FPPs: Trying Something New

*June 16th, UPDATE at bottom of post*

I just cashed in my 100k vpp milestone bonus and I've decided to try turning my FPPs into cash in the Sunday 1/4 million 280 turbo sats for $11 a shot.

I've always cashed in 100k FPPs for $1500. I really couldn't bother to wait the extra 2 months to get the best deal of 250k for $4000 even though I know it's illogical to care about when I get the money when it's going to be more. I hate clearing huge bonuses.

So instead of my $0.015/FPP, I did the math on the 280 turbos:

Out of 100 turbo sats and 28k FPPs, if I can cash in 40%, that's already $440 in instant cash as opposed to $420 worth of bonus. Add in 10% 3rd place retries and I get back 2800 FPPs. Cash in 40% of those and that's another $44 for a total of $484.

That comes out to $0.0173/FPP which is better than Supernova rate with no clearing required. And the way these play out I wouldn't be surprised if 55% ITM is possible despite the variance due to structure. These are generally 5nl cash and nanostake tournament players trying to get something besides a Chris Moneymaker poster for their FPPs. Somewhere around $665 per 100 sats and $0.023/FPP is sustainable imo.

At 1000 hands an hour at Supernova multiplier it comes out to 3 to 4 sats worth of FPPs per hour at 50nl and 100nl. Considering they finish in 5 minutes on average and fill up fast, it doesn't really take away from opportunity cost unless you're mass tabling 400nl+ and would need to play something like 6-8 of these for every hour of cash play.

I'll obviously try this out until I run significantly behind my regular bonus rate. So far so good with ITM of 50% and 3 retries out of 20 sats.

^ Cue donkament doomswitch.

* UPDATE*

I've played nearly 100 of these now with some reasonable results. I've cashed in 44% of them which is a little lower than I expected and I've won 3rd place retries in 15%. Quite a bit of sickening villain ability to hit kickers while dominated going on in the last 30 tries. If I remove the 3rd place finishes and discount the FPPs back making it a 2/5 pays satellite, I'm showing an ITM of 50% and an FPP rate of $0.0192/FPP. That's pretty decent considering Supernova is $0.0160, plus this is instant cash.

I'm going to run these up until I hit 186k VPP for the year at which point I'll have to save the next 14k so I have 50k FPP to buy the next milestone.