Poker Prize Money Calculator

Use this poker prize money calculator to determine your total winnings from tournament payouts, buy-ins, and rake. Simply enter your tournament details and get an accurate calculation of your net prize money.

How to Use This Calculator

To calculate your poker prize money:

Enter your tournament buy-in amount
Select the number of players in the tournament
Enter your finishing position
Enter the rake percentage (if applicable)
Click "Calculate" to see your net prize money

The calculator will show you your gross winnings, rake deductions, and net prize money. You can also view a breakdown of how your prize is calculated.

Formula Used

Prize Money Calculation

The net prize money is calculated using the following formula:

Net Prize Money = (Gross Prize - (Gross Prize × Rake Percentage)) - Buy-in

Where:

Gross Prize = Prize amount based on finishing position
Rake Percentage = Tournament rake percentage (e.g., 5% = 0.05)
Buy-in = Amount paid to enter the tournament

The gross prize amount is determined by the tournament's payout structure, which varies by the number of players and finishing position.

Worked Example

Let's calculate the prize money for a player who finishes 3rd in a $100 buy-in tournament with 9 players and a 5% rake:

Gross prize for 3rd place: $1,200
Rake deduction: $1,200 × 0.05 = $60
Net prize before buy-in: $1,200 - $60 = $1,140
Final net prize: $1,140 - $100 = $1,040

So the player's net prize money would be $1,040.

Interpreting Results

The calculator provides three key figures:

Gross Prize: The total prize money before any deductions
Rake Deduction: The amount taken by the tournament operator
Net Prize Money: Your actual winnings after all deductions

Use these figures to understand your financial outcome from the tournament. Remember that poker is a game of skill and luck, and your net prize money can vary significantly based on these factors.

FAQ

What is included in the rake?

The rake typically includes a percentage of the total prize pool, which is collected by the tournament operator. This percentage varies by tournament and can range from 3% to 10%.

How does the buy-in affect my net prize?

The buy-in is the amount you pay to enter the tournament. It's subtracted from your net prize money to show your actual profit or loss from the tournament.

Can I use this calculator for cash games?

This calculator is specifically designed for tournament prize money. For cash game calculations, you would need a different tool that tracks your hourly rate and session duration.

Why does my net prize sometimes show a loss?

If your net prize is negative, it means your prize money was less than your buy-in. This can happen with lower finishing positions or in tournaments with high rake percentages.