Las Vegas Hilton will be holding a $250,000 tournament which is ALMOST free (see event calendar for more complete details). With a $15K line of credit or the same amount of front money there is no registration fee!. Or, if you wish you can simply register for $2500. All registrants must have a minimum of 6 hours of rated "non-tournament play" at an average bet of $400 (four hundred dollars) prior to noon on Sunday or they will be disqualified by the tournament committee. Now the good news: All prizes through 24th place will be paid in promotional chips. Sweet,sweet, sweet :laugh:
What? Rich, Almost free? Do you realize how much money you could lose at a $400 per hand bet avg.? Lets say you catch a bad run and lose 10 hands more then you win per hour, that is -$4,000 X 6 Hours = -$24,000 in losses. Now times that by two days and it equals -$48,000 in possible losses. That is not what I call free, and it gets better. Should you win your round the first day in the tournament and not have enough time or $400 avg. bet then you get diqualified on the second day. It happened last tournament at the LV Hilton. If your that big of a player by all means it could be worth wild, but don't tell everybody it's all most free. A small to meduim player would get eaten alive in that game.
Let me explain Rick: I was being facetious. Playing $400 probably one on one or certainly with few players at the table means 200-300 hands per hour. At this level there's a pit critter and a camera trained on the player at all times. You'd need a hugh bankroll or some big replenishable source of income. The last insult of this tourney is that the 24 prize winners are payed in promotional chips. These chips have to be played to be converted to cashable chips. Sorry that you failed to see the utter ridiculous nature of this post and this tourney .
Sorry Rich I was trying to be nice on my last post, I thought you were serious...LOL. Not use to many joking on the site besides Joep, me, and sometimes BJFAN4. Glad to have some more dry wit...LOL.
Wow! Sorry, I guess I need to list instagator to my list of dry-wit contributors. How could I have made such a mistake to leave him off in the first place. What a come back and it only took him 11 days to come up with "Bite me!"
Misleading previous posts The previous posts about "losing $24,000" and "playing a second day" are not a part of this tournament (unless you want to lose $24,000). The other post reply is incorrect in agreeing with the earlier post. BOTH OF YOU SHOULD RE-READ the Calander of Events for tournament details which are correct as posted.
Please correct Brutus please correct what is wrong and how? Just saying the post is wrong doesn't tell us anything. What I was told by the LV Hilton was that 6 hours play at $400 avg. is required to play on the 2nd day (should you advance from day one). I just pointed out that "IF" you lost 10 hands per hour at $400 per that would equal $4,000 per hour and times that by the six hours required play that you could lose $24,000 at that rate. NOTE: I never said you would, only that you could. You could lose more and yes you could win, I was just pointing out how much and how fast you could lose money at the rate they want you to play. I see where it is listed in the events that you can "JUST LOSE" $8,000 and play on the 2nd day. Now it sounds like a much better deal...LOL
Please correct me if I'm wrong TX, I'm saying that you have from Friday until Sun. noon to have 6 hours of rated BJ play at the tables at $400 average bet, or a 3500 points of theo.(I don't understand this theo. stuff), or loose $8,000. All who qualify then will play one on one for the promotional chips.
Et tu, Brute ? Brutus TX gave an honest estimate of what could happen with 6hrs of play at an avg of $400. From a more practical point of view, would a player push out 4 black chips or would he/she push out one pink $500 chip on each hand??. TX's loss estimation is conservative. The crowning blow is that after getting pounded to get into this tourney ("could only lose $8k") if the participant wins he gets paid in PROMOTIONAL chips. He/she ought to be smart enough to know that the cage doesn't cash these non-negotiable cheques. I posted the info in the calendar which you recognize as correct and accurate.
Promotional chips, Good or Bad? Brutus you seem to be excited about the fact the Las Vegas Hilton was going to pay in promotional chips? I understand that you don't pay taxes when paid with promo chips, however what type of promo chips are these? 1) Are they the one's where after you bet them win or lose the dealer takes them up? 2) Or are they the type you can keep playing with them until you lose them? Lets use option #1 for the first example: you win the $250,000 in promo chips, lets say you win at a 50% rate on the tables. That will give you $125,000 in real chips to cash. At that rate I would rather get paid real chips and pay the taxes. Now use option #2: If the promo chips are played like real (only you can't cash them) this is not as bad. It is just like regular play only with higher value chips. Now you hit the same 50% winning rate as in option #2 and you will win $250,000 in real chips. Remember even though you win the tournament you don't have the money unless you win with the promo chips. Bottomline the winner should make money, however don't think of it as $250,000 cash and do you have to still pay taxes from the amount you do win? Also add on what you did on the regular tables to get in the tournament. Lets say you win $125,000 after playing your promo chips, and you lost $8,000 more on the regular tables for the three days. You end up + $117,000 with is great (I would take it in a heartbeat). Now what about taxes? I just don't want you thinking in terms of $250,000 cash for first place. One last thing, how long do you have to play those chips? What if any restrictions is there on those chips?
LV Hilton one on one tournament Please don't think I was trying to brow beat. We are all in agreement, but looking at this tournament from different angles. To play 6 hours at $400 average is going to take a big bankroll. I doubt everyone would be rated properly. If you bet 250 to 4,000, you would be cheated on your rating if they only saw you at 250. I think most players will qualify by losing $8,000. I doubt if they will even get 80 players, therefore the prize pool will be reduced. I'm going to pass on this tournament.
