Equity
Your equity in a pot is the share of it you would win on average if the remaining cards were dealt out and nobody folded.
It is a number about cards, not about money already spent. A hand with 35% equity in a pot of 200 is worth 70 on average, no matter who put the 200 in or how it got there.
Equity against one known hand can be counted exactly. Against an opponent whose cards you cannot see, it is equity against their whole range, which is why the same hand can be strong against one player and weak against another on the same board.
an example
your cards
board
You have no pair, but nine hearts left in the deck would give you the best possible flush. With two cards to come that is 35.0% equity against a hand you are currently losing to, worked out as 1 minus 38 in 47 times 37 in 46.
This example is made up. The real one is in your own hand history: find equity in your own hands and see how often it came up and what it cost you.
related terms
Pot odds
Pot odds are the price you are offered on a call: what you have to put in compared with what the pot would be worth to y ...
Outs
An out is a card still in the deck that would give you the best hand, and counting them is how you turn a draw into a nu ...
Fold equity
Fold equity is the part of a bet or raise that earns its money from the chance the opponent folds, rather than from the ...
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Knowing the word is not the same as seeing it.
Forty hands against a bot, no account, and your own hand history at the end.