Mods, please do not delete this thread. WPT 500 tournament director Justin specifically requested that I start this thread to express my views on issues I have with this type of format, currently the rage in California and also being offered at the Aria this summer.
These are my views on this format, and that's what this forum stands for.
Rather than continually posting my objections to the WPT 500 in a thread dedicated to players attending it; the tournament director from Aria asked me to start a separate thread stating all my concerns.
I have nothing against Aria casino, the tournament director Justin, Matt Savage or the wpt. These are just my thoughts on what players should consider prior to entering the event.
A brief description of the event can be found here.
http://www.pokernews.com/news/2015/0...t500-21180.htm
"The event will feature a $565 buy-in and 10 starting flights. In 2014, the $1 million guarantee was nearly doubled after a prize pool of just shy of $1.8 million was generated from 3,599 entries. This year, more money will be awarded and it will all kick off on Sunday, May 31.
The remaining nine starting flights will then be spread out over the course of June and the beginning of July, with the final flight taking place as a turbo on Sunday, July 5 at 8 a.m. local time before Day 2 starts at 1 p.m. Day 3 will be the final table and take place on Monday, July 6."
"With 10 starting flights available, players will be allowed one reentry per day, plus the chance to play any and all starting flights. If a player who plays multiple starting flights advances to Day 2 in more than one instance, he or she will be able to carry the largest stack forward to Day 2."
They also employ a "pay as you advance" format.
There are several guaranteed payout points.
There will be a set min cash for day one flights.
From Justin:
"If you reach the top 12%-8.6% youll get $750. Top 8.5%-5.1% get $1000. Top 5% get an $800 bonus that day, and come back on Day 2 to play for more."
Here are my objections.
1) The scheduling is problematic. There are several series in Vegas running during the same dates that have "normal" schedules.
Invariably some players will enter one of the first wave of flights assuming it was a "normal" tournament, only to find out that they have to return over a month later to play day 2.
2) The event uses a "best stack forward" format. This format allows a player to play multiple flights and carry only their best stack forward.
This format has several issues.
Once you advance with a playable stack; several scenarios can arise when you enter subsequent flights. Even if you advance to day 2, your chips will have no value unless they exceed your previous qualified stack.
Here are a few scenarios to consider.
A player has advanced to day 2 and is playing a subsequent flight already in the money again. It's near the end of the round.
A) The player is guaranteed an extra $800 for advancing again to day 2. Their prior stack has more chips. They collect the extra $800, forfeit their stack, but pocket a few high denom chips to add to their already advancing stack during day two.
B) The Vegas tournament scene sees a lot of the same players entering similar buyin events. Often late in an event some players at the same table will know each other. Assume it's late on day one. Players are guaranteed $1000 and are playing to make day 2 and an additional $800. Player A has already advanced to day 2 in a prior flight with a playable stack, his friend Player B has not yet made day 2. It's near the end of the flight. Player A will have to forfeit all of their chips once the 5% number is reached but will receive an $800 bonus for advancing with even one chip. There is a huge incentive for Player A to dump all but a few of their chips to Player B during a hand between both players. Player A still gets their $800 for making day 2, and can make a deal with Player B for a percentage of whatever Player B ends up cashing for.
Matt has claimed to have run these events several times at commerce casino with no issues. Both scenarios described above are nearly impossible to detect and could go undetected hundreds of times before being caught.
3) Playing down to a set percentage of players rather than to a set level on each flight.
The wpt 500 plays down to different percentage of players remaining per flight, rather than the standard way of playing to the end of a given level.
The standard playdown system is completely fair. Each player plays the exact number of levels as their opponents before advancing to day 2.
The play down to a percentage system that this tournament employs has inherent flaws. Matt was kind enough to provide data from last years event.
As you can see below some players play one or even two levels more to reach the money and again later on to reach day 2.
Looking at the chart below; a player in one flight can make the money at 1500-3000. On another flight the same player would have to get all the way to 2500-5000 just to make the money. Players in the longer running flight actually can advance further than those in the shorter one and not even cash. Hitting the 5% mark to advance to day 2 and the $800 bonus ended anywhere from 4-8k all the way up to 6-12k limit.
Another issue is skill factor. Tournaments have players of various skill levels. Having players play different numbers of levels on a day one flight is a huge advantage to skilled players. If a skilled player enters every flight, they will have the opportunity to play extra levels against weaker players on some flights, thus having more chance to build up a stack for day 2.
Matt has said "well the averages are always the same when you play down to a certain percentage". Obviously the averages will be the same once they reach 5% of the field; but allowing some players to play one or more levels than others in the same event, and having some players cash at levels that others bust at, is inherently unfair.
Matt Savage:
"We are staying to the same percentage of players
Extreme example:
1,000 players, 5% advance, 50 players advance with an average of 300,000
100 players, 5% advance, 5 players advance with an average of 300,000
Again I have done this with numbers varying from 500 to 100 and and the average is the same, they finish around the same time and level, and the chip leader has come from both heats on different occasions. I you have some kind of statistical analysis that shows something different (which is impossible) than prove me wrong but you cannot because I have the data to prove it.
On the turbo heat they will play to a higher level that the others and whether it's an advantage or a disadvantage there is no proof and again I have done these before and the statistical data is that the average will be 300,000 and there is no advantage or disadvantage.
Here are the actual numbers from last year
Day 1A-433 Players
ITM Level 16 500-2K-4K 10:50pm
Finish at 1K-5K-10K 35:49 at 1:19am
Chip Leader 767,000
Day 1B-366 Players
ITM Level 16 500-2K-4K 10:46pm
Finish at 1K-4K-8K 4:23 at 1:15am
Chip Leader 1,143,000
Day 1C-457 Players
ITM Level 15 500-1,500-3,000 10:09
Finish at 1K-4K-8K 22:22 at 12:56am
Chip Leader 897,000
Day 1D-780 Players
ITM Level 16 500-2K-4K at 10:48pm
Finish at 1K-5K-10K 6:50 at 1:40am
Chip Leader 961,000
Day 1E- 879 Players
ITM Level 17 500-2,500-5K at 11:21
Finish at 2K-6K-12K 38:42 at 1:50am
Chip Leader 842,000
Day 1F (Turbo)-684 Players
ITM Level 19 1K-4K-8K at 12:37
Finish at 5K-15K-30K at 1:37pm
Chip Leader 865,000
3,599 Entries over the 6 heats
432 players in the money (12%)
180 players advanced to day 2 (5%)
Day 2 finished at 5:20am with NO DEAL being made"
4) My final objection is combining a turbo flight with the previous 9 standard flights and having all merge into day 2.
Not only are the individual 9 preceding flights playing to different limits and times, but now they are adding a turbo flight into the mix.
As you can see by the chart above, the turbo flight reaches the money and day 2 at much higher limits than the standard run flights. Again, of course as Matt said; the average stack will be the same, but allowing players to reach 15-30k in a turbo flight when other flights have ended as early as 4-8k is just asking for huge variance.
"Well this worked out last year" isn't a sufficient response to the huge chip stack discrepancies that this turbo flight can produce.
Those are my objections in a nutshell. I won't be playing this event. I offered this information so other players can make an informed decision.