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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 2: Positive Chip EV Doesn’t Mean Positive Monetary EV

Poker Helper, Apr 2007

The following expression is your monetary EV (mEV) in a tournament (the amount of money you expect to make on average in the long run if you were to play the tournament repeated times):

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

Assuming that all the players in the tournament are of equal skill, independent chip modeling (ICM) calculates your finishing distribution solely as a function of everyone’s stack size. Many players play as though all positive chip EV (cEV) decisions are necessarily +mEV. ICM shows that this is not actually the case.
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Read the rest online at Poker Helper.