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[lotus776]

I began playing limit poker ($5/$10)and have found a new interest in tournaments. But I'm starting to realize that the nature of tournaments isn't "hourly" oriented. Meaning my hourly wage for playing isn't as easy to calculate. Is it possible to make as much playing tourneys as playing limit ring games? Give me some feedback over the topic of hourly wages and tournaments vs. limit (or even NL) ring games...

thanks

[crunchy1]

Your hourly wage is your (total $$ won or lost) divided by (the # of hours played). This isn't any different whether you play tournaments or ring games and I don't think that the difficulty in the calculation should be harder or easier.

I have been having real trouble with this myself.

I have heard things on EV such as "if you are better (skill wise) than 1/2 the field... your EV is twice the buy-in"...

However, I'm having a very hard time quantifying my results. Last week I played very well/ got good cards and took first in a 2300 person PP MTT. That's like $5,000 for 5 hours of work.... if I'm just being results oriented... this one win will scew my numbers for a long time to come.

I wonder how the pros track/justify their time and expense to play in tournaments.

Is it soley a "I'm in the black or red for this year" type of mentality.

I've aways managed my tournament rates in terms of buy-ins (excluding juice) per hour:

Number of Buy-ins Won-Number of Buy-ins
---------------------------------------
Hours Played

$$ can be confusing in this case.

[ QUOTE ]
I've aways managed my tournament rates in terms of buy-ins (excluding juice) per hour:

Number of Buy-ins Won-Number of Buy-ins
---------------------------------------
Hours Played

$$ can be confusing in this case.

[/ QUOTE ]

I like it... but why do you exclude the juice? Isn't this a cost of doing business? Or do you just consider this a fee to do something you enjoy doing (like catching a movie)?

[lotus776]

yeah, I disagree with the red/black philosophy. I need substantial income to have the year be considered a success.

GL everyone

I examine my win rate in tournaments excluding juice as an ideal number. Of course, you are correct that juice is an "operating expense" and this can be reflected in a real win rate:

Buy-ins Won - Buy-ins (including juice)
--------------------------------------
Tournaments Played