The Math of Double Masters 2022

Welcome, let’s get down to the numbers of Double Masters 2022. We’ve got only 24 Draft Boosters per box and a mere 4 Collector Boosters per box, effectively upping the price for each pack.

We are also getting double the rares and mythics, along with some incredibly expensive reprints. Quite the assortment of value here, and with the numbers doubled, we’ve got some really amazing things and some real bulk mixed together.

So let’s dive in and see how rare these cards are, especially compared to rarities of sets past, as try to figure out what’s worth it and what isn’t.

The basics: 120 rares and 40 mythics means twice the odds in Draft Boosters (more on that in a minute) but the last two slots in a Collector Booster are split unevenly. 

We know which rares and mythics have a Borderless version and a Textured version. All rares and mythics have a foil-etched version. This list is going to be updated as previews get finished off.

Borderless Rare (30)Borderless Mythic (20)Textured Foil Borderless Mythic (5)
Aether Vial
Anger of the Gods
Assassin’s Trophy
Bloodforged Battle-Axe
Bloom Tender
Chaos Warp
City of Brass
Damnation
Forbidden Orchard
Force of Negation
Gifts Ungiven
Glimpse the Unthinkable
Grand Arbiter Augustin IV
Grim Flayer
Hardened Scales
Kolaghan’s Command
Marchesa, the Black Rose
Oracle of Mul Daya
Panharmonicon
Phyrexian Altar
Pithing Needle
Sensei’s Divining Top
Smothering Tithe
Supreme Verdict
Surgical Extraction
Teferi’s Protection
The Mimeoplasm
Thousand-Year Storm
Vedalken Orrery
Allosaurus Shepherd
Cavern of Souls
Concordant Crossroads
Consecrated Sphinx
Crucible of Worlds
Dockside Extortionist
Dragonlord Dromoka
Elenda, the Dusk Rose
Emrakul, the Aeons Torn
Imperial Seal
Kozilek, Butcher of Truth
Mana Drain
Mana Vault
Muldrotha, the Gravetide
Seasoned Pyromancer
Sedris, the Traitor King
Ulamog, the Infinite Gyre
Emrakul, the Aeons Torn
Kozilek, Butcher of Truth
Liliana, the Last Hope
Ulamog, the Infinite Gyre
Wrenn and Six

Let’s deal with the Borderless slot first. With 30 rares and 20 mythics, this is almost very straightforward in this slot of the Collector Booster. The rares are in the pool twice, then add the mythics. As a result, to get a specific Borderless rare, you’ve got a 1/40 chance. 

For the mythics, it’s a touch more complicated. The fifteen mythics that do NOT have a Textured version are a straight 1/80 to show up in that slot, but for the five that do, you need to flip a coin and see whether you get a Textured or not. 

To put in more specific terms, I’m 1/80 to get a Borderless Wrenn and Six of any type, but I’m 1/160 to get either a Textured foil or a Borderless.

The foil-etched slot has a lot more options. The set has 120 rares and 40 mythics, and that means the potential pulls are from 280 cards. Any foil-etched rare is 1/140 and any mythic is 1/280.

Have a table, to help summarize these things.

Because Wizards has a slot for the etched, and a slot for the Borderless, we’ve got an interesting situation. The rarest special versions this set will not be borderless, or even the textured foils. It’ll be the foil-etched mythics that do not have a borderless version.

Have another table:

