Expected value is the statistical long term value coming from a particular action for a particular player. This value can be used to decide between a call and fold, or it may assist in deciding the amount one should bet.

Expected value is typically expressed as a dollar value, or chips value, depending on whether a ring game or tournament is being played.

Positive/Negative Expected Value

With respect to return on investment an action is said have a positive expected value if the return is greater than zero and a negative expected value if the return is less than zero. This may be confusing since the expected value itself is always a positive number, and positive/negative expected value actually refer to the return on investment.