Are there undefined equities in backgammon?

Backgammon bots presuppose that every backgammon position has a well-defined equity, which in the case of a money game means the expected payoff if both sides employ “perfect play” (or more accurately, Nash equilibrium play). However, if the cube value is truly unlimited, then it is not clear that the equity of an arbitrary position in backgammon is always finite. In October 2026, I wrote an article on this topic.

Does Every Money-Game Position Have an Equity?

The bottom line is that very likely, the answer is no, not every money-game position has an equity. However, the above article, though it carries the analysis further than ever before, falls slightly short of a rigorous mathematical proof. Prior work on the topic includes:

Perpetual Redouble? by Bill Kennedy, 1982.
Riding the Tiger, by Bob Floyd, 1982.
Undefined Equity, by Douglas Zare, 2004.
Post 1 and Post 2 by me on BGOnline, 2017. These posts are not quite correct, but the errors are corrected in my October 2026 article.
Undefined Equity, by Tom Keith, 2017.


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