Standard Deal

Overview

A Standard Deal (often simply called a "deal") is a voluntary agreement among the remaining participants in a poker tournament to divide the remaining prize money according to a mutually acceptable formula, rather than playing out the tournament to its natural conclusion. This practice is most common at final tables, especially in large multi-table tournaments (MTTs) where the payout jumps are significant and variance is high.

Common Methods

• Chip Chop: The simplest method. Players receive a share of the prize pool proportional to their chip count. For example, if a player has 40% of the chips in play, they get 40% of the remaining prize money. This method ignores the payout structure and future blind increases, making it less precise.
• ICM Deal: The most accurate and widely used method. ICM (Independent Chip Model) calculates each player's equity in the tournament based on chip counts and the remaining payout structure. An ICM deal divides the prize pool exactly according to each player's mathematical expected value. This method is considered fair and is the standard for serious deals.
• Customized Deal: Players may negotiate a modified split based on factors like table image, skill, or personal preferences. For instance, a short-stacked player might accept slightly less than ICM equity to secure a certain amount.

When and Why Deals Are Made

• Reduce Variance: Particularly in high-stakes tournaments, a deal can lock up a guaranteed payout and avoid the risk of a bad beat costing thousands of dollars.
• Time Constraints: Deals are common in live tournaments when players are tired or when the tournament is running late. An agreement speeds up the conclusion.
• Mutual Benefit: All players get a more predictable outcome, and the tournament ends sooner. Casinos and card rooms often accommodate deals as long as all remaining players agree.

Rules and Etiquette

• Unanimous Consent: Every remaining player must agree to the deal. If even one player objects, play continues.
• Play Continues for Bracelets/Titles: In many major events like the WSOP, players may make an agreement to split the prize money but still compete for the official title, trophy, or bracelet. In such cases, a certain amount of prize pool (often the top prize or a small portion) is set aside for the winner of the actual play.
• No Collusion: Deals must be transparent and not involve side agreements that disadvantage other players.

Example of an ICM Deal

Suppose three players remain with chip counts: Player A (50%), Player B (30%), Player C (20%). The remaining prize pool is $100,000 with payouts of $50,000 (1st), $30,000 (2nd), and $20,000 (3rd). Using ICM, each player's equity would be calculated: A ≈ $41,600, B ≈ $33,300, C ≈ $25,100. A standard deal would pay each player those amounts.

Related Terms

• ICM (Independent Chip Model)
• Chip Chop
• Deal Making
• Saver

Conclusion

The Standard Deal is a practical tool in tournament poker, allowing players to manage risk and secure equitable payouts. While not always used—some purists prefer to play for the title—it is a widely accepted part of the game.