(LC) - Step tournaments question

[nincomepoop]

I've asked a couple guys in the MTT forum if these Royal Vegas Rounders, similar to the Party Steps are worth playing. They all say they're -EV . . . ok? $5 investment potential $3K profit. Seems lucrative to me if you're a good SNG player. IMHO, the Party Steps aren't as good as these.

Here's the layout:

Round one: $5+50
Round two: $25+2.50
Round three: $112.50+11.25
Round four:$275+27.50
Round five: $550+55

Round one: top 2 move to next round, 3-10 drop out
Round two: top 2 move to next round, 3rd replays round 2
Round three: top 4 move to next round, 5th replays round 2
Round four: top 5 move to next round, 6-10 drop out

Round five: 1st-3K
2nd-1.2K
3rd-800
4th-500


So why are these not worth playing? Enlighten me.


sorry if this is a re-post.

[splashpot]

Looks like a good deal to me. Unless I miscalculated, you're getting overlay for each round. Like round 1 has a $50 prize pool and pays $55 in prizes. You don't seem to have to pay rake after your first buyin.

Edit: Are you sure this is the structure? It actually looks like the site isn't taking any rake at all.

[nincomepoop]

Those are the respective buy ins . . .

Round 1: $5 + .50
Round 2: $25 + 2.50

etc...

You have to make round 5 and finish 1,2,3,4 in order to show profit, however, you do get T$ for finishing certain rounds. Like if you make round 3, it's worth T$112.50 + 11.50 , so I could re-play a ton of round 1's or 2's if I wanted or just play the step 3.

[runner4life7]

this does appear to have no rake once you pay the rake for whichever step you buy in at.

[splashpot]

[ QUOTE ]
Those are the respective buy ins . . .

Round 1: $5 + .50
Round 2: $25 + 2.50

etc...

You have to make round 5 and finish 1,2,3,4 in order to show profit, however, you do get T$ for finishing certain rounds. Like if you make round 3, it's worth T$112.50 + 11.50 , so I could re-play a ton of round 1's or 2's if I wanted or just play the step 3.

[/ QUOTE ]
That's what I'm saying. $5+.50 is supposed to mean that 5 goes to the prize pool and the site takes .50 rake. However, here, it doesn't seem like the site is taking any rake. The first round pays 2 $25+2.5 entries. That is $55 total. I don't see why any site would run a game like this. They gain nothing from it.

[nincomepoop]

Exactly, there is no rake, so if I win Round 1, I get a round 2 ticket, worth T$ 27.50 (25+2.50), I could play Round 2, or play 5 more Round 1's . . .

[nincomepoop]

Royal Vegas Rounders

[splashpot]

If you can indeed get the T$, I would just use those to play regular sngs.

[splashpot]

Ok, I found where they take the rake. At the end. 550+55 is a 5500 prize pool and it pays 5500 total. But if what you say is true about being able to cash out the T$ and use them for regular SNGs, then that is clearly the better deal.