A few questions

[Buccaneer]

I have seen overlay discussed here and am not quite sure what it is. From reading and searching it seems like it is something like this: bet t50 to win t100 with a 50% win rate would be no overlay, bet t50 to win t500 with a 50% chance to win is an overlay of t450, bet t50 to win t500 with a 25% win rate is an overlay of t225. Is this the right idea or not.

I occassionaly play in single table trnys. Today I played in a multi. It was a only $1 and had about 140 people in it. I know it depends but will a $5+1 play much different than the $1.

How many times assuming normal play is it neccessary to risk ruin to in a $5 trny of about 150 players?

For a first trny book do I want to get Uncle Slanskys Trny Poker?

[KneeCo]

An overlay is nothing more than a guaranteed prize pool which is not met.

For example, Party has a nightly 40,000 guaranteed tournament which is 20+2$ to enter (20$ which goes to the prize pool).

Now, if less than 2000 people play tonight than there would be an overlay Party Poker would have to put up the cash to fill the prize pool to meet the guarantee.

Let's say 1000 people played, the prize pool created by players would be 20,000$ but since the 40,000$ prize pool is guaranteed, Party Poker would have to put up the rest.

This is great for players obviously because your getting more value out of your 20$ (in the example above it's as if you entered a 1000 person 40$ tournament for half price).

EDIT: I should mention that you wont find overlays at Party or PokerStars, there are so many players that the sites meet and exceed their guarantees all the time. Smaller, newer sites are the place to find overlays.

5+1 should usually be avoided cause your paying 20% rake which is a lot. That being said, assuming the same bumber of entries, a 5$ tourny would of course pay 5 times as much across the board as would a 1$.

[Buccaneer]

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An overlay is nothing more than a guaranteed prize pool which is not met.

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That was my second choice! Thanks