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Hi eveyone, Im having a Satellite at my place For $1000 Brantford. The winner will receive Cash or voucher to play at Brantford. Everyone who Participate at this Satellie will Have a Share of 2% for any money won at Brantford. Max 11 players.
Buyin depends on number of players attent.
5000 starting stack.
Please register.
Satellite starts at 8pm.
mini tourney starts at 6 for those who can make it.
RAKE FREE.
__________________
Yama S
Real Estate Sales Representative.
My tourney are not about making money, its about giving everyone a chance to get in the big dance with big guys.
I've been busy at Casino Brantford and other casinos lately to make it to your past few home games, but I'll be there on Wednesday to "get in the big dance with big guys."
Howard said he will also be there.
This rake-free satellite worked out great for everybody, as I multiplied the investment by 15 times and made money for all the participants! The CPT $1,000+65 event took place on Tuesday, October 2 at 6 PM. It was sold out at 100 players and I believe the satellite coins were selling for more than face value. The total prize pool was $93,000, with $5,000 going to the points pool and the remaining $2,000 as dealers' gratuities.
When it was got down to final table, the players were told that the top three would get a Canadian Poker Tour prize package, so I used that as motivation and set a goal of making it to the final three. I asked if the winner would get a big novelty cheque like AllAces got, but was told I would have to qualify on Wednesday's $2,100 tournament then make the final table on Saturday before getting the cheque, so I now knew what my next goals would be.
I achieved my goal of making it to the top three. Anh Van Nguyen, one of Canada's best poker players, had more than half the chips. I later found out that he is the poker mentor and buddy of Tuan Lam, the $4 million WSOP Main Event runner-up. Just from tournaments in the US, Van has won over U$800,000, including several cashes in this year's WSOP and won one of the WPT Championship events for over U$300,000.
He (and his girlfriend) wanted to end the tournament and offered a deal. With 500,000 chips in play and the blinds at 8,000/16,000 + 100 ante, the following were the chip counts:
1) Van - 257,000; turned professional in 2002 and now a poker millionaire.
2) Munif D. - 120,800; was the "Best All-Around Player" in the Brantford Winter Classic and won $40,000.
3) BlondeFish - 122,200; last cash-in was for $100 at Royal Cup IV.
First prize is $26,040, second is $14,880 and third is $11,160. Before you read on, what is the minimum amount that you would accept if you were in my place?
The offer was that Munif and I would just give up and split the 2nd and 3rd place prizes, i.e., $13K each. Munif was more than happy to accept, but I knew that the offer was not fair. I didn't have access to an Independent Chip Model calculator, but I estimated that my tournament equity was between $15-17K. I asked the floor people if they have a similar calculator that other casinos use to determine fair chops, but they did not.
I asked for $17K while Munif would probably have been happy with $12K. The poker shark who finished in fourth place was the only one who agreed with me that a fair offer would have to be more than the second prize amount. Van's final offer was $15K each and put pressure on Munif by stating that once the round started, he would not make another offer. While everybody else in the tournament area mistakenly thought that I should accept the offer, giving up that much equity is a cardinal sin for me and I made a final counteroffer of $15,500 for me, fully expecting that it would not be accepted since neither player understood what the fair value of our tournament chips were. As anybody at Royal Cup knows, I was not afraid of a high-pressure game, even if this one had a worst-case scenario of ending up third place and losing $3,840 instead of accepting the $15K offer. This "fish out of water" was not only prepared to swim against the two sharks but ready to take a big bite out of them. I sat down, slammed the table and said, "Let's do it!" but just when the cards were about to fly, Munif suddenly agreed to accept $1K less so that I would get $15,500.
The three of us shook on the deal. I was looking forward to playing out the tournament with no more pressure, but to my surprise, the TD ended it immediately by getting the two short stacks to go all-in then mucking our hands so that the chip leader got all the chips.
In all the excitement, everybody including the floor people had forgotten to mention that first place would also get a $2K coin and a championship trophy. With a total prize pool worth ~$54,080 and using an ICM calculator, it turns out the estimated equities for the players were:
Chip leader - $21,076
Me - $16,545
Munif - $16,459.
With 20/20 hindsight, I should have played it out unless I got an offer worth more than $16,545, including the coin that I wanted to buy anyway. My $EV instincts continued to be sharp as my $17K offer was much more fair than $15K each. Van and I had a similar strategy of grinding out the tight-passive shortest stack by attacking his big blind, while Van would avoid me and give my blg blind a walk. Anyway, I happily collected the $15,500 cash and CPT prize package. I gave $150 tip to the hard-working and well-deserving dealers.
Congratulations to the other nine players who had played in The_Game's satellite and will get an 18% share or $2,763! The_Game is hosting a WPT satellite this Wednesday at 8 PM, so the participants can collect their cash. Another option is to reinvest your share in my rush and I would play in the WPT with a total prize pool of several million dollars. So instead of getting a 2% share of $15K, the players will increase their share to 3% of up to $1.5 million.
