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Your opponent is bad, and is playing a single heads up match against you for $1000, then will go home. In the first hand your opponent open shoves and flips over his hand. You look at your hand and calculate you have a 51% to win the tournament if you call. Should you? The quick answer is yes, calling is clearly +EV. However, it is probably more +EV to ...


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In this instance, it looks like the author is using the term "volatility" as a way of describing "variance" (or as a replacement for the word). A short definition is included in your quote, but another way I would put it is "the amount in which the outcome in a particular hand could vary". The calculation comes from statistics, ...


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There's nothing in either of your hole cards that improves what's on the board, so you both have the same best hand and you split the pot.


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