WPT/WSOP Share Satellite
The
Oshawa Poker Series
presents
Oshawa Poker Series
presents
WPT/WSOP Share Satellite
Saturday, October 19, 2013
Oshawa Community Health Centre
115 Grassmere Avenue
10:15am Registration / 11:00am Players Seated
$65 Entry Fee / $10 Share – optional
A small food donation is also required for this event!!
Oshawa Community Health Centre
115 Grassmere Avenue
10:15am Registration / 11:00am Players Seated
$65 Entry Fee / $10 Share – optional
A small food donation is also required for this event!!
Dates of the “Main Events”
WPT – Playground Poker Club, Montreal, Quebec - $3,850
Friday-Sunday, November 29-December 1 – Thursday, December 5, 2013
WSOP - Casino Lac-Leamy, Gatineau, Quebec - $1,675
Tuesday/Wednesday, November 19/20 – Thursday, November 21, 2013 (will likely add another day)
Rules
This event is a freeze-out, there are NO re-buys and NO add-ons. Tables will play with a maximum of 8 players per table, unless more seats are needed. Players will deal for themselves, unless players agree to allow a particular individual to deal for the table. The final table will begin with 9 players, and will have a dedicated dealer.
This event will be a “winner-take-all” event. The winner chooses which tournament they wish to enter, subject to the amount of money available. If, after the winner has chosen their event, there is enough money left over (not counting the $10 share money), second place may choose an event, subject to the remaining money available.
Because this is a “winner-take-all” event, $5 of the $65 entry fee will be put towards a bounty. This will at least give everyone a chance to get some money back, even in a losing cause.
The winner(s) agree to split any WPT/WSOP winnings 50/50. They will keep 50% of any money they win in the events, and the other 50% will be split among those who purchased the $10 “shares,” including the winner(s) if they purchased one. ALL players will be made to sign waivers indicating that they agree to split the money as indicated above.
The money from the $10 “shares” will also be “winner(s)-take-all”, with the money to be divided based on the entry fees of the tournaments selected by the winner(s). If only one winner, he/she will get all the “share” money.
Unlike other OPS events, NO money from this game will be put aside for food or drinks. The usual assortment of pop, water and Power Quencher will be available for sale at a very reasonable price. We will decide as a group whether to order food later in the game.
This game will use the WPT blind structure, with the only difference being 15 minute blinds. This will make for a 6-8 hour game, depending on the number of players. (Usually account for an hour for every 10 players.) The tournament director reserves the right to alter the blind structure to ensure the game finishes within a reasonable time frame.
There will be NO scheduled “breaks”. However, we will stop after Level 8 (120 minutes, approximately 1pm), after Level 14 (~2:45pm), Level 17 (~3:45pm) and Level 24 (~5:30pm) in order to chip up. However, if the remaining participants wish to order food at any of the levels above, a longer break will be provided.
Late players will still pay the full $65 entry fee, but will be deducted chips according to the “patience factor calculator” based on the level with which they show up, rounded up to the nearest chip quantity.
Comments
Oshawa Poker Series
presents
WPT/WSOP Share Satellite
Saturday, October 19, 2013
Oshawa Community Health Centre
115 Grassmere Avenue
10:15am Registration / 11:00am Players Seated
$65 Entry Fee / $10 Share – optional
A small food donation is also required for this event!!
Dates of the “Main Events”
WPT – Playground Poker Club, Montreal, Quebec - $3,850
Friday-Sunday, November 29-December 1 – Thursday, December 5, 2013
WSOP - Casino Lac-Leamy, Gatineau, Quebec - $1,675
Tuesday/Wednesday, November 19/20 – Thursday, November 21, 2013 (will likely add another day)
Rules
This event is a freeze-out, there are NO re-buys and NO add-ons. Tables will play with a maximum of 8 players per table, unless more seats are needed. Players will deal for themselves, unless players agree to allow a particular individual to deal for the table. The final table will begin with 9 players, and will have a dedicated dealer.
This event will be a “winner-take-all” event. The winner chooses which tournament they wish to enter, subject to the amount of money available. If, after the winner has chosen their event, there is enough money left over (not counting the $10 share money), second place may choose an event, subject to the remaining money available.
