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Full Tilt poker play chip value / marketplace

 
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brian-hansen
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Joined: 17 Mar 2006
Posts: 712
Location: Oregon

PostPosted: Sun Dec 14, 2008 6:37 pm    Post subject: Full Tilt poker play chip value / marketplace Reply with quote

I haven't investigated the value of Full Tilt poker "play" chips
until today.

I wasn't interested in buying play chips, for instance, since
that is how I keep score of how I'm doing at the tables. When
the number goes down, I put some extra attention in thinking
about what sort of strategy I've actually been playing. Sometimes
I learn something. When the number goes up, I don't learn quite
as much, but I get some reinforcement of the strategy I used, and
get a little boost the the good old self esteem.

[Interestingly, JABailo recently posted about "dampening",
and there is a connection to this situation: I presume that
"luck" serves to dampen the significance that I should assign
to particular wins and losses. When I win a tournament, its
pretty likely that I had some good luck. When I lose in early
rounds, bad luck was likewise probably a fairly big factor.
I view the actual results of tournament play, both win and
lose as skill being dampened by luck.]

I was also not very interested in selling play chips,
for some of the same reasons.

Still, I have been interested in acquiring "real money" chips
in Full Tilt, but for several reasons I have been unwilling to
actually "buy in" using a credit card.

Full tilt does offer a way to convert play chips to real money
chips, which I discovered today. Full Tilt allows a select few players
who are quick to act, skilled, lucky and who have a lot of extra
hours to earn real money chips: ending in the top 3 of 3600 players,
for instance, after 5 hours of play, can win the player a few
real chip dollars. These are "freerolls", so no chips are needed.

Today, I discovered that play chips can be turned into real chips,
but the way is not straightforward in the sense that a "marketplace"
is straightforward. Basically, skill and luck are still required.

There is a tournament in which 90 players wager 500,000 play
chips to divide a $40 real chip pot. This gives a value for the
"average" player of $0.89 real chips per 1,000,000 play chips.
It can be misleading to think of about 11,000 play chips to be
worth about $0.01 in real money chips, but still useful.

I suppose that there may be other marketplaces, because the
exchange rate seems patently ridiculous. It is not easy to
earn 500,000 play chips, even though anyone who runs out
of chips can get 1,000 chips for free several times per hour.

A good, above average player might spend 1,000 play hours
and still not earn half a million play chips, which would suggest
a conversion rate of roughly $0.001 per hour, or, perhaps,
$20 per year. Clearly this marketplace is not generally financially
viable. As an example, consider how unpopular this particular
tournament offering is.

At any particular time, 50,000 - 80,000 people are playing on
Full Tilt. Play chip tournaments fill quickly, sometimes before
"downstream" players even have the chance to enter. The
tournament that underlies this "marketplace" might take hours
before enough players sign up to fill the 90 slots.

Without looking, this suggests to me that there must exist fairer
markets for doing this conversion.
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jabailo



Joined: 20 Mar 2006
Posts: 1273
Location: Kent (East Hill), WA

PostPosted: Thu Dec 18, 2008 8:54 pm    Post subject: Reply with quote

This makes me think of the "Linden Dollars" from Second Life, which have some cash equivalent values and can be bought and sold for use in the game.

Also, in games such as WOW, people will rack up points and levels (I don't play WOW, so my word choice is poor) and can sell these to people who want to "start at the top".

In theory, I wonder if you could build a Full Tilt Poker account, rack up lots of play chips, and then sell the account login to someone else. There would be a danger of identity theft if someone had access to any information that couldn't be changed, but otherwise, you could advertise "Full Tilt Poker Account" loaded with chips -- $100.
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cynthila



Joined: 21 Jul 2009
Posts: 2

PostPosted: Wed Jul 22, 2009 10:13 pm    Post subject: Reply with quote

What are the different types of hands in Poker? I want to play poker but only know a few of the different hands in Poker. If you could just tell me all of them and which ones beat the others that would be cool. Thanks alot everyone. I need to know this so I can play Texas Hold em and other poker games.
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brian-hansen
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Joined: 17 Mar 2006
Posts: 712
Location: Oregon

PostPosted: Wed Jul 22, 2009 10:50 pm    Post subject: Reply with quote

I think you can find this many places, but it may as well be here as well...

Royal Flush (10-A all of same suit)
Straight Flush (5 cards in a row, all of same suit)
4 of a kind
Full House (3 of one card, and 2 of another)
Flush (all the same suit)
Straight (5 cards in a row, any suit)
3 of a kind
2 pairs
One pair
High Card (Aces are the highest)

------------------------


Does that do it for you?
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Researching your dissertation? Serious collector? Just looking for something neat?
You've found the right place to add to your existing collection, or to start a new one.
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