SIGN UP LOG IN
 

Venetian Lucky Shot Poker: Lose-lose situation

Published by

October 27, 2019 9:10 pm

Venetian Lucky Shot Poker: Lose-lose situation

The scandal surrounding the LuckyShotPoker tournament format at the Venetian Resort in Las Vegas had upset the poker community.

The Venetian Pokerroom, which calls itself the “Best Pokerroom in Las Vegas”, had offered a guarantee of $150,000 for the Main Event Prizepool, but at the same time set it as a MAXIMUM payout – Hochgepokert reported. Had many players visited the MTT with 6 start flights, and 8 levels of Unlimited Rebuys, a rake above 50% would have been possible.

The other way around: If many players had followed the boycott calls, e.g. Doug Polk, the Venetian would have had to pay for an overlay out of his own pocket. To make a long story short: Neither the boycott nor the horrendous rake occurred.

Between 600 and 750 entries, there is a lose-lose situation.

In advance players like Jeff Boski on his Twitter account @ICuRaRook pointed out the consequences of different starter field greetings. In plain language, this means:

Players attending       Outcome

600 Entries                                   break-even (no Overlay, no Rake)
750 Entries                                    normal $200+$50 rake
900 Entries                                   33% rake
1.200 Entries                                50% rake

At the end of the last start day 1f, the actual number of Total Entries is fixed. With exactly 645 entries at $250 each, both the poker community and the organizers of the Venetian have done themselves a disservice.

Total Entries ($250 each): 645
Total Amount collected: $161,250
Prize pool: $150,000
Rake/Fee: $11,250
Rake/Fee %: 7.67 %
Real buy-in: $232.56+$17.44

The poker community has failed (just as Mike “Timex” MacDonald suspected in his tweet) to consolidate and make a mark against such anti-player tournament experiments. On the other hand, the Venetian officials shot themselves in the leg for offering a tournament with less than 10% rake, not to mention the negative press. The buy-ins of the 645 entries (250 each) exceeded the guarantee so that a total of $11,250 went into the Venetian’s pockets for this event. The participants came de facto thus into the benefit of a reduced $233+$17 tournament that the Venetian for such an action however at all, even if below average, cashed in, is an imposition for all genuine Pokerspieler.

Conrad Sanchez, Moshe Asulin and Rafael Gonzalez lead

By the way, they also played… On day 2 there are still 129 players in the race, who will end up in the (guaranteed) prize money from rank 72. The biggest stacks after the end of the starting days were Conrad Sanchez (), Moshe Asulin () and Rafael Gonzalez (). With not quite usual blinds of 1.500/2.500-2.500, the second and last matchday will start on Sunday. The winner will receive $30,750.

Lucky Shot Event #1 (NLH)

Buy-in: $250
Players: 645
Prize Pool: $150,000
Players advancing: 129/645
Places Paid: 72
1st Place: $30,750

It only remains to hope that the mass of poker players will use their influence in the future and stand together in such actions, instead of undermining such actions on the hunt for the last ounce of value.

 

More News

Coronavirus: Can the Premier League restart on June 8th?

Coronavirus: Can the Premier League restart on June 8th?

The Times reported on that English football authorities are considering resuming the Premier League 2019/20 season on June 8th. All…

Jürgen Klopp and FC Liverpool continue to win in the Premier League

Jürgen Klopp and FC Liverpool continue to win in the Premier League

Liverpool FC also wins their sixth consecutive Premier League match of the season. The English soccer record champion Manchester United…

E-Sport:

E-Sport: "World Cup title is the big goal"

Dylan "DullenMIKE" Neuhausen talks about the BFV eClub Championship and the FeWC in an interview. DYLAN, TOGETHER WITH BENEDIKT "BENECR7X"…

E-Sport News: Virtus.pro takes over AVANGAR

E-Sport News: Virtus.pro takes over AVANGAR

The Russian eSports organization Virtus.pro sacks its Polish CS:GO team and hires CIS team from AVANGAR. For the payment of…

League of Legends: US sanctions prevent access in Iran and Syria

League of Legends: US sanctions prevent access in Iran and Syria

The increasing tensions in the Middle East between Iran and the USA are now also having a surprising impact on…

Binishi can win the SPF King's Championship!

