Re: What does Ciaffone mean by overlay?
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hahahah maybe i'll just keep my mouth shut, but what is incorrect about it? now i'm curious as this was the way I always understood it.
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Basically:
If you are paying 1dollar into a 1dollar tournament with a gauruntee prize pool of 100$, and there are 100 players, it's break-even. 100/100 = 1, you're paying 1, it's 1:1
Now, 50 players die, (I had a bad day) and the tourney is still gaurunteed 100 payout. 100/50 = 2, you're paying 1, now 2:1. So you're getting double value, or 100%, not 1%.
I believe a 1% edge would be 99 players with 1 free dollar.
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