Chip Counts

[graculus]

What do players on here understand by a Chip Count?

My understanding of a chip count is that prize money should be split with some relationship to how many chips they have, ie if there are three left with 50%, 40% and 10% of the chips, each player gets the 3rd prize plus a percentage of the remaining prize pool equal to his percentage of chips. So this fairly reflects the probability of each player winning had the competition been played to a finish.

Both poker venues I play regularly set an arbitary finish time for comps at which time whoever is in front at that moment gets the first prize etc etc.  This seems a pretty unsatisfactory way of doing it as difference of one chip can mean nearly doubling your prize.  It creates a ridiculous sitution as the finish time approaches where the short stacks have no option but to play all-in on anything to try and improve their position and chip leaders don't have to play at all if they are far enough in front.

Is this common practice at all casinos? Any thoughts?

G

[snoopy1239]

Yeah. That's ridiculous.

You're bound to get chip leaders eiher playing slow or not playing at all when the clock nears its end.

[Junior Senior]

hi graculus.
the way you describe it hapening now is how it used to happen at Notts and there were situations where the chip leader would basically dwell on every decision (2 mins pre-flop, 2 mins on the flop, turn, river etc,) - it was rediculous! - this has changed now and it is in line with how you descib at the start of your post with each player being paid proportinately to their chip count versus whats left in the prize pool

[tikay]

Hi Graculus, not sure we have chatted before, so a belated welcome to blonde.

Where do you play? I mean, of course, where are they imposing this daft way of settling their comps?

It is utter nonsensical.

I hope you can persuade them to come to their senses, it is utterly & completely wrong.

[RED-DOG]

I was a few chips behind the leader last night and it made over $1000 difference

[tikay]

What was that, a Heads-Up match Red?

[snoopy1239]

I think he's refering to the $75 online comp he spoke of in another thread.

[RED-DOG]

I think he's refering to the $75 online comp he spoke of in another thread.

Oops sorry, yes I was, thanks Snoopy

[tikay]

WHOOSH

[Robert HM]

I got it but kept my head down, didn't want to see the tantrum re-activated

[tikay]

Yeah, best not start him off again.

[snoopy1239]

I feel his pain. 

[ariston]

Be honest red you must be happy with 2nd prize. There was no guarantee you were going to finish that high. I would be thankfull the crash came when I had a good stack and a nice payday, you may have had aces cracked the next hand and got a lousy consolation prize.

[RED-DOG]

I was very happy with second place, but I didnt like the way it was done and I didnt like being threatend with "I could just give everyone their money back" and I didnt complain for myself only, some poor blighters got a really poor deal

[RED-DOG]

Damn, I'm biting again!