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.

Click here to view the embedded video.

(found this video of Joe Hachem on Pot Limit Omaha on Mad World of Poker — thanks guys!)

The first one was a pretty easy 45-player sit ‘n go on Full Tilt Poker. Can’t believe how easy this was. I was a card-wreck. Picked up KK in the first hand, doubled up against a guy holding QJ (hit the Q on the flop) — picked up AA a couple hands later, took another big chunk of chips as I made a set of aces against his A9. Cruised on, never really got into trouble. Went heads-up with an 8-to-1 lead. Good stuff.

Second one was a 180-player SnG. Was carddead throughout the first 60 minutes, and actually only played like 3 hands in the first hour — but ended up doubling up twice with only 25 players to go. Got on the final table in 7th chip position, picked up 9T of hearts to make me a nut straight (against lower straight) — and got a lucky break when my KK beat AA. Once I won that hand, I pretty much sailed to victory.

Decided to take a break for a few days, kind of tired.

Anyway, 24$ 6-seater S&G, Full Tilt Poker, No Limit Hold’em — I get dealt KK in the very first hand. I raise 4BB, one call, SB Villain re-raises minimum, I shove in half my stack — he calls. Flop AJ4 rainbow. SB shoves, I fold. Villian shows A9.Blergh.

I’m now the short stack. Hand #8 and I pick up QQ. I’m under the gun after the blinds, and shove right away. One caller in the BB, shows JJ. The turn brings the jack. Tourney finished.

Played two hands.

Oh the beautiful game of poker, especially with me on tilt.

1. The aggressive type – he pushes in a lot in this spot, one-double-up away from the chip lead.

2. The cautious one, understanding that his tiournament life is at stake at this point.

The first type is the easiest to play, and the most dangerous one. After some time, you will stop putting this kind of player on a hand, resulting in mediocre calls because you’re sick of the the steals. Don’t fall for it! His steals are worthless with the blinds at these levels. Be patient. Don’t raise too much, see flops, wait for top pair/two pair, let him push into you. Your 2-to-1 chip lead will dwindle, but you’ll have a good chance of taking him out if you have the patience to wait.

An example of his not to play: You: 2105 chips – opponent 895 chips. Blinds are 5-10 chips. Opponent has pushed 8 times in the last 10 hands. You pick up A4os on the button, and your opponent shoves again. You call. He flips over 77.

You fell for it. A4os is not a calling hand for THAT many chips. You are looking for a reasonable two overs to a pair, or two higher live cards i.e. A9 vs K7. Don’t worry about him holding 74os and you folding A4. Be patient, picking your spot more carfully will allow you for a much better chance when you do decide to call him down.

How to play: lay down the A4os. Lay down the K8’s. Wait for A10  AK – AA  22.
Good luck!

Went out in fifth place taking home a good amount of cash, but still feel kinda stupid, as going out was……… with QQ. Was second shortstack, got called by A5os by the big stack on the BB — and he made the ace high flush (I had the Q flush too).

Oh well, can’t complain someone calling with A5os when you’ve got the queens, aye.

Fingers crossed — when Kings crack Aces, you’re ready to take down a tournament, right?

WAZZAAAAAA!!

Well, when that T hits the flop, you do have a pretty good shot at winning the hand — like this one….

No escape — flop was 4-8-10, so it’s not like my money wasn’t going in anyway. Eight on the turn pretty much ended it for me — but I had fun…

Finished in the money, buy-in+30%… Better than my stock is doing…

Firstly watch your opponents. Learn to look for those players who will fold at the first sign you might be holding a better hand. If these players call your bluff you may have to give up the ghost.

Limit your bluffs to when there is not much other action. Use your position on the button or small blind to steal the blinds. If it is check/folded round to you this is an opportunity not to miss.

Use your stack to bluff with. Push around smaller stacks by making big raises. Don’t go in with a bluff too often as it will be a little like the boy who cried wolf. At the table your reputation is everything and you want a reputation for playing solid hands to be able to get away with bluffing.

Don’t always make a full bluff. When you bluff sometimes it is wise to have at least a mediocre hand to back you up. Especially if it can turn into a monster. Remember from time to time those two high cards will be enough to take the pot.