Rares in foil-etched WITHOUT a Borderless version (1/140 packs)Mythics in foil-etched WITHOUT a Borderless Version (1/280 packs)
Abbot of Keral Keep
Abzan Ascendancy
Alesha, Who Smiles at Death
Anguished Unmaking
Arjun, the Shifting Flame
Ashenmoor Liege
Ashen Rider
Atarka’s Command
Atla Palani, Nest Tender
Backdraft Hellkite
Balefire Liege
Bedlam Reveler
Boartusk Liege
Bring to Light
Child of Alara
Conqueror’s Flail
Creakwood Liege
Dack’s Duplicate
Darksteel Plate
Dauntless Escort
Deathbringer Liege
Disciple of the Ring
Doran, the Siege Tower
Drogskol Reaver
Dromoka’s Command
Elsha of the Infinite
Empyrial Archangel
Fiery Justice
Figure of Destiny
Firesong and Sunspeaker
Glen Elendra Liege
Gravecrawler
Greater Gargadon
Green Sun’s Zenith
Guided Passage
Hostage Taker
Hydroid Krasis
Impervious Greatwurm
Intet, the Dreamer
Jeskai Ascendancy
Jodah, Archmage Eternal
Judith, the Scourge Diva
Kaervek the Merciless
Kambal, Consul of Allocation
Kederekt Leviathan
Lavalanche
Legion’s Initiative
Leonin Arbiter
Magister Sphinx
Master Biomancer
Mathas, Fiend Seeker
Mikaeus, the Lunarch
Mindwrack Liege
Murkfiend Liege
Necrotic Ooze
Nim Deathmantle
Ob Nixilis, Unshackled
Oona’s Prowler
Phyrexian Tyranny
Pillar of the Paruns
Planar Bridge
Prized Amalgam
Pull from Tomorrow
Rafiq of the Many
Restoration Angel
Reveillark
Rishkar, Peema Renegade
Roon of the Hidden Realm
Ruric Thar, the Unbowed
Shattergang Brothers
Sidisi, Brood Tyrant
Skullbriar, the Walking Grave
Splinterfright
Talrand, Sky Summoner
Tariel, Reckoner of Souls
Teneb, the Harvester
Thistledown Liege
Thraximundar
Thrumming Stone
Twinflame
Ulasht, the Hate Seed
Varina, Lich Queen
Venser, Shaper Savant
Villainous Wealth
Wasitora, Nekoru Queen
Weathered Wayfarer
Wilt-Leaf Liege
Yahenni, Undying Partisan
Zur the Enchanter
Aminatou, the Fateshifter
Animar, Soul of Elements
As Foretold
Aurelia, the Warleader
Bitterblossom
Divine Visitation
Dragonlord Silumgar
Emiel the Blessed
Ezuri, Claw of Progress
Food Chain
Ghave, Guru of Spores
Hellkite Overlord
Kaalia of the Vast
Karador, Ghost Chieftain
Lord of Extinction
Master of Cruelties
Mizzix of the Izmagnus
Monastery Mentor
Nicol Bolas, God-Pharaoh
Uril, the Miststalker
Warrior’s Oath

As is the tradition, let’s have a comparison of cards at different rarities and finishes, to give another perspective:

CardRarityFrameApprox. # of packs to open oneValue of packs opened ($70/pack)
Teferi’s ProtectionRareBorderless40$2,800
Imperial SealMythicBorderless80$5,600
Wrenn and SixMythicTextured160$11,200
Green Sun’s ZenithRareFoil-Etched140$9,800
Food ChainMythicFoil-Etched280$19,600

And to finish off talk of Collector Boosters, let’s review where these packs and these cards rate as compared to sets from the last couple of years. Do note that these tables do NOT account for the different prices of packs, a problem which I will rectify soon.

Set NameOdds of a specific foil treatment rareOdds of a specific foil treatment mythic
Double Masters 20221/40 to 1/1401/80 to 1/280
CL: Battle for Baldur’s Gate1/881/176 to 1/352
Streets of New Capenna1/82 to 1/1641/164 to 1/492
Kamigawa: Neon Dynasty1/1361/272 up to 1/544
Innistrad: Crimson Vow1/741/171
Innistrad: Midnight Hunt1/75.51/151
Forgotten Realms1/631/126
Strixhaven1/154.51/309
Kaldheim1/641/128
Modern Horizons 21/126.51/253
Commander Legends EA Foils1/2041/400

Now the cards: 

