Quote:
Originally Posted by DMoogle
There's an inherent advantage in late regging because people have already busted in the earlier levels. https://www.pokernews.com/strategy/i...swer-40229.htm
As for maxing ROI, I'm not sure if the advantage gained is more than the value you get from players being so bad in the beginning when deep, but it's almost certainly better from an hourly rate perspective to max late reg.
I think we agree in concept. Maybe it's just a matter of terminology or definitions, but I would not use the word "advantage" or the phrase "advantage over other players." ICM has nothing to do with gaining or measuring an "advantage" over other players. It's a measure of the value of your stack at a certain point in the tournament.
As the PokerNews article you linked says: "
Late registration doesn’t give you an edge against other players, but it does give you an ICM boost, in other words your stack would be worth more in real money terms right away if you joined the tournament late."
You're just entering with a stack that has a lot of value, even though it is short. This does not give you an advantage over players that registered level 1, and it is not necessarily more advantageous than registering level 1. (Example, if I reg level 1, I can have a 30-40bb stack by the start of the max late reg entry level, you cannot.) It just means that you are entering the tournament with a short but valuable stack. Your short stack is worth as much as any other 10-15bb stack (no matter when they entered) and it is worth less than any larger stack (no matter when they entered). Obviously the stack is worth more than busted stacks, but ICM has nothing to do with gaining an advantage.
It's about value not advantage, which are not the same thing. It's not a comparison of the value of stacks based on when they entered, it's a measure of the value of your stack at the moment you enter. But this does not give you an advantage over other players remaining in the tournament in any way.