P
ph_il
...
Silver Level
...because i don't want you to make the same mistake.
My leak: I am way too loose with my re-entries in mtts.
A quick backstory: at the start of august, I reset my sharkscope graph because I wanted to start fresh and focus on improving my game, getting solid results, and building my self confidence as a micro-stakes mtt player.
I think i'm doing ok. I don't put in much volume and have only played 82 mtts played so far but, in that short time, I've made 10 final tables, half of them being top 3 finishes with 3 mtt wins. Please note that this isn't a brag, i still don't think i'm that good of a player and there is some purpose to this information that i'll get to later.
Onto the leak: majority of my mtts played are $1.10 buy-ins. However, my average buy-in (including rake) is $1.86, which means I'm paying .76 more per game played. With 82 mtts played, that's an extra $62.38 i'm paying in re-entries, or equal to re-entering once in 57/82 mtts. Now, i do have a 38% itm, so I can assume I'm making my money back in ~20 of those re-entries or +$22 returned, but that's still $40.38 i've spewed off in re-entries.
Now, here is the tricky part. Going back to my final table finishes, i only made those final tables because of re-entries. With the exception of freezeout mtts, i used at least 2-3, sometimes even as much as 6 re-entries in an mtt that made final tables in. And if I hadn't, I wouldn't have had the same results. But, the question is, are my final table results worth the $40+ I spewed away in re-entries?
I'm not quite sure.
One one hand, I've probably made more money with the final table cashes than I did if I had not used as many re-entries, so it's not like it was a total waste. However, making a final table 1:8 mtts is not sustainable at at all and, if i kept this up, i might end spewing off more in re-entries than i am in making final table runs. The $40 dollars i've given up is pretty significant. My best mtt win is $47 and i practically spewed that win off with my loose re-entries. In fact, i'm up $110 in profits but could have been up at least $150, so i threw away 27% of my profits with loose re-entries.
So, what is the solution? I think the best solution is to find a nice middle ground to allow re-entries but under really strict guidelines. I'm going to experiment with only allowing myself 1 re-entry per mtt, but only if I start with a minimum of 20+ bbs. This is great because i late register anyways and dropping down to 20 bbs or lower is going to be a lot faster than if i had started from the start. So, i'll be saving a lot more money by not re-entering majority of the time. If you play mtts from the start, you might try something different. Of course, I'm going to make deep runs and final tables less frequently, but i'll make up for it by spending a lot less on re-entries and keeping that money in my bankroll.
Anyway, that's it. I think re-entry mtts are great, especially because I don't have many options if I want to play mtt poker on BetOnline. But, now I'm going to be a lot more careful about letting my money go too easily.
My leak: I am way too loose with my re-entries in mtts.
A quick backstory: at the start of august, I reset my sharkscope graph because I wanted to start fresh and focus on improving my game, getting solid results, and building my self confidence as a micro-stakes mtt player.
I think i'm doing ok. I don't put in much volume and have only played 82 mtts played so far but, in that short time, I've made 10 final tables, half of them being top 3 finishes with 3 mtt wins. Please note that this isn't a brag, i still don't think i'm that good of a player and there is some purpose to this information that i'll get to later.
Onto the leak: majority of my mtts played are $1.10 buy-ins. However, my average buy-in (including rake) is $1.86, which means I'm paying .76 more per game played. With 82 mtts played, that's an extra $62.38 i'm paying in re-entries, or equal to re-entering once in 57/82 mtts. Now, i do have a 38% itm, so I can assume I'm making my money back in ~20 of those re-entries or +$22 returned, but that's still $40.38 i've spewed off in re-entries.
Now, here is the tricky part. Going back to my final table finishes, i only made those final tables because of re-entries. With the exception of freezeout mtts, i used at least 2-3, sometimes even as much as 6 re-entries in an mtt that made final tables in. And if I hadn't, I wouldn't have had the same results. But, the question is, are my final table results worth the $40+ I spewed away in re-entries?
I'm not quite sure.
One one hand, I've probably made more money with the final table cashes than I did if I had not used as many re-entries, so it's not like it was a total waste. However, making a final table 1:8 mtts is not sustainable at at all and, if i kept this up, i might end spewing off more in re-entries than i am in making final table runs. The $40 dollars i've given up is pretty significant. My best mtt win is $47 and i practically spewed that win off with my loose re-entries. In fact, i'm up $110 in profits but could have been up at least $150, so i threw away 27% of my profits with loose re-entries.
So, what is the solution? I think the best solution is to find a nice middle ground to allow re-entries but under really strict guidelines. I'm going to experiment with only allowing myself 1 re-entry per mtt, but only if I start with a minimum of 20+ bbs. This is great because i late register anyways and dropping down to 20 bbs or lower is going to be a lot faster than if i had started from the start. So, i'll be saving a lot more money by not re-entering majority of the time. If you play mtts from the start, you might try something different. Of course, I'm going to make deep runs and final tables less frequently, but i'll make up for it by spending a lot less on re-entries and keeping that money in my bankroll.
Anyway, that's it. I think re-entry mtts are great, especially because I don't have many options if I want to play mtt poker on BetOnline. But, now I'm going to be a lot more careful about letting my money go too easily.
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