and pai gow poker.

Computer programs[edit]

A variety of computer poker players have been developed by researchers at the University of Alberta, Carnegie Mellon University, and the University of Auckland amongst others.

In a January 2015 article[5] published in Science, a group of researchers mostly from the University of Alberta announced that they 'essentially weakly solved' heads-up limit Texas Hold 'em with their development of their Cepheus poker bot. The authors claimed that Cepheus would lose at most 0.001 big blinds per game on average against its worst-case opponent, and the strategy is thus so 'close to optimal' that 'it can't be beaten with statistical significance within a lifetime of human poker playing'.[6]

See also[edit]

References[edit]

  1. ^'World Series of Poker Retrospective: Horseshoe History'. gaming.unlv.edu. Retrieved 2019-01-13.
  2. ^Richard D. Harroch, Lou Krieger. Poker for Dummies. John Wiley & Sons, 2010
  3. ^Reuben, Stewart 2001. Starting out in Poker. London: Everyman/Mind Sports. ISBN1-85744-272-5
  4. ^Sklansky, David. The Theory of Poker. Two Plus Two Pub, 1999.
  5. ^Bowling, M.; Burch, N.; Johanson, M.; Tammelin, O. (2015). 'Heads-up limit hold'em poker is solved'(PDF). Science. 347 (6218): 145–149. CiteSeerX10.1.1.697.72. doi:10.1126/science.1259433. PMID25574016.
  6. ^Computer program 'perfect at poker' (2015-01-08), BBC

External links[edit]

Wikibooks has a book on the topic of: poker
Wikiquote has quotations related to: Poker
Look up poker in Wiktionary, the free dictionary.
Wikimedia Commons has media related to Poker.
  • Poker at Curlie
Retrieved from 'https://en.wikipedia.org/w/index.php?title=Poker&oldid=935549806'

Wizard Recommends

  • €1500 Welcome Bonus
  • €100 + 300 Free Spins
  • 100% Welcome Bonus

On This Page

Introduction

The following tables display expected returns for any play in blackjack based on the following rules: dealer stands on a soft 17, an infinite deck, the player may double after a split, split up to three times except for aces, and draw only one card to split aces. Based on these rules, the player's expected value is -0.511734%.

To use this table, look up the returns for any given play, the one with the greatest return is the best play. For example suppose you have two 8's and the dealer has a 10. The return by standing is -0.5404, by hitting is -0.5398, doubling is -1.0797, and by splitting is -0.4807. So splitting 8's you stand to lose the least, 48.07 cents per original dollar bet, and is thus the best play.

Stand

Player's Expected Return by StandingExpand

Player's
Hand
Dealer's Up Card
2345678910Ace
0-16-0.292784-0.252250-0.211063-0.167193-0.153699-0.475375-0.510518-0.543150-0.540430-0.666951
17-0.152975-0.117216-0.080573-0.0449410.011739-0.106809-0.381951-0.423154-0.419721-0.478033
180.1217420.1483000.1758540.1995610.2834440.3995540.105951-0.183163-0.178301-0.100199
190.3863050.4043630.4231790.4395120.4959770.6159760.5938540.2875970.0631180.277636
200.6399870.6502720.6610500.6703600.7039590.7732270.7918150.7583570.5545380.655470
210.8820070.8853000.8887670.8917540.9028370.9259260.9306050.9391760.9626240.922194

