Party Poker Step Challenge

What do you guys think of it?

It you dont know what it is..
http://www.partypoker.com/news/events/steps-challenge-04.html

Looks like a nice idea. Its real nice you only have to get top 4 for the first 2 then 6 and top 8. top 8 out of 20 is crazy. I dont think it would be too hard to climb the rungs once u get through the first 2.

sounds like a pyramid scheme to me Smile

Just think it would be tough to complete at the higher levels.

But mike, with how easy it is, if you keep plugging away for 11 bucks you'll eventually, at the very least, hit a hot run of cards to clean up on this system. Have you never cashed 5 consecutive SnGs? I think this is a fantastic scheme to make some real fuggin bills.

-'rilla

my concern isn't being able to finish, it is being able to find a $1000 sng ready to fill up. Smile

normally i would say yeah that would take forever but if this gets even a little popular with the 50,000+ players on party skin the scheme itself will bring plenty of players to the 1000 sngs

Well, I just beat step 1.

Gonna try step 2 in a bit.

anyone have a clue what happens if you're not in the top 4 in the $1000SnG? it's not exactly clear about that.

you get nothing.

I guess the real question is - how is Party making out on this?

Since basically no money goes out until the final Sng - if everyone paid to enter, it would be 20K buyins + $1300 direct rake.

Payout is 20K, so that is pretty normal

Now, assuming the opposite - everyone only plays starting from step 1.

To fill a 20 person step 5, run 2 step 4s (approximatley, with the retries and loop backs). To run 2 step 4s, run 3x2 = 6 step 3s (again approximately).
To run 6 step 3s, run 5x6 = 30 step 2s. To run 30 step 2s, run 5x30 = 150 step 1s.

150 step 1s - total entries 3000, total rake for Party $3000, total money in for payout pool = 150x11 = 33,000! Which is a cool $11K pure profit for Party.

So you basically have to place in the top 4 in a 3000 person MTT, in which 1/3rd of the pay in gets raked

Now, maybe if you are a SNG god, and a MTT chump, this is a good play.

Anyone who is opening their own poker site should keep this scheme in mind...

,

I think this is pretty cool. I like the fact that as you move up, if you don't quite make the cut, you get bumped down and can continue to play on a lower rung. Seems like it might be easy to get stuck in the ladder till you can put together a run.

On to step 3. Beat 1st and 2nd on the first try.

hey strangebird,

good luck with the ladder. I see you are from chicago, are you from the city or the 'burbs? I live in Aurora and Boondock is in Indiana. Also, whats your age?

Thanks!!!

I live Just a few miles west of Chicago, in River Grove. I am 30 years old.

Aurora, huh. I have spent many, many hours at the hollywood casino.

One thing to keep in mind is that a lot of the 200+15 sharks will buy in directly to the 4th or 5th step. That will make it very difficult to cash in this scheme.

Oh yeah and i forgot to tell you he has his own custom Poker Chips so u cant smuggle em in and also had his own world series of poker series complete with all games like omaha 7 card stud limit hold em and NL complete with his own custom world series of poker championship bracelets which he paid for. The dude is crazy I'm tellin you.

Hey Strangebird, wondered how you were making out with the steps challenge. Any further up the ladder?

Party is promoting this in their emails to members, so was wondering if there may be an influx of players over the holidays to make this a good bet. Anyone else had a go at this or have any further opinions??

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