For example, if you go all-in preflop with Pocket Aces and another player calls with Pocket Kings, there is. We will lose $500 most of the time but will win $1,000 just often enough to make the call profitable. All in all. In accounting, the company’s total equity value is the sum of owners equity—the value of the assets contributed by the owner (s. Poker Fold Equity Formula - 【Comfortable Seat】4 Chairs are designed with a curved backrest and Thick leather seat pads to promote comfort, giving you the comfortable seating experience. Find out the company's total assets. 85(1-x) EV(total) = 370x-12. Step 2: Finally, we calculate equity by deducting the total liabilities from the total assets. Putting these values in the formula for the required fold equity, you get: Required fold equity = $1 / ($1 + $1. Poker Fold Equity Formula. You can calculate it by deducting all liabilities from the total value of an asset: (Equity = Assets – Liabilities). On the other hand, is your chance of winning when you showdown your hand. Using historical data, analysts estimate a 2%. 95 / 10^7. Flop: 8♦ K♣ 2♦. e. The fold equity equation is a simple calculation that involves two main components: the likelihood your opponent folds and the potential gain in equity if they do fold. . 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. pushing player. Go to page: Go. . Fold equity implies the possibility of your opponent folding so it’s not going to work when you’re up against a calling station married to two overcards or bottom pair. Stockholder’s Equity consists of Paid-up Capital, Retained Earnings, and Treasury Stock. If the current market price of the stock is less than $62. An important trick to remember is that %W + %L = 100%. What this means is this: if villain folds less than 12% of the time we are making a -EV shove. AK falls within both the 4-betting and calling ranges. But different hand ranks also influence equity realization. Thus, a more realistic value for our EV is $1. 34. I made a Hold'em Manager HUD for Full Tilt Poker 6-max tables that closely resembles the PA HUD-type layout, but with the powerful new 3-bet stats of HM. So let’s say you have a flush draw on the flop, you are against one opponent and the pot is $10 before the flop. 19 = 5473. The wider your opponent’s preflop range, the more fold equity you have. 06 * 0. To our surprise the Nit in the BB (with a 3b of 3%) 3bets us. Go to page: Go. You hold Q J on a flop of T 9 4. For example, let’s say you have AK while seated in the Small Blind. 4. Situations Where You Probably Have Fold Equity. As per the second method, the stockholder’s equity formula can be derived by using the following steps: Step 1: Firstly, collect paid-in share capital, retained earnings, accumulated other comprehensive income, and treasury stock from the balance sheet. Return on Equity Formula or ROE is a metric for calculating a firm’s financial performance by dividing its net income by its shareholder’s equity, expressed as a percentage. May 1, 2019. perhaps 32% is a poor estimate, it was a given and VBAces. For a more in-depth and complete strategy on fold equity, check out the 888poker article: How Poker Equity Can Make Your Game InvincibleWhen your opponent has a low fold to continuation bet, you have less fold equity. e. Fold equity is an estimate of how often an opponent might fold. Before you go all-in with your next semi-bluff, or. 2) Villain calls and Hero wins. e. It is a relatively simple concept that has, in my view, been over-analyzed – turned into a mathematical formula that has been off-putting to many regular Joes and Janes in the poker world. 7 million - $1. It equates to: Gain in equity if opponent (s) fold x likelihood that opponents fold. PREFLOP > FLOP > TURN > RIVER. Fold Equity = of Your Opponent Folding X Opponent#x27;s Hand Equity = 70 X 78. Preflop the play is standard. Private equity is capital invested in companies not listed on a stock exchange or publicly traded. Helping you determine frequency you need to continue to make Villain’s zero equity hands indifferent to calling. Fold Equity Formula Poker - Top Online Slots Casinos for 2022 #1 guide to playing real money slots online. 85 EV(fold)= 370 EV(total) = 370x-12. To do that, we use the following formula: Fold Equity Formula: [Betsize/ (Potsize + Betsize)] = [3. I've read in 'Let There Be Range' that you can calculate fold equity by plugging numbers into a fold equity formula. Yep and another thing to remember. In this case, you should be continuation betting less as a bluff and more for value. Step 2: Finally, the formula for equity can be derived by adding up all the categories of equity capital except ones that have been repurchased and retired (also. PREFLOP > FLOP >. Situations Where You Probably Have Fold Equity. Fold equity is most often used in No-Limit Hold'em because you can. Try it for free at solutions • Practice GTO • Analyze hand history Timecod. 