Re: Can someone please check my work?
When our hero finishes in the money he recieves:
4*20 + 2*30 + 1*50 / 7 =
80+60+50 / 7 =
$27.143
his outlay is $11, so to be break even, he needs odds of 27.143:11 or 2.468-1
or 40.53%
If this is right, wouldn't a player finishing ITM 50% of the time have a huge +EV?
This is correct. The tournament forum often quotes (and my figures fall into the right ball park) 50% ROI (Return on Investment) for a strong player in these tournaments, which is unsurprising considering you are only being raked $1 for the play of 80 hands or so when you win.
In the $11 tourneys a strike rate of 50% is not uncommon amongst pro players, which is why tourney players can afford to play at lower limits than ring players.
Good Luck.
Lori
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