Deal Making Question
 

HU at the end of a tournament. I have 51k chips and he has 18k chips, he plays very passively and bad but blinds are upto 300/600 with antes and it seems like he has sped up a little in the last few minutes. I don't feel like taking the variance of this tournament either. 2nd place currently gets 2.1k and first place gets 15k (monte carlo satellite). We make a deal, he gets the 2.1k for 2nd, and then he gets 2/7 the prize of first (18000/(18000+51000)) = 2/7... So he got 2.1k and 4.2k from me, and I got the trip.

Comments on this deal?

Re: Deal Making Question
 

He got 6.4k

1500+650+4250

Re: Deal Making Question
 

But he is guarenteed at least 2nd, so it seems to me in making a deal we need to disregard 2nd place and just look at first. Which is 15k, and then just take our respective chip counts and divide it up. Although that ignore the edge I have over him in skill...

Re: Deal Making Question
 

he got a nice deal..shouldn't he have gotten 2.1k + 2/7 times the difference between 1st and 2nd place $.

Re: Deal Making Question
 

I think you paid him too much... If he's a bad player, you have a great chance of winning, but I can understand that you don't like the variance, and he could still come back.

If he has 2/7 of the chips, then you should have offerred him 2/7 of the total 17.1k and not just given him the 2nd place $$$, that works out to about $4800, you could round that up to $5000 or down to $4500, but I think $6300 is just way too much considering the circumstances. If he was a bad player, then he also might have fallen for a worse deal instead of the fair deal; but I'm sure he was thrilled to get over almost 40% of the first place total with such a chip disadvantage... 30% would be generous.

Congrats on the win, though, I'm sure you were happy regardless!

-ChipsAhoya

Re: Deal Making Question
 

But I wasn't sure if chips equate directly to touranment ev, I thought maybe chips are more touranment ev+. But maybe not because it's winner take all, I don't know, I'm not good with deals.

Re: Deal Making Question
 

[ QUOTE ]
But he is guarenteed at least 2nd, so it seems to me in making a deal we need to disregard 2nd place and just look at first. Which is 15k, and then just take our respective chip counts and divide it up. Although that ignore the edge I have over him in skill...

[/ QUOTE ]

he is not the only one guarnteed at least 2nd place $. that is why it should be 2/7 * (15000-2100) + 2100 = about 5700

Re: Deal Making Question
 

"Congrats on the win, though, I'm sure you were happy regardless!"

Heh, honestly I'm not happy with myself now with everyone telling me how bad this deal is.

Re: Deal Making Question
 

You are both guaranteed 2nd so you need to remove 2.1K from the first place prize then give him 26% (18/69=.26 not .28) of the remaining 12.9K which is $3.35K.
Plus the 2.1K his final total should be 5.45K



Regards,
Woodguy

Re: Deal Making Question
 

Bruiser,

I'm going to say that assuming equal skill level, the deal was fair....

Re: Deal Making Question
 

you had ~70% of the chips:

so 70% of 1st place = ~$10.4k
30% of 2nd place - ~$.6k

you should've gotten ~$11k and he should've gotten ~$6k

Re: Deal Making Question
 

So the other guy should have gotten 5.45K instead of 6.3K. I don't see anything wrong with giving him a little more to reduce variance, but did you at least try to offer him less? He could have been so resigned to losing that he might have been happy with 5K total.

Re: Deal Making Question
 

MrX and WoodGuy, I don't understand your logic. I see that we should just discount 2nd place. But then 1st place is 15k, so isn't it 2/7 of that 15k?

Re: Deal Making Question
 

Here's the calculation of his EV done explicitly:
(18/69)*(15,000) + (51/69)*(2100) = 5,465

Re: Deal Making Question
 

[ QUOTE ]
Bruiser,

I'm going to say that assuming equal skill level, the deal was fair....

[/ QUOTE ]

But if these guys played 30 SnGs bruiser would def win at lest 20 of them. So he has a 2:1 advantage here. Plus paying $1000 over at equal level and offering a large amount first [img]/images/graemlins/frown.gif[/img]

Re: Deal Making Question
 

Ah that makes sense slickpoppa. thanks

Re: Deal Making Question
 

[ QUOTE ]

But if these guys played 30 SnGs bruiser would def win at lest 20 of them. So he has a 2:1 advantage here. Plus paying $1000 over at equal level.

[/ QUOTE ]


yeah, you're right...

Re: Deal Making Question
 

Congrats on the win bruiser. Quick question, what tournament was this? These figures your talking, are they real money? I have to ask because it's amazing your doing this well as young as you are.

Re: Deal Making Question
 

Thanks wacki. It's real money, or at least it's a real tournament entry to Monte Carlo that is worth $$.

Re: Deal Making Question
 

I'm a bit confused. You say first place was 15K, but you gave him 4.2k which leaves you with 10.8K. That is the equivelant of $10,800 dollars that you can only use toward a $15,000 entry fee. Am I correct?

You also say "I got the trip". Which I would assume is referring to the $10,800. Is this correct as well?

BTW Bruiser I am very impressed, winning that much money (even if it's only entry fees) is no small feat.

Sorry if I'm slow, I earned my Pooh-Bah in the politics forum. I need to quit politics and OOT..... The stupid election interfered with my poker studies. [img]/images/graemlins/mad.gif[/img]

Re: Deal Making Question
 

Glad to hear you won an entry bruiser. I won one this weekend also (FPP). We'll have to meet up when we get there! Congrats!!

Re: Deal Making Question
 

I think woodguy nailed it. You also where guareenteed the 2nd place...

Re: Deal Making Question
 

Congrats bruizer. Thats great esp coupled with the bahamas seat u won.

Someone mentioned ur age, How old are u if u dont mind me asking. Just wondering because im 19 and trying to gauge my skill level against other acomplished players around my age.

But again congrats.

Re: Deal Making Question
 

Anyone who is criticizing this deal is forgetting something - the "no deal" karma. It goes something like, if you don't deal, you will lose.

Although Bruiser was probably going to cream his opponent anyways, by making the deal he appeased the "Poker-powers-that-be." And we all know that is Lee Jones.

http://www.pages.drexel.edu/~pn25/LeeJonesToy.jpg

Re: Deal Making Question
 

Hawk and Animal? Legion of Doom? The Road Warriors? Good stuff.

Re: Deal Making Question
 

"I'm a bit confused. You say first place was 15K, but you gave him 4.2k which leaves you with 10.8K. That is the equivelant of $10,800 dollars that you can only use toward a $15,000 entry fee. Am I correct?"

Yes. I'm using some money out of my own pocket to do this.

"You also say "I got the trip". Which I would assume is referring to the $10,800. Is this correct as well? "

Yeah, although that 10k isn't cash, it's my entry fee. Thanks. I don't think I've seen you make any posts in any poker forums. [img]/images/graemlins/frown.gif[/img]