Calculate Payout Schedule for a Poker Tournament. Have you ever wondered about the money to be made off betting on the underdogs? Strategies Full-Pay Jacks or Better: If your tournament payout is based on the number of enrollment fees you receive, count the amount of prize money upon the completion of the tournament enrollment period. Ever wonder who is the best poker player in the world? Apr 29, 8.
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That is, the percentage increase the next to last finisher receives over the last place finisher should be the same as the percentage increase the winner receives over the player who finishes second. Obviously the dollar amounts will increase as you move upward among the finishers toward reaching the winner of the tournament.
Is there a formula I can use to generate the series or the percentage for each of the Z players? I know Im going to get a beating for this but heres what I came up with. Its a little buggy becuase it utalizes the goal seek function which we all know can throw some whacked results sometimes So if you get undesired results just reset the percentage and try again.
Edit Most of the time it will work fine. You also need another parameter for the top prize in order to derive the percent. Edit This wasnt mentioned in your post. In addition to this, you need a little bit of code. This is a worksheet change event that will fire when any of the cells highlighted in yellow above are changed. Im no programmer so Im sure this can be made better by someone else that wants to look at it.
Im sure named ranges or Dim'ing variables in place of the ranges would make it easier to read. Intersect Target, Range "B1: Value Then Range "B4".
End If If Range "B4". Value Hope thats what you were looking for I set mine to for this. You can download it by right-clicking spreadsheet-home-game. Here are the different features of the spreadsheet:. This sheet calculates the mathematics of making a deal at the end of a tournament.
The formula used in the spreadsheet is based on the assumption that each player's probability of winning the tournament is based on the percent of the total chips that they hold. This sheet is a tournament payout calculator that calculates the amount paid out to tournament winners for both rebuy tourneys and non-rebuy tourneys. See my tournament payout structure page to read more about how to set your tournament payouts. This sheet allows you to calculate the different starting chip value combinations.
Specifically, it does a couple of things:. For example, a Deuces Wild game declares that all twos are wild, while twos are just normal cards in Jacks or Better. Therefore, a pay table that is favorable in Deuces Wild will probably be very poor for Jacks or Better because there are no wild cards. Some of the pay tables that machines use are downright deceptive.
For example, here are two pay tables offered for Deuces Wild games - which one do you think is better? Table 2 looks much better, doesn't it? However, Table 1 is actually a better gamble because of the higher Four of a Kind payout. Table 1 pays out a maximum of This goes to show that pay tables can be deceptive, and you should always use a calculator or check the numbers on our site to be sure.
Another little known fact about pay tables is that they are the cause of volatility. If a table is "top heavy" meaning that a lot of the expected return lies in the bigger, rarer payouts, the machine will be very volatile as you lose quickly while waiting to hit a big hand.