Side Bets During Tourneys Among Players

rachkane · #1 11-14-2006, 05:55 PM

In my weekly bar tournament we usually get about 20-25 people (three tables of 9 max).
I was approached last week about a side bet for $25 per person for 6 players. Whoever outlasts the other 5 wins the side pot for that week. The other people involved in the tournament will not know who is involved in the side pot.
The real kicker is, the tournment only pays out top 2-3 (depending on who shows and how much the bar makes that night) and the top payout is normally no larger than $60.

I feel that getting involved in the side betting would be unfair to the players not involved in the side betting. However, I'm pretty sure it's a +EV prop for me.

So my questions are:
Should I morally take the prop?
If I do decide to take the prop, how should I change my play in order to maximize my EV?

Lottery Larry · #2 11-14-2006, 10:33 PM

[ QUOTE ]
The real kicker is, the tournment only pays out top 2-3 (depending on who shows and how much the bar makes that night) and the top payout is normally no larger than $60.

[/ QUOTE ]

25 people and first place is $60?? Is this a free tourney? Or a $5 tourney? Seems like a waste of time.

I'm not sure a last longer bet will change your play, or the other prop bettors, in a way that will be a detriment to the masses. Actually, I think you're benefitting them.

Forget about playing for the top prize- you're playing for the side pot.

bdotgates100 · #3 11-15-2006, 02:45 PM

'Last Longer' bets are considered acceptable.

nowags · #4 11-15-2006, 04:30 PM

Take the prop bet. A bar tourney that pays out $60 is more about the beer than the cards anyways.

i agree with lotterylarrys comment about benifitting the masses.

akebono · #5 11-15-2006, 04:36 PM

[ QUOTE ]

So my questions are:
Should I morally take the prop?

[/ QUOTE ]
There's really nothing wrong with taking a 6 way last longer bet from a moral perspective. Nothing wrong with restricting it to only select participants either. If this is a bar league, it's probably expressly prohibited by the bar rules and could land the organizers and bar in hot water. If there are any moral objections to taking this bet, they would have to arise from your concern for the organizers and the bar.

[ QUOTE ]

If I do decide to take the prop, how should I change my play in order to maximize my EV?

[/ QUOTE ]
You're playing a 6 person tournament with a ton of dead money stacks floating around. From every bar league structure I've ever played in the tourney portion is a complete crapshoot anyway. Strategically, I don't think much has changed since you're still going to have to outluck your opponents. Definitely keep a close eye on your opponents' chipstacks though. If somebody starts to build a gap on you, you'll probably want to take an early coinflip to catch up.

Just my 2c. I haven't played in bar league in quite a while and would rather put money into a cash game than a prop bet though.

Precept2 · #6 11-15-2006, 08:05 PM

There's nothing wrong with this bet. That being said, I wouldn't do it. As most say about bar tourneys, it's a "crap-shoot." I'm all for prop bets, but why would you want put up cash in a luck-fest. Why not just play a pick-3 or scratch-offs?

It's been said, I'd save that money and put it to use in a cash game or another situation where I can outskill my opponents, not outluck them.

rachkane · #7 11-16-2006, 12:29 AM

Thanks for the responses. I'll probably take the bet.

It's not a league (like riverchasers), just a weekly game without any cash on the table.

The same people go every week and everyone is laughably predictable. Half the field is out in the first 45 mins anyway. My bar tab works out to be about 20-25 by the end of the night, so an extra 25 a week to win 125 isn't that bad a prop.