Concealed hands make for a much better game; hence the popularity of poker games with hidden information. We now consider situations where only one hand is revealed, while the other hands are some sort of distribution. For these cases we can use the expected value techniques previously discussed to arrive at the best play, if we can come up with an accurate characterization of the opponent's strategy. For the time being, we will not concern ourselves with our opponent's changing strategies, but simply assume that we are able to estimate reliably how he will play his various hands. We will return to the idea of players adapting their strategies and the value of an entire distribution changing as the result of different strategies with individual hands at length in later chapters. But before we get too deeply into analyzing particular games, we can discuss a concept that plays a valuable role in attempting to analyze games of more complexity. This concept is of particular value in games such as holdem. This value has two components; one is what we frequently call showdown equity, which is the expectation that each hand has if we simply stopped the betting right now and dealt all the cards out immediately. The other is what we call ex-showdown equity, the expectation that each hand has in the post-flop betting. --

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