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Full Tilt Cashout Tournaments

Was reading Bayne today and noticed his mention of the new Cashout Tournaments at Full Tilt.  This sparked my interest as I've pondered this idea in the past.  I've been known to try and conjure up random new poker games or tournament schemes, but never really kept at the cashout tournament long enough for it to make sense.  Glad to see FT saw it through.

Has anyone else played these tourneys and can offer their opinion?  I plan to give it a go soon, at the very least to try something new, but was hoping to get some thoughts on them from other players.  Here's a link to the specific details of the Cashout Tournaments on Full Tilt's website, but I've also listed them below for a quick view.

credit to Full Tilt for info below...


Cashout Tournaments

Full Tilt Poker’s Cashout Tournaments give players the option of cashing out some or all of their chips before the tournament has ended.
Cashout Tournaments follow the same rules as standard tournaments, except that each buy-in is split between a regular tournament prize pool and a Cashout pool. Players compete for a share of the tournament prize pool as they would in a standard tournament, but also have the option of cashing out some or all of their chips before the tournament has finished.

How Cashouts Work

When a player decides to cash out, the amount they choose is taken from the Cashout pool. Cashout value is based on starting stack size and the tournament buy-in amount.
For example, in a Cashout Tournament with a $20 + $2 buy-in, $10 goes to the tournament prize pool and $10 goes to the Cashout pool. If each player starts the tournament with 1,500 chips, then 1,500 chips are worth $10.

Partial Cashout

Players may make partial Cashouts in 10% increments of their original stack size. Using the tournament example above, partial Cashouts work like this:
Please note that players may perform partial Cashouts for any amount of their stack in 10% increments of their starting stack. When a player makes a partial Cashout, the chips cashed out are removed from play.
If a player chooses to make a partial Cashout while a hand is in progress, the Cashout will show as “Pending” until the hand is completed. Once the hand is finished, the Cashout will be completed unless the player’s chip stack has dropped below the amount requested. In this case, the Cashout will be cancelled.

Full Cashout

A full Cashout allows a player to leave a tournament before it has ended and take the full Cashout value of their chip stack. The value of the individual’s chip stack is determined the same way as a partial Cashout.
When a player makes a full Cashout during a tournament, they are eliminated in their current place in the tournament at the conclusion of the hand. For example, if a player who is in 21st place completes a full Cashout, they are eliminated from the tournament in 21st place and the Cashout value of their chip stack is credited to their account. If the player making a full Cashout has made it to a paid place in the tournament, the prize amount from the tournament prize pool is also credited to their account.
Please note that when a player makes a full Cashout, the total Cashout value is rounded down to the nearest cent. As with partial Cashouts, the chips cashed out are removed from play.

Cashing Out

Players may choose to make a Cashout at any point during a tournament’s Cashout period by clicking CASHOUT.

Table Screenshot
When the Tournament Cashout Options screen is displayed, the player may select Full Cashout or Partial Cashout, and enter the specific amount using the Cashout slider.
Tournament Options Screenshot
A player may choose to cancel the Cashout process at anytime before it is completed by clicking Cancel.
Players will be able to cash out until the tournament reaches the final table, at which time the Cashout period will end. When the period ends, all money left in the Cashout pool is divided between the remaining players based on the current Cashout value of their chip stacks.
The Cashout pool can be viewed in the tournament lobby. Please note that the total Cashout pool will decrease as players cash out.
Tournament Lobby Screenshot
To find Cashout Tournaments, look for the Cashout Icon icon in the main lobby.
Main Lobby Screenshot

posted by TripJax @ 8:20 PM,


At 2:47 AM, Blogger Sean G said...

I've played in the $5 DS cashout they run at 6:30 Pacific. It's a good tournament, but I haven't made the cash yet. I ran deep in another tournament on Friday tho, and kept an eye on the cashout lobby.

When they were down to about 40 players (of > 1000) more than 3/4 of the cashout prize pool was still in play.

When they got down to 18 players, the short stacks started cashing out. It went from 16 to 10 players in a flash, and the cashout prize pool dropped to about 60% of the original pool. Then it hit the final nine and they split the 60% propotionately.

I really like this affect, as it makes for a very top-heavy prize payout. If you have a huge stack and make it to the final table with 50% of the chips in play, you could get a cashout prize that exceeds the first place prize.

The play in them was pretty standard, and both times when I dropped out I outlasted about 75% of the field, and more than 85% of the cashout prize pool still remained, so it looks like it only starts coming into play during the in-the-money phase.

All in all, I think FTP did a good job with these, because any time people have a choice of making a bad decision (and I can't see when cashing out would be a good decision) then those of us who do make good decisions come out ahead.


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