Poker stats are a great tool for analyzing how you're doing in your poker games. One figure that you can find in the various software tools for poker stats is the ITM percentage - that is, how often you finish tournaments in the money.
So how do you evaluate this? What's a good ITM percentage in six-player sit and gos?
ITM percentage to break even
To start with, just to break even you need to come in the money 37% of the time, or 11 times in 30 trials.
This holds for the 6 handed $10 S&G on Full Tilt Poker. If we assume that you make first place as often as second (more on this below).
In those tournaments, first place is worth $39, second place $21. Buy in is $10 and the rake is $1. So you have the following outcomes:
1. +28
2. +10
3. -11
4. -11
5. -11
6. -11
If we call your ITM percentage p, we have the following requirement for breakeven:
(p/2)*28 + (p/2)*10 - (1-p)*11 = 0
p = 11/30 = 37%
Higher ITM needed if you cannot win
If you for some reason place second more often than first, you need a higher ITM percentage to break even. Say that your stats show twice as many second places than wins. Then you need and ITM percentage of 41% just to break even:
(p/3)*28 + (2p/3)*10 - (1-p)*11 = 0
p = 11/27 = 41%
Beyond this, you're a winning player, and that's a really good start. If you increase your ITM percentage you win more, and that's even better.
/Charlie River
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