Who plays live tournaments for extra $? And payout structure question.

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Don't know how to start off...I'm a decent player, learned by playing online micros and reading books/online. I played a couple $80 live tournaments at the casino and 2 local/fun tournaments in the last year. Did good in the fun tournaments… Didn't do great in the first casino trip, but not bad. The 2nd I finished around 25th-30th/80-90 players but still no money

Slowed down a lot on poker lately but to be honest I'm in need of some money right now, and thinking of saving for a a few live tournaments to help out.

Are $70 and $80 buy ins worth it though? I don't even know how the payout structure really works. Where do I need to place to win anything and about how much would 1st, 2nd, and 3rd place get with a $4000-$5000 purse?

I realize I could be setting myself up for failure with the hopes of winning, but thats the point right?

Any comments or advice would really help.
 
online tournaments at least the standards either at PS or at FTP:

the prize pool is shared by the top 15% of the field (give it or take it)

first place takes like 15-20% of it and second place prize is like 70% first place prize and so on to ninth place which is like 5% of first place prize!
 
The exact structure varies from casino to casino, and even tournament to tournament. Some opt for a top heavy structure, where the top two or three finishers make a lot of money and the payouts drop away very quickly after that. Some have a flatter structure where the money is shared out more evenly, and possibly further down the field.

A big problem with live tournaments, especially low buyin ones, is that you may not even know what the payouts will be until the tournament is well underway.

Generally speaking low-buyin tournaments (and just to be clear, $80 is a low buyin) have poor blind structures as well so you're forced to play fast. Make sure you're very well versed in short stack strategy if you want to have any success in them.

I won't even get into whether playing in these tournaments because you need money is a good idea...
 
Thank you for the info, good to hear a number like 15% of the field gets paid, thats exactly what I was looking for.

Oz- The times I went to the casino, I had no idea what the payout was and barely how many entries there were. I guess I should call and see what the payout structure is like. The $80 buyins have 20 min levels, is that terrible? Even the $130 is 20 min, but $160 is 30 min.
 
Put it this way - with 20 minute levels, you're probably only getting about 8-9 hands per level
 
I played a $65 buy in last weekend with 20min blind structure. That was enough most time for the button to go around the table close to twice. That is if people were acting fairly quick. It was the first I played at the casino. I was confident and just kept telling my self I could win it. I made a hell of a run at it for my first time. I ended up 13th out of 65 people. Only the top 6 got paid out. Although the final table decided to give everyone at the final table at least a $100. So I missed the money by three seats.

That said, Unless you are a good player I wouldn't depend on these tournaments for regular income. You have to play great and run good to have a shot at hanging in as the blinds keep going up every 20min.
 
KcMoMoney said:
I played a $65 buy in last weekend with 20min blind structure. That was enough most time for the button to go around the table close to twice. That is if people were acting fairly quick. It was the first I played at the casino. I was confident and just kept telling my self I could win it. I made a hell of a run at it for my first time. I ended up 13th out of 65 people. Only the top 6 got paid out. Although the final table decided to give everyone at the final table at least a $100. So I missed the money by three seats.

That said, Unless you are a good player I wouldn't depend on these tournaments for regular income. You have to play great and run good to have a shot at hanging in as the blinds keep going up every 20min.
Click to expand...

To say the least - this sample size is incredibly small.

You are not going to get 2 orbits out of 20 minutes - but maybe 1 1/2.

As someone who has been playing these tourney's (in this city) - you can indeed make a profit. BUT you have to be prepared for variance. A couple years ago I went 12 tournaments in a row without cashing - that adds up and faster than you want it to. This year my longest stretch without cashing was 5 tournaments. This was immediately offset by a $600 cash and then a $700 (then 4 in a row without cashing).

I don't think I "play great", nor do I very often "run good" - in fact most final tables I am in resulted from only about 3 hands that you would really write home about (sometimes less). But I do try to be smart and since the filed is filled with regs I have made it my business to know who I want to get in a hand with and who I would just as soon avoid.

Prize pools for live tourneys are generally reserved for the top 10 to 12% - 15% would be unusual and really cuts down on a decent cash.

Your poker room should have a sheet giving you breakdowns on structures and pay-outs.

Go into it and figure on some time to figure out the regs and such, as well as nuances of how the game is managed by the house (i.e. PENALTIES).

It's a long term and steady situation to make a profit - not once in awhile. If you commit to that its very doable.
 
I did say, close to twice if everyone is acting quickly. So 1 1/2 does sound right.

I am more than aware that my "sample size" is non-existent.

I was only saying if OP needs money then maybe playing with money he could use isn't a great idea.

DISCLAIMER:

I am a total newb and please don't take my advice to seriously.
 
When I play live tournaments I will only play the 125 or 150's due to the field size the prize pool, and the casino i usually play at. There are smaller tournaments like 60 that I play to practice to see if I can navigate a donk field. I usually finish in the top 20 percent live, online I have no luck whether it is my patience or the fact it is so easy to just click... But you want to grind cash and play larger tournaments for better value.
 
The best way to make Money by playin cash games if you can afford. if not thenplay the satties into those mid buyins mtt like 200 to 500 bucks games.. qualifying from small Money sattie and go on for a deep run is the best way to make Money.. but u ve to acccpet the varience as well. so my advice is simple, if u want to Play mtt then Play only good buyins one by winning the sattelites .. if not then Play cash only .. in cash you can win and leave anytime you want.. and of course low varience..
 
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