Help please

[Colchester Kev]

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.

[bolt pp]

timmy has 7 sweets, johnny has 4, how many more sweets than johnny does timmy have?

[Colchester Kev]

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 ?

[bolt pp]

I think ive sussed it, is this it?...................

[bolt pp]

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

[bolt pp]

in all seriousness, this is the actual fourmula for it.............

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

[Colchester Kev]

LOL pack it in you plum.

[MC]

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/

[bolt pp]

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!!! 

[Dewi_cool]

Jane must be out

[Colchester Kev]

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.

[Longy]

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.

[Jon MW]

Unless I missed something

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

Does that help?

[Colchester Kev]

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!!!!

Bolts is easier to understand than that !

[Wardonkey]

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...