Winstar Casinos 2,000,000 Guaranteed Blackjack Tournament WOW!

Discussion in 'Blackjack Events (USA)' started by wfagundes, Mar 1, 2008.

Page 6 of 12
  1. The Landlord

    The Landlord New Member

    split/split

    My apologizes. I was wrong.

    There will be no split of the pot at the final final table. I won't agree with it (assuming I'm at the final table). I would rather get 6th and take the risk, than surrender a possible first place.
     
    The Landlord, May 17, 2008
    #101
  2. TXtourplayer

    TXtourplayer Executive Member

    Rules list in their site

    Toolman, the rules are listed, however like in all tournaments they are subject to change and the casino has the right to make any and all changes.
     
    TXtourplayer, May 17, 2008
    #102
  3. Monkeysystem

    Monkeysystem Top Member Staff Member

    Deal Or No Deal?

    We're not talking about a typical tournament with, say, a $50K prize pool here.

    There's going to be almost $1.7M on that final table, meaning a chop would pay each player almost $300K. That's $225K more than the $75K sixth place prize. For most mortgage-paying Americans $225K is too much money to put on the luck of the draw from a deck of cards.

    This is the same question faced by the players on Deal Or No Deal. "Do I settle for this life-changing amount of money I already have or risk it going for even more?"

    If you refuse to chop this kind of money you risk the fate of so many players who took one case too many on Howie Mandel's show.

    For most of us, $300K would be a life-changing amount of money while $75K would not. For most of us the difference to our lives of $300K versus $75K would be more significant than the difference between $300K and $1M. The additional $700K would be really cool, but not as life-changing as the first $225K.

    Say Bill Gates were to offer you a choice between a guaranteed $300K, or a roll of the dice. Rolling one through five would take $225K off the table. Rolling a six would add $700K. What would you choose?

    It's the Law Of Diminishing Marginal Utility, applied to cash prizes. My Economics professor used this example to explain the Law Of Diminishing Marginal Utility: A man crawling through the desert dying of thirst encounters a Bedouin on a camel who offers to sell him a pint of water for $1000. He gladly takes the deal. Can the Bedouin now sell him another gallon for $8000? No, because the first pint had much more utility for the dying man than the next gallon.

    Refusing to chop a $1.7M final table means you believe that it's worth risking a guaranteed $225K to try for an additional $700K on a 5:1 card draw. It means you don't believe the difference between $75K and $300K is significant enough to not put it to a card draw, and that the next $700K is just as important to you.

    It's an individual choice that I hope everyone at that final table makes rationally.



     
    Last edited: May 17, 2008
    Monkeysystem, May 17, 2008
    #103
  4. LeftNut

    LeftNut Top Member

    To add to Monkeysystem's thoughts (and I'm not saying that I'd agree to this because I haven't considered it :laugh: ), but one could do a chop and still make the game mighty interesting. That last table, $1.7M, could be chopped as follows:
    1st $600K
    2nd $300K
    3-6 $200K

    This would turn the last table into a Sit-N-Go with everyone being guaranteed a very nice payday. Everyone would make more than the original payoff - except, of course, for the eventual champion.
     
    LeftNut, May 17, 2008
    #104
  5. Barney Stone

    Barney Stone New Member

    I like Nut's idea. It still leaves a climatic environment for the final table because there is still an extraordinary goal. Lets say for example everyone chops equally but plays for bragging rights. Thats fun but not as exciting as if a big money target is in play. Also, if there is an even chop before the TV production I dont think it will come off with as much intensity-we all know how BJT comes off on TV. With Nut's idea or or no chop the TV table will be much more emotional.

    Interestingly Im not sure a guy with the name "LandLord" will care so much about "For most mortgage-paying Americans" LOL The LandLord has proven to be one of the best players from what I have seen with many wins and final tables. I get the feeling he wants the entire enchilada! lol. But, the argument placed by Monkey is solid.
     
    Barney Stone, May 17, 2008
    #105
  6. Barney Stone

    Barney Stone New Member

    One thing I meant to mention. To keep the final table more emotional for the players involved-conssidering even chop- which should create better TV. Have a secret ballot for the "to chop or not chop" I guess a contract would be needed tho.....
     
    Barney Stone, May 17, 2008
    #106
  7. The Landlord

    The Landlord New Member

    The Split

    I do like enchiladas!:laugh:
     
    The Landlord, May 17, 2008
    #107
  8. BJMAILMAN

    BJMAILMAN Member

    Split

    $275000 apiece and $50000 extra for first. Or $250000 apiece and $200000 extra for first. Make it worth fighting for first.
     
