i am wondering what the formulae means by (1+log(buyin) i understand the rest of the formulae its just the end, what is this final piece? please can somenoe let me know thankyou
So our algorithm not only calculates the points based on your finishing position and the number of entrants, but it also takes into account how much was the buy-in for the tournament. The logic being you should earn more points if you and the rest of the entrants have risked more chips to play.
Hence this last bit of the algorithm achieves that for us. So the easy bit first, ‘buyin’ is obviously the amount you buy-in for the tournament at. The reason we use log function() and add this to 1, is to flatten out what effect the buyin has. If we simply multiplied the buy-in then you’d get lots more points just from a slightly bigger buy-in. With using this formula we’re flattening the effect of it so that it has a nicely balanced effect, not too much and not too little.
If you’re interested in understanding more about logarithms then there’s a nice video presentation here about them: https://www.khanacademy.org/math/algebra/logarithms-tutorial/logarithm_basics/v/logarithms
i understand thanks