Wednesday, April 28, 2010

Two Tournaments Today

Event #16 $216 7-game mixed games is underway. This is a mix of all the HORSE games plus NL hold'em and PLO.

At 3 I have $216 "cashout." I've never played a cashout tournament before, but here is how I understand that it works. Of my buy in $16 goes to the house, $100 goes to the main prize pool and $100 goes to the cashout prize pool. At any time, but only one time, during the tournament you can "cashout" half of your chips and get paid for their value. For example. If you start the tournament with 5,000 chips on hand 1 you could sell off 2,500 chips for $100 and be left with 2,500 chips. Or if you had 20,000 you could sell off half for $400 and be left with 10,000. I'm not sure what the optimal strategy is, but I hope I'll know the time to cashout when I see it.

1 comment:

Anonymous said...

The optimal strategy is to not cashout. The remaining cashout pool is split based upon chip stack to the people who make the final table.

Basically, there is a huge pay jump for making the final table. If you cashout, you loose any value you had in the tournament ($100 in this case)

It kinda plays like a satellite for the last 9 players, then like a normal final table once you make it there. There is a huge incentive to make the final table, though, especially in a large field like that should be.