    BJMAILMAN, May 18, 2008
    #108
  9. mociferous

    mociferous Member

    Taxes on Chops

    If the final table agrees to a chop, is there a contract ready for that, so the winner doesn't have to pay taxes on $1M, only getting $300K-ish--not enough to cover taxes!!?:eek:
     
    mociferous, May 18, 2008
    #109
  10. toonces

    toonces Member

    Remember, this is a strange beast of a tournament. It is part live tournament and part reality show. you can be sure that the reality show element will do everything in its power to prevent a chop. After all, the show is about making someone a millionaire, not giving 6 people $200,000 each.

    The rules of Survivor and most reality shows specifically prohibit deals. I would not be surprised if this show was set up in a way to make deals very difficult.

    P.S. Monkeysystem, keep in mind that different people have different definitions of a life-changing amount of money. For some, $1,000,000 is life-changing, but $300,000 isn't. $300,000 certainly isn't enough to retire on.
     
    toonces, May 18, 2008
    #110
  11. maxwell

    maxwell Member

    2cents

    MY 2 CENTS WORTH
    ON A CHOP THE ONLY ONE AT THE TABLE THAT WOULD BE HURT WOULD BE 1ST PLACE
    2ND-6TH DOES MUCH BETTER THAN PLAYING WITHOUT THE CHOP AND SHOULD THERE BE 2 ON THE FINAL TABLE FROM THE SAME FAMILY (NICE PAYDAY)
    BUT FOR THE SAKE OF THE GAME THAT IS WHY WE ARE THERE TO WIN 1ST PLACE AND BE ON THE FINAL TABLE (THIS IS WHAT WE STRIVE FOR IN ANY TOURNAMENT)
    I AM UNDECIDED WHAT I WOULD DO IF GIVEN THE CHANCE BUT I LEAN FOR A CHOP (MAYBE-MAYBE NOT):eek: :eek:
     
    maxwell, May 19, 2008
    #111
  12. TXtourplayer

    TXtourplayer Executive Member

    Have contracts just in case...

    If I am fortunate enough to make the August final table, I will have contracts made up, just in case we do decide to chop the final table. Old rule of thumb, cover your only a$$!

    With the 6th place paying $75,000, I think I'd be inclined to play for the million and suffer with whatever I make less then first place ($75,000 not a bad way to suffer...lol). However if actually at the final table, $300,000 for sure would be hard to turn down.

    I'd probably perfer for a chop of $200,000 for everyone 2nd - 6th with the balance going to 1st place. I'd also workout the tip with everyone ahead of time.

    It's easy to talk about now, but who knows for sure what we'll do until we are there. I can only hope I have to deal with this problem come August...lol.
     
    TXtourplayer, May 19, 2008
    #112
  13. maxwell

    maxwell Member

    winstar

    Winstar Has Posted The Results And Pictures From The May 11th Tournament:d :d
    www.winstarworldcasino.com

    WILL SEE EVERYBODY I JUNE
     
    Last edited: May 27, 2008
    maxwell, May 27, 2008
    #113
  14. LeftNut

    LeftNut Top Member

    LeftNut, May 27, 2008
    #114
  15. maxwell

    maxwell Member

    no problem

    No Problem You Did Not Step On My Toes-if It Is Faster ThEN IT IS A WONDERFUL THING
     
    maxwell, May 28, 2008
    #115
  16. Springbac

    Springbac Member

    Winstar Hot Seat Chips

    Anyone interested in purchasing a chip for the June tournament priced at $350, please send me a Private Message with your name & phone number & I will contact you.
     
    Springbac, Jun 5, 2008
    #116
  17. packin

    packin New Member

    winstartournament chips

    looking for one, maybe 2 chips for june 13

    ispackin@yahoo.com
     
    packin, Jun 9, 2008
    #117
  18. Springbac

    Springbac Member

    Chips are really hard to find & the price is going up. I know someone that paid $500 each for 2 this past weekend.:(
     
    Springbac, Jun 9, 2008
    #118
  19. packin

    packin New Member

    Im looking to make a last minute trip to winstar, alone or with a buddy from miami, but I dont want to get there only to be "shut out", even if I had to pay the full nut @ 550 at the "BOX OFFICE".

    1,...does anyone have any chips for sale, and 2,...does anyone know for sure that entry for purchase will be available on friday?

    help, if you can
     
    packin, Jun 9, 2008
    #119
  20. TheLegend

    TheLegend Member

    winstar roommate wanted

    looking for someone to share a room at the hotel...

    for june 12 and 13 for winstar event

    pm if interested......rate 90 nite...plus taxes....
     
    TheLegend, Jun 9, 2008
    #120
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