Re: \"run it twice\"
A win and a chop is 3/4 to whoever won the first one. The rest of your assumptions are correct.
Something else you can do is make a deal where you figure how much equity each player has at that moment and chop the pot accordingly. For example, if somebody wants to chop who has flopped a set, moved in, and called by a open ended straight flush draw. This requires you to know what the odds are in a particular situation off the top of your head, and another player who knows he's got the worst of it and is willing to take a portion of his equity back. In my regular game, nobody gets it in on a draw with any illusions their hand is any good, they're just trying to bad beat somebody so they can rub it in.
Good luck.
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