chipEV to $EV question
In a huge mtt field it's pretty common to say that chips lost are worth more than chips gained early on. Let's say you start up 4 10 dollar tournaments with a 3k starting stack and you bust 3 of them and grind your way up to 12k in the last one.
Ignoring the rake, does this mean we have broken even EV wise so far (in other words that we're expected to win on average 40 dollars with this stack) or have we lost equity?
Comments?
Ignoring the rake, does this mean we have broken even EV wise so far (in other words that we're expected to win on average 40 dollars with this stack) or have we lost equity?
Comments?
Comments
Good thought provoking idea Richard..
im only halfway through my coffee but possible and expected are double adjectives here.....almost. but me thinks maybe the same here.
lol..yeah..probably. Maybe.
-edit-likely...not maybe.
Nevermind.
That being said, I think they are seperate. I think you need to take the average stack at the time of cashing. (say 1000 entrants at 1000 chip starting stacks, 10% get paid, so average is 100,000chipsto make the money. This would = x amount of dollars)
winning for example 10K I think should relate to the average stack to cash. so in this point, it would be 10% of (last place money?), and not 10x your buy in.
We've lost $EV slightly since, as you said, chips lost are worth more than chips gained in tournament poker. The amount of equity lost is probably pretty minimal/irrelevant though since cEV is pretty close to $EV in the early game, or at least close enough that $EV shouldn't affect any of our decisions.
Fwiw, though, I wouldn't worry too much about $EV in tournaments in almost any situation that isn't an exact bubble, or final table (if this question was meant to give you some practical application).