Poll: Intested?

[threeonefour]

look at this


Prize Payouts: (based on Sellout of 128 players)
Total money $640,000
Less: 7% admin fee 44,800
Less: 10% Charity (Alberta Gaming Reg's) 59,520
Prize Pool: $535,680
Payout:
Champion (Guaranteed) $250,000
2nd Place (Guaranteed) 125,000
3rd ($25,000 x 2) 50,000
5th ($15,000 x 4) 60,000
9th ($6,335 x 8) 50,680
Total Payout: $535,680




17% juice!!!!!!!

[mattw]

17% entry fee/rake. kinda high. i wouldnt play in a $100+17 SNG or MTT.

Agreed when you write it like that and compare to online tournaments, that would be high. Since this tournament has to have the blessings of the Alberta commision, my guess is that 10% to charity has zero wiggle room. I can inquire about this issue from the event coordinators if you request it and get an offical word about it.

[TStoneMBD]

wait can you explain this to me again? each seat is worth 7.5k before juice and charity and traveling expenses are factored in right? to qualify for the seat i need to enter a $50+0 tournament on some random site and each tournament is guaranteed to give out a 7.5k package? so there is going to be alot of overlay in these tournaments? if so ill play in them, otherwise no. how can you offer overlay tournaments when 10% of the prize purse is going to charity?

either way, if there is going to be overlay in these qualifiers feel free to pm me the site name and ill check it out.

Hi TStoneMBD,

The seat at the tournament is $5k CAD if you pay directly. However, for our online tournaments, we're giving a $7.5K CAD prize package to the event (includes flight, hotel stay, spending cash and tournament entry).

As the poker game designer, I'm not the person pulling together the details on this tournament, but I can certainly get the details you feel are missing into your hands ASAP.

Something to note: The $50 tournament fee is in USD, which works out to be $6400US (or close to $7,333 CAD at today's rates) if all 128 seats per tournament are filled (which of course we'd love, but I'm skeptical it will happen to be honest). Still, we have seats to give out, so as long as we have 16 people in a tournament, it runs and the winner gets the prize package. We're also discussing what to give people in 2nd-8th place as well.

As our site will carry the brand and be named from this very event, I hope that goes a ways towards dispelling fears of a new site with folks. And to be clear, we're letting everyone know that the site's only going to be live until the last seat is given out. At that point, our job is done and we return back to building our true site. If anyone has funds in an account (missed an event, we had to cancel a tournament, etc) on that date, we'll be contacting them and finding out how they'd like to receive their funds back in full.

Thanks for the question and the chance to clarify. Love the avatar, btw. =)

Doug

[TStoneMBD]

when your site runs and these tournaments are going pls pm me a link

I shall. If there's anything else I can answer, don't hesitate to PM me as well.

Since this event has the blessing of Alberta Lottery and Gaming, they want their cut I guess. I'm not the one setting up the Canadian Open Poker, so the facts about the payout structure and fees are coming from the folks running that show.

Having never played a tournament live at a B&M, what's the norm you find for admin fees % outside of the WSOP/ WPT?