Iron Man Bonus follow-up

This weekend, with the help of my co-conspirator omgitsjoshua, we conducted a little experiment to try to convert Iron Man medals into real coin. It was an absolute success. I googled the optimal strategy of converting Iron Man medals and came up with the following:

After further research, it appears that the $75 tokens are the way to go with the Iron Man medals. If you can find someone with a $75 token as well, you can set up a private HU game and either chop or transfer after the game is over. The rake will be $6 / person, so you're essentially getting $69 ($69 + $6 tourney from a $75 token) in return, but the cost is 400 medals: $0.1725 / medal. This is in opposition to the $600 bonus, costing 3000 medals, which after rakeback "paid back" & re-earned, amounts to a real total bonus of $438: $0.146 / medal (remember that the $600 bonus money costs earnings in rakeback). As an added bonus, the $75 token route includes no additional "work"; i.e. you don't need to earn your bonus like you would if you chose the $600 bonus.

Omgitsjoshua & I decided to play out the actual tournament, and split the winnings afterward, for bragging rights. Omgitsjoshua set up a 3000 chip, deep stacked match. The match included a lot of trash talking by both parties, and after about 100 hands, it was settled. I am 1-0 in our Iron Man Medal token series. I suspect I did get better cards, though. I hit a set once (33) and was dealt QQ, AK & 55. It will be 2 months to recoup the medals and play again.

To set up a private tournament, simply send an e-mail to privatetournaments@fulltiltpoker.com with all of the following information regarding the tournament you want set up:

Tournament Name:

Tournament Date:

Tournament Time:

Game to be Played:

Buy-In and Entry Fee:

Password:

Expected Turnout:

That's everything, but here are a few other things to be sure to watch for:

The tournament's name can not exceed 25 characters.

The time you choose is clear (If you want a tournament at 4 PM, don't just write 4:00, write 16:00 SERVER TIME). All unlabeled time zones are interpreted as SERVER TIME, which is US ET.

The entry fee must be at least 10% of the buy-in.

The password must be all lower case letters without spaces.

If you want a tournament with something other than a nine player minimum, make that clear in your e-mail.