I like the FTP Steps Tournaments. I like to play Super Turbos, which are incredibly high variance. But the steps tournaments generally pay something to at least 2/3 of the field. So I bought into a total of 8 of the Step 2 tournaments ($8.30 + $0.40) over the course of today, and turned one of those buy-ins into a Step 6 ticket, which I've used to buy in to the FTOPS main event
Another one currently is a Step 5 ticket ($216).
Anyway, generally, the top two finishers advance to the next step, 3rd and 4th place tread water, 5th and 6th move down one level, and depending on the step 7th or 8th either get a boobie prize, or go down two levels or something like that. At the bottom 2 levels, the payouts start at 6th, but higher up, all you have to do is not come in dead last.
There is a 7th step. It is a $2100 buy-in tournament. 7-9 get nothing, 4-6 move down a notch, 2-3 tread water and 1st place gets a $18,000 WSOP tournament buy-in package.
UPDATE! I finished in 223rd place out of 4534, for a payout of $1500.