00, 1 fold, Hero raises to $5. Let’s say we face a 2/3rds pot cbet OOP on the flop. In finance, a return is a profit on an investment measured either in absolute terms or as a percentage of the amount invested. Since the size and the length of investments can differ drastically, it is useful to measure it in a percentage form and compute for a standard length when comparing. Equity v pokeru – základní vzorce k výpočtu fold equity a celkové equity. g. Without much fold equity, we only have pot equity and this is best realized with position. This equity becomes an asset as it is something that a homeowner can borrow against if need be. Nov 16, 2022 Table Of Contents What Does Fold Equity Mean? Why Is Fold Equity. It equates to: The first half of the formula can be estimated based on reads on opponents or. Below are several methods that can be used to calculate the value: Assets – Liabilities. 2000 / (100 + 50 + 10) = 12. Relinquishing 100% of your equity that often is a surefire way to not only leave part of the pot out on the felt – but also to make yourself a huge target for competent players. It can be on a deal basis earned on every deal or a whole fund basis. Equity Value = 213,236. com Formula. We have a flush draw with 9 outs. News, Views, and Gossip Poker Blogs & Goals Online. I've read in 'Let There Be Range' that you can calculate fold equity by plugging numbers into a fold equity formula. There is no magic formula for getting a player's fold equity in a particular spot, but a. Biggest poker site with industry-leading software and a huge range of games GT Bonuses. read more. Breakeven Fold Equity Chart; Fold Equity Formula; Extending the 2/4 Rule; Recent Comments. The net profit margin (NPM. Now we can say that Company A has a lesser cost of capital (WACC) than Company B. Jan 02, 2016 SB calls and all else fold and we go to the flop HU. What do you do? Equity dictates you fold, because now you are a 2 to 1 underdog to win the hand, and. 5. Most of BTN’s bluffs have significant equity and EV on this board. Fold equity - factorii pe care trebuie să îi iei în calcul. 21 = . closely following other competitive domains like soccer, snooker, and Formula 1, enriching his insights and providing a comprehensive understanding of the gaming. Where: Net Income → Often referred to as “net earnings”, net income represents the post-tax profits of the company and can be found at the bottom of the income statement – hence, it is often called. An important concept related to equity is fold equity. Net borrowings is the sum of short-term and long-term debt: Difference in Short Term Debt = 30 - 20 = 10. ext {Shareholders' Equity}= ext. The expected growth in dividends is 5% or (. Now, let’s calculate the EV when called based on these numbers (remember: when she calls, you’ll either lose $154 or win $252): Villain Calls and You Lose: 0. The first half of the equation is known because it is whatever share of equity the folding opponent has. Discover the best slot machine games, types, jackpots, FREE games. . Fold Equity หรือ โอกาสที่อีกฝ่ายจะหมอบ เป็นแนวคิดที่ค่อนข้างง่ายแต่สำคัญต่อการเล่นมาก และการที่เราจะ Bluff ให้เก่งเราต้องเข้าใจมัน. Return on Equity Formula. 55% plus 33% is. 00, SB raises to $25. If you go all in for another $100 and your opponent folds, you win the entire pot of $100, which is 114% of your equity. To see the turn, you need to invest. It equates to: Fold Equity = likelihood that opponent folds ∗ gain in equity if opponent(s) fold. Finally, markup can be calculated by deducting the average cost per unit from the average selling price per unit. The application of the minimum fold-equity formula leaves players making pretty big mistakes in their range construction OOP. Thus, we see that being out of position, with a high stack-to-pot ratio, and a hand with poor playability can yield as low as 62% of our initial estimated value. An important thing to mention here is that sometimes we can encounter a fold equity equation that follows the formula: [the probability of opponent folding] * [opponent’s equity in the hand]. The aggressive action is to 4-bet, so you reraise to 25 times the big blind, as per the chart. Method #1 – Dividend Discount Model. Private equity funds buy public and private companies with the. + Preferred stock. 