This season there will be TWO $10,000 Main Event seats awarded, but it will be setup in such a way that everyone will have a chance for at least one of those Main Event seats even until the last tournament of the season. In addition to that, every tournament a $1000 or $1500 WSOP seat will be awarded. This places more value immediately in every individual tournament, a structure we have never had implemented before until now. See details below for more info on that.
Quick Season 6 final update - Congrats to all of our 2016 WSOP reps. It was our most successful season yet with the addition of a Main Event seat as well as awarding 7 $1500 WSOP seats. This Summer, it was George Watson who cashed for our group and made a deep run in the Millionaire Maker event. George placed 559th out of 7190 entries for a cash out of $3200. This makes the 3rd time in the last 4 WSOP trips where we had a member make a deep run for our poker group share efforts. Everyone who was vested has received an email regarding their share. Shares can be paid out anytime at your request, or you can wait until Event #1 if you'd like.
Many in our group had success outside of the league as well in Vegas. Ed Locke cashed in the Main Event! He ended up in 914th place out of 6737 entries, good for $15,000. Here were the other notable cashes:
Jacob Beck - $7800 Aria (Event #1 Poker Classic)
Tom Elliott - $6600 Golden Nugget (Event #45 - Seniors)
Fred Rabinowitz - $4900 Golden Nugget - (Event #45 - Seniors)
Jay Johnson - $2400 Golden Nugget (Event #16 - HORSE)
George Watson $1300 - (Event #23 - Goliath Stack)
OVERALL TOTAL = $41,200
Very exciting times for our expanding poker group and 2017 will be even bigger.
Summary
•$200 buy-in ($5 towards the host, $4 towards the dealers, $1 toward poker budget). A set $2,300/Playoff Drop for each tournament = $ 23,000 End of season Championship Pool. The rest of the nightly entry funds is paid out each tournament.
•12 regular season tournaments - This season the # of tournaments will be reduced to 12. We expect an average of 4 tables per event, which limits some of our hosting options. This will also allow for easier scheduling and more weekends off than prior seasons. Lastly having only 10 events will offset the higher buy in and keep the total cost over the course of the season the same as season 6 that had lower buy-in costs but also had more events (16 total).
The winner of EACH regular season tournament will win a seat at the 2017 World Series of Poker, ranging from $1000 to $1500 (depending on # of entries), cash, AND get a free roll to the Championship Event at the end of season 7, where our 2nd Main Event representative will be determined.
Season 7 Prizes
Regular season
•1 $10,000 Main Event seat to our top point earner in the regular season.
•12 $1000 to $1500 WSOP Seats throughout the regular season (1 per tournament to the 1st place winner of each event). Ideally all $1500 WSOP seats.
Championship Event
•1 $10,000 Main Event seat to the 1st place.
•2 $1500 WSOP seats to 2nd and 3rd place.
Value of New Format
Each regular season tournament is essentially independent from each other, in the sense that it is a WIN and IN scenario at every event since a win is worth an immediate WSOP seat, but also guaranteed entry into the Championship Event, where a Main Event seat will be awarded to the winner. Therefore players can come aboard anytime during the season with an opportunity to represent the poker group at the 2017 WSOP. This is a great setup for those who are unable to commit to playing every month. Meanwhile, players who play more often have a better shot at the guaranteed Main Event seat, or winning an event, or getting one of the 8 Wild Card Spots to have a chance at winning the other Main Event seat. The wild card spots still keep non winners a reason to be regulars the entire way and qualify for the Championship Final Event based on total points. So regular attendance is still important.
Points System
Your top 7 scores on the season will be accounted for in your total points. Making it to the final table is the only way to earn points.
Final Table Bonus:
1st - 50
2nd - 40
3rd - 30
4th - 25
5th - 20
6th - 15
7th - 12
8th - 9
9th - 7
10th - 5
Nightly Tournament/WSOP Fund Awards
•At 18-29 entries, the winner earns $1,000 towards any event.
•At 30-40 entries, the winner earns $1,500 towards any event.
*Two events (#3 and #6) allow for 1 re-entry, so the Tournament/WSOP fund for the night will be adjusted based on final total # of entries)
Breakdown of an Event Payout
This is based off of 32 entries:
Total after host/dealer = $6080
Championship Drop = $2300
1st place = $1500 WSOP Seat
Remain = $2280 Cash
1st - $1500 + $340 (15% of $2280) + Qualifier into the Championship Event
2nd - $820 (42% of $1940)
3rd - $520 (27% of $1940)
4th - $380 (19% of $1940)
5th - $220 (12% of $1940)
*If we exceed 32 entries then top 6 will be paid out.
Winners/Group Representatives
Those who are fortunate enough to earn tournament funds will have a tournament fund bank that may be used in the 2017 WSOP, or any 2017 Circuit event or Series in Vegas where results are tracked by a poker database.
The group share is a 50/50 split after applicable taxes.
