Originally Posted by ekgbeat
Are there any major live tournaments that you think are good value? Any good series WSOP, WPT, EPT?
Yes, any time the rake gets to 10% or less.
But even in the low stakes games they are beatable, but the rake makes it harder. For example in a $100 MTT with a $20 rake, if you are good enough you can average $200 return, but your ROI would only be 66%, which wouldtake a good while to build up a bankroll large enough to move up over $500. If the rake were only $10 instead, your ROI would be 81%. You lose 15% ROI just for the additional rake on an average to good return.
What also has to be taken into account in live games are the other costs of playing. Food, travel, and lodging should all count as costs of business, the same as rake.