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Poker Forums => The Rail => Topic started by: Colchester Kev on February 10, 2009, 03:38:55 PM



Title: Help please
Post by: Colchester Kev on February 10, 2009, 03:38:55 PM
After a thread on LIVE POKER regarding some casinos paying out on chip count by the following

Whoever has the chip lead gets 1st place, and so on for second etc.


Can someone post the formula for doing chip count chops properly, I know what it is, but I cannot seem to write it down so it makes sense and is easy to follow.


Thanks.


Title: Re: Help please
Post by: bolt pp on February 10, 2009, 03:40:38 PM
timmy has 7 sweets, johnny has 4, how many more sweets than johnny does timmy have?


Title: Re: Help please
Post by: Colchester Kev on February 10, 2009, 03:42:10 PM
timmy has 7 sweets, johnny has 4, how many more sweets than johnny does timmy have?

Why hasn't Billy battered the pair of them and nicked all the sweets for himself ?


Title: Re: Help please
Post by: bolt pp on February 10, 2009, 03:44:25 PM
I think ive sussed it, is this it?...................

(http://www.independent.co.uk/multimedia/archive/00031/maths_quiz_figure_1_31750t.jpg)


Title: Re: Help please
Post by: bolt pp on February 10, 2009, 03:46:22 PM
this is amazing, i'm learning and having fun, wow!!! what a day!!!!

(http://www.rjcooper.com/2+2/algebra.jpg)


Title: Re: Help please
Post by: bolt pp on February 10, 2009, 03:48:25 PM
in all seriousness, this is the actual fourmula for it.............

http://i3.photobucket.com/albums/y67/tanyeewei/mathematics/log3.jpg (http://i3.photobucket.com/albums/y67/tanyeewei/mathematics/log3.jpg)


Title: Re: Help please
Post by: Colchester Kev on February 10, 2009, 03:49:53 PM
LOL pack it in you plum.




Title: Re: Help please
Post by: MC on February 10, 2009, 03:51:36 PM
Ugh, hard to find this dude

Best I could find:
http://forumserver.twoplustwo.com/32/beginners-questions/deals-formula-tournys-235500/
http://forumserver.twoplustwo.com/15/poker-theory/value-t-230692/


Title: Re: Help please
Post by: bolt pp on February 10, 2009, 03:56:19 PM
Ugh, hard to find this dude

Best I could find:
http://forumserver.twoplustwo.com/32/beginners-questions/deals-formula-tournys-235500/

lol, love it, direct kev to the begginers questions section!!!  rotflmfao


Title: Re: Help please
Post by: Dewi_cool on February 10, 2009, 03:57:22 PM
Jane must be out


Title: Re: Help please
Post by: Colchester Kev on February 10, 2009, 03:59:09 PM
PMSL .... behave you mugs !!


I found this

Here's an example:

When the tournament was cancelled, there were 15 players remaining, and your chip count was 37,500. The total chips in play were 300,000. The remaining prize pool was $11,000.00 and the minimum prize was $250.00.

Prize pool to be divided equally: $250.00 x 15 = $3,750.00
Prize pool to be divided based on chip count: $11,000.00 - $3,750.00 = $7,250.00

Your "minimum prize" share: $250.00
Your share based on your chip count: $7,250.00 x (37,500/300,000) = $906.25
Your entry fee refunded: $3.00
Total money refunded to your account: $1,159.25


I know it says cancelled tournament, but the formula is the same for a chip count chop.


Its just really difficult to write it down so it is easily understood.


Title: Re: Help please
Post by: Longy on February 10, 2009, 04:02:49 PM
PMSL .... behave you mugs !!


I found this

Here's an example:

When the tournament was cancelled, there were 15 players remaining, and your chip count was 37,500. The total chips in play were 300,000. The remaining prize pool was $11,000.00 and the minimum prize was $250.00.

Prize pool to be divided equally: $250.00 x 15 = $3,750.00
Prize pool to be divided based on chip count: $11,000.00 - $3,750.00 = $7,250.00

Your "minimum prize" share: $250.00
Your share based on your chip count: $7,250.00 x (37,500/300,000) = $906.25
Your entry fee refunded: $3.00
Total money refunded to your account: $1,159.25


I know it says cancelled tournament, but the formula is the same for a chip count chop.


Its just really difficult to write it down so it is easily understood.

Looks good to me Kev and understandable. Can't think of an easier way to show it, of course if they did the chip counts based on ICM no fcker would understand it.


Title: Re: Help please
Post by: Jon MW on February 10, 2009, 04:11:14 PM
Unless I missed something

Payout = [remaining prizepool - (minimum prize x number of players left)] x (chipcount/Total Chips)

Does that help?


Title: Re: Help please
Post by: Colchester Kev on February 10, 2009, 04:12:21 PM
Unless I missed something

Payout = [remaining prizepool - (minimum prize x number of players left)] x (chipcount/Total Chips)

Does that help?
this is amazing, i'm learning and having fun, wow!!! what a day!!!!

(http://www.rjcooper.com/2+2/algebra.jpg)


Bolts is easier to understand than that !


Title: Re: Help please
Post by: Wardonkey on February 10, 2009, 04:14:54 PM
Pay everyone the lowest remaining prize.

Divide the remaining prize money by the number of chips in play. This give you a cash value for each chip and you can simply cash out the players according to how many chips they have.

I'll let bolt express that in algebra...







 


Title: Re: Help please
Post by: Jon MW on February 10, 2009, 04:35:17 PM
Problem solved.

I think l'hopitals rule covers it.

(http://www.math.waikato.ac.nz/~kab/101/lect16p1.png)

if that doesn't help then I don't think anything will


Title: Re: Help please
Post by: Longines on February 10, 2009, 05:40:25 PM
In my spreadsheet, it is

=IF(A6>=$G$1,VLOOKUP(Deal!A6,'Prize Pool'!$A$6:$B$12,2),VLOOKUP(Deal!$G$1,'Prize Pool'!$A$6:$B$12,2))

and

=IF(A6<=$G$1,(('Prize Pool'!$B$3-Deal!$C$14)*B6/$B$14),0)

couldn't be clearer really.


Title: Re: Help please
Post by: Cf on February 10, 2009, 07:10:19 PM
I get it as:

Prize Money = minimum prize + (remaining prizepool * (your chips / number of chips in play))


Title: Re: Help please
Post by: david3103 on February 11, 2009, 02:10:46 PM
T= Total Prize Pool
n = Number of players remaining
M = Prize for fininishing in nth place
Ci = chipstack for player i
S = total chips in play
P = Prize for player i

Pi =M+(T-(M x n))(Ci/S)

I think

from the earlier example
T =11,000
n=15,000
M = 250
Ci = 37,500
S = 300,000

Pi = 250+(11,000-(250x15))(37500/300000)

Pi = 250+(7250x.125)
     
Pi = 250+906.25 = £1156.25


It shouldn't be too hard to devise as a spreadsheet, might even waive my usual fee if someone could sort out  my problems with downloading the blonde cardroom...