There may be instances where a rep pays a difference to enter an event which will increase their equity share in that circumstance. To submit a request for an event that involves the group share, it must be a $200,000 guarantee minimum, or $500 buy-in after the tournament drop. You must be clear on the date and time of the event. Tournament receipt must be submitted as well, prior to the start of the event.
*Tournament entries may not be submitted until after Saturday, April 29th, 2017 when all the group shares have been finalized.
REGULAR EVENTS
•Main Event - 4pm start time w/50,000 start stack. 20 minute levels.
•Monster Deepstack - 4pm start time w/15,000 start stack. 25 minute levels.
•Millionaire Maker/Six Max - 4pm start time w/7,500 start stack. 30 minute levels. 1 Re-entry allowed.
*All final tables 30 minute levels.
*Blind levels emulate the exact WSOP structure. We encourage all WSOP reps to enter the Millionaire Maker or Monster Stack to represent the group, but you are free to enter any event you'd like.
DAY 2 EVENTS (Event #8 Millionaire Maker/Event #9 Monster Stack)
•4x starting stack which is 30k for the Millionaire Maker/$1500 Events, and 60k for the Monster Stack.
•40 minute levels for the duration of the tournament.
•Structure emulates day 2 blind levels of each event.
DAY 3+ EVENT (Event #10 Main Event)
•200k starting stack with blinds at 1000-2000 w/300 ante.
•40 minute levels for the duration of the tournament.
This is a great way to get exposure out to our league members on what it's like to make a deep run in the WSOP. The blind lengths can be increased due to the more aggressive antes at this stage of tournaments. The starting stacks won't be as deep but the longer levels will offset that. Very exciting format idea. Will re-evaluate if 4x starting stack and longer levels will for sure expect to end around the same time as regular events.
Season 7 Championship Event (Capped at 20 qualifiers)
There are two ways to qualify:
•Be one of the players who win one of the 12 regular season tournaments.
•Be a top 8 points earner that did not get a tournament win.
1pm start time w/50,000 start stack. 40 minutes levels until the final table, where it will be increased to 50 minute levels.
*Average BB at final table has to stay above 30 BBs in order for blinds to be increased, given that it's for a $10,000 Main Event Seat.
The winner get a seat into THE MAIN EVENT! 2nd and 3rd earn $1500 WSOP Seats!
*Note - Winning more than 1 tournament not only earns you potentially twice as many guaranteed tournament funds + cash, you will also effectively eliminate an additional player from qualifying in the Main Event Playoff by default.
Example: Two 2 time winners in season 7 means that there were only 8 individual winners to qualify for the Main Event Playoff. So the MOST entries the Main Event Playoff could have as it stands now is at 16 qualifiers (8 individual winners + 8 Wild Card). Repeat winners will also earn additional group equity shares (See below).
*Final Note - The only player not eligible for this event is our 1st place winner who already will have earned a $10,000 Main Event seat. If the Main Event winner somehow finished top in points without getting a win, then the wild card spots will remain at 8.
If the Main Event winner also earned a win therefore eliminating a potential championship entry, the wild card will be increased to top 9.
Agents of Poker Shares/Vesting
As always, this is a 50/50 group share. Given that the nightly Tournament/WSOP drop is set at $2300, the only way to account for group equity is in terms of shares. One possible way to accumulate or earn shares is as follows:
•Minimum 4 tournaments entered = 4 shares
•Each additional tournament entered after your 4th = 1 share
•$1000 - $1500 WSOP seat winner = 2 shares
Entering all 10 events is worth 10 shares. It will require a minimum 4 events, OR a 1st place win to be vested with the 2017 WSOP reps. Anyone who wins a WSOP seat will be automatically vested with the other WSOP reps.
To figure how much money each member receives when a player cashes, simply divide the number of shares a member has into the number of total shares outstanding, then multiply that by the amount of cash going back to the Club. All dollar amounts will be rounded down to the nearest dollar.
Hosting An Event
We have a tradition of rotating hosting duties over the last 6 seasons. The locations have ranged from Moreno Valley (RIP Jacob I'm moving), Riverside (Kevin D, Gregg, Dave, Spencer), Redlands (Ed, Fred, Jay), Yucaipa (John L, Kevin M, George, Tom), Oak Glen (Dave E) and Beaumont (Mikey).
If you'd like to pick a date on the schedule to host, please inform Ed or myself and we can discuss what date to lock you in for. This season we need to be sure that any volunteers are able to comfortably fit 4 poker tables on their premises.
We ask that hosts provide food and water as compensation for the host tip ($4 per entry). These tournaments go on for the duration of the night, so it's just easier doing it this way. Some hosts have embraced this concept with home made meals. That is not a requirement. Pizza is always an easy option. I will always update hosts the week of their tournament on the # of anticipated entries, so that they can plan accordingly. As always, it's BYOB.
Jacob Beck - jkbeck21@gmail.com (951.756.5253)
Ed Locke - harknights@aol.com (909.226.0562)
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