2006 WSOP Harrah's Satellite

I'm curious if this is really a bad deal or if it's just me.

In 3 weeks Harrah's outside of Omaha is having tournaments for a WSOP ME seat. $250 buy-in capped at 100 entrants.

1st place - $10k buy-in + $1k cash
2nd place - $4k
3rd place - $1.5k

So they will take in $25k, and distribute $16.5k in prize money. I know they need to take some cash and make some money, but isn't 34% of the prize pool a little egregious?!?!

Ted

[SheridanCat]

Horrible.

If they advertised this as a $165+85 tournament, no one would enter. You should not play this and you should make sure everyone who is even thinking of it knows the actual vig.

Regards,

T

Agreed it seems like a total rip. I'm not sure how they can compete with online satellites with such a stinky tournament structure.

Of course, if the market will bear that price, then I guess Harrah's does well for themselves.

Here's hoping that they only get 30-40 entrants...