Quote Originally Posted by spoonitnow
Okay so a lot of you seem to be struggling a bit with this (which is evident since you're all giving different answers) so I'm going to give you a hint which also answers the extra credit; all three of these questions can be answered in terms of two things: your chance of winning and your payoff odds (your risk/reward ratio). Now let's see if you guys can all go back and rewrite your answer in terms of the two things I've listed here. Consider this an exercise in clarity.
Great way to put it, exercise in clarity. I think I have some of the 'feel' but not the logic behind why.

Let me try to be clear:

1. How do I determine if a call is +EV?
The call is +EV when my odds of winning are better than the price to bet/call (example, 1.00 pot requiring .10 bet, means I need chance of better than 1 in 10 of winning to make it +EV), thus meaning I need to either already be winning or have at least 5 outs on the flop (48 unknown cards, 10% of that is 4.8, thus 5 outs) to be +EV to call a .10 bet in this example.

2. How do I determine if a value bet (or raise) is +EV?
The value bet is +EV when my chance of winning the hand by placing the bet exceed the odds that I am ahead or can improve combined with the odds that opponent will fold the hand right here.

3. How do I determine if a bluffing bet (or raise) is +EV?
Same as a value bet. I make money when the opponent folds or makes a mistake by calling the bluff (even when opponent is ahead, but the pot is offering him the wrong odds against the range I am representing).

Is that any better?