thoughts on itm%

food for thought.

buy-in at 2+.25

1st place takes 9 = 4 buy-ins, profit of 3 buy-ins
2nd place takes 5.4 = 2.4 buy-ins, profit of 1.4 buy-ins
3rd place takes 3.6 = 1.6 buy-ins, profit of .6 buy-ins

win 1st, lose one, profit of 2 buy-ins
win 2nd, lose one, profit of .4 buy-ins
win 3rd, lose one, loss of .4 buy-ins

win 1st, lose two, profit of 1 buy-in
win 2nd, lose two, loss of .6 buy-ins
win 3rd, lose two, loss of 1.4 buy-ins

win 1st, lose three, break even
win 2nd+3rd, lose two, break even.

moral of the story? you want itm% near 25%, you better be getting 1st all those times. if you can only get 2nd, you best be ~50% itm. if you can only get 3rd, well.. best bust better than 62.5% itm.

get 1st, 2nd, and 3rd with equal frequency, you need ~37.5% itm

get
1st 51.85%
2nd 37.04%
3rd 11.11%

need
above ~31.76% itm