Originally Posted by KcMoMoney
I played a $65 buy in last weekend with 20min blind structure. That was enough most time for the button to go around the table close to twice. That is if people were acting fairly quick. It was the first I played at the casino. I was confident and just kept telling my self I could win it. I made a hell of a run at it for my first time. I ended up 13th out of 65 people. Only the top 6 got paid out. Although the final table decided to give everyone at the final table at least a $100. So I missed the money by three seats.
That said, Unless you are a good player I wouldn't depend on these tournaments for regular income. You have to play great and run good to have a shot at hanging in as the blinds keep going up every 20min.
To say the least - this sample size is incredibly small.
You are not going to get 2 orbits out of 20 minutes - but maybe 1 1/2.
As someone who has been playing these tourney's (in this city) - you can indeed make a profit. BUT you have to be prepared for variance. A couple years ago I went 12 tournaments in a row without cashing - that adds up and faster than you want it to. This year my longest stretch without cashing was 5 tournaments. This was immediately offset by a $600 cash and then a $700 (then 4 in a row without cashing).
I don't think I "play great", nor do I very often "run good" - in fact most final tables I am in resulted from only about 3 hands that you would really write home about (sometimes less). But I do try to be smart and since the filed is filled with regs I have made it my business to know who I want to get in a hand with and who I would just as soon avoid.
Prize pools for live tourneys are generally reserved for the top 10 to 12% - 15% would be unusual and really cuts down on a decent cash.
Your poker room should have a sheet giving you breakdowns on structures and pay-outs.
Go into it and figure on some time to figure out the regs and such, as well as nuances of how the game is managed by the house (i.e. PENALTIES).
It's a long term and steady situation to make a profit - not once in awhile. If you commit to that its very doable.