I’m three for three now after finishing in 8th place at this weeks Creekside tournament. This week however I actually go lucky on an all in. For the first time in 3 weeks I was all in with the worse hand. This hand actually decided the fate of my entire tournament sine there was still close to 40 people out of the original 123 and only the top 18 paid. I will list all of the ket hands below including my suck out, but I first wanted to comment on the structure of the tournament.
Top place gets paid a max of $500. Only 18 people get paid. Two weeks ago there were 101 people and this week there were 123. Unlike most other tournaments that only pay to 10% and the majority of the money goes to the top 3 spaces, this tournament spreads out the wealth over the top 18 a little more evenly. In most tournaments if you win, you will take close to 40 to 50% of the buy ins. Second would then get half of the that and third either 10 or 15% of the buy ins. This means that in those larger tournaments your main goal is to get in the top 3 because the payoff is so good. Plus if all you do is survive and make it into the money you usually only get your buy in back and maybe a couple extra bucks. Plus in the normal casino and internet tournaments there are plateus of winnings. If 18 places pay then 18 – 11 would probably get $30. and then 10 – 4 would get small increases up to the level of where the big money for 1st, 2nd, and 3rd get paid. In this tournament 18th got paid $55 and 17th got paid $60.
So my goal in these tournaments has been to stay ahead of the blinds if I can. tighten up before the cut off unless there are easy steal opportunities, and then once in the money sit back and watch as people start to take each other now that they are playing really loose now that they are guanrantted a pay day. The last three weeks I have gone from in the money, to the final table with only playing a combined 5 hands. In that time I saw a flop only once, and it was cause someone with a tenth the stack of mine went all in and I called. It’s scary how quickly people drop out after the money line. Basically by sitting back and making sure I’m not blinded out I move from an 18th place payday of $55 up to a 9th place pay day of about $120 or so with almost no effort or really time. Once I’m at the final table the pay outs kind of level off until you get 2nd or third of 1st. Actually 3rd isn’t that great concidering the payout for 8th. 8th got paid $130 and 3rd got $180 and 2nd got $220. I think those were the numbers. Maybe 3rd and 2nd got maybe $50 or so more, but It’s obvious at this point the goal is to get first. Moving up just 3 spots might get you $40 more dollars but getting to first will get you $300 extra dollars, so taking risks and being aggressive is very important, especially if the blinds get very high.
Will post more later