Compare expected value between tournaments and cash games
EV = (Win Prob × Payout) - Entry FeeEnter your parameters
Expected value comparison
Break-Even Rate
55.6%
EV Difference
+$0.80
Expected ROI
-1.0%
Different skill levels
TL;DR summary
GPP vs Cash EV comparison helps you decide between tournament and cash game formats. Cash games offer ~1.8x payout for top ~45% with lower variance. GPPs offer huge payouts but lower ITM rates. Your expected value in each format depends on your edge - skilled players often have higher EV in one format based on their strengths.
Important things to know
Common EV questions
Expected Value is your average expected return per contest entry over the long run. Positive EV (+EV) means you expect to profit over time. Negative EV (-EV) means you expect to lose. EV = (Probability of Each Outcome × Payout for Each) - Entry Fee.
Your edge is how much better (or worse) you perform than average. If you win 55% of cash games (average is ~45% after rake), your edge is +10%. Track results over hundreds of contests to estimate your true edge - small samples are unreliable.
GPPs become more +EV when: you can consistently finish in top percentiles, your lineups are differentiated enough to hit top payouts, you have ownership leverage advantages, and variance tolerance allows for long losing streaks. Cash is often better for consistent but modest edges.
Rake (typically 10-15%) affects both formats but impacts differently. In cash games, it directly reduces your win rate needed. In GPPs, rake reduces the prize pool but the top-heavy structure means skilled players can still find +EV spots.
In cash games with 10% rake and 1.8x payout, you need >55.5% win rate to profit. In GPPs, the math is complex - you can profit with lower ITM rates if your big hits are big enough. Most profitable players have 5-15% edge over the field.