Single Table Step Tourney Plan

[djhak323]

Hey Guys,
This is my first post here so excuse me if this plan has been covered before. I've spent most of my time on Party playing the 6 max 10 20 limit tables, but recently have been doing the steps. So far, I have qualified for 5 of the 5th step tourneys for a total cost of 500 dollars, so I paid 100 dollars on average for each 1000 dollar tourney. Now I realize that I might have gone on a luck streak, but the point I'm trying to make is that once u get to the 1000, assuming that you are an average player there, you should return 1000 on average in the tournaments. (If you play it 10 times and are exactly average you will come in 1st 2nd 3rd and 4th once for a total of 10,000 divided by the 10 tourneys that u played). So since I'm assuming to take out 1000 over the long haul from each of the step 5 tourneys, when I make step 5 spending 300 dollars say, I view it as making 700. Is my reasoning flawed here? Because if it isn't, I figure this to be a better money making technique then any 10 20 game can be, and a lot more fun as well. Any thoughts, opinions, reactions are all welcome and encourage. Thanks a lot.

[Benholio]

The one hole in your theory is that you would be an average Step 5 player. The step 5 tourneys are loaded with the best SnG players in the world, who often buy in directly to step 5 just to take advantage of the lower level players who qualified.

Having said that, I'm sure that your EV from one of these is still well above $100 or $300. It is most likely NOT a full $1000 though.

[djhak323]

That is a good point, although I don't feel that they are so much better than me. But more importantly, as you alluded to, if I am consistently able to get to step 5 tourneys spending a minimal amount (which remains to be seen, althought I've gotten to five 1000 dollar tourneys spending very little) I would only have to average a return of 600 or 700 dollars per step tourney to make a nice profit.

[J-Lo]

[ QUOTE ]
That is a good point, although I don't feel that they are so much better than me. But more importantly, as you alluded to, if I am consistently able to get to step 5 tourneys spending a minimal amount (which remains to be seen, althought I've gotten to five 1000 dollar tourneys spending very little) I would only have to average a return of 600 or 700 dollars per step tourney to make a nice profit.

[/ QUOTE ]

I think u definetely underestimate the competition... These players play 3 or 4 of these at a time... This is their normal game... you are playing against pros, who most certainly have a large overlay in terms of skill...
Also have u accounted for the time u spent? How many hours did you spend to make it to this level, and how much money could u have made at the 10-20 games spending the same amount of time... If you are doing these for entertainment value then go for it, however, again i will tell you these players have mastered Party's blind structure and have it down to a science... If i were u i would do 1 of 2 things... if you wanna play STT, play the 20's, 30's, or 50's... playing these step 5's are just not worth it... and the other thing you could do is keep grinding the 10-20 game...

[Myst]

Yeah the main considerations here are hourly rate and variance. It is very possible that you can go thru many Step 5s would placing ITM once (some players here have gone thru 15-20 Step 5s without an ITM).

I would prefer to play a game with less variance if I were you.

[Insty]

[ QUOTE ]
... I've gotten to five 1000 dollar tourneys ...

[/ QUOTE ]

How have you done in them?

[djhak323]

So far out of the five I've played, one fourth and one third.

[CUonCRUISE]

You have a good plan, I'm doing the same. Don't tell everyone or they will cut into our profits! I don't feel it is that hard to cash consistantly with 4 spots paid. Matter of fact, I won my 1st 2-table step 5 as the shortstack on the bubble. I have a 3rd, 2 4ths and a 5th in singles. The other X-factor is playing so cheap takes the pressure off.