Like in poker for instance. If your opponent's all-in range is AA,KK, AKs, AK, AQs Calling with QQ-77, AJo, ATo, Axs gives you less live equity than calling with low suited connectors and gappers, 9To, 89o, etc.
Live equity is often more important than pure equity in zero sum games. This is why people adopt blatantly inferior strategies when faced with optimal strategies; the blatantly inferior strategy doesn't draw to the same outs as the optimal strategy.
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