Would you make this Add-On?

[mr_jmac]

Hey,

Grand American Poker Classic (Tunica)
$200 + $30 NL HE
Starting Chips = 5000
Add-on = 2000 chips for $200

At the break with blinds going up to 300 and 600 I had
T17350.

Is it correct to make the add-on? I have never played a tournament where the add-on price was the same as the buy-in amount and you received less chips. If the add-on was for 5000 chips would it be correct to make it?

Thanks,
JM

[Msogard]

I wouldn't. 2,000 is just too few chips to be spending another $200 on when you have 17,000. I think it's important to know the average stack size when deciding whether or not to add-on. If it were 5,000 chips i'd say do it, just because it's a significant amount of chips in relation to your stack. But that's only if I were below or around the average stack, and was one of the better players in the tournament.

[hurlyburly]

I use a 2x average to determine whether to take the addon, and this adjusts compared to my standing at the current table. If you have the table pretty well covered (>20% of the chips) and you don't look to be breaking up soon, you might skip the add-on and make it up with a few extra steals.

Did you budget for the add-on before the tourny began? Usually it's a good idea to follow through with your initial plan, just to avoid second guessing yourself if things get rocky.

I hope someone has a more mathematically sound answer, but this has been a good strategy for me.

[schwza]

[ QUOTE ]
I hope someone has a more mathematically sound answer, but this has been a good strategy for me.

[/ QUOTE ]

yeah, here's my mathematically sound answer: it's a rip-off. you're not getting anywhere near the chip/$ you initially got. let others juice up the prize pool with their minimal stack increases. i would not take this add-on at any stack level unless i had a big last-longer bet going.

[Gebre]

Assume 100 entrants

Prior to add-on
Total chips in play: 500,000
Your share: 17,350/500,000 = 3.47%
Total purse: 20,000
Your equity: .0347 * 20,000 = $694

After add-on
Total chips in play: 502,000
Your share: 19,350/502,000 = 3.85%
Total purse: 20,200
Your equity: .0385 * 20,200 = $778.63

The value of the added equity from the additional chips is $84.63, and so not worth the $200 cost. For 5,000 chips, a similar calculation would show that it would be worth the cost.