After looking at this issue more, I’m completely revising my earlier thoughts on this. Here is what I did to test a couple of things I’ve seen.
- I measured starting chips of .25; 1; 5; 25; or 100 and total BB of 100BB, 200BB, 300BB, 400BB, and 500BB. That gave me 25 different chip configurations. I considered multiple options in each configuration. Obviously different chip configurations might alter the results, but I tried really hard to stay consistent to my "rules" to try to measure by a single standard.
- I measured each configuration twice. The first with chip values of .25; 1; 5; 25; 100; 500; 1,000; 5,000; 25,000; and 100,000; and the second with chip values of .25; 1; 5; 25; 100; 500; 2,000; 10,000; 50,000; and 250,000.
I measured for a home tournament and a casino tournament with certain assumptions.
- I assumed there would be enough chips of the next highest value to completely color up the previous valued chips with one exception. The T500 only needs half as many with this assumption since half of them could be colored up to T1000.
- For casinos I assumed they would use 8-10 of the lowest value and perhaps the lowest reasonable number of the second lowest value. Though I didn’t measure it this way, I assumed BG is correct in his statement that a big factor is getting the lowest number of the lowest 2 chip values. I’d add it might not be the raw number itself, but the lowest percentage of chips in these two values.
- For home games I assumed the objective was to provide players enough chips, but not too many. That meant 10-12 starting chips for the lowest value with each larger chip having either the same or fewer. Again, the T500 was an exception because fewer are needed since the next chip up is only 2x its value. Because of the higher number of the lowest value chips, home games are likely to buy more chips to run a better tournament. The additional number of chips is significant.
- I only measured to chips two values above the highest starting chip. This created an exception to the T500 color up. If T500 was the chip two values above the highest starting chip, I did not reduce the number of T500s.
I had some theories based on several comments that I thought this test would prove.
- A T.25 would be the most efficient overall starting chip. It makes intuitive sense because it gives you the most upward room with natural progressions of 4x or 5x.
- A T2,000 would be more efficient than a T1,000 because of the 4x instead of seemingly inefficient 2x value. It also had higher value chips that would result in needing fewer overall chips.
I was so certain these two theories were right, I would have labeled both of them as no-brainers. I hope I never said that because I was wrong on both of those issues. I take heart that I’m in some great company on these two assumptions.
I’ll start with some conclusions, and then explain how I got there.
In order, what is the most efficient starting chip -- .25; 1; 5; 25; or 100?
Casino -- 5 -- .25 – 100 – 25 -- 1
Home – 100 – 1 – 5 – 25 -- .25
I was very surprised by the results of both! For the home game, the T25 and T.25 were at the bottom and T100 at the top. For Casinos, the T5 is the most efficient. The T25 is the only one that correlates – it’s fourth most efficient for both. Yet that is probably the most common starting chips for both casinos and home games. In both, the T100 is more efficient than the T1. It's not just adding zeroes -- the T100 is more efficient than the T1. That's very surprising considering the next two jumps are 5x and 2x in the T1000, and that's the most efficient an overwhelming majority of the time.
This is another good reason why home games probably shouldn’t be too anxious to follow casino models. Doing something because casinos do it certainly doesn’t work well here.
The two most efficient starting chips in a casino are unlikely to be used by the casino. Maybe I'm wrong on that -- does anyone know of casinos that start tournaments with either T5 or T.25?
I thought the most efficient chips would be the most efficient chips. That turns out to be wrong since casinos and home players apparently buy for different reasons, and that creates different results. I never even suspected that.
So why do so many casinos start at T25? Is it because it’s the most efficient for them with 100BB and the second most efficient at 200 BB? Many years the WSOP started with 200BB at T25. Maybe as BG says, it requires the least number of the lowest value chips. Perhaps they never truly planned for deep stack events. Or maybe they found that is what attracted the most players to the game, especially if the WSOP did it. Or [
insert your own theory here].
I had some theories based on several comments that I thought this test would prove, though I was wrong on those issues.
- A T.25 most efficient overall? For the home game the T.25 and T25 are the least efficient. So why do so many of us use the T25? I’m guessing most are like me – because that’s what the casinos do. Also, I seemed to be able to prove it, though I now realize with these comparisons there is no single best choice. The best choice varies with the number of starting BB.
- A T2000 more efficient than a T1000? Overall that is not correct. In the 25 home measurements, the T1000 is more efficient in twice as many scenarios as the T2000. In the 25 casino measurements, the T1,000 is more efficient in over three times as many scenarios as the T2,000. Take heart you T2000 fans (I’m not one of them, but primarily because I’m OK with tradition) – you win some of these. What I think gets overlooked is the effect of the 2x re-start resulting in needing fewer T500s, which sometimes by itself is the reason the T1000 generally makes more sense. But, if you like the T2000 better, you can certainly design your tournament as one where it is the most efficient way to do it. Proponents of both have good arguments, but the T1000 crowd has more of them.
- If you are running a home T500BB tournament and starting with T1, T5, or T25, the T2000 is for you! It’s even better for the T100BB starting with T25.
- If you are running a T300BB tournament, it’s T1000 all the way!
- See? There’s something for everyone!
I'm not sure how well the supporting information will post here.
Casino Chip Purchase
Tourney 0.25 1 5 25 100
T100 2560 3000 2,710 2548 2948
T200 2,820 2780 2,820 2,820 3500
T300 3080 3120 3022 3175 2812
T400 2940 3760 2946 3100 3016
T500 3200 3690 3210 3425 2650
T1000 -- 17 wins; T2000 -- 5 wins; 4 neutral
Home Game Chip Purchase
Tourney 0.25 1 5 25 100
T100 3,960 3,040 3,400 3,610 3,000
T200 4,220 3,280 3,720 3,900 3,500
T300 4,220 3,520 3,872 4,525 3,512
T400 4,340 4,160 3,848 4,648 3,516
T500 4,600 3,820 4,110 4,760 3,520
T1000 -- 14 wins; T2000 -- 7 wins; 4 neutral
Unfortunately, I don't now how to post the comparison between all 25 configurations where it makes any sense at all. The spreadsheet I used, and will gladly send for anyone who really wants to look at it, shows the configurations in order of efficiency for both home games and casinos. Each is coded, for example, the T100 100 means it starts with 100BB and the lowest chip value is T100.
Home
1 T100 100
2 T100 1
3 T200 1
4 T100 5
5 T200 100
6 T300 100
7 T400 100
8 T300 1
9 T500 100
10 T100 25
11 T200 5
12 T500 1
13 T400 5
14 T300 5
15 T200 25
16 T100 .25
17 T500 5
18 T400 1
19 T200 .25
20 T300 .25
21 T400 .25
22 T300 25
23 T500 .25
24 T400 25
25 T500 25
Casino
1 T100 25
2 T100 .25
3 T500 100
4 T100 5
5 T200 1
6 T300 100
7 T200 .25
8 T200 25
9 T200 5
10 T400 .25
11 T400 5
12 T100 100
13 T100 1
14 T400 100
15 T300 5
16 T300 .25
17 T400 25
18 T300 1
19 T300 25
20 T500 .25
21 T500 5
22 T500 25
23 T200 100
24 T500 1
25 T400 1
Count me as surprised. I'm not sure how this will affect my next tournament chip purchase. I'm guessing that liking the traditional chip colors, I'll use T25 again because I tend to like green.