Like the look of the brand new Mystery Bounty format however unsure tips on how to work out what a random bounty is value? It’s truly quite simple.
PKO tournaments have dominated on-line poker for just a few years now however haven’t had the identical impression reside. This is for logistical causes, it isn’t as simple to trace the progressive nature of the bounties in a reside poker setting in comparison with on-line. There have been reside bounty tournaments however the bounties by no means enhance, in order that they change into much less engaging the deeper you get within the occasion as the usual payouts are a lot greater.
The Mystery Bounty format, just like the one on the Wynn not too long ago, is likely to be the center floor reside poker must catch as much as the bounty craze. It isn’t a progressive bounty, in different phrases your individual bounty doesn’t enhance the extra scalps you declare, nevertheless it does imply some bounties are greater than others, and a few are big.
The manner it really works is, let’s say there are 100 gamers in a $3,000 MTT and the common bounty is $1,000. There will likely be some decrease bounties, perhaps 70 of them will likely be $500. There will likely be just a few big bounties, let’s say a $10k bounty and 4 $5k bounties. Then the remaining 25 bounties will all be $1,400 every.
At no level does anybody understand how a lot the bounty is on one other participant till they’ve been eradicated. In reality within the case of the Wynn, anybody who obtained a bounty spun a raffle wheel to choose their prize, which I believe was the appropriate strategy to do it.
How to play when you do not know the bounty?
So how will we method this strategically? Especially the truth that we don’t know what the bounty will likely be once we win one?
I cowrote PKO Poker Strategy with Dara O”Kearney and we devised a system for calculating the percentages it’s good to name for a bounty, based mostly on the worth of the bounty and in addition the progressive nature of the format. We dismissed what is called the ‘chip conversion’ technique as a result of it didn’t actually take into consideration the progressive worth of bounties.
However, the chip conversion technique is sensible right here, and the thriller ingredient is comparatively easy to account for, as Dara defined:
I do know you’re joking however technique could be comparatively easy. Just work out what bounty could be on common and assume that’s the bounty
— Dara O’Kearney (@daraokearney) July 6, 2021
Turn the bounty into chips
So first we use the chip conversion technique. This is the place the worth of the bounty is added to the calculation as if it have been additional chips within the pot. If a beginning bounty is value 1/3 of your buy-in then it’s value an additional 1/third of your beginning stack, which you deal with like it’s useless cash within the pot.
So let’s say in our instance above the $3,000 buy-in will get you a ten,000 beginning stack, in that occasion a mean beginning bounty is value 3,333 additional chips within the pot. At the beginning of the event that’s what you’ll deal with the bounty as, as it is going to be the common bounty.
Let’s simply say you’re the Big Blind, the blinds are 500/1,000 with a 100 ante, and the Small Blind (whom you cowl) shoves for 10,000 chips. It prices you 9,000 chips to name to win a possible pot of 20,900. If you do the maths then this implies you want 43% fairness to name, assuming we’re a good distance from the cash. However, the Small Blind’s bounty is value an additional 3,333 making the ultimate pot 24,233, that means you really want 37% fairness to name.
— Brad Owen (@TheBradOwen) July 6, 2021
But let’s say 50 gamers have been eradicated, together with 40 x $500 bounties, 9 x $1,400 bounties and one $5,000 bounty. That is $37,600 faraway from the prize pool, leaving $62,400 in bounties between 50 gamers. Now the common bounty is value $1,248 as a substitute of $1,000. $1,248 is 41.6% of our $3,000 entry payment, which implies a mean bounty is now value 4,160 chips. So when deciding whether or not to name for a bounty deal with it like there may be an additional 4k of useless cash within the pot.
If we mirror the primary instance, the common stack will likely be 20,000 now, make the blinds 1,000/2,000 with a 200 ante and once more have the Small Blind shove into the Big Blind, this time for 20,000 chips. The Big Blind has to name 18,000 to win a pot of 41,800, which might as soon as once more be 43% fairness. However with that additional 4,160 in faux chips from the bounty, the ultimate pot is definitely 45,960, or 39% fairness.
The common bounty is larger now however we truly name tighter right here. The common stack will likely be 20,000, so the common bounty right here is 20.8% of the common stack, somewhat than 33% of the common stack within the first instance. That may shock just a few individuals, nevertheless it is without doubt one of the elementary discoveries we made in PKO Poker Strategy, that bounties are value probably the most by way of fairness at first of a event. ICM can be extra of an element, however I have not included that in my very tough examples right here.
I believe the Mystery Bounty format is a winner and it seems just like the Wynn have discovered a strategy to let reside gamers benefit from the enjoyable of bounty tournaments the best way PKOs have executed on-line. In reality, I believe it is just a matter of time earlier than we see them on-line too.
Would you play a Mystery Bounty? Let us know within the feedback: