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Mohegan Sun - $750K Garuantee
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Ghaleon
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10-10-2008, 07:49 PM
Post subject: Mohegan Sun - $750K Garuantee
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#1 (permalink)
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Straight
Join Date: Sep 2007
Posts: 224
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Mohegan Sun re-opened it's poker room last month, and is looking to hold it's first major event sometime in November.
It's a $1000 buy-in, $750K garauntee. I've heard it advertised on the radio, and they are advertising it as having "Absolutely NO ENTRY FEE". Which means you're entire $1000 buy-in is going into the prize pool
I've looked into this, and just want to warn everyone, that this appears to be a blatant gimmick and this tournament might actually end up having an enormous rake.
Certainly, if you buy in directly for $1000, you're getting a good deal since all of your money is going into the prize pool. And, if there is any overlay, you're actually way ahead of the game.
However, if you play in one of the dozens of satellite qualifiers leading up to this event, make sure you do the math.
Qualifiers for this tournament come in two varieties. 1) is a $100+$20 qualifier where 1 in 15 players advance to the main event. That means that the rake on the qualifier is (($120 x 15) - $1000)/($120 x 15). Or, in other words, for every $1800 in buy-ins, they are awarding 1 $1,000 seat and raking the other $800. $800/$1800 = 44% rake!!!!
The other qualifiers are $300 + $30's where 1 in 5 advance to the main event. So for every $1650 in tournament buy-ins, they are awarding a $1,000 seat. So the rake on these is $650/$1650 or 39%.
Does anyone else think that this is outrageous?? I'm only asking because they are advertising it pretty heavily here and trying to draw people with the "NO ENTRY FEE" gimmick. Do they really think people are that stupid?
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mrhappy333
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Full House
Join Date: Jan 2006
Location: Hartford, CT
Posts: 1,078
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wow, I live in CT and have not heard one advertisement.
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