Value of PartyPoker New STEPS tournament

[pokerraja]

[ QUOTE ]
[ QUOTE ]
sorry, im at work and have not been playing much party lately. could someone please chime in and explain what exactly are these new step tourneys? thanks in advance. CB

[/ QUOTE ]

http://www.partypoker.com/news/event...llenge-04.html

[/ QUOTE ]

thanks for the link. this game sounds very interesting. i think there is clearly some pos. value here.

[Wayne]

[ QUOTE ]
it'll be interesting to see how often the levels 5s begin (they need 20 people to play in a $1000+65 tourney).

[/ QUOTE ]

Roughly 100 level 1 SnGs will produce a level 5 SnG. I suspect there will be 1-3 level 5 SnGs per day, maybe more if it becomes popular. It might be profitable to buy in at the higher steps, making the level 5 happen even more often.

[M.B.E.]

Essentially it's a series of mini-super-satellites. (Excuse the oxymoron.)

I would be wary of collusion with that structure. Also $65 rake on step 5 seems very high.

[hotcookie42]

I have to say that Party seems to have done something right here with the new graduated "STEP" tournaments. As a business idea for them, it will bring in a lot of rake (the upper levels do seem awfully high) and the notion that you can loop back in again and again will surely keep many climbing the "steps" often. My question is whether my EV is higher or lower in a steps tourney of (how many?) people compared to that of a normal multitable tourney. Say I buy in to a 50+5 with a field of 1500. I have to make the top 140 (ish) to make the money. How does my EV in this event look compared to one in which I must make the final four at several levels to finish in the money? Very interesting, looking forward to experimenting with these new tourneys!

[EliteNinja]

[ QUOTE ]
You guys really play Party?? Seriosuly?? I mean seriously PartyPoker?? [img]/images/graemlins/wink.gif[/img]

[/ QUOTE ]

Where do YOU play?

[Stoneii]

does it mean that for $11 you could actually bobble up and down steps 2-4 for quite a few SnG's if you finish appropriately?

stoneii

[ethan]

[ QUOTE ]
does it mean that for $11 you could actually bobble up and down steps 2-4 for quite a few SnG's if you finish appropriately?

stoneii

[/ QUOTE ]

Yep. From the looks of things these are going to be hugely popular.

[binions]

Turns out, the best deal is level 1. For $11, you get you get a 20% chance of winning a $55 entry fee - i.e. $11. No effective rake.

Here is the mathematical EV of the other levels

Level 2 - $55 to win $49.10

Level 3 - $215 to win $198.95

Level 4 - $535 to win $499.35

Level 5 - $1065 to win $1000

[Percula]

[ QUOTE ]
My question is whether my EV is higher or lower in a steps tourney of (how many?) people compared to that of a normal multitable tourney. Say I buy in to a 50+5 with a field of 1500. I have to make the top 140 (ish) to make the money. How does my EV in this event look compared to one in which I must make the final four at several levels to finish in the money? Very interesting, looking forward to experimenting with these new tourneys!

[/ QUOTE ]

They are a two table SnG format. So you are playing against 20 , making it (if all are equal) a 4 in 20 chance of making the "money" in the first step ($11), 4 in 20 at step 2 ($50), 6 in 20 at step 3 ($200), and 8 in 20 at step 4 ($500).

If you are a good SnG player I would think one would want to "take the overlay" and start at the bottom and step your way to the final step ($1000). I would be interested in seeing the structure before saying if it is a killer deal or just a better than average deal. If you start with 800 chips and have "turbo" like level increases it could be a real crap shoot. 800 chips and 15 min levels would be fine, but I would rather see 1500-2500 chips and 15-30 min levels, especially at the higher steps. I have a feeling step 1-3 are going to be pretty fishy and likely a +EV situation for any solid player. [img]/images/graemlins/wink.gif[/img]

[Apathy]

The fact that steps one through 3 is very fishy is of little consequence since to make ANY money you need to cash in the step 5 where unless you are one of the best SNG players on party i.e. can beat the 100's and 200's. You have very little chance of doing IMO, thoughts on this?

Maybe if these things get REALLY REALLY popular enough fish will actually make it to the top.