On other threads, we have recently discussed EV (Expected Value) in length with a resulting general opinion that the term EV is very misleading and subject to misuse. So why not invent a new term to replace some of the misuse and misunderstanding of EV? I suggest SV (Seat Value) be used instead of EV in those cases where we actually mean the value of seat in a tournament. EV would not die away but it could then be used to designate something that is truly closer to what one would expect EXPECTED VALUE to mean. If we start using SV in this forum and in articles published in places like "BJ Insider" maybe it'll catch on. Probably not but its worth a shot.
I like SV term I thought that when it comes to terminology of tournament players’ edge and expectation there are so many possible angles to consider that without words: personal/average/average without me, for this round, if this or that, narrowing it down indicating intentions of actions, inclusiveness and scope of facts leading to and required to perform afterwards, etc., it would be difficult to coin new words -terms being universally understood in identical way. “EV” is most commonly used phrase and usually means an expected win, then it is referred to other aspects. For example it could be used like this: the Ev for this tournament is $400, the entry fee is $500, but I am twice as good so it is worth to me about $300; or the EV is about $4K but they expect me to give them action of $5K theo but I think it should not cost me more than $3K, so I will play. I usually distinguish and state clearly between EV for an average player for the tournament, and personal EV, which is simply said as “my EV”. That can be inclusive to a various degree of many associated cost (tips, hotel, car rental, travel, cost of lost earnings if we were working instead of playing, etc.) I like SV (Seat Value) a lot, mainly for three reasons. Seat is impersonal, so it has to represent an average player with average conditions in regular circumstances. Also, seat represent action of seating and starting playing at a specific entry point, so it intuitively means that SV at the begging of the tournament will be different than SV of a person (seating) to play in an advanced round. And thirdly, SV term is rather dry and simple, so it refers to winnings only no other costs or implications needed. Good job toolman1! S. Yama
Kudos to Toolman for an excellent idea (SV instead of EV). The discussions on other threads have mostly blown right past the fact that the final EV of a tournament is a bit different for everyone. As SYama pointed out, EV for each individual will change due to variations in expenses outside of the tournament venue itself. For example, I am forced to pass on the upcoming LVH "Suited BJ" event because the outside expenses would put my own EV significantly upside-down. Horribly expensive plane tickets, 2 or 3 days of lost work, etc. all must be considered. The EV for a Vegas local would be very good for that event. I hope that Toolman's "SV" idea catches on and becomes the standard in the game. Everyone can take that value and adjust it for their own circumstances, including their perceived skill level. Good job, Toolman! :cheers:
