Bumping this thread, as we are about to host our first bounty tournament on June 20th.
Our buy-in is
much smaller than the OP's ($30) but everything is scalable. I also recognize that there are dozens of ways to handle a Mystery Bounty event, and I believe this to be the best way. Below I will add colored text when I thought of a different way to handle Mystery Bounties, and why I decided to go they way I plan.
My method involves some extra "work" on the front end. Poker is my hobby, and hobby work = fun, so really, my method involves some extra "fun" on the front end. I also enjoy Excel. I don't know why, I just do. A lot of how I'm handling this comes down to Excel.
First I decided to allocate roughly 1/3 the initial entry fee as bounties. I rounded the bounty pool up to the nearest $25 increment. Right now (10 days before the event) we have 13 players with 2 maybes. All remaining money goes to the prize pool (1st - 4th places).
Why round up to $25 increments instead of a static $10 per player? Because I just learned the CIELING function in Excel. It also makes things a little more predictable, as there are occasions (though rare) that a player remains a "maybe" on game day. It's usually related to a kids sporting event, so even if I don't like it, I accept it and make plans accordingly. I understand that kids come first.
Rebuys add to the prize pool, but do not alter the bounty pool.
I could take $10 from the rebuys too, but the prize pool for 4 players and a $30 is tiny. Before rebuys, (taking the obligatory $20 out for the end of the year bonus) it pays 1st $90, 2nd $60, 3rd $40 and 4th $30 on a projected 40%/30%/20%/10% prize pool before rounding. With an expected 4 rebuys, that prize pool goes up to $140/$100/$70/$30 - a much more respectable prize pool for a $30 entry.
I will also add to this, that when it comes to knockouts, @Mrs Poker Zombie and I have a combined average 0.98 knockouts per time we buy-in or rebuy. A bounty tournament is mathematically -EV for us, while players like @Jonesey07 (with 1.72 KO/buy-in ratio) would probably argue for more money in the bounty pool. As host, you build the rules, so I'm leaning toward a smaller bounty pool - and hosting the Mystery Bounty game when Jonesey is out of town.
Instead of money in envelopes, our prizes will be chips drawn out of a sack.
- Because MOAR CHIPS.
- Someone gifted me a set of sluggos with 1s, 5s, 10s, 25s, and 50s. I'm not going to be rude, I'm going to figure out a way to put them in play. Thus, the Zombie Mystery Bounties game was born.
Our games run from 7pm to about 11:45ish, with a break every hour for color ups, drink refills, snacking away from the table, etc. At 2nd break rebuys end, and we race off the smallest denom. We also put away food that should be refrigerated (we serve dinner from 5:30-6:45). That makes 2nd break pretty busy as hosts, so bounties will go live at 3rd break. Historically (and because I keep stats), going back 10 years an average of 57.2% of players remain at 3rd break. That number goes up to 65.6% if you only take the last 5 years, and that's probably because my players have gotten better (learning to fold in the face of obviously better). Eliminations before 3rd break drive up the future value of bounties.
At 3rd break I consult this chart:
| 13-15 players | | | | | | | | | | | | | | | |
| 2 | 150 | 150 | | | | | | | | | | | | | |
| 3 | 152 | 51 | 51 | 25 | 25 | | | | | | | | | | |
| 4 | 151 | 51 | 50 | 25 | 25 | | | | | | | | | | |
| 5 | 150 | 50 | 50 | 25 | 25 | | | | | | | | | | |
| 6 | 151 | 51 | 50 | 25 | 10 | 10 | 5 | | | | | | | | |
| 7 | 151 | 51 | 50 | 25 | 10 | 5 | 5 | 5 | | | | | | | |
| 8 | 151 | 51 | 25 | 25 | 10 | 10 | 10 | 10 | 10 | | | | | | |
| 9 | 151 | 51 | 25 | 25 | 10 | 10 | 10 | 10 | 5 | 5 | | | | | |
| 10 | 151 | 51 | 25 | 25 | 10 | 10 | 10 | 5 | 5 | 5 | 5 | | | | |
| 11 | 151 | 51 | 25 | 10 | 10 | 10 | 10 | 10 | 10 | 5 | 5 | 5 | | | |
| 12 | 151 | 51 | 25 | 10 | 10 | 10 | 10 | 10 | 5 | 5 | 5 | 5 | 5 | | |
| 13 | 151 | 51 | 25 | 10 | 10 | 10 | 10 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | |
| 14 | 150 | 50 | 25 | 10 | 10 | 10 | 10 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | |
| 15 | 150 | 50 | 25 | 10 | 10 | 10 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
The number on the right is the number of players remaining at 3rd break. The rest of the numbers are the individual chips added to the sack, with "51" being a $1 chip worth $50 plus a second draw. Thus, with 14 players we should see 9 players remaining. We add a 1x"51", 2x$25s, 4x$10s, and 2x $5s. The player that draws the 51 gets $50 plus a redraw for a total "Big Prize" between $55-$75 (EV $62.50).
However, that anticipates knockouts per a regular no-bounty night. I can absolutely see big stacks playing more aggressively, driving up the value for the Mystery Bounties. At least that is my hope. I'd love to see someone sweat a draw that could be worth $100.
...and don't worry about how difficult it is to read that chart, as Excel is also how my pay table is displayed. Once I enter the number of players remaining at 3rd break, the payout screen looks like this:
View attachment 1689837
This allows players to both determine the EV of their draw and allows me, at a glance, to determine what chips need to be added to the sack.
Open to thoughts, comments, and concerns.