WHAT ARE THE RULES AND HOW MANY SEATS ARE THERE IN THE TOURNAMENT HOW MANY ROUNDS AND SO FORTH AND WHAT IS FINAL TABLE PAYOUT :laugh:
Is GSN paying for anything ? It seems like players are paying for the whole prize pool and production costs.
Players footing much of the bill The players are, from what I've seen so far, definitely footing the bill for the prize pool. As to production costs, I don't know how much this is or what it entails. In any event, it looks like the players are kicking in another $1,000,000 or so for this. :yikes: Sweet deal for GSN!
I'll play The players pay for most tournaments one way or another. Last year all we heard was that GSN wasn't open for all the players, but only a selected few. This year they have opened the tournament to everybody and are offering satellite events to get in all over the country so they will give even more players a chance to make it on the show. From what I am seeing it is a sweet deal for the players also and not just GSN. I for one believe that GSN and their World Blackjack Tour will do nothing but help build interest in future blackjack tournaments. I am surprized to see anyone from this site posting negitive comments about GSN efforts for allowing everybody a chance to play in this years WSOB III.
KenSmith 2006 WSOB satellite qualifing Ken, In regards to your post yesterday regarding WSOB 2006 satellite qualifing events, I today contacted the Thunder Valley Casino, Lincoln CA you listed in your post as participating. I spoke to six different people in six different departments and nobody had any knowledge about Thunder Valley Casino being involved in GSN's 2006 WSOB tournament. Although I will probably not participate if it's a 50% player negative equity to qualify as has been reported on this site, I would like to make that decision. Any additional information you have about Thunder Valley would be appreciated as they seem to know nothing about it. The GSN web site also has no information I could find.
How much is too much? We are not posting "negative comments about GSN efforts for allowing everyone for a chance to play in this year's WSOB III". We are however criticizing the way the finances are apparently being handled. Are we to just blindly say "I don't care what it costs --- It's a chance to get into the WSOB". I don't think so. How much negative equity are we to tolerate? -10%? -25%? -50%? -75%? -90%? -99%? Personally, I think -50% is too much, which is what it seems to be working out to be. If others feel differently, lets hear it. Sure GSN is opening the WSOB to everyone but I think they may want too much of the pie. The players, through their entry fees are already paying for the prize pool. But I guess that's not enough. Normally when a producer creates a show - be it TV, Movies, Broadway, etc. - he finances the show and pays the actors. If the show is a success, he reaps the financial rewards. If the show flops, he looses money. Thats the way the world works. Why should we, the BJ players, pay for expenses normally bore by the producers? It's a sweet deal for them, I wish I had the contacts to get in on it. :laugh: :laugh: I guess what it amounts to is that blackjack is an exception. In the WSOP, the players do not pay production coats. In other game shows, Jeopardy, Price is Right, Wheel of Fortune, etc., players don't pay any fee. But we blackjack players should. Sounds a little unfair to me. NO, make that a lot unfair!!! Kind of makes one feel like one is being taken advantage of, or what's the word? :fish:
rookie, perhaps our GSN contact can shed some light on the Thunder Valley situation. They were mentioned on the list I got, but it is possible there was a mistake. I'm guessing however, that it perhaps hasn't been finalized yet but is in the works. As for this whole equity business, I haven't been told how much the casinos are paying for these seats. If they are paying $25K, then the casinos are to blame for the profiteering. If they are paying $50K, then it sounds like GSN is forcing the casinos to pay for publicity and production costs, which are getting passed on to players. I agree, 50% is way too high a hold. I'm willing to fade a 10% vig in a normal event, and some number higher than that for a televised tournament because of the fringe benefits that appearances bring. However, that number is still less than 50%.
WSOB qualifing Thunder Valley Ken, Thanks for your response to my inquiry. Any additional information you receieve will be appreciated. If WSOB satellite qualifing tournament entry fees include a 50% or even 20% VIG it doesn't pencil out financially except for those invited free of fees. Although some members of this site have stated 2006 will be a great year for everyone because televised tournaments will be open to the world, it sounds like a great year for Indian Casinos and/or GSN.
