Best strategy for Making Deals

With all thats happened at Party this weekend, I'd like to hear some opinions on the best way youve found to make deals at the final table. Do any of you make deals? If so, do you base it on the % of chips you have? I look at it like if i have 70% of the chips a fair deal would be to give me 70% of the remaining prize pool. Is this correct?

MDoranD

[OrangeKing]

[ QUOTE ]
With all thats happened at Party this weekend, I'd like to hear some opinions on the best way youve found to make deals at the final table. Do any of you make deals? If so, do you base it on the % of chips you have? I look at it like if i have 70% of the chips a fair deal would be to give me 70% of the remaining prize pool. Is this correct?

MDoranD

[/ QUOTE ]

That would be perfectly right if there was only one prize; however, the distribution of prize money changes things a bit.

For instance, imagine you're heads up in a tournament that offers $2,000 for 1st, and $1,000 for second. There's a $3,000 prize pool, and you have 70% of the chips. Obviously, you don't deserve $2,100 of the prize money. /images/graemlins/smile.gif

What you'd have to do in this situation is realize that you've both won $1,000 already, and that there's really only $1,000 up for grabs - of which $700 is your "fair" share. So you'd take $1,700; while your opponent gets $1,300. You might be able to negotiate for more if your opponent thinks you're much better, or doesn't know what he's doing.

With more than 2 players in the negotiation, it gets a bit more complex to find a "fair" agreement. Sklansky's Tournament Poker for Advanced Players has a good discussion on the topic, however.

[ QUOTE ]
For instance, imagine you're heads up in a tournament that offers $2,000 for 1st, and $1,000 for second. There's a $3,000 prize pool, and you have 70% of the chips. Obviously, you don't deserve $2,100 of the prize money.

[/ QUOTE ]

good point.

[ QUOTE ]
With more than 2 players in the negotiation, it gets a bit more complex to find a "fair" agreement. Sklansky's Tournament Poker for Advanced Players has a good discussion on the topic, however.

[/ QUOTE ]

I need to reread it apparently. Thanks for the input.

[pzhon]

[ QUOTE ]

With more than 2 players in the negotiation, it gets a bit more complex to find a "fair" agreement. Sklansky's Tournament Poker for Advanced Players has a good discussion on the topic, however.

[/ QUOTE ]
Actually, it doesn't have a good discussion of this.

I recommend looking at the discussions of the Independent Chip Model in the MTT and 1TT forums.

[threeonefour]

the one that i use a fair amount is the 'chip count chop'
if there are 4 people left you pay each one of them the 4th place prize money, then the remaining money is split up according to the chip counts.

this will give you a silly result on occasion. but the occasions where you get a silly result are ones where i am not going to chop. ie when there are 3 baby stacks and one stack that has 95% of the chips. i don't really like chopping there regardless of which stack i am.

[Rococo]

All of these chip count chops assume that the player with 60% of the chips has a 60% chance of winning. Even if all of the players are of equal skill, I'm not at all sure that this is correct. That being said, I don't know what the actual percentage chance of winning in this situation would be.

[threeonefour]

[ QUOTE ]
All of these chip count chops assume that the player with 60% of the chips has a 60% chance of winning. Even if all of the players are of equal skill, I'm not at all sure that this is correct. That being said, I don't know what the actual percentage chance of winning in this situation would be.

[/ QUOTE ]

if players are of equal skill and they play big and small stakes equally well then it is true.