Gambling terms, explained straight

Poker

Fold equity poker

Fold equity is the extra equity a player expects to gain when an opponent folds to a bet or raise, rather than continuing to showdown.

Formula
Likelihood opponent folds × gain in equity if they fold1
Applies to
No-limit and pot-limit poker, especially tournament play12

Key points

  • Fold equity is the value created when a bet or raise induces an opponent to fold, giving you the pot without a showdown1.
  • It depends on how often the opponent folds and how much your equity improves from their fold1.
  • Unlike standard poker equity, which is your share of the pot at showdown, fold equity is the extra value from a fold before showdown23.

Where this term is used

Not the same as

  • Fold, call, raise poker meaning — the action options fold, call, and raise, whereas fold equity is the strategic value tied specifically to inducing a fold4
Poker Poker equity A player's expected share of the pot at showdown, distinct from fold equity. Poker Push fold chart poker A chart showing when to go all-in or fold, often used with fold equity calculations. Poker Gto poker Game-theory optimal strategy that balances bets to maximise fold equity. Poker Draw poker A poker variant where fold equity applies when betting on incomplete hands. Poker Quads poker Four of a kind in poker, a hand with high showdown equity but little fold equity. Poker Omaha hi-lo hand rankings The low-hand rankings used in Omaha high-low games

Sources

  1. Fold equity en.wikipedia.org Provides the definition and formula for fold equity.
  2. Glossary of poker terms en.wikipedia.org Confirms the term and distinguishes fold equity from poker equity.
  3. Poker strategy en.wikipedia.org Supports the distinction between fold equity and showdown equity.
  4. Texas hold 'em - Wikipedia en.wikipedia.org Clarifies that fold/call/raise are actions, not a synonym for fold equity.

Sources are drawn from regulators, universities and published research, and each one is labelled with what it actually is — a preprint is not called a paper. Bookmaker and affiliate pages are never cited here, because a page that sells betting is not a neutral authority on it.

Written and maintained by Ellis Warrender, writer and maintainer.

Last updated 28 July 2026. Spotted an error? Tell me and it gets fixed and logged on the corrections page.