Disappointed with tourney payout vs. effort
First of all, this isn't a criticism of the site where I played, but rather what I'm considering to be a lesson learned.
Last night I played a $1 buy-in MTT at PokerStars
. There were 1,572 entrants. I fought my way through 99% of the field and wound up 10th. Terrific, right? Well, that was after 4-3/4 hours of play, and I walked away with a whopping $11.32 (net $10.22 after the buy-in). That's just over two bucks an hour... not an outstanding hourly rate by any means.
I could look at it as time invested in skill-building, which is how I've been categorizing most of my play since I started, but I think I'm at the point where I'm looking for a bit more return on my investment. I've heard criticism of Stars' new 20% tournament payout structure and I guess this is why. It's nice to be able to make the money more easily, but it kind of sucks to do so well yet gain so little.
I was the short stack at the end (just over 80,000 chips when blinds were 8,000 and 16,000) and I made a somewhat loose all-in call hoping to get lucky, but didn't. Probably could have hung in and jumped up to the next pay level (around $20) if I'd exercised a bit more patience, but I'd lost enough chips on the previous few hands that I was getting a little frustrated, plus I knew I had to make a stand somewhere or risk losing even more chips with crap hands when the blinds came around again.
So, two personal lessons learned here:
1) Don't bother with $1 buy-in tourneys unless there's a good guaranteed prize pool.
2) Think twice about making loose calls for all your chips, even when short-stacked.
Mostly I just wanted to vent a little about putting in all that time and effort for a lousy ten bucks! Better than a kick in the head, though, I know....