Hit

Player's Expected Return by HittingExpand

Player's
Hand
Dealer's Up Card
2345678910Ace
4-0.114913-0.082613-0.049367-0.0123800.011130-0.088279-0.159334-0.240666-0.289198-0.253077
5-0.128216-0.095310-0.061479-0.023979-0.001186-0.119447-0.188093-0.266615-0.313412-0.278575
6-0.140759-0.107291-0.072917-0.034916-0.013006-0.151933-0.217242-0.292641-0.337749-0.304147
7-0.109183-0.076583-0.043022-0.0072710.029185-0.068808-0.210605-0.285365-0.319055-0.310072
8-0.0217980.0080050.0387840.0708050.1149600.082207-0.059898-0.210186-0.249375-0.197029
90.0744460.1012650.1289810.1580320.1960190.1718680.098376-0.052178-0.152953-0.065681
100.1825000.2060880.2304700.2562590.2877950.2569090.1979540.1165300.0253090.081450
110.2383510.2603250.2830200.3073500.3336900.2921470.2299820.1582570.1194820.143001
12-0.253390-0.233691-0.213537-0.193271-0.170526-0.212848-0.271575-0.340013-0.381043-0.350540
13-0.307791-0.291210-0.274224-0.257333-0.235626-0.269073-0.323605-0.387155-0.425254-0.396930
14-0.362192-0.348729-0.334911-0.321395-0.300726-0.321282-0.371919-0.430930-0.466307-0.440007
15-0.416594-0.406249-0.395599-0.385457-0.365826-0.369762-0.416782-0.471578-0.504428-0.480006
16-0.470995-0.463768-0.456286-0.449520-0.430927-0.414779-0.458440-0.509322-0.539826-0.517149
17-0.536151-0.531674-0.527011-0.522986-0.508753-0.483486-0.505983-0.553695-0.584463-0.557300
18-0.622439-0.620005-0.617462-0.615260-0.607479-0.591144-0.591056-0.616528-0.647671-0.626515
19-0.729077-0.728033-0.726937-0.725991-0.722554-0.715450-0.713660-0.715574-0.729449-0.724795
20-0.855230-0.854977-0.854710-0.854480-0.853628-0.851852-0.851492-0.850833-0.849029-0.852139
Soft 120.0818360.1035070.1265960.1564820.1859540.1654730.0951150.000066-0.070002-0.020478
Soft 130.0466360.0741190.1024770.1333630.1616930.1223860.054057-0.037695-0.104851-0.057308
Soft 140.0223920.0508070.0800810.1118940.1391650.0795070.013277-0.075163-0.139467-0.093874
Soft 15-0.0001210.0291600.0592850.0919600.1182460.037028-0.027055-0.112189-0.173704-0.130027
Soft 16-0.0210250.0090590.0399750.0734490.098821-0.004890-0.066795-0.148644-0.207441-0.165637
Soft 17-0.0004910.0289750.0593260.0911890.1280520.053823-0.072915-0.149787-0.196867-0.179569
Soft 180.0629050.0902480.1185020.1476130.1907530.1706760.039677-0.100744-0.143808-0.092935
Soft 190.1239580.1493400.1755770.2029860.2397990.2206200.1522700.007893-0.088096-0.005743
Soft 200.1825000.2060880.2304700.2562590.2877950.2569090.1979540.1165300.0253090.081450
Soft 210.2383510.2603250.2830200.3073500.3336900.2921470.2299820.1582570.1194820.143001

