| |
BGonline.org Forums
Some questions about hedging in tournaments
Posted By: Coolrey In Response To: Some questions about hedging in tournaments (Marv Porten)
Date: Thursday, 26 February 2009, at 12:41 p.m.
Hi Marv,
1. Is hedging allowed in the $ rounds of all ABT tournaments?
Yes
2. Are there any tournaments where the staff is actively involved in the hedging process, or is it solely between the two players?
Not really, but if the hedge were high enough, the Director could be included... and divide the money accordingly. That is not unheard of, both players should approach him and simply ask.
3. If a dispute arises about a hedge, will the tournament staff get involved in hearing the dispute and making a decision?
Not unless they were consulted in the first place, probably, so consult with them if you feel there is any chance of a disagreement or more likely a language barrier of some kind.
4. Is it frowned upon when the clearly weaker player asks the clearly stronger player to hedge? Should only the stronger player be the one suggesting a hedge, if at all?
NO, except by the stronger player. This is an insult to him, but ironically if he is self assured enough to ask for "odds" on the hedge which is actually the most reasonable of the two requests, the weaker player is often offended and the expert is cast in a negative light. This is one reason why really strong players simply refuse to hedge. A level headed player who knows his opponent is a favorite should simply pay him the respect he is due by offering 11-10, or perhaps 6-5 odds in the first place to hedge. Experts don't want to lose in the money round any more than you do, but they play percentages. If they are going to beat you 5 out of 9 matches, and you agree to hedge say $500, then after those 9 matches they will have paid out $2500, and you will have paid only $2000. In essence it has cost the expert $500 to hedge with you, or about $45. Think of the weaker player as a panhandler in front of the Wal Mart, asking you for $50. He looks capable of working, just like you DO. Will you pay him?
5. Is it an insult to ask the other player to sign a written hedge agreement?
It's not an insult, but it is unusual. Normally hedge amounts are on the order of 10% of the prize amount being played for. The winner will have the money, it is bad form to seek a written agreement unless your opponent is known to be unscrupulous which is fortunately rather rare in backgammon. In that case it is another good reason to involve the director perhaps, or not hedge at all.
6. Has anyone had (or know of) a bad experience with someone reneging on a hedge agreement? Yes. Joe Sylvester, a world class player, super nice guy and a former recreational drug addict once offered Art Benjamin 2-1 odds on a $1000 hedge in Monte Carlo when Art reached the round of 8. Art lost, and never got paid.
7. Is it bad form to try to modify the hedge agreement in the middle of the match? (For example, the hedge is $500 at the beginning, but at DMP one of the players suggests increasing the hedge to $1000.)
It is quite often a normal occurrence to increase the hedge or renegotiate it during the match. I have done this often myself, offering to split the money at a critical, (albeit in my favor), juncture. Be prepared to negotiate, and be friendly about it. Then, pay if you win and be happy!
8. Must the winner pay the loser at the end of the match? Or is it standard to wait for payment until the end of the tournament when prizes are awarded? (I heard about a tournament in Europe where the prize money was robbed before players were paid.)
If it is an amount over a couple hundred dollars, it is normal practice to collect after the winner gets paid. It is good practice to discuss when the hedge will be settled before you play. ie: You should note that you do NOT have $1000 right now, so you will pay when you collect at the end of the tournament. Everybody loses if the tournament gets robbed, I would think.
9. What are some guidelines for determining the amount of the hedge?
Mostly it is how much money you want to get. Maybe you want to cover your entry fee... or EF + 200, whatever. I usually ask my opponent how much he would like to make if he loses?. This provides me a nice moment to discuss the odds I want, (if I feel so entitled). If he says, how about $500? I'll say, okay, I will pay you $500 if I win, but if you win, you pay me $600 because I am the favorite. Ok? It's a place to start negotiations.
| |
BGonline.org Forums is maintained by Stick with WebBBS 5.12.