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Deals in MTTs

by PokerStrategy.com

1

Introduction

In this article

The different type of deal methods

Deal or no deal?

Which deal goes with which stack?

Instead of playing out the tournament, the remaining players of an MTT final table are able to agree upon dividing the money amongst themselves. The option for a deal appears as soon as the final table has been reached, but mostly it's only used when only two to three players are left.

The fact that the blinds and antes are relatively high compared to the average chip stack at the end of a tournament, makes a deal rather attractive. This article discusses the pros and cons of deal makings in MTTs.

The different possibilites for making a deal

The Chip Count Method

A popular method which has been deemed fair is to divide-up the prize pool according to the chip counts. The remaining prize money for the open places is added up, the minimum amount for each player is subtracted and the rest is proportionally paid out to the players depending on the amount of their chips.

EXAMPLE

Three players are still sitting at the final table. The payouts for the remaining open places total up to:

1st place: $ 50.000

2nd place: $30.000

3rd place: $20.000

Total: $100,000

The chip counts of the players are:

Player A: 200.000

Player B: 120.000

Player C: 80.000

Total: 400,000

In proportion to the total number of chips in the game they have:

Player A: 50%

Player B: 30%

Player C: 20% of the chips.

As the third place receives a guaranteed $20,000 prize money share, this is used as the base for the deal as every player receives this amount in any case. So first of all, $60,000 will be subtracted (3x$20,000) from the $100,000, divided amongst the players, and the remaining pool of $40,000 will be split according to the chip counts. Player A receives 50%, player B 30% and player C 20% of the money.

The bottom line looks like this:

Player A: 40.000$

Player B: 32.000$

Player C:28.000$

PRO AND CONS

As seen in the example, the chip count method offers every party a fair distribution. This is only the case, though, if the players' stacks are very even. In the example, player C wins more as a short stack than if he dropped out immediately, and the chip leader receives less than he would for a regular tourney win.

This changes, though, as soon as the chip counts of the individual players become more imbalanced.

An example on the basis of the PartyPoker payout structure:

$11 ($10 + $1 Fee) Regular tournament with 500 participants, 3 players remaining

Prize pool: $5,000

1st place receives $1,250 (25%)

2nd place receives $700 (14%)

3rd place receives $413 (8,26%)

The players have:

Player A: 80%

Player B: 10%

Player C: 10% of the total chips in play.

The remaining prize pool amounts to $2,363. As the third place finisher receives $413, they're subtracted from the prize pool. Thus $1,124 remain ($2,363 - $1,239), which will be divided according to the amount of chips. So player A receives another $889.20, and players B and C receive $112.40.

The bottom line looks like this:

Player A receives 1312,20$

Player B receives 525,40$

Player C receives 525,40$

In this example, the chip leader fares better than the two short stacks. While in a normal payout he'd receive 25% of the prize pool, he now receives 26%. This proves that the chip count method, so dividing the prize pool according to the chip counts, is more profitable for the chip leader if the stacks aren't even.

The ICM Method

You calculate the value of the chips with the help of an ICM calculator and divide the remaining money accordingly. These values are fairer than with a chip count deal. You can visualize what is fair and try to convince the opponents to go in the direction which is more profitable for yourself. Because generally, only a few opponents actually know what would really be fair.

For the previously mentioned examples it would result into:

Example 1 with 50%, 30%, 20% stacks (chip count deal in brackets):

Player A: $38,392, ($40,000)

Player B: $32,750, ($32,000)

Player C: $28,857, ($28,000)

Example 2 with 80%, 10%, 10% Stacks (chip count deal in brackets):

Player A: $1,133, ($1,312)

Player B: $614, ($525)

Player C: $614, ($525)

You can clearly see that the big stack gets worse off, the middle stack better off and the short stack clearly better off than with the chip count deal.

The Post Deal Method

Another method, the post deal method, entails evenly dividing the prize pool amongst the remaining players and to continue playing for the rest. This method is often used with evenly big chip stacks, as everybody receives the same share of the prize pool and the rest will be played off. The players are left to take care of who will receive the money – only the winner, or the remaining places will be paid extra.

