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Tournaments refer to poker games where players play until they run out of chips, with the last person having chips being the winner, the second to last taking second place, and so-on. There is no direct correlation between chip value and money - rather, players are paid based on their finish in the tournament.
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Studying poker math - is it worth it?
The only math you really need to know, in holdem, is:
O = number of outs,
N = number of streets left.
O x N + 1 = chance of hitting winning card.
If chance of hitting the winning card is greater …