What Is EV (Expected Value) In Hold’em?


Difference between online and offline hold’em

Are online and offline games really the same in Hold’em? In theory, of course, it’s the same kind of game short table and full table. Or, even if the boundaries are clear, such as ring games and tournaments, games played by the same 9 players with the same rules cannot be classified as different games just because the location is different. However, as multi-table games have become mainstream online recently, there has been a difference in the operating technology that can be called a completely different genre now.

Therefore, players who operate both 온라인홀덤 and offline should approach the game with caution as if they were playing a completely different game. Making money online does not guarantee that they will make money offline, and similarly, players who make money off-line do not guarantee money online. This is similar to how a person who made a lot of money in the watch business does not necessarily guarantee success by running a bakery.

Let’s be a little more specific, shall we?

In the underground market, there is a fake watch shop where tourists mainly come to shop, and right next to it is a bakery with so many customers that almost line up at checkout. How will these two places do business? First, the owner of the watch shop sells goods while negotiating prices with customers for a long time. Even for the same product, the price varies from customer to customer.

You can see that it sells at a low price to customers who already know the price or who are likely to have to buy it at a lower price, while selling it at a slightly higher price to tourists who are insensitive to price.

The secret of the counterfeit watchers lies in knowing how much their customers will be buying their items. And the bakery next door is full of deliciously delicious breads, but it’s always crowded with customers. I wonder if the secret of this house’s business is to make delicious bread in a good place and sell it at a reasonable price.

What would happen if the above two businesses were run in opposite ways?

If running a bakery is like selling a counterfeit watch, in order to sell it to customers who buy bread at a slightly higher price, you need to promote it to customers by saying, “This bread is made from pollution-free agricultural products, which is good for health, and is especially cheap for customers.” If you do business in this way, customers who are tired of waiting to pay for the bread from the back will put down the bread and just walk away.

In other words, it is an inefficient operation of missing a lot of customers to sell to a certain customer at a slightly higher price. Conversely, if a person who runs a counterfeit watch store runs a bakery, and sells only at a set price without explaining the product when customers come, he will miss the opportunity to sell at a higher price to some customers while serving a small number of customers in a limited time. In this way, the offline business should be operated like a watch business, and the online business should be operated like a bakery business.

I once played 1,200 hands an hour at Full Till and 20 hands an hour at Macau Wynn Poker Room. This is the reason why a business that accommodates 20 people an hour and a business that can accommodate 1,200 people cannot be the same.

Let’s take another example. Let’s assume this time a business that sells the same types of goods, but one house is a wholesale store and the other is a retail store. Assume that the product being handled is a beverage and if the consumer price of this beverage is 100 won, the price usually shipped from the factory is about 50 won, and the wholesaler pays a difference of 10 won and delivers it to the retailer.

That is, a wholesaler buys an item at 50 won and sells it at 60 won, and a retail store receives an item at 60 won and sells it at 100 won. A wholesaler sees a 20% difference, but a retailer does business with a difference of about 67%. Why are the margins of retailers and wholesalers so different?

When trading goods, wholesalers usually sell in boxes rather than daytime.

Even if the median profit is rather small, the real profit is guaranteed because of the high trading volume. In addition, unlike retail stores, there is no need to choose a store because it has a good neck, so you can choose a location on the outskirts of the city, so the store rent is relatively inexpensive compared to retail stores. Conversely, retail stores can only make ends meet when a certain amount of intermediate profit is guaranteed due to high rents and store operating costs.

If a retailer trades at the same margin as a wholesaler, they may sell a lot, but the more they sell, the more they lose. This is because the price was calculated without reflecting the high store rent or operating cost in the cost. Here, the store rent is the rake, and the transaction unit is the same concept as the number of hands operated per hour.

The difference between operating 20 hands per hour and operating 1,200 hands differed in the degree of looseness, and this degree of looseness greatly opened a value bet, that is, a reasonable value (consumer) to the extent that the opponent responded to my bet.

As such, value bets, i.e., the standards for determining the value of goods are markedly different between online and offline, so consumers avoid online even if it seems a little expensive, and relatively offline, buy a little expensive and buy a little bit more This is the trading method that sells expensively. Therefore, offline players need to use their agility well for each opponent and the situation at that time, while online players should consider the overall system more important than focusing on individual situations.

Playing as if operating a factory automation system is to play as if operating a factory automation system, by identifying whether the way I operate is going in the long-term profitable direction, analyzing various information from the system, and feeding it back if there is an error, correcting it and applying it to the system I would like to be right.

As such, today’s hold’em has evolved into a completely different game due to the huge difference in the number of hands operated per unit time. Therefore, players who want to operate both online and offline at the same time will need to understand this well and find a suitable operation method.