Abstract. The UCT algorithm has been exceedingly popular for Go, a two-player game, significantly increasing the playing strength of Go programs in a very short time. This paper provides an analysis of the UCT algorithm in multi-player games, showing that UCT, when run in a multi-player game, is computing a mixed-strategy equilibrium, as opposed to maxn, which computes a pure-strategy equilibrium. We analyze the performance of UCT in several known domains and show that it performs as well or better than existing algorithms.