For a blackjack tournament with an entry fee of $100 (and re-buys available) and final prize money as follows, what would be the Expected Value of a seat at the table for the semi-final round, or EV of the FINAL round?
1st $20,000
2nd $10,000
3rd $7,000
4th $5,000
5th $3,000
6th $2,000
7th $500
8th $500
9th $500
10th $500
11th $500
12th $500
Only the top 12 winners of all entries in the preliminary round (sessions run all day on the first day, ten hours every half hour, or up to 20 rebuys possible, in theory) go on to the semi-final, which is two tables of six players each (run on the 2nd day).
Then, only the top 3 winners of those two tables go on to the final table of six players, who will win the top 6 prizes.
So, how many times, at $100 a pop, should someone try to win a seat at the finals of this tournament based on Expected Value of the finals?
I'm guessing a seat at the semi-finals (12 players) would be worth about $3,000? So, maybe trying ten to 20 times would be reasonable?
Joe
