2010 WSOP Satellite Rake Free (in Bolton)

SteveKerr · Sep 06,2009, 10:24 AM

Post here, PM me or sign up here 2010 WSOP Satellite #1 (in Bolton) - Orangeville Poker Tour (OPT) (Orangeville, ON) - Meetup.com
to reserve your seat

Saturday September 19, 2009 at 7:30pm

Here is your chance to go to The 2010 World Series of Poker in Las Vegas for $150 US Dollars

You have until 1pm on the day of the tournament to reserve your seat. If we do not have enough players at this time the tournament will be CANCELLED.

We are also going to do this once a month for a total of 10 tournaments. That way The Orangeville Poker Tour will be sending 10 players to The 2010 WSOP and if you attend all 10 then you will also have a part of 10 players.

Rules for this tournament; The usual rules that we have been following for all Orangeville Poker Tour Events in addition to the following;

1. Tournament is in US Dollars since you are winning your buyin into a US Tournament.

2. Tournament will only happen if we get 20 or more players.

3. Payout structure 1st - $2500, ($1500 will be held back for the tournament buy-in) the rest of the payout structure will be dictated by how many players come out, with 20 players 2nd place will get $500. There was 9 no limit events at the 2009 WSOP. Once the schedule is released for the 2010 WSOP, winners will be emailed and get to choose which $1500 event they want to play. Then we will pre-register each winner for the event that they choose. The WSOP usually runs from the end of May to the beginning of July.

4. This is an equity tournament. Any winnings (only that after 30% tax is taken. $5000 and up gets taxed) from the WSOP tournament will be divided amongst the players that were in that particular satellite tournament. 75% to the winning player in the WSOP, the remaining 25% divided evenly amongst the players from that tourney.

5. All players will sign a contract at the beginning of the satellite tourney in attendance agreeing to these terms.

Tournament starts at 7:30pm; doors open at 7:00pm

Starting Chips: 4500

Buy-In: $150 USD

With this structure this tournament will have a 6 out of 6 Skill Level and a Patience Factor of 11.93

Prize Pool: (18 players)
1st - $1500 Buy In to your choice of $1500 Event at The 2010 WSOP + $1000 to use towards flight and accomadations
2nd - $200
Prize Pool: (19 players)
1st - $1500 Buy In to your choice of $1500 Event at The 2010 WSOP + $1000 to use towards flight and accomadations
2nd - $350
Prize Pool: (20 players)
1st - $1500 Buy In to your choice of $1500 Event at The 2010 WSOP + $1000 to use towards flight and accomadations
2nd - $500
(21 players)
1st - $1500 Buy In to you choice of $1500 Event at The 2010 WSOP + $1000 to use towards flight and accomadations
2nd - $500
3rd - $150
(22 players)
1st - $1500 Buy In to you choice of $1500 Event at The 2010 WSOP + $1000 to use towards flight and accomadations
2nd - $550
3rd - $250
(23 players)
1st - $1500 Buy In to you choice of $1500 Event at The 2010 WSOP + $1000 to use towards flight and accomadations
2nd - $650
3rd - $300
(24 players)
1st - $1500 Buy In to you choice of $1500 Event at The 2010 WSOP + $1000 to use towards flight and accomadations
2nd - $750
3rd - $350

Blind Levels: 30 minutes and follows WSOP format for intermediate tournaments with each level and starting chip stacks

Level 1 = $25 - $50
Level 2 = $50 - $100
Level 3 = $75 - $150
Level 4 = $100 - $200
10 mins Break
Level 5 = $100 - $200; 25ante
Level 6 = $150 - $300; 25ante
Level 7 = $200 - $400; 50ante
Level 8 = $300 - $600; 75ante
10 mins Break - CHIP RACE
Level 9 = $400 - $800; 100ante
Level 10 = $500 - $1000; 100ante
Level 11 = $600 - $1200; 100ante
10 mins Break
and so on

Usually a 1-2 no limit cash game starts once enough players are eliminated from the Tournament

As Always this is BYOB, I will supply some snacks and some pop.

