Tournament structure seems to be a hot topic these days, what with triple chip stacks the latest fad. Having covered more than my share of poker tournaments (and having played in some to boot!), I feel like I have an excellent sense for what makes for a good structure. It is not one element more than any other element; it is a series of elements designed in tandem.
1. Chips don't matter. The size of the starting stack is not the be-all, end-all of what makes for a good tournament structure. Too many times I see poker rooms promoting their tournaments by stating that the starting stack is "100,000 chips!" or something similar. Well, great. In a vacuum, that information is completely useless to me. You can give me 100,000 chips in my starting stack, but if you set the starting blinds at 10,000 and 20,000 the structure is going to suck balls.
2. How long are the levels? This aspect is often over-looked by beginning poker players. They don't understand the impact of short levels on the tournament structure. Longer blind levels allow skill to be more of a determinant than luck in the outcome of the tournament because there is less rapidly escalating pressure from blind increases.
Some of the single-table satellites at the WSOP have 15-minute blind levels. In 15 minutes, you *might* be able to get one orbit of hands in before the blinds go up. It's not hard to hit a card-dead stretch of 25 hands in hold'em. 25 hands at 15-minute levels would put you well into Level 3 before you even play a hand!
Many of the low buy-in tournaments that poker rooms offer to try to get players in the door feature short blind levels like this. The poker rooms don't make much money (if any) on those tournaments. It doesn't serve them any purpose to have the tournaments take eight hours to complete. They want you in the cash games, so they make a quick structure to finish the tournament in short order.
On the other hand, premier poker tournaments typically offer 60- or 75-minute levels. The WSOP Main Event utilizes 120-minute levels. These longer levels allow skilled players more time accumulate chips before the structure of the tournament catches up to the chips in play and forces players to start busting (the "40 Big Blind" average stack mark of a tournament).
3. How dramatically do the blinds increase? Looking at the blind increases is where the size of the starting stack has more of an impact. A good structure will allow the players to play very deep at the start of the tournament (anywhere from 100 to 300 big blinds in NLHE) and will only gradually increase over time. For example, the EPT structure is:
50/100, 75/150, 100/200, 150/300, 150/300/25, 200/400/50, 300/600/50, 400/800/75, 500/1000/100, 600/1200/100, 800/1600/200, 1000/2000/200
and so on from there. Compare that with the HORSE tournament I played at the Nugget a few days ago, where the limits jumped from 600/1200 to 1000/2000! Any time the blinds double, you're dealing with a crap structure because one level change effectively cuts everyone's stacks in half. Luck becomes a much bigger factor than skill at that point.
4. What about the prizes? This is something that most people don't ever think about. A tournament structure is only as good as its blind structure AND its prize structure. I was incensed when the payout structure was posted for the HORSE tournament at the Nugget. With 190 runners putting $38,000 in the prize pool, $12,300 went to 1st place and $6,700 went to second place. That's a full 50% of the prize pool! 18th place, the bottom rung of the ladder, paid only $360 on a $240 buy-in and required an 11-hour investment of time. Investing 11 hours to get a 50% profit is a waste.
Top-heavy payout structures don't help the poker economy or an individual poker room's economy at all. Instead they redistribute a disproportional amount of money to one or two players and create ill-will in the other players, who rightly feel it is a waste of time to put so many hours and so much effort into a tournament for so little return. More than one person I spoke to at the HORSE tournament said they would *not* return for future tournaments at the Golden Nugget unless the prize pool was distributed more evenly.
The most typical payout structures that seem fair to me are those where a minimum-cash returns roughly double the original buy-in (depending on precisely how many players enter and where the prize breaks fall).
5. A Lesson from the 2009 WSOP. When you're designing your tournament structure, give some consideration to how many players you expect. Even if you have space and dealers, you can't allow an unlimited number of players to buy into a three-day tournament. Event 4, the $1,000 Stimulus Special, proves this point. Day 3 of that event was scheduled to be the final table -- 9 players, playing for roughly 6-8 hours to produce a winner. Instead, because so many players entered the tournament, *50* players still remained at the end of Day 2. The WSOP did the right thing and adjusted the tournament to a four-day schedule, but the problem could have been avoided either by capping the number of entrants or planning for this contingency in advance.
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