Dead money in a poker game are all of the chips that are in the pot that don’t belong to any active player or are from a player who is likely to fold. This phrase can also be used to refer to a bad player who has low winning chances, as their money will stay dead on the table.
Dead Money Poker Example:
After your raise, several players who previously bet drop out. As their blinds and bets remain dead, you and the remaining players get improved pot odds, since you can win more money than just what all of you can contribute with your bets.
