Economic Research Study - Mid/High Poker players and Risk

[DannyOcean_]

Hey everybody,

I'm helping one of my profs do a study about risk and behavior, and one of the ideas I gave him was the idea of analyzing the practice of mid/high stakes tourney players who cross-buy with each other (I take 10% of you, you take 10 of me, etc). I don't play anywhere near mid/high stakes, but i've heard/assumed that it is very common for the 'big' tournaments (massive MTT's with enormous +EV but also enormous variance) with huge buyins for players to crossbook with each other to reduce variance.

So he asked, "yeah, but can you get that information"? I told him i might have a few sources... Hopefully...

If there are any mid/high level pros who wouldn't mind answering a few questions and sharing any crossbooking or similar arrangements they have with other pros, that would be utterly fantastic. I don't need to know anything very personal that you'd want to guard. I don't need how big your bankroll is, I don't need your finishes, or your ROI, or any strategy, or stats, or HH's. I also won't make any agreements or deals public. I'd just like to know any of those types of arrangements you have, and ask you a few hypothetical type questions about your aversion to risk.

If anyone wants to help, please PM me, or I can PM you, or whatever. Any information is good information, and it'd be pretty great to get good data on this.

Thanks,

Danny

[timex]

Crossbooking is the opposite of swapping action

[DannyOcean_]

[ QUOTE ]
Crossbooking is the opposite of swapping action

[/ QUOTE ]

?

Do i just have a term mixed up? I'm looking for the case where pro A trades 10% of his tourney wins for 10% of pro B's tourney wins, or something similar. Sorry if there is any confusion.

Danny

[craigthedeac]

Crossbooking is basically betting against someone or upping the stakes. If I crossbook you I would pay you however much you cash or if you don't cash you pay me the buyin. You can cap the crossbook to a max loss or do it for certain %s, etc.

You mean swapping percentages.

[DannyOcean_]

[ QUOTE ]
Crossbooking is basically betting against someone or upping the stakes. If I crossbook you I would pay you however much you cash or if you don't cash you pay me the buyin. You can cap the crossbook to a max loss or do it for certain %s, etc.

You mean swapping percentages.

[/ QUOTE ]

Yes, exactly

[timex]

Yes, lots of people swap action.

Very few people crossbook.


Swapping action is just a good way to turn playing a 10k into playing an 8k and 4 500's or something like that.

[DannyOcean_]

bump one more time if anyone is interested

[Pudge714]

It's basically what Timex said MTTs are really top heavy and few people play making them high variance. To reduce variance people swap action so they win less when they win, but are more likely to profit when they lose which is the majority of the time.

[bigballz]

I swapped 50% with bakes in the Sunday mill a few weeks ago to reduce variance. It cost me $60,000. [censored] variance.

[Bakes]

lolz