tourney chop - chip chop vs ICM - Gambling and Probability

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tourney chop - chip chop vs ICM

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01-30-2008 , 11:10 PM

xGREGORx

old hand

Join Date: Oct 2004 Posts: 1,270

For a 3-way tourney chop, I was comparing the "chip chop" method with the "ICM method" to figure the payout amounts. Can anyone check my math to see if I did this correctly? Thanks

3 players:
Player 1 - 15,000,000 chips
Player 2 - 10,000,000 chips
Player 3 - 5,000,000 chips

1st place $ = $300,000
2nd place $ = $150,000
3rd place $ = $100,000

By chip chop, I figured...
Player 1 gets $275,000
Player 2 gets $183,333
Player 3 gets $91,667

By ICM chop, I figured...
Player 1 gets $217,500
Player 2 gets $186,667
Player 3 gets $145,833

Does this look right? Thanks ----xGREGORx

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01-31-2008 , 02:21 AM

jay_shark

Pooh-Bah

Join Date: Sep 2006 Posts: 3,655

You may use an ICM calculator to figure this out but you can also do it by hand.

$Ev(player1) = 15/30*300,000 + (10/30*15/20 + 5/30*15/25)*150 000 +
(10/30*5/20 + 5/30*10/25)*100,000 = $217,500

$Ev(player 2) = 10/30*300,000 + ( 15/30*10/15 + 5/30*10/25)*150,000 + (15/30*5/15 + 5/30*15/25)*100,000 = $ 186,666.66666

$Ev(player 3) = 550,000 - 217,500 - 186,666.666 = 145,833.3333

As a verification , we check 5/30*300,000 + (15/30*5/15 + 10/30*5/20)*150,000 + (15/30*10/15 + 10/30*15/20)*100,000 = 145,833.3333

Everything looks right.

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01-31-2008 , 08:36 AM

Jean

old hand

Join Date: Nov 2007 Posts: 1,585

Quote:

Originally Posted by xGREGORx

Errr in your chip chop player 3 is getting less than the 100,000 he is guaranted ... seems dubious, doesn't it ?

You should give 100,000 to everyone as a start and then do whatever calculation you like for the rest of the prize pool I think.

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02-01-2008 , 06:15 PM

Peter Harris

Carpal \'Tunnel

Join Date: Nov 2003 Posts: 8,424

i wanna chip chop with that 3rd guy

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