Originally Posted by BelgoSuisse
What is your average ROI on MTTs?
People typically don't realize how small the margins we're exploiting are. I really don't know much about MTTs, but for SNGs an ROI of 5 to 10% is really excellent beyond micro-stakes, and that means that in order to make a five-figure income, you need to invest a combined buy-in that is typically a six-figure amount.
Even if you had a 100% ROI at MTTs, if you play a $5 buy-in for 5 hours, your long-term salary would still be only about $1/hour.
Although I have detailed notes including every MTT I have entered, I don`t have them collated in such a way that I can easily extract that info. My primary purpose in keeping notes is to identify profitable regular tournies and profitable strategies to use in each tourney and blind structure. So, my notes are narrative documents rather than spreadsheets.
I can say that in 2009 I played in approximately 550 tournies. I am not sure of the exact total number, since I do not bother tracking the little games (generally CC buyins) that I play just for laughs.
Counting only the large tournies of which I do have full detail, I reached 26 final tables and had 57 other cashes. I achieved a net profit of $14,774 from large tournies.
I don`t have an easy way of calculating the total buyins. I play tournies anywhere in the range from $5 to $100 buyin, wherever I can find overlay or soft opposition or both. If we said that the average buyin might be $15, then my ROI would be considerably greater than 100%. It`s worth bearing in mind that a tournament player`s results are immensely skewed by a few big scores. Typical among last year`s final tables were one where I won $2000 for an $11 buyin, and another where I won $3500 for $22 buyin. I expect if I were to tot it all up, the 26 final tables must account for all my profit and the rest would be a break-even proposition at best.
The length of time spent is not nearly so great as you might think. A tourney is only a four or five hour marathon if you go deep and make a big score, in which case the time invested is a minor consideration. Where I am unsuccessful, I will usually be out in the first hour.
Someone made a comment elsewhere in this thread about tournament grinders not risking their BR, and that is 100% correct. I have an online BR of more than $10k and never put more than 1% of it into a single tourney. It is necessary to have that sort of margin in order that one can be entirely relaxed through the inevitable long periods of mediocrity between the big successes.