Added value is not a concept that you will necessarily encounter early in your poker career but it is one that it is very important that you become familiar with as that career progresses. Added value is a way to enhance your winning potential when you play poker. As soon as you’ve learned how to cash out your pokerstars bonus, you should start searching for added value poker tournaments.
How Does Added Value Work, Exactly?
Added value refers to a situation where your poker investment is worth more than you paid for it. The best example of this comes when you look at tournaments with guaranteed prize pools. If you pay $100 to get into a tournament with a guaranteed prize pool of $50,000, the tournament will need 500 entrants to have enough to pay everyone out. This is fair value for you, since the pool is paying $500 for every $1 invested and you have about a 500-to-1 chance to win all things being equal (although obviously, being a superior player, you would expect to have a greater than average chance). However, if the tournament only gets 400 players, you have found yourself in a great position. You are now 400-to-1 to win on average, while the tournament is still paying out 500-to-1. This is added value – nowhere near as complicated as having to understand card removal theories.
Where Can I Find Added Value?
The potential for added value occurs anytime a poker tournament is offering a guarantee. However, many times the tournament will make their guarantee, which means no added value. You do not lose value, since the prize pool is not cut off when the guarantee is reached; it will continue to grow as more players sign up, but you don’t have any particular edge. It is only when the tournament fails to make its guarantee that you have an advantage.
How Do I Find Added Value?
This is tricky. Big, well-publicized tournaments with large guaranteed prize pools almost always make their guarantee. Don’t be fooled if a tournament needs 1000 players to make their guarantee and they only have 500 with five minutes before the tournament begins. Others are out for added value just like you are and there will be a mad dash to sign up and get in on the action in those last five minutes. Furthermore, registration will not close when the tournament starts and may go on for another hour. Your best bet to find added value is to look for low buy-in, less well publicized tournaments during off hours with games other than no limit hold’em.