Late registration: the maths of arriving late

Late registration is not a lifestyle choice, it is a maths problem. Entering with 30 big blinds into a field where the average is 40 is fine; entering with 15 into a field averaging 45 is buying a lottery ticket at full price. This piece gives you the calculation: starting stack divided by the current big blind, compared to the average stack you can estimate from entries and chips in play. Below roughly 20 big blinds, the edge you think you have stops mattering more than the variance you just bought.