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1. A poker/gambling term, short for 'Expected Value'. Basically means how much you can expect to win at any gamble. For example, if you tossed a coin and I gave you a dollar if you flipped a head, then your EV is 50 cents. Often preceded by 'positive' or 'negative' where the former implies it is a good situation and the latter a negative one. 2. As above but also applied to random everyday situations where the outcome is unknown.
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