Card/TreatmentSetOdds of pulling it from a Collector Booster (approx.)
Extended Art Foil Jeweled LotusCommander Legends1/400
Phyrexian Foil VorinclexKaldheim1/256
Japanese-Language Alternate Art Time Warp FoilStrixhaven (Mystical Archive)1/309
Foil Extended Art The Meathook MassacreInnistrad: Midnight Hunt1/151
Foil Fang Frame Sorin, the Mirthless by Ayami KojimaInnistrad: Crimson Vow1/171
Phyrexian foil (or foil-etched) Jin-GitaxiasKamigawa: Neon Dynasty1/544
Blue Soft Glow HidetsuguKamigawa: Neon Dynasty1/219
Green Soft Glow HidetsuguKamigawa: Neon Dynasty1/444
Red Soft Glow HidetsuguKamigawa: Neon Dynasty1/1828
Phyrexian Foil Urabrask, Heretic PraetorStreets of New Capenna1/492
Borderless Foil Ancient Brass DragonCommander Legends: Battle for Baldur’s Gate1/352
Foil Etched Food ChainDouble Masters 20221/280
Textured Borderless Foil Emrakul, the Aeons TornDouble Masters 20221/160

The way that Wizards changed the number of packs in a box, and therefore the cost per pack, outweighs the progress they made when increasing the drop rate for these cards. It’s also worth noting that a lot of Double Masters 2022 will end up at very low prices because of low demand for a lot of these cards. These slots will be very swingy indeed!

Draft Boosters are also relatively straightforward. There are no foil-etched cards, and there are no textured foils. Just foil Borderless and regular frame foil.

There’s two slots dedicated to rares or mythics. Same deal as the foil-etched slot applies, twice the rares means that any rare is 2/280 or 1/140, and any mythic is 1/280. Those are nonfoils, though, and represent how we’re going to get prices on regular copies so very low.

Trickier is that Borderless foils can show up in the third and fourth slots, along with foils in the regular frame. We’re explicitly told that your chances of a borderless foil rare or mythic in those slots is 1.25%, which comes out to 1/80 per slot for a borderless foil of either rarity. Since rares are twice as common as mythics, there’s a 1/240 chance of any borderless foil mythic in that slot and 1/120 for any borderless rare. Then we have to multiply by the number of cards (30 for rares, 20 for mythics) to get the chances of a specific foil borderless card. 

One more step. I’ve calculated all of these on a per-slot basis, so then this table has those odds x2, due to the pair of potential slots.

Any Traditional Foil Rare, regular frameAny Traditional Foil Mythic Rare, regular frameAny Borderless Foil RareAny Borderless Foil Mythic Rare
1 in 4.25 packs1 in 8.5 packs1 in 60 packs1 in 120 packs
Specific Borderless Foil Rare1 in 1800 packs
Specific Borderless Foil Mythic Rare1 in 2400 packs

I’m happy to talk about the math and my methods in the comments here, on Twitter, but especially in the ProTrader Discord. Please feel free to stop by and discuss your experiences and your pulls!

Cliff (@WordOfCommander) has been writing for MTGPrice since 2013, and is an eager Commander player, Draft enthusiast, and Cube fanatic. A high school science teacher by day, he’s also the official substitute teacher of the MTG Fast Finance podcast. If you’re ever at a GP and you see a giant flashing ‘CUBE DRAFT’ sign, go over, say hi, and be ready to draft.

Unlocked Pro Trader: The Shifting Landscape

Readers!

I titled this article “The Shifting Landscape” because the landscape is shifting. I will not be taking further questions at this time.

Baldur’s Gate still hasn’t settled and some of the top commanders in the set are shaking out a bit differently. Let’s take a look at the leaderboard this week.

Captain value has absolutely rocketed up the charts and it’s worth taking a look at, but you’re going to be disappointed. A growing trend has started to emerge lately, and I attribute it in part to how little time we have to brew and tune decks before we’re encouraged to ditch them and move on to the next thing. I’m convinced every Captain N’ghathrod deck is just the precon sprinkled with 25% of an Umbris deck that didn’t get finished since a set came out every few weeks since then and there never seemed to be time to finish. What makes me think people are using largely unmodified precons?

