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PokerStove is a program that calculates hand equities (i.e., expected percentage of the time that each hand wins at showdown). [3] Since poker is a game of incomplete information, the calculator is designed to evaluate the equity of ranges of hands that players can hold, instead of individual hands. [4]
Poker calculators are algorithms which through probabilistic or statistical means derive a player's chance of winning, losing, or tying a poker hand. [1] [2]Given the complexities of poker and the constantly changing rules, most poker calculators are statistical machines, probabilities and card counting is rarely used.
Pot odds are only useful if a player has enough equity.Equity is the chance a player has to win the hand at showdown.It is calculated as the fraction of remaining cards in the deck for each remaining street (sequential card being dealt, e.g. turn, river) that can give a player the winning hand.
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In poker, the Independent Chip Model (ICM), also known as the Malmuth–Harville method, [1] is a mathematical model that approximates a player's overall equity in an incomplete tournament.
Fold equity is a concept in poker strategy that is especially important when a player becomes short-stacked in a no limit (or possibly pot limit) tournament.It is the equity a player can expect to gain due to the opponent folding to his or her bets. [1]