5 * 0. On coordinated boards, our bluffing success will be low. Difference in Long Term Debt = 20 - 15 = 5. This is an exercise in fold equity. Shareholders' Equity = Total Assets – Total Liabilities. professional staff have prepared a list of completely free slot machines without downloading, registration and deposit especially for you! Gamers have an opportunity to choose from more than 4,000 free online slots with bonus features and without. Double the outs: 8 * 2 = 16. Although the concept is pretty simple, it’s not that easy to know when to apply fold equity. e. The first rule is fairly obvious. Fold Equity Formula Poker; Equity Formula Poker Odds; Equity Formula Poker Strategy; Equity Formula Poker Value; Poker: Pot Odds and Equity: OverviewThis instructable will cover the concepts of pot odds and equity and one of the ways you can use them to improve your poker game. Let Pot be the pot before hero makes a bet of Bet with equity Eq. It can also be related to a share of the pot based on this percentage (e. Although the concept is pretty simple, it’s not that easy to know when to apply fold equity. In this article I will cover the basics of fold equity and how it makes semi-bluffs. 2. I think that a lot of people understand pot odds. BOOM! Keeping his best poker face to not reveal any tells of his complete and utter confusion the SB quickly runs the calculation again, from. 7). 9 million = $1. BB’s MDF says they defend 75% of their range, and fold, at most, 25% vs this sizing. 1 ×. Imaginea ta la masa de joc. Be wary of jamming your weak off-suit aces. 50). 76%, per the US Treasury website, we will use this risk-free rate for all of our calculations with US companies. It is based on the probability that a player will have the best hand after the cards are dealt. The difference is that rather than considering our pot-equity to obtain. Fold Equity Formula Poker - Ducky Luck Casino is the best online casino for real money USA 😁 Fold Equity Formula Poker : Play Now Slots Welcome Bonuses. Or am I completely wrong here? My all-in adjusted equity is at 45,129 in 1367 games. Simply put: you bet or raise because you think it's +EV (expected value), not because you probably have the best hand, but because your opponent will fold often enough to make this move profitable. For example, if there’s 25% equity that the player across you will fold at a $100 pot, then they have a 25% fold equity. The term “fold equity” is ambiguous in the poker community. Fold equity is a concept in poker strategy where a player considers the ‘equity’ they expect to gain due to their opponent folding. The forum requires it. EBITDA margin is a measurement of a company's operating profitability as a percentage of its total revenue. 2010 Deals Poker Deals Crypto Deals Casino Deals eWallet Deals Financial Deals Trading Deals Sportsbook DealsAug 15, 2020 · Your Hand’s Current Equity + (% Villain Folds) * (Villain’s Equity) = Your Overall Equity In other words, if you’re 25% to win the hand, and you think Villain will fold 50%. = 36%. As we can see in the above Excel snapshot that the market value or the equity value of Maruti Suzuki India is around two lakh crores. cost of equity = 1% + 0. The formula to calculate total equity is Equity = Assets – Liabilities. 40, Hero raises $3. 171 secs 80,1. 3 folds, Hero raises to $0. Subscribe. Making sure. 2% Cost of Equity Using Dividend Capitalization Model. However, this definition misses something obvious – fold equity is relative to your hand! Put another way, the value gained from. Fold Equity Formula Poker - Poker Whether it's Texas Hold'em or Stud, all styles of poker require players to have a good understanding of the hierarchy of hands, and when to bow out of the game. Conclusion. 7% of the time instead of 50% (50% / 140% = 35. 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. Before you bluff, you ask yourself, "Do I have fold equity? In other words, you ask yourself if your opponent will fold at a percentage that will justify your bluff. Fold Equity: This concept is the equity you gain in a hand whenever you can get an opponent to fold, and the impact that this can have is massive! Imagine that you have 87s and your. 35. This equity will not stay the same throughout the hand, because as more cards are dealt the strength and potential of each hand will change, and thus each player’s equity will change with it. One important thing to remember is that the push/fold strategy only really works if you are opening the action. After all, the more players who fold during the round. Advertisement. The. Due to the fact the pot post-raise will be. 18 which means - if I understand it well - that Villain has to fold at least 18 of the time, and I need to add this percentage to the considered Villain#x27;s combos to have his minimum cr range CR_min with which he is folding combos calling with my E=0. the. . The tighter your image at the table, the more fold equity you will have. Where: FE stands for Fold Equity; COF represents the chance your opponent will fold (in percentage) OE denotes your opponent’s equity (in dollars) Example. . #1. Okay, Now Explain It Like I’m Five. Folding a hand with one out on the river doesn’t cost you much, as you probably weren’t going to win anyway. Fold Equity. Le vom explica pe larg mai jos. . 