What equity does and does not tell you: a small pair is an equity dog in a multiway pot yet a fine call, because its value is the set it flops, not its raw share. The tool blends simulated equity with that structural read, weighting implied odds more deep and in position, and raw equity more when short. Opponents default to a realistic ~40% range, which is what reveals domination and the difference between a hand you raise and one you only steal with. Fair share is break-even; clearing it is the bar to keep playing.