Reviewed by: David Chen, CFA
Expert analysis for complex financial and probability scenarios in gaming.
The Pot-Limit Omaha (PLO) Equity Calculator helps you quickly determine the minimum winning probability (Required Equity) needed for a call to be mathematically profitable, as well as the Expected Value (EV) of your decision.
PLO Equity Calculator: Required Equity & EV
Required Equity:
—Expected Value (EV):
—PLO Equity Calculator Formula: Required Equity (R)
R = Bet Size / (Pot Size + Bet Size)
This formula calculates the minimum percentage of the time you must win the hand to break even on your call.
Formula Sources: PokerNews Pot Odds Guide, The Poker Bank EV
Variables
- Current Pot Size ($): The total amount of money currently in the pot before you make your decision.
- Bet Size to Call ($): The amount of money you must commit to stay in the hand.
- My Estimated Winning Probability (%): Your calculated probability of winning the pot (equity). This is used only to calculate Expected Value (EV).
- Required Equity (R): The break-even percentage (your decision should only be a call if My Estimated Equity > R).
- Expected Value (EV): The average amount of profit or loss you expect to make on this call over the long run.
Related Calculators
What is PLO Equity?
In Pot-Limit Omaha (PLO), equity represents your percentage chance of winning the pot given your hand and the current board, compared to your opponent’s range. Because PLO hands run much closer than Texas Hold’em (often 60/40 or 55/45 even when one hand looks dominant), calculating and understanding equity is the bedrock of profitable play.
The primary purpose of using a tool like the PLO Equity Calculator is not to run complex hand-vs-range simulations (which require advanced software), but to quickly translate the pot size and bet size into a tangible “Required Equity.” This number gives you a clear threshold: if your hand’s actual winning probability is lower than the Required Equity, the call is mathematically incorrect.
Furthermore, Expected Value (EV) is the true measure of a decision’s profitability. A positive EV means that if you make the same decision thousands of times, you expect to profit the corresponding dollar amount on average. Knowing your EV is crucial for making marginal calls and understanding long-term profitability in PLO.
How to Calculate Required Equity (Example)
Here is a step-by-step example using the Required Equity formula.
- Define the Scenario: The Pot Size (P) is $200. An opponent bets $100, meaning your Bet Size to Call (B) is $100.
- Determine the Total Pot: The total pot, if you call, will be the original pot plus the opponent’s bet plus your call: $200 + $100 + $100 = $400.
- Apply the Formula: Required Equity (R) = B / (P + B). Wait, the pot size used in the formula is the pot *before* your call, but the required equity is relative to the total money invested *including* your call. The correct calculation is: R = Call Amount / (Pot Before Call + Call Amount). $$R = \frac{\$100}{\$200 + \$100} = \frac{100}{300} = 0.3333$$
- Interpret the Result: The Required Equity is 33.33%. You must win the hand more than 33.33% of the time to justify calling the $100 bet.
Frequently Asked Questions (FAQ)
What is the difference between Pot Odds and Required Equity? Pot odds are the ratio of the potential profit to the amount required to call (e.g., 3-to-1). Required Equity is simply the percentage equivalent of those odds, which is the direct break-even winning probability needed.
When is the EV calculation most useful in PLO? The EV calculation is most useful when you have a close decision on the river or a marginal call on the turn where you can confidently estimate your equity. It quantifies the long-term monetary impact of that specific decision.
Can this calculator determine my actual hand equity? No. This calculator only determines the *minimum required* equity based on pot size and bet size. To find your *actual* equity, you need a full simulation tool that processes your hand and your opponent’s likely holdings.
Should I always fold if my equity is less than the required equity? In theory, yes. In practice, you might still call if you believe you have strong Implied Odds (i.e., you expect to win much more money on future betting rounds if you hit your hand) or if you are considering bluffs or fold equity.