Golden Nugget June '23

It appears the board has become quiet. I changed my flight next week to arrive in time for the GN $100k.

I'm out of practice and may not have time to prepare. Bankroll is also a concern.

Speaking of BR, in poker, I always budget for reentry fees. Should I do this for blackjack? $500 is steep.

I get the feeling this is one of those comp rewards to high rollers and the shleps like me are the ones funding it.

 

Rebuy at additional $500, indeed makes the GN an expensive tournament. Especially with their reduced complimentary comps for entering, such as rooms meal vouchers, high minimums on floor, no free plays, etc.

But, in addition for a second chance with rebuy, it also qualifies one for the wild card drawings after first round. Granted odds on wild card can be high, especially to semi, or final. Usually many for quarters. But final table usually chops for 16,000. Or play for $50,000 first. I simplify all EV considerations with a return on investment outcome. Just on wagering $1,000, which includes the rebuy, has potential return of $50,000. 50-1. Or chop 16-1. Difficult to find equal odds on any other activity. And one is utilizing one's supposed skill for an advantage, rather than rely on an uncontrolled event to determine the outcome. Steep, but worth it. And the GN was independently offering free rooms over the tournament dates. Check your mailers or call your host or call reservations and ak for offer codeDMI. There is a $25 free play available over the tourney dates.

As far as high rollers reward. That's how tourneys started and skilled, advantage players, the ones whose names we all know, took advantage.

 

"50-1. Or chop 16-1"------ (AGAINST you)---------------- Not meaning to be disagreeable, my friend, but those are FAR FAR FAR from being favorable odds in anyone's book.

 

I believe I asked about comp rooms and was told no, but I've called and been on hold and hung up on a dozen times.

This operation is terrible!

I'm trying to find out how many advance from each round. And if there is a mulligan.

I haven't gotten answers. I don't have a host there.

It sounds like prizes are cash or casino chips, play until you lose. But, I'm not certain. I don't trust he customer service
people but that is what it sounds like.

Are you saying the final 6 chop it? I was told top six pay is 50k, 15, 10, 6500, 3k, 2k and 7 to 31 get 500.

Friday 4 to 7 early register with some type of drawing.
Saturday is late registration 8:30 to 10.
Sunday starts at 9AM and there is a quarter, semi and final on Sunday.

I'm taking all of this with a grain of salt. The sources were multiple reservationists.

 

I was going to ask about chopping. It appears that it makes sense when the prize pool is top heavy. Makes sense.

Is a chop ever done after one or more players have busted out, as they do at poker final tables?

Doc, congratulations on the last GN win. It sounds like this weekend has a bunch of rounds and being in a drawing requires that you have Rebought. Will you please share how many rounds there were in the last one? I understand if all this is my problem to figure out.

Another reservation rep said there is a Super Rebuy. What the hell is that!?

Is this all posted somewhere? I couldn't find it on their website.

Thanks.

 

To clarify the lottery for re-entry, I was told you must have rebought to be entered. If correct, this adds some amount of EV to the re-entry, correct?

What would be a good guess as to the number of players willing to re-enter for $500?

If a player pays the $500 re-entry fee, I assume most of them would be around for the drawing/s. This should shrink the lotto field a lot compared to no re-entry fee required, so it could be a big advantage compared to the entire field qualifying.

I don't know how many players advance and how many seats are awarded via lotto.

It'd be nice to put an expected value on the re-entry. Any help is appreciated.

I'll try to attend Friday's "reception" and get the rule sheet, as well as an estimate of total entries.

 

Billy: The odds against me would be the number of participants. I'm saying your potential return on investment are the numbers I posted. Even better if you never had to re-buy. There is no expectation of a 50-1 return on VP or normal pit BJ play. And it is not the same as horse race odds or sports betting odds, where the odds are calculated on the outcome of something beyond your control. Same as Lottery. Except in Lottery, odds of hitting are determined, and one would only normally play when the payout exceeds the odds. But your potential return on investment, say in Lottery for $1. is astronomical. As an individual you invest a certain amount with an expectation of return. We might be looking at this from two different directions. Anyhow continued God Fortune to you.

 

Ternamint:

Call with response to offer DMI for room

Two advance from every round to the semi finals whee one from each table goes to finals with one wild card.
There no longer is a Mulligan.
Final prizes are cash.
Only saying most of the Time, the final table chops rather than play. If it plays, the payouts are as you stated.
Chop determination comes before final table play. Those on final table vote to chop or play. If there is one vote to play then it is played out.
If you are eliminated in first preliminary round you can rebuy. That rebuy qualifies you for all the wild card drawings.
If you are eliminated in second or third round you can rebuy again, SUPER REBUY.
Number of entrants varies from month to month and other factors.. If you wait to register, you may get an idea of total entries.

 

noman, Thank you.

When you refer to roundsrounds, 2 and 3, are you implying there are multiple first rounds? The quarter final, semi final and final table are the next steps?

Doc said his name was drawn and he made the FT. He also said he didn't want to reenter. I surmized this meant you used to not have to reenter to be in the drawing.

If few players reenter, the drawing odds are boosted for those that do. Correct?

Do you have an idea if the EV is worth the reentry, assuming a player is equal to the top 25%, for example?