Every single High Synergy card,

and every top card are in the precon. 28/28 on the key cards in the deck being shipped with it. The precons are getting more and more tuned and less and less broad, and the more tuned they get, the more they’re forced to reprint very specific cards that will never leave the deck and the less people are adding singles from other sets. It’s not every deck that’s like that, certainly, but the small window between sets is clearly having an impact on builders and it’s being reflected in the data no matter whether it’s a measure of cards appearing a lot in this one deck and nowhere else or a measure of cards just showing up in this deck a ton. Yeah, I’m not surprised people are playing Thought Vessel and Lightning Greaves, but every single card here is in the precon.

Accordingly, we have to scroll down pretty far to find anything, bad news when we’ve proved in this column that the deck’s ranking in the set and top commanders of the week list can predict whether the deck has the velocity to launch all but the lowest-stock of specs. I think there is a non-trivial amount here, and I’ll find it, but I’m not thrilled about it.

You can say that Card Kingdom prices aren’t real, but this card is sold out on Card Kingdom at $5 a copy and CSI still has some for $2.50.

Is this card bad? Is the price real? Is CK a reliable metric? I will answer any and all questions by silently pointing to the part of your computer screen where I showed with data that you could arbitrage this card to CK’s buylist by paying retail at Coolstuff if you were so inclined. If you do, please use EDHREC’s clipboard feature to upload your want list to one of the affiliated sites so I don’t have to get a day job.

It’s my job to know what’s going on here but I will be real honest, I do not. There are copies on other sites, but TCG Player seems to be experiencing a run on this and that’s really interesting. Don’t expect this to be $10, but don’t expect it to stay under $5 if it’s not reprinted pronto.

So what about a deck where we’re bound to have a bunch of old cards? Will we see a ton of precon cards or what?

Looks like there’s something here after all. Let’s dig in.

You have got to love the shapes of both of these graphs. These are cards that are ready to move. The set is a year old but 90 products have come out since then and people have moved on hard from Commander Legends one. It’s time to pay more than $3 for a better Boundless Realms. This card rules.

No idea what’s taking this card so long when it already spiked to $5 but I continue to not understand this graph shape. What I do know is that this card is quite good and it’s very cheap but has also demonstrated the ability to hit $5 for a bit. I’m into these under a buck.

This card keeps threatening to mean business – I wish anyone took it seriously. Personally, if these are scoopable for half of their peak price right now, I don’t know what any of us is waiting for.

This wasn’t as deep a dive into the set as maybe you would have liked, but I covered two new commanders with radically different spec outlooks and I think they contrast each other in a way that’s instructive. I hope you agree and I hope you’ll tell me about it in the comments or on Discord. Until next time!

Blue Foils for the Win

Have you ever identified such a compelling speculation target that you’ve dreamed about it – perhaps in nightmare where you missed the opportunity and now the price has gone soaring? I recently had a bad dreams about Double Masters 2022 (2X2) booster boxes, which at the time were prices around $255 per box – a week later were up to $320 per box. Fortunately, after this dream I was smart (or dumb) enough to purchase several cases of 2X2, which are currently on track to be very profitable! While I have not yet had a dream about my first pick yet, that’s likely because I already took out a sizable position on it due to it being my first 10/10 confidence level selection. 

One factor I often use when evaluating potential selections is by looking at the quantity and type sold for any given card on TCGPlayer.com, which can be very illuminating. Typically, non-foil versions sell at a greater frequency for most cards, especially for products with collector boosters producing a large quantity of foils. But there are of course always exceptions to this rule. One exception is cards in many EDH decks that also have a limited number of foil printings. This is especially true for first time foils, for example Carpet of Flowers, which was first printed in foil in a Secret Lair Artist Series: Johannes Voss. This first-time foil started out at around $30 and continued to grow over time to $60 today. When combined with the other contents of this drop, this Secret Lair has doubled up in value in just one year.

I believe my first pick will replicate the success of Carpet of Flowers, if not more.

Secret Lair Kelogsloops Foil Edition – Including First Time Foil Mystic Remora

Price today: $39.99 plus tax
Possible price: $80 in 12 months
Confidence: 10/10

Mystic Remora is included in 117,989 decks on EDHREC, which is two and a half times as many decks as Carpet of Flowers. This is despite zero reprints until this new Secret Lair – in any form – which will finally put more eyes on the card. Impressive. The original printing of Mystic Remora from Ice Age was cheap for a long time, but over the last few years it had begun to climb to over $10. Absent this reprint, it would have been a $20 card in a hurry, and I think it still is on this trajectory given a little more time. Having a strong non-foil price is important to give foil copies a solid foundation to establish a favorable foil-multiplier. I expect foil Mystic Remora’s to start off reasonably expensive and begin climbing even higher after months of supply draining out.

