MCU poker tip: Tournament chances

If all players are equal, the odds against you winning first place in a poker tournament corresponds to the amount of money you must still gather vs. the amount you already control. For instance, if ten opponents each have $500 in chips and you have $1000 in chips, it’s 5-1 against you winning the tournament. That’s because there’s $5000 you still must win weighed against the $1000 you already have. (Note that in real life tournaments, this estimate will be imperfect for several reasons. The most important is that players who can go all-in have a better chance of winning pots.)

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Mike Caro

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Known as the “Mad Genius of Poker,” Mike Caro is generally regarded as today's foremost authority on poker strategy, psychology, and statistics. He is the founder of Mike Caro University of Poker, Gaming, and Life Strategy (MCU). See full bio → HERE.

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