# Expected value in a poker tournament and cash game poker

In a poker game, cash chips correspond to a certain value of money. But in tournaments, the chips do not match the value of cash games. For example, if we were to play poker for cash, 100 euros would be equivalent to 100 chips, and if we win 1 chips, it would be equivalent to 1 euro.

Oh, let’s say we were playing in a 10-man tournament. The tournament would be: € 100 buy-in, starting chip size: € 100, prize money: € 1 – € 500, € 2 – € 300, € 3 – € 200, respectively. Only at the beginning of the tournament does one token correspond to one euro. If we win the first place, we would receive 1000 chips and a prize of 500 euros. This 1 token is equivalent to just € 0.5. The value of tokens has decreased. Thus, the value of the chips does not match the starting value during the tournament.

So, in a poker game, cash counting to a positive EV by tokens corresponds to a positive EV by money. And in poker tournaments, calculating a positive EV by tokens does not always correspond to a positive EV by money and can be negative.