The rest of this Secret Lairs’ contents are very solid as well, which is why I recommend the entire drop instead of buying singles post-release. This drop also includes Burgeoning, Utopia Sprawl, and Retreat to Coralhelm, plus any unexpected bonus card.  In particular, Burgeoning is a very solid reprint based on its inclusion in 30,000 EDHREC decks and current $20 non-foil price tag. Burgeoning’s current foil price of $70 doesn’t seem like a realistic comparison, considering it’s from the 2016 release Conspiracy: Take the Crown, but still, the foils should do well.

Lastly, the art of this drop is amazing, and it’s borderless to boot. This Secret Lair is firing on all cylinders and is about as close to a sure bet that we’ve seen in a Secret Lairs for a long time, assuming no other reprints of these cards in the short term.

Rhystic Study (Unstable Harmonics): Secret Lair Foil

Price today: $30
Possible price: $60 in 18 months
Confidence: 8/10

Everyone knows Rhystic Study is an S tier staple in EDH. It’s included in nearly 200,000 decks on EDHREC and is often featured by key content producers who focus on the Commander format. What you might not know is that the only affordable foil version of this card is starting to dry up fast. when the Unstable Harmonics version of Rhystic Study first hit the market, there were large bricks available as far as the eye could see. Vendors had 20, 30, 60 copies available for sale – and for a moment the price fell below $30/copy. But from June 1-20, 150 near mint foil copies have sold on TCGPlayer.com. There are still a few vendors with bricks available, including one with 48 copies, but it’s significantly less than a month ago and it’s only a matter of time until this version of Rhystic Study begins climbing significantly in price. Its current foil competition is the Commander’s Arsenal version which is $75 for a light played foil or closer to $100 for a near mint version. While it’s unlikely that this new Secret Lair version will catch up with a 10-year-old foil, it should be much closer to this foil version than the none foils, which is where it stands right now. I would wait until this card is officially crushed out of 2X2, before picking up your copies just to be safe. After that, it seems like this foil should be a solid steady gainer moving forward.

Spellseeker – Judge Foil

Price today: $80
Possible price: $150 in 12 months
Confidence: 7/10

Spellseeker is an incredible EDH card, providing a solid tutor effect on a body that can be repeated if flickered. It is in 36,000 EDHREC decks, including six percent of all blue decks. The only non-foil printing of this card is around $35, setting a high price starting point for the foil multiplier. This judge promo originally began circulating in early 2020, so we should be near the tail-end of supply. In April 2022, the price for the judge promo climbed to over $150, with a few selling at $200, before falling back to its present level. While fleeting, this highlights the solid potential of this version of the card. Given another year, I believe this card can once again become a $150+ card. While the original foil Battlebond version is slightly cheaper at the moment, that hasn’t held back other similarly positioned cards, and I don’t think it will be able to contain Spellseeker either.  

Running It Back

There’s a few adages in Magic finance that always made a lot of sense to me:

  • Let someone else make the last 10%.
  • Sell into the hype.
  • Don’t reinvent the wheel.

That last one is especially relevant now, with Double Masters 2022 previews starting up as of yesterday. At least one of the previewed cards is a reprint of a reprint, and so we know how this song goes.

For others, the tune isn’t so clear…

Double Masters 2022 was always going to be a big deal. The first one made lots of people lots of money, especially with the VIP packs predating our Collector Boosters. What’s really going to juice the amount of product opened is not the big-ticket price of packs, but the fact that Commander Legends: Battle for Baldur’s Gate was not a big deal financially. Yes, a couple of the rarest dragons are expensive, but value-wise, the set is quite underwhelming in the short term.

That’s not going to be a problem with DXM2. Immediately we got told that Dockside Extortionist is in the set, with foil-etched and borderless variants. The hits just kept coming from there, and some of them are clearly going to make us some money.

