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About Cash Play tournament format

Posted By: Daniel Murphy
Date: Monday, 12 April 2010, at 4:49 p.m.

In Response To: About Cash Play tournament format (Eric Guedj)

I see my name mentioned once, and not mentioned once, so I'll respond only to those points.

Eric writes: On the same subject, Daniel Murphy estimates that a player would automatically rebuy twice, (under current rules) just because he can do so. I fail to see why this strategy should always be EV+ (or generate positive equity)?

Eric, I didn't quite say that a player would "automatically rebuy twice," but I did note two days ago that (1) one immediate rebuy certainly is automatic under the rules as they are, and (2) a second rebuy immediate rebuy is available to the player who loses a point in the first game of the first match. Let me note that I think Bob and I are on the same page here in estimating the tournaments true cost; his only error was in overstating the cost of the rebuy(s) and add-on.

The first rebuy simply has to be positive EV, doubling starting chips but only increasing the buy-in by 50%. And rebuying twice immediately triples starting chips but only doubles the cost.

I do think that a player who chose to make two immediate rebuys would be doing so "carefully" and "in a well timed manner." This is dictated by the attractive cost of the rebuys and the speed at which point values rise. Looking at the tournament's structure, my judgment is that it's "turbo" with point values rising rapidly each round. Look ust at Day 1:

Level 1 -- each point worth 100 chips
Level 2 -- each point worth 200 chips
Level 3 -- each point worth 300 chips
Level 4 -- each point worth 500 chips

Those 2,500 starting chips aren't much by round 4 -- only 5 points worth. Who wouldn't rather have 5,000 or 7,500 chips to start, at a good price? And of course, some players will win additional chips in Levels 1-3, but really, how high is anyone's EV in a 10-game or 8-game set of money games?

So my judgment is that the extra chips that can be attained from both a first and second rebuy will likely prove valuable, even for winning players -- despite there being no "all-in" betting by big stacks; the better poker comparison would be, I believe, to a fixed limit game with a turbo betting structure.

Eric writes: PAIRINGS: I was surprised this did not raise more comments; Only Chiva Taffazoli questioned the chosen method for Pairings: "Not sure if biggest stack vs. smallest stack is a good thing."

I made nearly the same comment two days ago: "I think it's worth noting how the method of making pairings from Level 2 onward ... can be disadvantageous to the players with the largest stacks."

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