When it comes to playing poker, a good knowledge of math matters. That's also true when you're computing success or failure at the poker table. The last time we added up the scoreboard of live tournaments 20 nights ago, our "buy-in total" was off by $500.
We correct that this time, along with one other error: a three-way tie for a $100 fifth-place prize should bring us $33, not $17.
But a careful check confirms in the last 20 nights, we've had three "top-five" finishes. All of them occurred at Lil Kim's Cove, which is a switch from months ago when the early-week games brought us better results.
After two ties for fourth place and a tie for fifth, we plug them into our hypothetical casino buy-in and payout. With the buy-in total corrected, we show:
BUY-INS: 360 nights x $50 = $18,000
First -- 6 x 500 ($3,000)
TIE for first: 1 ($450)
Second - 9 x 400 ($3,600)
TIE for second: 1 ($350)
Third -- 9 x 300 ($2,700)
TIE for third: 1 ($250)
Fourth - 13 x 200 ($2,600)
TIES for fourth:
6 two-way ($900)
1 three-way ($67)
Fifth -- 16 x 100 ($1,600)
TIES for fifth:
6 two-way ($300)
1 three-way ($33)
TOTAL -- 70 for $15,850
We would have lost $650 in the last 20 games, making our total pretend loss about 12 percent. In reality, we did lose money in two live tournaments during the last 20 -- $55 in buy-ins in Kansas City and Columbus. Can we find a way to turn this around?
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