BlondeFish · Sep 06,2009, 09:13 PM

Note that the WSOP Commissioner recently said that they plan to have more $1,000 "Stimulus" events next year. They haven't decided if the $40K bankroll-busting event will return.

I have gone over to the "Dark Side" recently and play mostly online now, but if 19 forumers miraculously commit to this no-brainer rake-free satellite and you are short just one player on September 19, then I would be willing to come out from the Dark $ide and be the 20th player.

Quote:

Originally Posted by SteveKerr

2. Tournament will only happen if we get 20 or more players.

westside8 · Sep 07,2009, 10:50 PM

I won't lie..the biggerst deterrent for me personally to come out to these tourneys is still the equity factor. But with that said, all the best to the OPT in getting off the ground.

AK-Frosty · Sep 08,2009, 07:11 AM

Quote:

Originally Posted by westside8

I won't lie..the biggerst deterrent for me personally to come out to these tourneys is still the equity factor. But with that said, all the best to the OPT in getting off the ground.

I would also come out and possibly bring 2 or 3 more except for the equity factor. If you decide to change this please post and I will get back to you.

SteveKerr · Sep 08,2009, 07:25 AM

Quote:

Originally Posted by AK-Frosty

I would also come out and possibly bring 2 or 3 more except for the equity factor. If you decide to change this please post and I will get back to you.

I am always open for suggestions to contemplate. So fire away...

AK-Frosty · Sep 08,2009, 07:46 AM

Hey Steve I know it is easy for people to come on here and complain, however that is not my intent because anyone who takes the time to do this should be complimented. However if it would be easier to get the 20 people without having the equity factor then maybe you could consider that option. I myself would use the money to help bankroll a trip to the WSOP, but some of my buddies would use the money for different reasons (trip) and therefore would not play in an equity tournament. Also even though upfront this is a rake free tournament 50% split seems pretty steep to me if you are good/lucky enough to cash at the WSOP.

SteveKerr · Sep 08,2009, 12:42 PM

ok so I have changed the equity to only 25% split amongst the other players. and you only split what you get after 30% is taken off, if you happen to cash for $5000 or more.

The reason for equity is that poker players are always selling stakes in themselves, and this is basically everyone that plays is buying a stack on the winning player.

Hopefully we can get 20 players that want to experience The WSOP at a fraction of the cost.

also we have 6 confirmed players so far with just under 2 weeks before this happens

SteveKerr · Sep 12,2009, 10:15 AM

Half way there.

10 confirmed players so far

BBC Z · Sep 12,2009, 11:19 AM

lol @ you guys thinking that giving up 25% if you should be lucky enough to win is a big deterrent to entry. You really think any of you are worth more than fair share? Anyone I've seen selling pieces always discounts it in some way.

AK-Frosty · Sep 12,2009, 01:36 PM

Quote:

Originally Posted by BBC Z

lol @ you guys thinking that giving up 25% if you should be lucky enough to win is a big deterrent to entry. You really think any of you are worth more than fair share? Anyone I've seen selling pieces always discounts it in some way.

I don't think 25% is a big deal, however I did think 50% was a little steep. Also only stated I could bring a few more players who would be willing to play, but aren't interested in going to WSOP therefore the equity factor doesn't work for them. If it would of helped to bring the total players to 20 it's an option worth considering. Also Steve let you know by midweek if I or any buddies of mine are available if that is okay with you.

SteveKerr · Sep 14,2009, 07:14 AM

midweek is fine frosty.

up to 15 confirmed players, only need 5 more players to make this happen this Saturday

SteveKerr · Sep 14,2009, 09:14 PM

up to 16 players now

Muddguts · Sep 15,2009, 02:49 AM

what is the back up plan if 1 or more don't show up at game time?

SteveKerr · Sep 15,2009, 11:54 AM

if we need a back up plan then all players that show will discuss what we all want to do.

we do have 17 players confirmed now, so that gives a prize pool of $2550.00

SteveKerr · Sep 17,2009, 09:41 AM

I have talked with crazykoby whos house this will be at, and we have decide to run this satellite with a min. of 18 players instead of 20 players. The prize pool for 18 and 19 players is now posted in the 1st post.

We currently have 18 players and more are welcome if you wish to participate