GSN or the casinos? GSN is charging the casinos a fee to host their tournaments and win a spot on TV for the big prize money. This fee is for advertisement of that casino just like any normal advertising fee. The amount of prize money given out by each casino is up to them not GSN. It sounds more like the casinos are trying to recupe their advertising dollars from the tournament players. However if anyone feels that GSN or the casinos are taking advantage them, I just wouldn't play in any of the satellite events. That will leave fewer players to have to beat for the ones that want to play in them, including me. And as far as getting paid to be a contestant on their show (WSOB III), all those who make it on will get a minimum of a $1,000 with a chance for $500,000 for 1st place. If this is getting screwed by GSN I hope they keep on screwing us for years to come.
Ute Mountain sends 3 players Ute Mountain Casino in Colorado near the Four Corners has announced three satellites, each of which will send one player to the GSN final event. The dates are Dec 2, Jan 6 and Jan 20. Read the press release here: http://www.prweb.com/releases/2005/11/prweb309823.htm If someone calls about this, please post whatever information you learn, including entry fees, format, and any room deals included. The event calendar entry is here: Ute Mountain Casino WSOB Satellite
Cherokee Casino WSOB 2006 Has anyone played at the Cherokee Casino (Oklahoma) WSOB qualifiers? According to their website you can play on Friday nights at 7pm and Sunday afternoons at 2pm beginning Nov 11th thru Jan 29th to get into the finals which will be played on Friday Feb 3rd (Friday qualifiers) and Sunday Feb 5th (Sunday qualifiers). Buy-in is $55 + 5 on Fridays and $45 + 5 for Sundays. Weekly prize is $250/$150/$100 with top two advancing from each weekly to the finals. Two finalists (Friday and Sunday finals) win a seat to WSOB 2006. They don't list how many players per qualifier or if this is an elimination or accumulation format. If anyone has played this tournament or is going to play, additional information would be appreciated. Pat
Wsop Pat, there are 3 casinos at which to qualify. The Tulsa event will put their Fri. and Sun. final winner in the Wsop. The other two sites will play together and pit the final winners heads up for only one spot. They have a $25 instead of $50 entry. It will be a 2 advance format for all....I think they will let everyone enter. I haven't decided to drive up or not....I will post if I do
Last Friday night they had 66 players, and Sunday they had 55 players. They will run the qualifying tournaments no matter how many people show up to play in the tournament. The max number of entrants is around 100 per tournament day, (I dont know exactly). This is a process of elimination type of tournament. Any potential player is allowed to enter the tournaments.
Thanks for the info Thanks Rick and Wildwoods for the info on the Cherokee events. Keep us posted on how things go if you go and play. I might try to make it over if I can convince my wife that Tunica is half way to Tulsa, so if we go to Tunica why not just go on to Tulsa for the weekend instead. I thought about going to Philadelphia, MS (Pearl River) to give it a shot, but they play on Thursdays and their finals is the week between Christmas and New Years which is not a good date for us. Pat
WS o B Tax issue Does anyone know what the tax consequences would be if you win one of these WSOB seats through a satellite tournament. I am entering at the HoChunk and the literature says that the seat that you can win is valued at $25,000.00. Does this mean that if you win a seat, you have $25,000 of income?
Your income will strictly be determined by your final payout from WSOB. That's guaranteed to be at least $1000, and it could be more than $500,000. Winning a seat worth $25,000 won't affect your taxable income at all. The outcome of your seat will though.
Tax question I asked the people at HO-CHUNK that specific question. Their answer was that you would get a tax form for the $1,000 won but nothing related to taxes for winning the seat in the WSOB. Their logic was winning a WSOB seat is the same as winning a seat into the next round of any other tournament. I'm far from a tax advisor, but this is what they said. GOOD LUCK!
