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Tournament Equity

Tournament Equity

by Matthew Hilger |  Published: Aug 10, 2011

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This article includes excerpts from the latest Dimat release, The Math of Hold’em, by Collin Moshman and Douglas Zare. Your equity in a poker tournament is your “rightful share,” in dollars, of the prize pool. If the game were played out a million times from that point onward, your equity is how much you would win on average. Since chips change in value, your equity is not a linear function of how many chips you have. We will discuss a method of calculating equity as a function of chip stacks, the Independent Chip Model, in the second portion of this article. For now, just note that there are two common ways of expressing tournament equity. The first is dollars. When you purchase entry into the tournament, you are exchanging cash for chips. Cash is therefore a logical measure of equity. If everyone is equally skilled at the beginning of a ...


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