Do you take the double chance here?

Enut

The main event last night was a new type of tourney for me, with the ability to rebuy right up until the tournament finished.

I had an interesting decision when I busted out in 8th in that I could rebuy 2000 chips for £20. The blinds were 1500/3000 so less than one BB and I would have been BB next hand and everyone else had a much larger stack (smallest was about 40,000 on my table I think). HOWEVER 8th paid about £200 and first paid in excess of £1,600, so although the odds of getting back to a playable stack or even laddering were small the potential rewards may have been worth it.

I didn't take the second chance rebuy but I think I may have got it wrong, what are your opinions?

Matt237

In Response to Do you take the double chance here?:

The main event last night was a new type of tourney for me, with the ability to rebuy right up until the tournament finished. I had an interesting decision when I busted out in 8th in that I could rebuy 2000 chips for £20. The blinds were 1500/3000 so less than one BB and I would have been BB next hand and everyone else had a much larger stack (smallest was about 40,000 on my table I think). HOWEVER 8th paid about £200 and first paid in excess of £1,600, so although the odds of getting back to a playable stack or even laddering were small the potential rewards may have been worth it. I didn't take the second chance rebuy but I think I may have got it wrong, what are your opinions?
Posted by Enut

Your answer is here, you did the right thing

hhyftrftdr

I think you're gonna have to get lucky/spin up too many times to make it worthwhile, especially starting the next hand in the BB and only being 4 handed.

Could perhaps argue a case if you were on the FT and just busted from the SB though....

F_Ivanovic

ITM qn... work out your expected ev with 2000 chips. If it's more than £220, it's worth it! You have about a 4% chance of getting back to 44k which might give you an expected ev of £350-£500 maximum. So 4% of the time you gain about £200. 96% of the time, you lose £20. 20x9.6 = Just shy of £200. £200x 0.4 = £80

So net ev is -£120. I guess a small % of the time you might get a pay jump without getting your stack completely back in contention, but it's going to effect it only a small amount.

So yeah, I'm pretty sure you made the right decision. If blinds were a bit smaller and you only needed 3 double ups to be back in some contention, then maybe it becomes closer and it might be fine to take the double chance.

MattBates

You shouldn't take the rebuy at this point but should have taken it earlier IMO. As to when is a better point of discussion rather than taking it now to try an epic spin!

WP on the run!

Enut

Thanks for the posts guys and especially f_ivanovic for putting some meat on the bones with the calculation.

Enut

In Response to Re: Do you take the double chance here?:

You shouldn't take the rebuy at this point but should have taken it earlier IMO. As to when is a better point of discussion rather than taking it now to try an epic spin! WP on the run!
Posted by MattBates

I thought it was a second chance tourney not a rebuy? i.e. I could only 'rebuy' once I had busted. Correct me if I am wrong.

Thanks for the congrats. It was one of my standard 'small stack cling on for dear life' epics. I know you should just pile it in with any two when you're as short as I was for long periods but I cant bring myself to do it with the rubbish I was getting at that stage, plus people were busting out, which helped!

hhyftrftdr

In Response to Re: Do you take the double chance here?:

In Response to Re: Do you take the double chance here? : I thought it was a second chance tourney not a rebuy? i.e. I could only 'rebuy' once I had busted. Correct me if I am wrong. Thanks for the congrats. It was one of my standard 'small stack cling on for dear life' epics. I know you should just pile it in with any two when you're as short as I was for long periods but I cant bring myself to do it with the rubbish I was getting at that stage, plus people were busting out, which helped!
Posted by Enut

I didn't play it but I think 'double chance' means you can take it whenever you desire, regardless of your stack or size of the blinds etc ect

Enut

In Response to Re: Do you take the double chance here?:

In Response to Re: Do you take the double chance here? : I didn't play it but I think 'double chance' means you can take it whenever you desire, regardless of your stack or size of the blinds etc ect
Posted by hhyftrftdr

Ah ok, thanks for clarifying that. Imagine how much better I could have done if I had known the rules!

MattBates

In Response to Re: Do you take the double chance here?:

In Response to Re: Do you take the double chance here? : I thought it was a second chance tourney not a rebuy? i.e. I could only 'rebuy' once I had busted. Correct me if I am wrong. Thanks for the congrats. It was one of my standard 'small stack cling on for dear life' epics. I know you should just pile it in with any two when you're as short as I was for long periods but I cant bring myself to do it with the rubbish I was getting at that stage, plus people were busting out, which helped!
Posted by Enut

You could take at any time. Some people (me included) took it at the start.