EXAMPLE

$11 ($10 + $1 Fee) Regular tournament with 500 participants, 3 players remaining

Prize pool: $5,000

1st place receives $1,250 (25%)

2nd place receives $700 (14%)

3rd place receives $413 (8.26%)

The remaining prize pool amounts to $2,363. The players opt for the post deal method and divide the pool into three equal amounts with a portion remaining. Thus everybody receives $700 and the remaining $263 ($2,363 - $2,100) is attributed to the winner.

The bottom line looks like this:

1st place receives $963

2nd place receives $700

3rd place receives $700

It shows that this method is more profitable for short stacks. The third placed finisher would at this time receive the prize money for the second place. In addition there is still the opportunity to win the $263 for first place. If you were chip leader at this point though, this deal method is not the best as you are worse off than with the chip count method, even if you win.

The Seat + Chip Count Method

This method simply combines the post deal and chip count methods. First of all, every player receives a fixed amount for his seat, for still being at the table and having some chips, as with the post deal method. On the other hand, the remaining amount will not be played off, but divided via chip count deal.

This method was created because short stacks often didn't want to accept chip count deals for the reason that not only their chips have a value, but also the seat they sit on. Because with this they still have the opportunity to win the tournament. (“All you need is a chip and a chair.”)

ICM calculations are fairer, but only a few people understand them, let alone being able to work them out in their head. The shorter your own stack, the more you profit from a big share for the seat. As a super short stack you should suggest such a deal.

Deal or No Deal?

Of course it's up to everybody to accept a deal or not, regardless in which position you are in, at this point. Nonetheless, there are some points which are in favour of a deal, and some which aren't; and depending on the current situation, you should consider these points when coming to a decision.

Pros:

You are a big stack and could fare just as well or better with a deal than if you win the tournament.

You yourself are too inexperienced in tournaments or final tables respectively, and rate the opponents to be stronger.

You are tired or are out of time.

The blinds and antes are so high that you could be blinded to death before you receive a good playable hand.

You are on scared money and would rather have more security than the maximum EV.

Cons:

As a short stack you barely get more with a deal than if you get busted in the next hand.

As a chip leader the profit with a deal is considerably smaller than with splitting via chip count, or the prize money for first place respectively.

The opponents are much weaker than yourself and the chances are high that you could just as well win the tournament without a deal.

Which Deal with which Stack?

Some rules of thumb which deals you should prefer with which stack.

Deal as chip leader

As a chip leader with high blinds, where all your opponents have less than 10 BB, you should only accept a deal which almost secures the first place win or corresponds with the chip count deal. This is because you can simply put every opponent under pressure with an all-in push. If the opponents have 15-20 BB, it's more difficult as you'll risk too much with an immediate all-in and aggressive players could re-steal. Thus it depends on how passive your opponents are.

Post deal method as chip leader

Here you should try to make a chip count deal. This is good for you in that you have an opportunity to bring in more than a first place win, which is advantagous as nobody else might notice this fact, and even if they do, the others might want to have the added security. If the opponents are on scared money, the post deal method could have the negative effect of them playing better, as they will then have more money. Thus the chip count deal is a better option than the post deal method for us.

Deal as middle stack

Whether a deal is good or bad often depends on the situation and the opponents' playing styles. If you are put under pressure by the big stacks as you don't want to bust before the short stacks, you often have no other choice than to play very tight and slowly get blinded down. In such a situation you should rather agree with the deal. If possible, you should try to use the ICM method.

Deal as short stack

As a short stack, you should actually never agree to a chip count deal. The prize money should either be divided via the ICM method or with a share for the seat. The value a short stack has is often underestimated by many, as it is often much easier to play it in an optimal way. If e.g. you are the only player with less than 10 BB, you can also push all-in with marginal hands against the chip leader, whereas middle stacks are often forced to fold after a re-raise from the big stack. Quite often you can get a short stack into the heads-up like this and try your luck, as most players are simply too careless with their chips.

Conclusion

Whether or not someone should look for a deal with their fellow players is often an individual decision. Often the question is simply: How big are my chances to win more if the tournament is played off and not stopped prematurely, and am I willing to gamble for such high amounts?

If you are in favour of a deal, the chip leader should principally pick the standard chip count method, whereas the ICM method is preferable for a middle or short stack.

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