I did some quick and very basic calculations (which I'll add to the bottom of the post if anyone is interested) and found out that with +1/5X the buy-in in fees you need to get ITM of 40% of the tournaments in order to break even.
This is true only assuming that you get first, second and third place the same amount of times, but since probably you will get more seconds and thirds then firsts (correct me if I'm wrong) you actually need to get ITM in
more then 40% of the tournaments in order to only break even.
Is this a feasible requirement from someone just starting off with his 50$ capital? Isn't that a lot?
for those interested here are the very basics calculation I did:
code: | bi = tournament buy-in not including fee
fee is according to FTP, 1/5 of the tournament bi
remember we assume you get the same number of first place, second place and third place.
on avarage when you are ITM you will get:
(2*9bi/10 + 3*9bi/10 + 5*9bi/10)/3 = 3bi
in order to break even these 3bi need to exactly cover the number of tournaments you didn't win (+ the one in which you got the money):
3bi / 1.2bi = 2.5
This means that you have to be ITM of 1 in 2.5 tournaments, or 40 in 100, therefore being in the money of 40% of tournaments will allow you to break even.
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Did i do any stupid mistake in the calculation here? (I will use: "yeah that was stupid, well it's very late here and I'm tired" as an excuse :p)