Double

Player's Expected Return by DoublingExpand

Player's
Hand
Dealer's Up Card
2345678910Ace
Hard 4-0.585567-0.504500-0.422126-0.334385-0.307398-0.950750-1.021035-1.086299-1.080861-1.333902
Hard 5-0.585567-0.504500-0.422126-0.334385-0.307398-0.950750-1.021035-1.086299-1.080861-1.333902
Hard 6-0.564058-0.483726-0.402051-0.315577-0.281946-0.894048-1.001256-1.067839-1.062290-1.304837
Hard 7-0.435758-0.359779-0.282299-0.202730-0.138337-0.589336-0.847076-0.957074-0.950866-1.130452
Hard 8-0.204491-0.136216-0.0663720.0034560.087015-0.187730-0.451987-0.718501-0.746588-0.810746
Hard 90.0611190.1208160.1819490.2430570.3170550.104250-0.026442-0.300996-0.466707-0.432911
Hard 100.3589390.4093210.4609400.5125170.5755900.3924120.2866360.144328-0.008659-0.014042
Hard 110.4706410.5177950.5660410.6146990.6673800.4628890.3506930.2277830.1796890.109061
Hard 12-0.506780-0.467382-0.427073-0.386542-0.341052-0.506712-0.615661-0.737506-0.796841-0.829344
Hard 13-0.615582-0.582420-0.548448-0.514667-0.471253-0.587423-0.690966-0.807790-0.867544-0.880582
Hard 14-0.724385-0.697459-0.669823-0.642791-0.601453-0.668135-0.766271-0.878075-0.938247-0.931821
Hard 15-0.833187-0.812497-0.791198-0.770915-0.731653-0.748846-0.841576-0.948360-1.008950-0.983059
Hard 16-0.941990-0.927536-0.912573-0.899039-0.861853-0.829558-0.916881-1.018644-1.079653-1.034297
Hard 17-1.072302-1.063348-1.054023-1.045971-1.017505-0.966972-1.011965-1.107390-1.168926-1.114600
Hard 18-1.244877-1.240010-1.234924-1.230519-1.214958-1.182288-1.182112-1.233057-1.295342-1.253031
Hard 19-1.458155-1.456066-1.453874-1.451983-1.445108-1.430899-1.427320-1.431149-1.458898-1.449590
Hard 20-1.710461-1.709954-1.709420-1.708961-1.707256-1.703704-1.702984-1.701665-1.698058-1.704278
Soft 12-0.071570-0.0072280.0584270.1259540.179748-0.183866-0.314441-0.456367-0.514028-0.624391
Soft 13-0.071570-0.0072280.0584270.1259540.179748-0.183866-0.314441-0.456367-0.514028-0.624391
Soft 14-0.071570-0.0072280.0584270.1259540.179748-0.183866-0.314441-0.456367-0.514028-0.624391
Soft 15-0.071570-0.0072280.0584270.1259540.179748-0.183866-0.314441-0.456367-0.514028-0.624391
Soft 16-0.071570-0.0072280.0584270.1259540.179748-0.183866-0.314441-0.456367-0.514028-0.624391
Soft 17-0.0070430.0550950.1186530.1823780.256104-0.013758-0.255102-0.400984-0.458316-0.537198
Soft 180.1197500.1776410.2370040.2952250.3815060.219948-0.029917-0.290219-0.346892-0.362813
Soft 190.2418550.2958240.3511540.4059720.4795990.3198350.195269-0.072946-0.235468-0.188428
Soft 200.3589390.4093210.4609400.5125170.5755900.3924120.2866360.144328-0.008659-0.014042
Soft 210.4706410.5177950.5660410.6146990.6673800.4628890.3506930.2277830.1796890.109061

Split

Player's Expected Return by SplittingExpand

Player's
Hand
Dealer's Up Card
2345678910Ace
2,2-0.084336-0.0156500.0590880.1516650.2268900.006743-0.176693-0.386883-0.507175-0.433570
3,3-0.137710-0.0562730.0299320.1262840.201318-0.053043-0.231843-0.436607-0.553507-0.482405
4,4-0.192325-0.108712-0.0203950.0819130.151377-0.166452-0.326068-0.511152-0.625044-0.560206
5,5-0.290154-0.208718-0.119335-0.0192310.045404-0.293928-0.454237-0.634113-0.729969-0.668811
6,6-0.212560-0.119715-0.0213200.0809120.153668-0.264427-0.425122-0.610576-0.716103-0.653362
7,7-0.131478-0.0437330.0492550.1466780.247385-0.050148-0.391981-0.577584-0.657268-0.651641
8,80.0738520.1461870.2208490.2974750.4093290.321042-0.022736-0.387228-0.480686-0.372535
9,90.1956250.2585480.3234740.3919870.4713390.3648370.234447-0.078010-0.317336-0.136810
10,100.1347740.2128360.2934030.3803670.4681170.2966330.064443-0.206733-0.371278-0.249494
A,A0.4706410.5177950.5660410.6146990.6673800.4628890.3506930.2277830.1796890.109061

Here are basic strategy tables for infinite decks.

The only differences between infinite and four decks is to hit soft 13 vs. 5, and soft 15 vs 4 only when the dealer stands on soft 17.

Poker Hand Values Chart

Value of poker hands list

Poker Expected Value Calculator

I have had a lot of requests for my actual spreadsheet through the years. It is available to the public at Google docs. Note that this document allows for infinite re-splitting, while the tables above are based on a maximum of three splits (except aces).

Value Of Poker Hands List


Expected Value Of Poker Hands List

Written by: Michael Shackleford