Anyway, there will be a mini-celebration on Wednesday. The plan is anybody playing on Wednesday can tell The_Game (or me) what food they want to order, and it will be there by 7 PM. The rake-free satellite will start at 8 PM. The same structure as the $1,200 Fallsview satellite will be used: 3,000 starting chips, 30-minute blinds, and double decks will be used. Depending on the number of players, the buy-in will be around $100 and the winner will win a $1,000 buy-in to The_Game's $10K satellite on October 24.
The winner of the October 24 satellite will win a WPT seat worth up to $10,300. Participants will get a 3% share of any WPT winnings, so with several proven tournament winners expected to register for this, it will be +EV for anybody to play just like the last satellite.
Quote:
Originally Posted by The_Game
Im having a Satellite at my place For $1000 Brantford. The winner will receive Cash or voucher to play at Brantford. Everyone who Participate at this Satellie will Have a Share of 2% for any money won at Brantford.
__________________
May your EV always be positive.
Last edited by BlondeFish; Nov 05,2007 at 10:34 PM.
Location: Milton, poker capital of the world.. after Wloo that is.
Posts: 9,242
First of all congrats Buddy, well done! I wish my math skills were even half as good as yours. I still go much more by feel.. and lately that hasn't been working too well... lol.. although my feel certainly would tell me that splitting 2nd and 3rd at that point was way too low.. look forward to congratulating you in person..
And Moose I have no clue how you could come up with a how a fair cut for Buddy would have been more than 20K. There was only about 54K in total value that they were playing for. An even split disregarding chip distribution would have been 18K, how could you expect him to hold out for more than that? My gut feel without using a program or doing any math tells me that anything more than 16K would be a fair deal, assuming all players having equal skills.
Hi Buddy, to be honest, I would have never made a deal at this point. For $3k difference between 2nd and 3rd, why not take your chance and try and win the whole tournament? If you double up once, you are the chip leader so anything can happen at this point. If the prize difference was larger, I would have considered a deal. Good work in any case and good luck with the WPT Niagara event.
Never say never in poker, pokerJAH! To me, poker is all about maximizing equity or average profit over the long run. The third guy had no idea about the huge equity of his chips and he was scared of being eliminated next by the two "crazy" guys attacking his chips and ending up with "only" $11K. On the other hand, with me also being in the Red Zone, it would have been silly of me not to accept an offer of ~$17K unless I was deluded that I had a huge skills advantage over a long-time poker pro with net winnings in the 7 figures. Unfortunately, I did not have much negotiating leverage against W$OP Van since Munif was too eager to accept much less than $15 K and there were no DataMn, Ryan (kidpokerv2), ScoobyD, -ev or moose in the viewing area to back up my equity estimates.
DataMn's calculations using the simple method appears to be correct. As discussed in The Mathematics of Poker book, that method overvalues the equity of the chip leader and the ICM calculations I posted are more accurate.
I had stepped away from the tournament area and calculated the prize pool at $52,080 (everybody forgot about the coin). I came up with a rough estimate of $15,500-$17K as my equity, so that is why my counteroffers were in that range. An ICM calculator shows my equity as $16,048, so my offers were the most fair.
Had any floor person reminded us about the coin and trophy during all these negotiations, I would have offered something like the following and it probably would have been accepted:
Blonde- $15,000 + coin I needed
Van - $22,000 + trophy; higher than ICM's $21,063
Munif - $15,080; he was later very grateful that I had basically acted as his agent who earned him thousands more than what he was willing to settle for.
The actual deal ended up like this:
Van - $23,080 + trophy - $15,500
Munif - $13,500 + coin.
I won satellite coins for the Wednesday and Friday qualifiers, so I wanted to buy a coin for Thursday. I was directed to this guy and we briefly discussed $1400-1700 plus up to 15% of what I win. He was the unfriendliest person I have ever met at that casino and later rudely refused to sell any coin only to me. Had he been a nicer person, I probably would have quickly agreed to give him a share of me. I qualified later that night and he would have made a lot more money after Saturday's finals instead of just taking the cash.
Quote:
Originally Posted by pokerJAH
to be honest, I would have never made a deal at this point. For $3k difference between 2nd and 3rd, why not take your chance and try and win the whole tournament?
__________________
May your EV always be positive.
Last edited by BlondeFish; Nov 05,2007 at 10:39 PM.
you may have been in the red zone, but with the blinds at those levels, I would think all three players were in the red zone (or close enough). After playing in the Ryder Cup, you should be use to playing against world caliber players Personally, I would have gone for the win and the trophy. Money is easy to earn (i.e. work), winning a CPT tournament is the difficult part.
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- 122,200; last cash-in was for $100 at Royal Cup IV.
Personally, I would have gone for the win and the trophy. Money is easy to earn (i.e. work), winning a CPT tournament is the difficult part.
