STEP Higher - 100k to winner

[Big Limpin']

You know what sickens me the most about this? Its that Party pulls $5,000 in vig for one tourney. Straight profit. Bleeacggghhh!

With respect to collusion, the least they could do is offer a guarentee that they will analyze every hand for signs.

I mean, what, it might take a guy 30 minutes to do this, and he makes $20/hr?....They still pull $4,990 in profit

[Gramps]

The funniest sh-t is that everyone is going there and sitting down, just to check it out (to see if it's really $15,000 or something (me included)). If you open the table, it's just a constant flow of people sitting down and leaving, with no one yet buying in...

[eastbay]

It's really kind of odd that they are offering a $15k step, but haven't offered a regular old $300, $400, or $500 STT yet.

These STEPS must really be a serious cash cow for them to have gone so hog wild on them.

I've been watching all morning, and the STEPh 3's aren't even starting regularly, much less the 4's or 5's. Might be a very long time before a 5 runs.

eastbay

[SuitedSixes]

[ QUOTE ]
wtf is up with a 10% rake until step 5? Taking a 10% rake at a $3,000 buy in is just insulting.

[/ QUOTE ]

It is especially insulting since it costs them the same amount to run as a $5+1. You would think for that amount they would post someone live to help facilitate deals.

[Newt_Buggs]

Its probably because 80% of people on party poker would never even notice. I bet that if you sat down at a 5+1 tourney and asked everyone what % the rake was at a 5 and at a 10 maybe one could tell you the difference off of the top of their head. Normal people just don't think about these things

My roommate could never wrap his head around why in the steps they tack on $3 or $7 or something to one of the last place finishes. I explained that it was because they had $3 or $7 left over in the prizepool that wasn't enough for a buy-in at another step, but he never really got why they didn't just keep it. The sad thing is that he is probably right, most party players would never notice if the steps never even paid out the entire prize pool.

[Degen]

ya dude, check out the math...only 1st moves on, then only 1st of that one.

so 100 entries to get one step 3. thats a lot of phucking rake!!!

This is the biggest rake trap i've ever seen.


Degen

[tomdemaine]

They've learnt from their WSOP just how lucrative infinitely repeating steps can be. If these things anywhere near take off I predict a big bump in Party's profits.

[Ulysses]

[ QUOTE ]
And where is anyone gonna get the bankroll to buy in direct?

[/ QUOTE ]

There's a $4000-8000 B&M game. Where is anyone gonna get the bankroll to buy in to that?

Online $5000 and $10,000 buyin NL games are going all over the place. Where is anyone gonna get the bankroll to buy in to those games?

Your statement is silly.

[Sponger15SB]

Alright so if I quad table the Step higher 5's and say I play 5 per hour on average, and I have a 15% ROI, that would be $11,625 an hour?

Is my math right?

If I play this 40 hours a week 50 weeks a year that is

$20,325,000

Should I quit my job?

[Paul2432]

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The sad thing is that he is probably right, most party players would never notice if the steps never even paid out the entire prize pool.

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Add in a few 2+2ers.


[ QUOTE ]
$500+50 STEP HIGHER 3:
1)Step 4
2-3)Step 3
4-8)Step 2
9)Step 1
10)Out

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3300 + 2 x 550 + 5 x 110 + 33 = 4983

Party is stealthily pocketing $17 on this one.

Paul