Because this is a “winner-take-all” event, $5 of the $65 entry fee will be put towards a bounty. This will at least give everyone a chance to get some money back, even in a losing cause.
The winner(s) agree to split any WPT/WSOP winnings 50/50. They will keep 50% of any money they win in the events, and the other 50% will be split among those who purchased the $10 “shares,” including the winner(s) if they purchased one. ALL players will be made to sign waivers indicating that they agree to split the money as indicated above.
The money from the $10 “shares” will also be “winner(s)-take-all”, with the money to be divided based on the entry fees of the tournaments selected by the winner(s). If only one winner, he/she will get all the “share” money.
Unlike other OPS events, NO money from this game will be put aside for food or drinks. The usual assortment of pop, water and Power Quencher will be available for sale at a very reasonable price. We will decide as a group whether to order food later in the game.
This game will use the WPT blind structure, with the only difference being 15 minute blinds. This will make for a 6-8 hour game, depending on the number of players. (Usually account for an hour for every 10 players.) The tournament director reserves the right to alter the blind structure to ensure the game finishes within a reasonable time frame.
There will be NO scheduled “breaks”. However, we will stop after Level 8 (120 minutes, approximately 1pm), after Level 14 (~2:45pm), Level 17 (~3:45pm) and Level 24 (~5:30pm) in order to chip up. However, if the remaining participants wish to order food at any of the levels above, a longer break will be provided.
Late players will still pay the full $65 entry fee, but will be deducted chips according to the “patience factor calculator” based on the level with which they show up, rounded up to the nearest chip quantity.
Assuming you can get enough players that are willing to share 50% of any winnings, I would think that all of the hotel, travel, food and other expenses of the satellite winner should be included in the prize, e.g., $1,950 prize or more needed for every winner.
I don't understand this part. Please give an example.
With 15 minute levels I get the feeling they havent set aside very much time for this.
There will be no scheduled breaks except for the following scheduled breaks.
Blinds will be 15 minutes in length unless the TD decides they're not.
This is a winner take all unless we decide to pay second place.
There will be a maximum of 8 players per table, unless we decide to have 9, like at the FT.
Did I miss any?
Look up any large tournament - the TD always has the option of changing the blind structure to accommodate the time frame for the tournament.
The winner can choose whatever tournament they which, up to the amount of money available. If there is enough money left over for a second player to enter an event, then we will send a second player. Pretty straight forward!
All of our events lay with 8 player at a table. Every once in a while, we get too many players for the number of tables, and thus have to seat 9 at a table, sometimes 10. I didn't think it was that confusing!
But, ya, the "breaks" part wasn't well written!
For your $65, $60 goes to the Satellite, and a $5 bounty. Using your example above, with 30 players, there will be $1800 available. The winner will get to pick any event from either the WPT or WSOP up to $1800. There would also be $150 in bounties available. Now, lets assume our winner goes to the WSOP, and wins $3000. He/she gets to keep 50% of this ($1500). Since only 15 of the 30 players purchased "shares", those 15 players would then split the other 50% ($1500), and thus each would get $100.
The $150 from the 15 players who bought "shares" would go to the winner.
For example, here are some additional serious questions:
1. So 100% of the share money goes to the winner, but is not included in the buy-in money, i.e. travel/pocket money? If there is a second seat awarded that person gets none of the share money?
2. What happens if you don't get the 26 players you need to cover the WSOP seat? Do you cancel the satellite, let winner choose a different tournament, etc.?
3. If the winner is someone who didn't buy a share do they still have to share the prize money?
4. If the winner did buy a share, do they get the appropriate % of the share money as well?
Let's assume we have $2000 to divide up. Suppose the winner picks a $1600 event. Then second place picks a $400 event. Then first place will get 80% ($1600 0f the $2000 is 80%) of the share money, and second will get 20%.
If I don't get the 26 players needed for the WSOP seat, then the winner will pick any event from either schedule up to the amount of money that is available. I am expecting in the 50-100 players for this event.
The winner will have to split any WSOP/WPT winnings 50/50, regardless of whether or not they purchase a share. All players will be made to sign a waiver when they check in saying they agree to do so.
If the winner purchased a share, and wins money at his/her WSOP/WPT event, they will split the money 50/50 as above, and then they will also get their percentage of the share money.