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Poker Articles

If you want to keep up with all the strategy articles I've written, then look no further! Sort by topic, publication date, or alphabetical order. Some articles are available here in full. For others, check out the abstracts, and use the citations to obtain the articles in full.

Independent Chip Modeling Part 1: Derivation and Sample Analysis

Poker Helper, Apr 2007

In cash games, your monetary expectation value (EV) can be directly equated to your chip EV (not accounting for image equity on future hands). Many tournament players don’t go beyond considering chip EV (cEV); however, in a tournament, your monetary EV (mEV) is technically the following:

P(1st)(Payout For First) + P(2nd)(Payout For Second) + … + P(nth)(Payout for nth)

To accurately assess tournament decisions, we need a way of projecting finishing distributions based on relative stack sizes. Assuming everyone in the tournament is of equal skill, a mathematical model exists that does just that: independent chip modeling (ICM).
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Read the rest online at Poker Helper.