If we tried to make a living playing in online poker tournaments, it probably wouldn't be much of a living. We've made points (which would be money in a casino) less than one-fifth of a time -- and while we haven't done the math, big payoffs at a final table probably would be offset by frequent losses at other times.
So are local free live tournaments any better? Yes -- as we've had "top five" finishes 51 times in 200 nights, and five in our last 20 nights (not counting cash games in Florida and at sea). Two recent third-place finishes at The Red Barn helped our record, which is based on what a Kansas City casino pays for its tournament....
BUY-INS: 200 nights x $50 = $10,000
First -- 5 ($2,500)
TIE for first: 1 ($450)
Second - 8 ($3,200)
Third -- 9 ($2,700)
Fourth - 8 ($1,600)
TIES for fourth:
4 two-way ($600)
1 three-way ($67)
Fifth -- 12 ($1,200)
TIE for fifth: 3 ($150)
TOTAL -- 51 for $12,467
Our "return on investment" after 200 games has dipped to 24.7%; it was much higher previously. This may explain why many "poker pros" constantly play cash games, and probably make the bulk of their living there.
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