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Live Poker Tourney to earn seat at WSOP event
Topic Started: Jul 18 2006, 02:27 PM (172 Views)
:rocklawr
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Eye in the Sky!
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I pretty much play a monthly tourney with 16 to 30 guys with top 3 winning. I'm looking to increase the stakes. I'd like to take a certain percentage each month and put that towards a winner take all final single table tourney with the winner getting a seat at a tourney either in Atlantic City or Foxwoods.

I'm thinking of doing a set group of 24 players(3 tables of 8). The location would vary each month pending on who has room to fit 3 tables in their house. Also, if a regular drops out we have a pre-approved lists of replacements to fill the spots.

I'd still do top 3 win money, but I'd take approximately 50% of the total purse towards the final event.

So if I get 24 players each month at $100 each that is $2400. I would take $1200 (maybe less) and give that to top 3, probably around $700/$350/$150 for top 3. So if I run this for 10 months that would give me about $11,200 for a seat at a local event.

The WPT has events in Foxwoods and at the Borgata in AC multiple times a year so the location is fine.

The final table would be the winners of each monthly event. If you win multiple months then I'm not sure if I should increase their starting stack by the # of times won. What are your thoughts on that?

I cannot force the winner to play in the casino tourney either. They can take their money and do with it as they will, but I think most of the people I play with regularly would definitely do the casino tourney. I know I would.

I thought about doing it for the WSOP championship but then I have to consider airfare and hotel and I'd rather not have to worry about that.

Any thoughts or ideas would be greatly appreciated. Thanks.

Ron
"You, me, or nobody is gonna hit as hard as life. But it ain't about how hard ya hit. It's about how hard you can get it and keep moving forward. How much you can take and keep moving forward."
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:deejalert
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Eye in the Sky!
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Some thoughts:

1. Have you gotten any feedback from your 24 regulars.

2. Basically this is a 50+50 buy in tournament. 50 goes to prize pool 50 goes to future prize pool. Is paying both 50 mandatory to play, or can someone only pay 50 each week, but they are not eligible for the final prize.

3. What if someone wins the tourney in month two, but is unable to continue playing due to a relocation or job or family. Are they still eligible to play the final event, even though they would not have put that much money into the prize pool?

4. Is the 50 future prize refundable if someone drops out. Lets say i am playing for the first three months, but unable to play for whatever reason. Do you refund my 150 and make my approved replacement buy in for 150 to replace it? I think you have to consider this, because if someone drops out, the person replacing them is going to have far lesss money in the addiitonal future prize pot than others, with an equal chance of winning it.

5. Multiple winners, I think you start them with more chips, plus don't replace them with the runner up. Technically speaking if somene wins all ten weeks, then they automatically win the seat.

6. Additional paths to the finals. I think you might have additional paths to the finals, something like 3 top five finishes, or 3 times in the cash, or 6 final table appearances. Just find other ways to reward consistent play as well as the benefit of winning.

7. Set up a seperate bank account for this money, with statments mailed to every member each month, or let the statement be reviewed at your house monthly. I know you're honest, but better to cover the bases letting all participants know that no one is borrowing money on their money.

8. Are there any cheaper events, something in the 5k range, so maybe you can pay out three places in the finals?
Your Montlhy laundry tip from Deej
Follow these guidelines to care for linen:


Avoid creasing linen clothing in the same places repeatedly-the fabric will eventually weaken at that crease point.

When choosing colored linen clothing, look for a label that says "colorfast" or "vat dyed" for better colorfastness.

If machine washable (remember to check your garment care label), use a shorter or gentler agitation cycle and air dry.
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:rocklawr
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Eye in the Sky!
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Those are good points and interesting suggestions Deej. Thanks much.

FYI, I have only talked to a few people about this but most of us have had similiar discussions about this very thing in the past so I don't interest would be a problem. But you pointed out many possible scenarios that could cause major problems that I would need to address.
"You, me, or nobody is gonna hit as hard as life. But it ain't about how hard ya hit. It's about how hard you can get it and keep moving forward. How much you can take and keep moving forward."
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:deejalert
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Eye in the Sky!
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Thinking on this some more: This is a great idea.

Just bouncing numbers around. Would you consider allowing a direct buy into the finals? If so you might be able to drop the amount to 25 per session to the final, then allow a direct buy in for 250 for your regular players, or 400 for non regulars; limiting the field to 30 players. You might even hold a lct for 25.00 right before the final tournament winner gets a seat.

Doing some math. Lets say you do 25.00 a month for 10 months.

6000 and have ten participants
2000 another eight buy in directly for 250

you almost have the same prize pool, but have awarded more money in your tournaments.
Your Montlhy laundry tip from Deej
Follow these guidelines to care for linen:


Avoid creasing linen clothing in the same places repeatedly-the fabric will eventually weaken at that crease point.

When choosing colored linen clothing, look for a label that says "colorfast" or "vat dyed" for better colorfastness.

If machine washable (remember to check your garment care label), use a shorter or gentler agitation cycle and air dry.
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