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Well, theoretically, shouldn't your expected ROI go up in relationship to the number of players decreasing? Again, Im talking theory here, someone help me out, but that seems to be the case.
Your In-the-money percentage should definitely go up, but that doesn't necessarily translate into ROI. You may just eke out a profit heads up, but if you are good at MTTs and can take down a couple per year, you make get much better returns.In a world of perfect information flow (which doesn't exist), it would even out across all games eventually, because the better players will be attracted to higher returns for the same risk.
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