1 2. This ratio is crucial for bankers, investors, and economists to assess a company's financial health, lending risk, and ability to meet financial obligations. Distribution Waterfall: The distribution waterfall is the order in which a private equity fund makes distributions to limited and general partners. This formula can be calculated in any of three formats: Hand vs Hand; Hand vs Range; Range vs Range; Table of Contents. Poker Stars, Buy-in (40/80 blinds, 10 ante) No Limit Hold'em Tournament, 9 Players Poker Tools Powered By Holdem Manager - The Ultimate Poker SoftEquity is the difference between an investor’s or business’s assets and liabilities. we can prove this with the EV formula. 7:1. As seen in the charts above, weak aces are losing pushes from UTG and middle position, even with 10bb stacks. 5 in the blinds we need 62. There is no such formula for a nonprofit entity, since it has no shareholders. We can even do very complex fold equity calculations with the same process: Let's say your question is: "The pot is $256, my bet is $340, 3 players, one of them only have $130 left. It can be used to determine the profitability of a company or to determine an investor’s stake of ownership. or just $240 (the pot) Let’s say Player 1 leads out with a bet of 9,000, into a pot of 7,500, and Player 2 folds. Aprenda como calcular o fold equity, um conceito essencial na estratégia de pôquer, com este guia completo. Analysts also use this ratio to understand the. 6 stars — 1982 reviews…Our Planet 7 Casino review shows that they shower new players with promotions, almost to the point of being overwhelmed. Poker Term Fold Equity; Poker Term Fold Equity Formula; Note (October 2014): This article needs to be re-written. The current market value per Umberland share is $150. The formula for calculating stockholders' equity is: Stockholders' Equity = Total assets – Total Liabilities. Some of the stuff is okay, but the math needs to be fixed. Online Poker Sites & Marketplaces. Dafür stelle man obige Formel einfach nach f um, um die mindeste Fold-Equity für einen profitablen Push: f > ( ( e * ( p + 2 * s ) – s ) / ( e * p ( p + 2 * s ) – s – b – p ) Dies gibt die minimale Fold-Equity an, die man benötigt, damit ein (Semi)-Bluff profitabel wird. The more connected your 2 cards are, the more equity your hand will realize. How big of a bet you are facing if applicable. When that happens your fold equity is gone and there is less value in three-betting light. For games with more than 2. The derived amount of total equity can be used by lenders to determine whether there is a sufficient amount of funds invested in a business to offset its debt. Well, equity refers to the share of the pot that belongs to you based on the percentage chance you have to win a hand at any given point. Your required equity is how often you will need to win the pot at showdown in order to make a call profitable. Here's the debt-to-equity formula: Debt-to-equity ratio = Total liabilities / Total shareholders' equity. 80. The current pot size. So, in that case, we would need to defend 75% of our range to make villain’s bluffs. (Of course only. We show the formula for finding the required fold equity for +EV when hero bets and villain either calls or folds. 505 + $0. - Treasury stock. Fold Equity Calculators: Putting Them Into Use. Common Situations for Gaining Fold Equity. 7 times that you don't. Equity v pokeru vyjadřuje procentuální šanci na výhru s konkrétní handou v daném okamžiku (hand equity), když nebudeme brát v potaz jakoukoliv další akci. No matter if your hand improves on the flop or not, fold equity gives you. In contrast, ruin is going to happen almost surely if f > f c. raised when folded to in the cutoff, button, or small blind. Expected Value Calculations and Fold Equity is the second part of the five part series of PokerVIP about EV Calculations Est. Obviously, this kind of calculation is hard to make in-game when we don't know our opponent's hand. We can even do very complex fold equity calculations with the same process: Let's say your question is: "The pot is $256, my bet is $340, 3 players, one of them only have $130 left. Fold Equity: The Importance of Semi-Bluffing. Antes are 1, and it is a 10-handed table, so one round of antes is 10 chips. 