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Lately there's been a significant growth in the number of tournaments that stay open for late registration.

It's a good thing in that it allows a far greater number of entrants, and you don't have to miss your favourite tournament because you're still playing the final table of one you started ages ago.

Now, with a tournament that has 2 hours of late registration, and standard 12-15 minute blinds, is it best to join at the start, when you'll have 150 BBs, or near the end of late reg, when you'll have around 30 BBs?

I know it sounds simple and you should just start with loads of BBs, but at the start you'll be battling far more players, giving you both a greater chance of building a large stack but a somewhat equal chance of going out early.

When you join 5 minutes before the end of late registration you usually have roughly half the average stack, but with that comes up to half the number of total entrants still running, so half the number of opponents as well as a more clear view of the table dynamics due to stack sizes etc.

What should I factor in, and if possible, how could I calculate my expected value for entering at various different stages of late registration?

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3 Answers 3

up vote 3 down vote accepted

You should enter the tournament as early as possible. Presumably, you're participating in the tournament because you have some sort of edge against the field. In other words, you should be playing the tournament because it is profitable for you to do so.

Playing the earlier stages of the tournament lets you play more hands against your opponents, which (particularly in the long run) reduces variance (see the law of large numbers).

Playing the earlier stages of the tournament also lets you play against the weakest players who are likely to make massive mistakes early on that get them eliminated quickly. Being able to capitalize on these mistakes and get a large stack early is a huge opportunity that you shouldn't pass up.

Finally, the earlier stages of the tournament have deeper stacks. Instead of getting into lots of marginal spots where you're coin-flipping preflop you'll have more room to navigate postflop. Your skill over your opponents is more easily realized with deeper stacks.

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I like your reasoning, I'm inclined to accept :) –  Mr E. Upvoter Oct 18 '13 at 17:07
    
+1 couldn't have said it better myself –  Radu Murzea Oct 18 '13 at 20:09

I guess the best answer to this is that you should join whenever you will have a stack that you are comfortable playing with.

If you are comfortable playing with a short stack then join right at the end of the late reg. (This what i do quite often). As long as you have over 10bb then you have a little bit of play before you have to be in Shove Fold mode.

If you are not good as a short stack then, either join straight away, or wait 30 mins or so!

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I find anything less than 15 BBs a shove/fold type stack. I won't just shove only, I'll commit my stack to a pot I choose to play (raise 30 - 60% of my stack preflop) making it clear to the other players that I'm not afraid to stack off with my hand, and discouraging bluffers. Personally I don't enjoy being at risk of going out as soon as I join though, but it really depends on the speed of the blinds and my buy-in. For micro buy-ins I'd probably wait, whereas for buy-ins that are a little higher, I want more value for my money and time to play. The higher the stakes, the harder the opponents. –  Mr E. Upvoter Sep 14 '13 at 20:54

As you said, it is easy. You want to start with the maximum BB's. Play tight in beginning to increase your stack. If you join as shortstack with around 30 bb's you can be an easy victim by someone who pushes you all in without any problems. That will not happen in the beginning phase, because everyone has the same amount of bb's.. as you said, easy. :))

now the factor:

if the entry for your tournament is LOW , the gambling increases, because many people don't care enough. For example 1 $ sit 'n' go. You can join the table, go afk and thake a bath. after 1,5 hours you will still have 50% of your stack and YOU SOMETIMES ARE ALREADY IN THE MONEY haha. That really works, so for low money tournaments starting late can be good. The bigger the prize the earlier you should go in, maybe you miss some good hands?

Disadvantage, if you start early you will probably stay in longer in tournament and your concentration will suffer from time. That's my opionen of course, some other might see it from another point of view...

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