# Fold Equity > Source: [Fold Equity in the Smarter.Poker Glossary](https://smarter.poker/glossary/fold-equity) ## Definition Fold Equity Is The Extra Value A Bet Or Raise Gains From The Chance That The Opponent Folds. It Equals How Often They Fold Multiplied By The Pot You Win When They Do. Fold Equity Is Why A Semi-Bluff Can Be Profitable When Calling Cannot, And Why Short Stacks Lose Much Of Their Bluffing Power. - **Category**: Theory - **Term Code**: `fold-equity` - **DefinedTermSet**: [Smarter.Poker Poker Glossary](https://smarter.poker/glossary) ## Related Poker Terms - [Semi-Bluff](https://smarter.poker/glossary/semi-bluff) ([Markdown](https://smarter.poker/glossary/semi-bluff.md)): A Semi-Bluff Is A Bet Or Raise With A Hand That Is Probably Behind Now But Has Real Outs To Improve, Such As A Flush Draw Or An Open Ended Straight Draw. It Wins In Two Ways: The Opponent Folds Right Away, Or The Draw Completes. That Combination Makes Semi-Bluffs The Backbone Of Most Balanced Bluffing Ranges. - [Equity](https://smarter.poker/glossary/equity) ([Markdown](https://smarter.poker/glossary/equity.md)): Equity Is Your Share Of The Pot Based On How Often Your Hand Would Win If All Remaining Cards Were Dealt With No Further Betting. A Hand With 40 Percent Equity In A 100 Chip Pot Owns 40 Chips Of It On Average. Equity Against A Whole Range, Rather Than One Hand, Is What Drives Sound Decisions. - [Squeeze](https://smarter.poker/glossary/squeeze) ([Markdown](https://smarter.poker/glossary/squeeze.md)): A Squeeze Is A 3-Bet Made After One Player Has Opened And At Least One Other Player Has Called. It Works Because The Opener Must Worry About The Caller Behind, And The Caller Has Already Shown A Capped Range That Rarely Contains The Strongest Hands. Squeezes Are Usually Sized Larger Than A Normal 3-Bet. - [EV (Expected Value)](https://smarter.poker/glossary/expected-value) ([Markdown](https://smarter.poker/glossary/expected-value.md)): Expected Value, Or EV, Is The Average Result Of A Decision If It Could Be Repeated Many Times. Each Possible Outcome Is Multiplied By Its Probability And The Results Are Added Together. A Positive EV Play Earns Over Time Even When It Loses On A Given Hand, Which Is Why Good Players Judge Decisions By EV Rather Than Results. ## Related Strategy Lessons - [Hijack Opening Range In 6 Max Cash](https://smarter.poker/learn/hijack-opening-range) ([Markdown](https://smarter.poker/learn/hijack-opening-range.md)): In The Smarter.Poker 6 Max Cash Reference At 100 Big Blinds, The Hijack Opens 13.2% Of All Starting Hands By Frequency And Plays 20.5% Of Them At Least Some Of The Time, With The Full Chart Below. - [Cutoff Opening Range In 6 Max Cash](https://smarter.poker/learn/cutoff-opening-range) ([Markdown](https://smarter.poker/learn/cutoff-opening-range.md)): In The Smarter.Poker 6 Max Cash Reference At 100 Big Blinds, The Cutoff Opens 16.8% Of All Starting Hands By Frequency And Plays 24.9% Of Them At Least Some Of The Time, With The Full Chart Below. - [Button Opening Range In 6 Max Cash](https://smarter.poker/learn/button-opening-range) ([Markdown](https://smarter.poker/learn/button-opening-range.md)): In The Smarter.Poker 6 Max Cash Reference At 100 Big Blinds, The Button Opens 25.2% Of All Starting Hands By Frequency And Plays 40% Of Them At Least Some Of The Time, With The Full Chart Below. - [Opening Ranges With 20 Big Blinds](https://smarter.poker/learn/20bb-opening-ranges) ([Markdown](https://smarter.poker/learn/20bb-opening-ranges.md)): With 20 Big Blinds The Smarter.Poker Reference Opens The Button With 21.4% Of Hands By Frequency, Against 25.2% At 100 Big Blinds, And The Chart Below Shows Every Hand. - [How To Check-Raise In Poker](https://smarter.poker/learn/check-raising) ([Markdown](https://smarter.poker/learn/check-raising.md)): A Check-Raise Is Checking And Then Raising When Your Opponent Bets, And It Is One Of The Most Powerful Lines Available To The Player Out Of Position: Raising A One Third Pot Bet To 110 Into 100 Needs To Work 45.3% Of The Time As A Pure Bluff. - [How Often A Bluff Must Work](https://smarter.poker/learn/bluff-break-even-percentage) ([Markdown](https://smarter.poker/learn/bluff-break-even-percentage.md)): A Pure Bluff Breaks Even When It Works As Often As The Bet Divided By The Pot Plus The Bet: A Half Pot Bluff Needs 33.3% Folds And A Pot Sized Bluff Needs 50%. - [Bubble Play In Poker Tournaments](https://smarter.poker/learn/bubble-play) ([Markdown](https://smarter.poker/learn/bubble-play.md)): On The Bubble, Calling An All In Needs Much More Than 50% Equity Because Busting Costs Your Whole Prize Equity: In The Worked Example Below A Player With 3000 Chips Needs 72.9% Equity To Call The Chip Leader's Shove. - [Final Table ICM Strategy](https://smarter.poker/learn/final-table-icm) ([Markdown](https://smarter.poker/learn/final-table-icm.md)): At A Final Table Every Pay Jump Turns Chips Into Money Unevenly: In The Six Handed Example Below The Chip Leader Holds 40% Of The Chips But 24.45% Of The Prize Money Left, And The Shortest Stack Holds 4% Of The Chips And 10.99% Of The Money. - [M Ratio And Short Stack Play](https://smarter.poker/learn/m-ratio-and-short-stacks) ([Markdown](https://smarter.poker/learn/m-ratio-and-short-stacks.md)): M Measures How Many Orbits A Stack Can Survive Without Playing A Hand: A Stack Of 12,000 With Blinds Of 400 And 800 And An 800 Big Blind Ante Has An M Of 6, Which Is 15 Big Blinds And Short Enough To Play Push Or Fold. - [Bounty And PKO Tournament Strategy](https://smarter.poker/learn/bounty-tournaments) ([Markdown](https://smarter.poker/learn/bounty-tournaments.md)): A Bounty Lowers The Equity You Need To Call An All In, Because Busting The Player Wins You The Bounty As Well As The Pot: Calling 20 Big Blinds Into 21.5 Needs 48.2% Equity Alone, And 38.8% If You Value The Bounty At 10 Big Blinds. - [Satellite Tournament Strategy](https://smarter.poker/learn/satellite-strategy) ([Markdown](https://smarter.poker/learn/satellite-strategy.md)): In A Satellite Every Seat Pays The Same, So Once You Have Enough Chips Extra Chips Are Worth Almost Nothing: In The Example Below The Chip Leader Already Has A 98.8% Chance Of A Seat And Would Need 78.6% Equity To Call An All In From The Third Stack. ## Practice On Smarter.Poker - [GTO Training](https://smarter.poker/hub/training): Scenario Based Poker Training, Free To Play. - [Virtual Poker Table Sandbox](https://smarter.poker/features/virtual-poker-sandbox): Interactive Multi-Street Hand And Range Scenario Explorer. ## Compliance & Fair Play There Is No Real-Money Gambling On Smarter.Poker: Club Chips Are Play Credits With No Cash Value, And Diamonds Are A Promotional Rewards Currency.