Re: Party's Steps tourneys -- rake analysis

D wrote:
> > People paying $11 don't care about the rakes.
>
> I play some $11 tourneys, and I care about the rake.  Anyone who
cares about
> turning a profit cares about the rake.
>
> Obviously the fish are pretty much oblivious.  Discerning RGPers are
not
> fish.  I figured some of them might like to see the effective rake in
black
> and white without calculating it for themselves.  It isn't obvious
that Step
> 4 is effectively $435+$100 rather than $500+$35 until you crunch the
> numbers.
>
> That's why the post was addressed "for those that are interested."

I have a different outlook.  The Steps are a fantastic deal, especially
if you buy in at the $200/500 dollar level, the 500 especially.  I
believe that the 500 sends 8 people to the finals and 2 recycle.  The
odds of me fini****ng in the top 10 out of 20 are essentially 100% minus
bad or semi-bad beats, so probably 80% or so.  The math works out to
playing a $1000 SNG for $600.  That is a great deal, especially if you
are +EV SNG player.