I'm going to be entering in a BJ tournament in the local casino for a 25 dollar entry fee.
It goes like this: You start with $500 each, Table limits are 5-200. 25 hands per "round". First round is 12 tables with 7 people each. Top 3 on each table move on to round 2. Round 2 had 6 tables with 6 each. Top ONE moves on to final round (and one wildcard to make 7 for the final table). Everyone at the final table gets some money, with 1,000 dollars to the top finisher.
Now I'm assuming that pretty much everyone is going to be playing basic strategy or not deviating too far from it, so I was wondering if there is any sort of strategy when it comes to these tournament deals where staying ahead of the next guy is more important then long term winning.
To give myself a bit of an edge, I was thinking of using a progressive betting strategy, where I would double my bet on each loss, hoping/assuming that I won't lose 4 or 5 in a row in a 25 hand game. Either I'd play agressively going 25-50-100-200 (4 loss cushion) or I could play a little more safe by going 10-25-50-100-200 (5 loss cushion). Now assuming I don't bust, and assuming I win roughly 48-49% via basic strategy, I would roughly make either $10 per win on 12 winning hands ($120) or 25 a hand on 12 winning hands ($300). I'd like to know if you think this is a smart way to go. I figure in an all-or-nothing tournament like this, doubling is a good way to go rather then just being at the whim of the odds.
On the first table the top three move on, so I can afford to be a little more conservative, but in the second round, only numero uno goes to the next table so I'm really trying to figure out a comprehensive strategy that includes knowing what to do if I have a lead before the last hand, but then everyone out of desperation makes a $200 max bet. If 6 people do this to try and get the #1 spot (and no reason they shouldn't) I'm put in a very delicate betting situation.
If anyone knows any websites with tips for tournament play, or have experience in this yourselvwes, give me a buzz
