The location has been set for both the $500 & $5,000 entry fee Super-mini tournaments. Once entry fees are collected the location will be told to the players.
Your right! These players are high rollers for sure, I'm only playing because I have a backer. I wish I had the money to pay $5,000 for (maybe only) 30 hands.
Important questions about the Super-Minis I understand that the location of these events may be kept somewhat under wraps until they're about to happen, but I want to see some critical questions addressed. We're talking about a lot of money here. 1) I know which casino Tx has in mind here, and he says it's a done deal. I'd like him to confirm that the casino has definitively agreed to hold this event. Having someone else speak with a representative there would be best. 2) The casino in question has set a $1200 price on the services of the dealers, pit and a floorperson. That's quite reasonable in my opinion, but everyone involved with the $5K event needs to understand it. That $1200 will come off the top of the prize pool, and doesn't include a tip. 3) The same fee will apply to the $500 entry event. Will that also come off the top of the prizes? There's been some talk about paying it in the entry fees instead, like a poker event commonly handles this. Say, $500 + $40 per entry. This needs to be decided, and quickly. 4) How are we going to manage the money in these events? Am I correct in assuming that the casino will not be involved in prize funds? If we're self-managing, there needs to be a well-understood arrangement to safeguard the cash. Will a casino (the Hilton?) allow a safe deposit box to be used where multiple people must be present to withdraw the contents? Ideally, any one of the designated people could deposit, but only the group could withdraw anything. 5) Similarly, we need to agree on a method of verifying the amount of each person's buy-in, before it is placed in the deposit box. Perhaps one or two designated people need to be present as the cash is counted, put in a separate envelope, and signed off on by the entrant, and all of the verifiers. Upon the completion of the event, we'll have to determine the method of again verifying the cash counts and the payouts. I'm excited about the possibilities here, but we need to be careful that everyone is in agreement about the process.
Casino Confirmation TxTour has provided me with a contact at the casino where this is being arranged. I'll make a phone call in the next day or two to recap the arrangements.
Casino arrangements are firm. Just following up: I was on a three way call today with TxTour and the casino where this is arranged. It's a downtown property. The arrangements are confirmed for both Sunday night and Monday night from 7 PM to 10 PM each. Looks like the game is on! I'm excited about these events.
SUPER-MINI's Prize Structure Prize Structure and Cost for the SUPER-Mini’s $500 entry + $40 fee $500 $40 x 36 x 36 $18,000 $1,440 This will be used to pay the expenses. Any additional tip’s are up to the winners. 1st = $ 9,000 2nd = $ 3,300 3rd = $ 2,000 4th = $ 1,500 5th = $ 1,200 6th = $ 1,000 $18,000 Total $5,000 entry x 36 $180,000 1st = $ 95,000 2nd = $ 25,000 3rd = $ 20,000 4th = $ 15,000 5th = $ 12,000 6th = $ 10,000 $177,000 Total $3,000 will be taken off the first place for expenses and tip. Any additional tips are up to the 2nd – 6th place winners.
Prize structure TXtour, I think that it should be us –the participants that set the prize structure. In my opinion, your proposed prizes seem too “top heavy”. Also, it would make me feel bad to pay $5,000 entry fee, advance to semi, then advance to final, and finish forth, or even worse, fifth - and barely double my entry fee ($12K)! Another thing, let’s keep things transparent. The cost of the tournament is $1,200 each, and that includes casino paying dealers; I know they pay next to minimum wages. The total cost for two tournaments is $2,400. Most likely it will be three tables, two heats of first round, then semi and final. We need three dealers, two of them working for about two hours and the third dealer (one that will deal finals) working about three hours, for each day. Total dealers’ tips could be $300 twice and $500 for the person dealing finals. I propose that you keep $940 for your expenses and efforts. $2,400+$1,100+$940 = $4,440 We receive $1,440 from the extra charge in $500 mini. Now, we need to collect $3,000 from the prize-pool in the $5K tournament. The prizes paid to players in the big one will be $174,000. Here is my proposed prize structure: ..........$500entry ....$5K version 1 ...$5K version 2 1st =.... $7,000 .........$70,000 ..........$70,000 2nd =.... $4,000 .........$34,000 ..........$30,000 3rd =.... $2,500 .........$25,000 ..........$25,000 4th =.... $2,000 .........$20,000 ..........$20,000 5th =.... $1,500 .........$15,000 ..........$16,000 6th =.... $1,000 .........$10,000 ..........$13,000 S. Yama
I agree You know me, I hate a top heavy tournament. The only reason I went with this structure is because the players said they wanted a chance to win $100,000. I'm with you, I would like to know I can make $20,000 minimum for my $5,000 investment (or should I say my backers investment). I have no problem putting it to a vote with the others. Good call S. Yama
I agree w/ Yama... hate those top-heavy tourneys. Nothing worse than getting to the final table, busting out in 4th, and barely doubling my buy-in. You can count me in for the 500, probably not the 5k. See you in a few days -- -dave.
I think I like a more spread-out prize structure as well. Perhaps a vote cast when the money is put up?