 

You are right. I need to stop posting when I've been drinking.

Billy C

 

How did tournament go? Did you get to final table?

 

Love to discuss further in Harris over multiple beers. And, it seems I only post in the middle of a hard bender.

 

John: Basically correct on your first statement.

The first round is just that on Saturday. Plus the initial rebuys, played later on Saturday.

The first round on Sunday, from the Saturday winners, is basically a FIRST round again,with opportunity for a SUPER rebuy, meaning the opportunity to rebuy, if eliminated from what now is a second first round. Winners advance to quarters.

Losers in quarters have opportunity for a second rebuy, which is a SUPER< SUPER rebuy.

Then semis with one winner per table to finals. And then final table.

To get your name into the wild card drawings, you have to have won a preliminary round, or made an initial rebuy. Everyone who has done so, is put in the drum for wild cards for each of the draws. This year they didn't have a first wild card drawing, for the second preliminary on Sunday morning.. They did have a 22 name pull for the quarter finals and six for the semis. And the one very lucky one for the finals.

Doc must have won a preliminary round.

And I appreciate those that use an EV calculation, but to me that only mattered when there were so many tourneys, that one needed to figure which were valuable. That is not to say, that there can be some totally out of line with regards to entry and payout. But today with so few opportunities, a strict EV calculation would eliminate participation in any tourney, except those with a possible overlay. Again, s simple calculation of the cost of an entry times number of buy ins (including rebuys) compared to total payout would determine whether the casino was gouging participants(making money over and above stated payouts), or being equitable by adjusting payouts based on participants. That has the flip side of reducing payouts with a lower participation.

Golden Nugget threads the needle, by guaranteeing their published payouts.

Except for their privileged guests, they no longer offer rooms to tournament registrants, no longer add a food credit, have no buffet, or other complimentary extra, except bottled water.

And as far odds of getting a wild card based on number of rebuys, I defer to grongog

 

Sorry, I missed your posts and went to John R's. My response to him would answer your questions, I believe. And no, I didn't make anything, as i over analyzed my position in my first preliminary round and played my way out. And doubly paid for it by getting card outed in my rebuy attempt andnot being lucky to get a wild card drawing, when at least five names of the initial 22 wild cards, weren't there, so 27 names were drawn, and of the six for the semis, nine names were drawn because of no shows, and remarkably two extra names had to be drawn for the finals.

As a schlepper, I have to reasonably succeed at GN, to attend a subsequent one, or wait until success at a reginal, or have an occasion for good air fares and some kind of Las Vegas comps to re attend. And those opportunities are becoming a thing of the past.

 

June 10, 2023. I won my table in Rd 1 but lost in rd 2. I re-bought and lost. I also was hoping all those extra name draws would work out. I think I made two mistakes, but I don't think they cost me. I read the rules and circled max bet 2,000. I then attempted an all in and was reminded of the rule. The next mistake was on a final hand. Someone pointed out after the the table was done that I didn't have to hit (if I recall correctly). The stacks were very close. I believe the scenario was Win-win, I lose. Lose-Lose, I lose. So I hit my stiff(?) hoping I'd win while the other player stood and lost. I would have lost either way in hindsight, but a mistake is a mistake. The spectator may have had a more accurate count but I thought I was trailing.

 

If you were trailing then standing on a stiff would have been a serious error. It would give your opponent the opportunity to also stand for a lock.

 

I failed to post about my results last year. I apologize to the board. I take, take, take and don't give. Not cool for me to do that. I'll post a bit here and more in coming days. Nothing really to add but can confirm last year's posts.

I know I did at least one rebuy, I'll look to see if I did two. It doesn't seem as though $1,000 or more spent on a 21 tourney garners any host attention absent additional rated play. I was hoping the fact that I tossed that much at that event might get some 'points'. I got nowhere this week with customer service when inquiring about room rates. "Call a host." I don't have a host and my recorded play there is tiny. My ace in the hole is staying with a friend for the cost of his upgrade to add me. Maybe $40 a night. I also plan to attend the Friday reception. Does anyone know how many people show up to that?

I don't see a reason for contacting a host, but I may try that Event Code you posted last year. I need to also look at my player account.

My results were not good. It's fuzzy now but I don't recall being upset at my performance. I think it was one of those times where I just didn't get cards. For this June, I'll be there and intend to play it. However, if I can't pass my own preparation steps, I'll have to consider passing. One tournament a year and about a dozen in 30 years, isn't much experience. It's enough with study but $500 x 1,2,3 is steep. I have about ten hours of review in so far. I feel like 40 more hours of study will get me comfortable!

 

I'd forgotten that I posted this update. I'm glad I did. I couldn't recall my results.

 

It's possible that the other player was a an expert and had a more accurate count on my chips. But, why would he have suggested not hitting. I don't recall the stacks and the betting, so it's a bit of a moot point.
Had I been ahead, and the other player been a novice, I believe I should've played the hand differently. Based on what I'm reviewing in SW's book, if I bet first, I should bet big against the novice. I don't want them to 'accidentally' bet big leaving me with a loss if he wins. As mentioned, I need to study. Against an expert, I would need to bet half his stack with a plan to double down. I'm not sure. Lots of studying to do.