Tournament Payout Calculator
Estimate your expected value in a poker tournament from the buy-in, the rake and your skill edge over an average entrant. Use it before registering to see if a tournament is +EV for you.
Last updated: September 2026
Formula below · 1 source (Wikipedia) · Updated Sep 2026
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About this calculator
This calculator estimates your expected value (EV) per tournament entry. The rake is removed first, so only buyin_amount × (1 − rake_percentage / 100) per entrant goes into the prize pool. An average player expects to win back exactly that share: the field's prize pool divided by the number of entrants. Your skill edge multiplies this: 1.0 is an average entrant, 1.3 means you expect 30% more prize money than average, 0.8 means 20% less. EV = buyin_amount × ((1 − rake/100) × skill_edge − 1). The field size and the number of places paid change how often you cash and how swingy the results are, but not this average, so they are not inputs. An average player always has a negative EV equal to the rake; you need skill_edge above 1 / (1 − rake) (1.11 at 10% rake) to break even.
How to use
Suppose a tournament has a $100 buy-in with 10% rake and you estimate your skill edge at 1.3. Prize-pool share per entry = $100 × 0.90 = $90. Your expected prize = $90 × 1.3 = $117. EV = $117 − $100 = +$17 per entry. An average player (1.0) has EV = $90 − $100 = −$10, the rake. With the default inputs ($55 buy-in, 10% rake, average skill) EV = $55 × (0.9 × 1.0 − 1) = −$5.50.
Frequently asked questions
What does a positive expected value mean in a poker tournament calculator?
A positive EV means that, on average, you expect to profit from entering the tournament over a large sample of similar events. It does not guarantee you will cash in any single tournament, because variance is high in poker. However, consistently playing +EV tournaments is the foundation of a winning long-term strategy. The larger your skill edge and the softer the field, the higher your EV will be.
How does rake percentage affect my tournament expected value?
The rake is the fee taken by the house before the prize pool is distributed. A 10% rake on a $100 buy-in means only $90 goes into the prize pool. Higher rake directly reduces the total money available to winners, lowering every player's EV. Serious tournament players always compare rake percentages across venues — even a 5% difference can turn a marginal +EV spot into a losing proposition for average-skilled players.
How should I estimate my skill edge for a poker tournament?
Your skill edge is a multiplier on the prize money an average entrant wins back. A value of 1.0 means you are exactly average; 1.2 means you expect 20% more prize money than an average player would. You can estimate it from your historical ROI in similar tournaments: skill edge = (1 + ROI) / (1 − rake). For example, a long-run ROI of +20% at 10% rake gives 1.2 / 0.9 = 1.33, and a break-even record gives 1.11. Be honest and conservative; most recreational players should start at or below 1.0 until they have a large sample.