Just about every aspect of bricks and mortar poker has been captured in online poker review. One aspect of tournament live poker that has been missing from online poker is the ability to make deals towards the end of a tournament. Think about it! How comfortable would you be making a deal with a player named Joe Blow from Idaho? Party Poker have solved this problem by introducing an automated deal making program.
Now you have two choices for deal payouts, based on either the current chip count or a custom set of pay outs. You can make a deal for all the money and end the tournament, or you can leave a portion of the prize pool to play for. No deal is completed until all of the players confirm the deal. Selecting 'Yes' on the final table commits you to discussing a deal, but not necessarily making one. Deal making is available for most real money multi-table tournaments with a cash-only prize pool.
Is deal making a good idea?
A good question to ask is – is deal making a good idea? The answer to this question is yes! Since most of the payouts are skewed towards the top place getters, making a deal can smooth the fluctuations and can be beneficial for all concerned.
Naturally, you should aim to get fair value for any deal you strike. You can also try to get better than fair value, it doesn't hurt to try. In many circumstances getting under the fair value is also desirable. This is particularly the case if you are significantly worse than the remaining players or the tournament is highly skewed towards the top place getters. It is the classic risk return trade off. You are willing to give up a bit to get a guaranteed amount to smooth your fluctuations.
Let me finish by saying this. If possible, stick with the Party Poker default payout offer which is based on chip counts. Calculating a deal is a very difficult thing, whereby you have to take into account the probability of finishing in each position multiplied by the payout to obtain the expected "fair value" for the deal. Obviously, this is very difficult to do so you might as well stick to the Party Poker formula.