On The Lookout for Added Value

What is added value and who needs it? If you’re interested in gaining an edge in your online poker sessions, the answer is definitely you. If you’ve never heard of or thought about the concept of added value, this is a great opportunity for you. This is info you won’t find in normal poker site reviews. Read on.

Added Value

Added value refers to a situation where you are getting better odds than you are paying for. Let’s say someone is offering $25 to whoever can roll the highest number on a pair of dice. He is charging $6 for the opportunity. If five people sign up, each person is getting 25-for-6, or 19-to-6 odds, which is a little better than 3-to-1. Since your odds of winning are 4-to-1, this is not a great bet for you, but not a terrible one. However, if one of the four players drops out but the person running the bet leaves their money in the prize pool, you are suddenly 3-to-1 to win, which means the odds have shifted in your favor. That extra money abandoned by the last player is an example of added value.

How Added Value Applies in Online Poker

A similar situation can occur in a tournament with a guaranteed prize pool. If a tournament has a $200,000 guarantee and costs $200 to enter, they will need to get 1000 players to pay out all the prizes. If they get fewer than that, they are paying as if there are 1000 players but you only need to beat 900 or 950 or however many players they actually get. This is added value for you. You still may not cash, but your chances relative to what you can win have improved.

Practical Added Value

In the example above, the tournament will probably end up getting well more than 1000 players, which is fine for you, but not added value. If you’re really intent on finding added value, look for tournaments in games that are less popular, like five card draw, limit Omaha or Badugi. Also don’t set your sights too high. The higher the guarantee is, the more players will be swooping in to take advantage. Go for a smaller prize pool and you just may get that added value you’ve been looking for.