Swap Equivalent Calculator

Swap Equivalent Calculator Info

The swap equivalent calculator calculates the minimum amount of certain money that you should accept to cash out. The result is given as a percentage of its EV.

Probability: The probability the bet wins.
Payout: The payout of the bet as a percentage of your bankroll.

Math

s = \frac{(1 + w)^{p} - 1}{p w}

s: Swap equivalent (percentage of your EV where you'd be indifferent to cashing out or not).
w: The fraction of your bankroll represented by your existing bet.
p: The probability the bet wins.

Book Links

But How Much Did You Lose? (chapter 15)

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