Let’s start with one of the big reveals from Thursday’s stream: Phyrexian Altar.

We know exactly how good this card is. It’s been registered in 44,000 Commander decks online via EDHREC, and that number is only the serious players who bother to set it up online. Plus, this has had only two printings, Invasion and Ultimate Masters. See if you can spot when the reprint happened:

As an additional bonus to that 44k number, it’s never been in a Commander precon, which can really goose some of the inclusion numbers. 

So yes, I’m telling you to KISS (Keep It Simple, Stupid) and buy Phyrexian Altar when it gets cheap. I’m especially telling you to go for the regular, nonfoil copies, as those should get to a wonderfully low price, likely under $20 and maybe as low as $10. This is as straightforward as things get in Magic finance, and it’s advice I would give to anyone who asked me for an example of how all this works. I mean it, too: Buying 20 copies when it was $15 (as the UMA copies were for a few months) and holding for two years would get you $60 a copy before fees. If you held for three years you’re looking at $80-$90!

Granted, there were no reprints of any kind for this card, and that’s relatively rare these days. Between Secret Lairs, special inclusions, and a new set every six frigging weeks, there’s a whole lot of reprinting going on.

Doesn’t take away from the simple truth that putting $100 into plain copies of Altar will double your money in a year, and might go higher. Note that this will be a rare again, meaning there will be a lot of copies to go around.

Let’s look at another Ultimate Masters card, this time a mythic:

Mana Vault is one of those cards that I, as a long-time, very enfranchised player, used to put between the spokes of my bike because I was an ignorant little snot who didn’t know how to do this properly. If that teenage jerk had just saved his cards, I’d have a mansion in the hills!

Anyway, we have here the same pattern: Got expensive, got reprinted, got cheap, and then got expensive again. Given that there will be multiple versions of the Vault again, I would repeat my advice that the best return on your money would be to buy the regular, nonfoil copies and then just wait patiently. Don’t spend all your money on any one of these cards, please be sure to diversify, but Double Masters 2022 is going to offer us a lot of opportunities to put some money in and get a lot more out.

This one I’m slightly less sure about, as there’s complicating factors: 

There’s no question that Bloom Tender is a powerful card. It’s an infinite mana engine with Freed from the Real, it’s an Elf, and in five-color decks, it gets out of hand very quickly indeed. Eventide was a low point in Magic sales, which is why the OG foils are so very expensive. This was in the Mystery Booster, and that put juuuuuust enough copies into circulation as to keep the price from going much higher. Then last year, arriving at the same time as the Phyrexian Praetors, this was in the Secret Lair: Jen Bartel edition. 

Again, that’s enough copies to keep the price from going up, which is notable for a card listed in 40,000 decks online. 

What I’ll be watching for, very closely, is the floor on regular copies. Right now, there’s some optimistic pre-orders for around $20, and that bodes very well for future opportunities. I ignore pre-orders, generally speaking, but remember that almost all cards start out at their highest prices, and drop from there. 

Bloom Tender should be no different, and I’m hoping it gets to $5 when all is said and done and all the packs are finally opened. It’ll definitely get to $10, which is an okay buy-in price, but I’ll be much more excited about it if it goes even lower. Having the Secret Lair copies available for $40-$50 depending on foiling puts a pretty hard cap on what Bloom Tender can do long-term, though I’d be expecting to buy in at $5 and get out when it hits $20-$25 retail in 12-18 months.

This is just a sample of what I’m expecting from Double Masters 2022, and as we get more previews, we’ll also be able to focus on what our long-term plans for the set are. Stay tuned!

Cliff (@WordOfCommander) has been writing for MTGPrice since 2013, and is an eager Commander player, Draft enthusiast, and Cube fanatic. A high school science teacher by day, he’s also the official substitute teacher of the MTG Fast Finance podcast. If you’re ever at a GP and you see a giant flashing ‘CUBE DRAFT’ sign, go over, say hi, and be ready to draft.

MAGIC: THE GATHERING FINANCE ARTICLES AND COMMUNITY