Originally Posted by
Alan Mendelson
EV is not a medium of exchange.
'Collecting positive EV' is just too abstract a concept for me to grasp.
How can it "carry over" from 1 play to the next or "accumulate" in any way?
Sticking with poker analogies since that's what I know (sort of
) Let's say you have pocket Aces, your heads-up opponent has pocket Kings and you're both all in before the flop. There's $100 in the pot.
You are a 4 to 1 favorite in this spot. Your EV is +$80.
BUT your opponent hits a King on the river and you lose.
If we play the same hand again isn't my EV still +$80 in a $100 pot? It doesn't become +$160?
I realize that playing this same hand and pot 100,000 times SHOULD result in me winning close to 80,000 times and that's where mickey's formula
"net edge times volume equals the earn." comes in to play.
But I don't grasp this "collecting EV" concept. To me my EV each time this particular hand and pot is played will be +$80.