Swapping

  • A term for players in the same tournament or cash game agreeing up front to exchange a certain amount of their win percentage or equity in the tournament in an attempt to reduce variance. Also called crossbooking.
    This is most likely used by players that are friendly and view each others game to be close in skill level or in edge for the tournament or cash game which is to be swapped/crossbooked.

    It is different to staking someone, as both are just agreeing to swap a part of the buyin of equal value.

    It is very common in highstakes poker games with very small edges for a lot of participants to crossbook their action.

    Example
    Player A and B agree to swap 5% of their equity for the tournament

    Scenario A:

    Player A cashes the tournament for $1000
    Player B cashes the tournament for $500

    Player A pays Player B 5% of his $1000 winnings, which means $50
    Player B pays Player A 5% of his $500 winnings, which means $25

    So effectively Player A takes home $975, Player B $525

    Scenario B:

    Player A cashes the tournament for $1000
    Player B does not cash

    Player A pays Player B 5% of his $1000 winnings, which means $50
    Player B has 0 winnings, so he pays nothing to Player A

    Player A goes home with $950, Player B goes home with $50

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