S
shanks99
Enthusiast
Silver Level
I read a thread here a few days ago about a new type of tourney on FTP called a Cash Out Tourney. What this does is basically take your buy-in and split it into two buckets, a prize bucket and a buy-in cash out bucket.
At any time you can cash out all or part of your chips, with the exchange rate at 50% of your original buy-in to original starting stack. So for example, if you start with 1500 T$ and it's a $20+2, then at any time you can cash in at an exchange rate of $10 per every 1500 T$. This is important, because let's say at the end of the first hour your have 6000 T$, then you can cash out for $40, which is roughly equivalent to an ITM finish.
I think this brings up some interesting strategy questions.
1) Is it +EV to take advantage of the cash out
2) Assuming +EV, when is the best time to cash out
3) When cashing out, do you do a partial or full cash out
To keep this post on the shorter side, I'll post my thoughts on each of these as separate posts, and this will make it easier to discuss as well.
At any time you can cash out all or part of your chips, with the exchange rate at 50% of your original buy-in to original starting stack. So for example, if you start with 1500 T$ and it's a $20+2, then at any time you can cash in at an exchange rate of $10 per every 1500 T$. This is important, because let's say at the end of the first hour your have 6000 T$, then you can cash out for $40, which is roughly equivalent to an ITM finish.
I think this brings up some interesting strategy questions.
1) Is it +EV to take advantage of the cash out
2) Assuming +EV, when is the best time to cash out
3) When cashing out, do you do a partial or full cash out
To keep this post on the shorter side, I'll post my thoughts on each of these as separate posts, and this will make it easier to discuss as well.