6591 x -$154 = -$101. It might help to think about it like this: Equity would be what’s left if a business or. You can either 4-bet, call, or fold. This means if villain will fold 38% of the time, this bet is breakeven. It can be represented with the accounting equation : Assets -Liabilities = Equity. Hand equity% × ICM EV of win + (100 - equity%) × ICM EV of lose > ICM EV of fold. Poker equity refers to the portion of the pot that should/could be yours according to the likelihood of winning the hand right now, whether it’s preflop, on the flop, on the turn, or on the river. Hi, I just tried deriving a formula for how much fold equity we need for a bluff to be profitable: legend: FE: fold equity e: equity We assume t. This is a classic coin-flip situation where your chance of winning the hand, at this point, is almost 50:50. RFE ignores all post-flop play options like continuation betting, bluffing, having initiative, making a strong hand,. Business, Economics, and Finance. It is calculated by multiplying a company’s share price by its number of shares outstanding. Playing the early stages of MTTs. Yet the solver is over-folding, almost half it’s range! So let’s say you have a flush draw on the flop, you are against one opponent and the pot is $10 before the flop. The classical definition of fold equity is: EV = (how often they fold x size of the pot). However, real equity is easy to calculate and doesn’t change. Just because someone has a high fold to 3bet doesn't mean you can go to crazy. Flop: 8♦ K♣ 2♦. , common stock, additional paid-in capital, retained earnings. , 50% for a 50-50 chance). g. Situations Where You Probably Have Fold Equity. You'll need another $60+ worth of equity for your turn bet of $150 to make sense, or in the. Therefore, Adam realized a 35% return on his shares over the two-year period. From Wikipedia, the free encyclopedia. Check out some valuable tips and tricks to help improve you poker skills by Big Stack UniversityROE measures the profits made for each dollar from common shareholders’ equity. Step 4: Click on the “Variable 1 Range” box and select the range A2:A8. Using the dividend capitalization model, the cost of equity formula is: Cost of equity = (Annualized dividends per share / Current stock price) + Dividend growth rate. There is no magic formula for getting a player's fold equity in a particular spot, but. Share Capital + Contributed Surplus + Cumulative Net Earnings – Cumulative Dividends. . Your opponent goes ahead and bets $10 making the pot $20. How to Use Total Equity. How to Calculate Expected Value. Since fold equity is a subjective calculation, there are different theories on what the best fold equity formula should be. We have a flush draw with 9 outs. From Wikipedia, the free encyclopedia. The calculation of its total equity is: $750,000 Assets - $450,000 Liabilities = $300,000 Total equity. It’s that simple! Let’s look at an example to calculate the poker equity using the rule of 4 and 2. As a result, BB needs to overfold significantly on this flop. We’ll refer to this number as the final pot. 2. The first one is to know when you should make thin calls or hard laydowns. 00, De quelle fold equity avez-vous besoin afin que votre 4-bet soit EV+ en soi? Entre 45 et 55% entre 56 et 65% entre 66 et 75% plus de 76%. Also Read: How to Use Fold Equity in Poker. Use the formula to calculate intrinsic value. Although the concept is pretty simple, it’s not that easy to know when to apply fold equity. It has played I think turn shove, well yes I love the fact that we’re being. Fold equity refers to the probability of getting an opponent to fold. Step 2: Finally, the. 33. Knowledge of our fold-equity can be used in conjunction with our pot-equity to make. As a result, BB needs to overfold significantly on this flop. It can be expressed as: Fold Equity = (Likelihood Opponent Folds) x (Gain in Equity if Opponent(s) Fold) Your equity is calculated by applying the percentage chance of winning to the amount in the pot — here 56% of $200, or $112 of equity. Pot equity: Since you almost certainly have the best hand, this means you have the most equity in the pot. 5% steal equity. 4 = 40%. 13,700,610 games 0. Breakdown of the Formula The fold equity equation is a simple. GTOWizard helps you to learn GTO and analyze your game. For example, suppose you’ve bet $100 into a pot of $100, giving your opponent 2:1 to call (your opponent has to call $100 to win $200). Breakdown of the Formula. If he folds more than 38% of the time, this bet is outright +EV. A two-fold equity multiplier indicates that half of the company’s assets are financed by debt and the other half by equity. For a half–pot bluff, the. Rm =. For example, if there’s a 33 percent chance your opponent will fold to a bet in a $100 pot, you have 33% fold equity (worth $33) in that pot. what is fold equity? View Plans & Pricing If you are signed in and are seeing this message, please be sure you have selected a user name in My Profile. 