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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