2002 WSOP 6% Rake Disaster

Tina Napolitano posted on RGP that the 2002 WSOP schedule was up on pokerpages.com. After going there, I posted the following reply on RGP:


"All Events will have 6% deducted from the prize pool, there will be

no entry fees added to buy-ins. "


2001 WSOP 2K LHE event. 615 entries @ $100 apiece entry fee = $61,500

in Becky's pocket. 2002 WSOP 2K LHE event. 615 entries * 2000 * 6% =

$73,800 in Becky's pocket.


An extra ~$190,000 out of the main event pool this year? Bye-bye.

Mr. McEvoy, you should be ashamed of yourself.


C'mon, Bobby Baldwin/Doug Dalton/Donna Harris, you've got enough lead

time & info now to get something going at Bellagio or Mirage during

this timeframe.


*****************************************


It appears that the rake gets even worse the higher the buyins and lower the entries get. Please let me know if I missed anything.

In my post above, I neglected to include the 3% rake in my calculations for the 2001 holdout, as well as to consider the tax implications for U.S. players of no(non-deductible) entry fee.


It would now appear that for the 2K LHE event we have: 2000 * 615 * .06 = $73,800 versus (2000 * 615 * .03) + 61,500 = $98,300; so maybe ol' Tom knows what he's doing after all.


A more careful audit will be needed to determine whether or not overall this is a good thing for the players. Guess I need to learn not to automatically assume the worst and go firing off right away.


And of course, all raked money goes to Horseshoe employees, not in Becky's pocket.

If there are 600 players... 600 * $600 (6% of 10k) equals..... $360000!!!!! Ive played the last two years... and it has been a wonderful experience... but next year? who knows?

I didn't see where the 190,000 number you used fits in????