[MicroBob]

I think there is some serious EV in smaller live-tourneys just from idiot deal-makers/accepters.

Obviously you lose some EV compared to online-tourneys from higher entry-fee as well as an obligation to tip (much of the time anyway).

But the deals can just be so ridiculous that they make up for that.


Three examples from my extremely limited experience in live tourneys:

1. Single-table satellite at WSOP (my first ever).
Winner take all ($1070 I believe...mostly in entry-chips but they're practically as good as cash since you can sell them anyway).
We're 3-handed.
I think table-leader has 7000, 2nd place has 1700, I have 1300.
2nd place guy proposes we do a $200 save. It's so ridiculous I almost laugh out loud. Chip-leader however thinks it's a fine idea.

Great!!
We all lock up our $200 on cash and we're playing for the remaining $470 (which chip-leader is still able to win of course).


2. 65 player tourney in Tunca (it's something like $35 buy-in with $15 rebuys, $4k for 1st, $170 for 9th).
We're down to 10-handed and only top 9 pay.
We're on a break and 10th place player is going to be all-in in the big-blind. Convinces the group that making the final-table deserves something. Nobody cares that this is player is likely one hand from elimination. Table agrees to just give $100. (I was last to agree and didn't want to rock the boar. Money comes out of 1st place prize...and I was in 8th anyway).


3. Same tourney. I get knocked out in 9th and leave. I'm in the elevator later that evening and some guy who was on the rail recognizes me from the final-table. Asks if I heard the deal they made. Evidently, the final 4 players agreed to an even split even though the chip-leader had about 80% of the chips (and the other 3 had even-sized short-stacks).

Prizes were probably something like $4000, $2400, $1700, $1000. So probably about $2300 cash for each of them.


Because I've played so few tourneys and have already seen deals THIS bad I have to imagine that such things happen ALL the time.