We present the results of a summer 2021 REU project with students Luca Castronova and Yijia Chen on a game theoretic analysis of the poker variant "Guts''. This is interesting as a streamlined poker version that is widely played- also due to the feature of repeated play with increasing stakes, i.e., its nature as a noncontractive recursive game. Also interesting is that we carry out the analysis for arbitrary numbers of players n, finding an explicit symmetric Nash equilibrium, but showing that it is not a strong equilibrium: that is, it can be beaten by a coalition of players 2-n.
