Poker term
Swap
An agreement between two players in the same tournament to exchange a percentage of each other's winnings, reducing both players' variance. Swaps are informal and usually small (5–10%).
Frequently asked questions
What is a swap in poker?
An agreement where two players each take an agreed percentage of the other's winnings in an event — commonly 5 or 10 per cent each way.
Why do players swap?
It reduces variance without giving up expected value, provided both players are roughly as good as each other. Swapping with a weaker player costs you money; swapping with a stronger one is a gift you are receiving.