I actually like the 5 hour late reg tourneys. They usually have a really good structure and a large guarantee... I personally hate 5k starters that late reg thru the 800 bb level. i think its 3 levels too many and creates a ton of added variance imo..
However you need to adjust. Most sites (bovada left ny
) and all casinos have seem to go to this long late reg/ re-entry tournaments to build guarantees. All my local casinos they do weekend long multiple flight tourneys allowing re-entry all the way thru right up to being able to enter at the beginning of day 2. It's like that every where. The only one day tourneys left are poorly structured, over raked dailys..
So you need to adjust. You can't look at a $22 online mtt as a $22 mtt anymore. You have to view i as 2-3 times the buy in, maybe more. I usually use a 2.6x the buy in rule for most tourneys, some are unique and require a different multiplier... Use a formula like this, play within your bankroll, and be able to fire multiple bullets so you are not at a disadvantage..