3/100 So, the fold equity is 54. If he folds less than 38% of the time, the bet is outright -EV. Folding Rotating Dimmable COB LED Downlights 9W 18W 24W 30W. There is no magic formula for getting a player's fold equity in a particular spot, but a. Tip 2: Play your stack size, not your cards. Accounting Equation: The equation that is the foundation of double entry accounting. This is what makes semi-bluffing in poker profitable. When you’ve played poker for years, it’s easy to forget that technical poker speak may as well be a different language. Our extensive guide below will help you to find expected value in any hand and quickly make the right. Determine net income. Even if we show up with AKs, one of the stronger hands in our 3betting range, Brian is folding hands like 66 (52% equity), AQo (25% equity), and AJs (29% equity). 049 = 4. If you divide 100,000 by 200,000, you get 0. Villain must call Bet or fold. It's very important to remember that the minimum fold equity formula produces simply an estimate which we must adjust based on a range of factors. Equity on the Flop = 9 outs x 4. For example, if you go all-in preflop with Pocket Aces and another player calls with Pocket Kings, there is. Let us say that you have 0% equity going all-in with 100 into a pot of 100. For you to gain fold equity you must bet or raise – an opponent cannot fold to no bet. Return on Equity (ROE) = Net Income ÷ Average Shareholders’ Equity. , to make it a function of how much a firm reinvests for future growth. Often times we size our bets in such a way that will make our opponent fold. . Now would be a good time to switch gears and benefit from your confused opponents paying you off light. It is usually expressed as a percentage (e. Step 2: Next, determine the total number of shares of the company before the issuance of new shares, and NT denotes it. weighted average cost of capital formula of Company A = 3/5 * 0. Definition of fold equity. Fold equity: Fold equity is simple; your raise tells the other players that you have a strong hand. It is the equity a player can expect to gain due to the opponent folding to his or her bets. An important thing to mention here is that sometimes we can encounter a fold equity equation that follows the formula: [the probability of opponent folding] * [opponent’s equity in the hand]. . Formula: Total amount won: Att To Steal (Attempted to Steal) Description: The percentage of times the player made a steal raise (attempted to steal the blinds) when they had the opportunity; i. Flop :8c :9h :Th ($240) Vs a SB range of 22-JJ, Aqo+, AJs, KQs we have about 35% equity on the flop. Fold equity คือโอกาสที่ผู้เล่นจะ fold เมื่อเจอ bet หรือ raise เช่น ถ้ามีโอกาสที่คู่แข่งจะ fold เมื่อเจอ bet ใน pot $100 อยู่ 33% เราจะมี fold equity 33% (เท่ากับ $33) ใน. The fold equity equation is a simple calculation that involves two main components: the likelihood your opponent folds and the potential gain in equity if they do fold. A total bluff has absolutely no chance of winning the hand if called. Subscribe to Updates Get the latest creative news from FooBar about art, design and business. Given a dividend per share that. #1 Nearly every bet we make in poker has something to do with fold. Fold equity is a simple concept. 66 = $97. Minimum Defence Frequency (MDF) 25% (1/4-pot) 80%. In poker, equity is the probability that you'll win a round. Equity denial is a concept I have been talking about for several years that has finally come to the forefront of poker thinking. Fold equity is a more elusory concept because we can’t truly know how often our opponent will fold. Putting these values in the formula for the required fold equity, you get: Required fold equity = $1 / ($1 + $1. These concepts are applied to gain insight to a given hand. Denying equity from worse hands that can outdraw you can be thought of as a form of fold equity. This is a major leak for newer players. Firstly, it’s an EV equation, not an equity equation. Fold Equity is the part of the pot a player can expect to win because an opponent folded to their wager. It’s that simple! Let’s look at an example to calculate the poker equity using the rule of 4 and 2. Kioutsoukof-tm-9IKHHQGv. Good! I wanted to know what is the mathematical formula to estimate my range of push with 8bb if the hand comes to me folded and I'm cut off. PIK Interest = PIK Interest Rate (%) x Beginning of Period Balance of PIK Debt. 5%) = 79% on average each blind needs to fold. The minimum defense frequency is always one minus Alpha and in that case, it would equal 3/4. EV = (%W * $187) – (%L * $125) %W in this spot is how often the button would fold against our bet.