Following up on last week’s news,so far the only closure due to the actions by the city (that I’m aware of) has been at The Game. I’m updating the #PDXPokerTroubles page and posting on Twitter as I get info.
Tulalip Poker Pow Wow
The schedule for the Pow Wow is available now and it’s longer than ever, with over two weeks of tournaments starting 14 January. The first week features Limit Omaha 8, PLO, and HORSE, with PLO8 in the second week. There’s a $50K Guarantee NLHE event in the middle of the series, and it wraps up with a $100K Guarantee NLHE Main Event with entry days 26-28 January and Day 2 on 30 January. Buyins range from $120 to $520 (including dealer appreciation) for the main. No structures available online so far as I can tell; you can view the rest of their January calendar here.
I’ve been advocating for someone in Portland to run Survivor tournaments for a long, long time, and Brian Sarchi at Portland Meadows is finally doing it this Saturday at noon.
In short, a Survivor tournament is like a satellite.Players play to a pre-determined point, at which the prize pool is divided up equally.
There are some variations, but in many cases 10% of the field gets paid a pre-determined amount, and any leftover goes to the 10% + 1 player. So if you have a tournament with 83 players and everyone’s paid $100 (and a prize pool of $8,300), the 10% (8 players) get $1,000 and a ninth player gets $300. Since casinos take out fees from the entry money, the payout is less than 10 times the entry; a $300 Survivor tournament at the Venetian pays $2,500. The advantage to this, of course, is that if you make the money, you’re usually getting somewhere between 2nd and 3rd place money,
There’s a little bit of a twist to the Meadows tournament, in that there’s an addon and there’s no specified payout amount. Because Portland rooms don’t take anything out of the prize pool, everyone who gets into the money is going to make at least $1,000, but that amount is going to vary based on the number of addons, And it’s not specified what’s going to happen if “exactly 10%” falls somewhere between, say, 9 and 10 players.
This wouldn’t be an issue with a pre-determined payout, because then the number of payouts would simply increase as the prize pool increases, and the remainder payout for the +1 player is never less than a single buyin. With the the addons, and no pre-determined payout, the remainder is never going to be greater than $9. It’ll be interesting to see how this works out.
Casinos have been experimenting with the format. I’ve seen Super Survivor tournaments with two tiers of payouts, with the players making the top 10% getting a smaller payout and those getting to the top 5% getting a bump. At the LAPC (see below) the Commerce is running a version where the chip leader at 25%, 20%, and 15% gets paid immediately and their chips are removed from play.
If you have an ITM (in the money) of better than 10% in tournaments, you can make a killing in Survivors. No, you don’t make the huge score of a first-place finish, but you never min-cash when you make the money.
Only a Day Away
- The Venetian New Year’s Extravaganza runs through 8 January. The big event this weekend starts Sunday, 1 January. It’s a $400 buyin $100K Guarantee NLHE tournament. Last year, the $400 tournament over New Year’s weekend had a $150K Guarantee and 663 entries with a final prize pool of $225K. You can get updates on current tournaments at their blog.
- Eugene’s Full House Poker has a Heads Up-Championship coming up, on 7 & 8 January. It’s a bracket-style elimination competition where you can buy 1 or more spots on the bottom bracket, at reduced rates. Seating is limited, so contact them for details and availability.
- The Heartland Poker Tour East Chicago series starts 12 January with a $300 buyin $100K Guaranteed tournament. There are three entry days, with Day 2 on 15 January. The first of three Main Event flights in on 19 January. It’s still possible to get flight/room packages at the hosting casino for either tournament for less than $600 total. Last year’s opening $100K had a prize pool of $298K, and the $1,650 Main Event prize pool was over $900K, with a top prize of $211K.
- Commerce Casino‘s LA Poker Classic begins a seven-week run on 13 January. There are a total of 60 events, with eleven of them having guarantees of $100K or more, plus the $10K buyin WPT Championship that caps the series. Structures have been posted for about half of the events so far. Of particular note for Portland players is the $570 entry Big O tournament on Groundhog Day (2 February).