Tournament buyin strategy question
Do we need to consider how much the buyin is compared to what the payout is for the position that we are most likely to finish in?
For example: Let's say I play 100 tournaments. I look at my finishing results in all 100 of them and figure out that on the average I'm finishing in the top 7% (This might be way off, but I'm just creating an example.)
Because I know that I'm likely to finish somewhere in the top 7%, I then figure out exactly which spot is at the 7% cutoff.
400 people in tournament x 0.07 = 28th place.
Since the tournament costs $55 to buyin and on the average I won't finish worse than 28th place, should the prize for 28th place be at least $55 in order for me to justify playing?
I understand that because of late registrations it's hard to determine just how many people will be in the tournament. But still, we can estimate it.
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