Binishi can win the SPF King's Championship!

Also at the end of the Spanish Poker Festival at the King's Resort, Sunday evening at the €100+€15 SPF King's…

Crypto cheater gambles away $1.5 million in casinos in Las Vegas

Crypto cheater gambles away $1.5 million in casinos in Las Vegas

Within only 18 months, two men from the US state of Arizona with a pyramid system are said to have…

Misfits and Fnatic with changes in the LoL king class LEC

Misfits and Fnatic with changes in the LoL king class LEC

Several teams start with strong changes in the 5th week of the European League of Legends League LEC. Misfits Gaming…

League of Legends:

League of Legends: "Huni's" account is growing

The former Fnatic and SKT top planner Seung-Hoon "Huni" Heo is facing a spectacular contract extension at Dignitas. The contract…

LoL: The Groups of the Worlds 2019

LoL: The Groups of the Worlds 2019

The Play-in phase is over, and four more teams are joining the set organisations. In a heartbeat final, the Unicorns…

WSOP 2019: Gavin Smith Memorial Poker Tournament

WSOP 2019: Gavin Smith Memorial Poker Tournament

The World Series of Poker 2019 kicks off on May 29th with the Gavin Smith Memorial Tournament kicking off right…

Prize pool of the WoW tournaments comes entirely from the fans

Prize pool of the WoW tournaments comes entirely from the fans

The eSports fans are angry at Blizzard because the prize pool in World of Warcraft comes this time completely from…

Powerball cracked: three-quarters of a billion dollars paid out
Powerball cracked: three-quarters of a billion dollars paid out

The Powerball lottery in the USA is known for its high winnings. But one player has recently succeeded in making…

When Taison sees red, he's not the only one crying
When Taison sees red, he's not the only one crying

At the top game in Ukraine, there is a racism scandal. The victim, the Brazilian Taison, sees red. He is…

Interview with Team Liquid Co-CEO
Interview with Team Liquid Co-CEO

Team Liquid had a strong start into the MSI 2019 but then dropped a bit again. Co-CEO Steve Arhancet talks…

Lotto Empties 28 Million Jackpot Guaranteed
Lotto Empties 28 Million Jackpot Guaranteed

If you are a gambler, you may experience an exciting evening today: The jackpot is not only a sum of…

Arsenal fails in Ligacup at Liverpool
Arsenal fails in Ligacup at Liverpool

For Arsenal, it sets off the next damper without the Swiss granite Xhaka. In the round of sixteen of the…

Concern adviser
Concern adviser "voice of the players" fights against gambling addiction

Never again will Karl W. experience such mental torments as he suffered until the final stop of the game in…

$1 million casino scam: Baccarat Dealer serving a prison sentence
$1 million casino scam: Baccarat Dealer serving a prison sentence

A Baccarat dealer who worked at the MGM National Harbor Casino in Maryland, USA, was sentenced to 18 months in…

The WSOP Global Casino Championship in August at Harrah's Cherokee!
The WSOP Global Casino Championship in August at Harrah's Cherokee!

World Series of Poker officials have now announced the date for the 2019/2020 WSOP Global Casino Championship. From August 11th-13th,…

Misfits and Fnatic with changes in the LoL king class LEC
Misfits and Fnatic with changes in the LoL king class LEC

Several teams start with strong changes in the 5th week of the European League of Legends League LEC. Misfits Gaming…

GTA 5: ROCKSTAR ANNOUNCES CASINO FOR GTA ONLINE
GTA 5: ROCKSTAR ANNOUNCES CASINO FOR GTA ONLINE

Rockstar Games is adding gambling to the GTA 5 online mode as the Los Santos casino opens after years. Remember…

Mybetting Deals Tools

Surebet by BetBurger

Surebet by BetBurger

BetBurger is a service focusing on arbitrage bets, also known as sure bets. It turns sports betting into an investment.

Matched Betting by OddsMonkey

OddsMonkey

OddsMonkey offers matched betting services with features to enhance your profits with the best betting offers.

Live Sport Results and Statistics

Live Scores

Always keep ahead of the sports betting game with our real time results and statistics!

2000+ Free Slots

Play the best online slots and your favourites from the biggest developers for free right here!