Nobody is preventing PH from defending their actions in this thread. That might include the weak but comprehensible defense that "everyone does it."[/quote]
PH Chris was a regular poster in this thread until PH's deceit was revealed. One of his last postings (July 13th) stated: "Just a reminder that 10k a day is here to stay. We have paid out over $36k in overlays since we started these guaranteed tournaments. The 7pm and 9pm have both been averaging in the mid to upper 30's and certainly offer the best opportunity for overlay." Wow.
Joe tourist comes into poker room sees the sign about the poker tournament. One of the first questions asked is how much does it pay? This lets them sell the tournament with first place will be at least $1,500.
Tourist may not think in terms of overlay ..... but they think in terms of absolute numbers.
_________________ If liberty means anything at all, it means the right to tell people what they do not want to hear. -- George Orwell
Joined: Wed Feb 29, 2012 11:43 pm Posts: 752 Location: Las Vegas
psand wrote:
TheGameKat wrote:
how doing that benefits the PH poker room?
Joe tourist comes into poker room sees the sign about the poker tournament. One of the first questions asked is how much does it pay? This lets them sell the tournament with first place will be at least $1,500.
Tourist may not think in terms of overlay ..... but they think in terms of absolute numbers.
Right but casinos think in terms of overlay and I can't see how the numbers work out for them. Irrespective of how it is funded, a "promotion" should presumably produce loyal (return) customers. This promotion looks more like one of those bizarre farm subsidies the EU used to be fond of that led to butter mountains and wine lakes.
Right but casinos think in terms of overlay and I can't see how the numbers work out for them. Irrespective of how it is funded, a "promotion" should presumably produce loyal (return) customers. This promotion looks more like one of those bizarre farm subsidies the EU used to be fond of that led to butter mountains and wine lakes.
But the casino doesn't think in terms of overlay because there is NO OVERLAY TO PH. They just transfer money from the Jackpot fund to pay it.
And the beauty is that they get to take their vig even when the guarantee has to get paid so they are in effect transferring money from jackpot fund to tournament drop.
One benefit of using the Jackpot funds to pay the overlay is that the casino has no incentive to play games to avoid the guarantee.
_________________ If liberty means anything at all, it means the right to tell people what they do not want to hear. -- George Orwell
Joined: Wed Feb 29, 2012 11:43 pm Posts: 752 Location: Las Vegas
Yes good point, it really shouldn't be called an overlay at all; it's more of a redistribution of funds from cash game to tourney players. Still puzzled tho, the jackpot/promo war chest is the big weapon rooms have in competing for business. Spewing it like this seems silly.
Yes good point, it really shouldn't be called an overlay at all; it's more of a redistribution of funds from cash game to tourney players. Still puzzled tho, the jackpot/promo war chest is the big weapon rooms have in competing for business. Spewing it like this seems silly.
I'm almost afraid to suggest this for fear that someone may decide its a good idea.
But suppose you wanted to move that war chest into the companies pocket ...... might you run a guarantee tournament with a huge vig.
Suppose I have a daily tournament $100 tournament with a field of about 30 players and the house takes $25. House is making $750 and the prize pool is typically $2250.
What if I make it a $2500 guarantee. But the house takes $75 out of every buyin. Now the house drops $2250 if they have 30 players, the players have a slightly higher prize pool .... The house has effectively transfered $1500 from the jackpot fund to its drop.
_________________ If liberty means anything at all, it means the right to tell people what they do not want to hear. -- George Orwell
All tournaments have double guaranteed payouts of $1,200 to first $2,000 overall prize pool. Same tourney times of 10am, 1pm, 4pm, and 7pm. Buy in is $75 and $1 of the buy in is withheld for the promotional fund in the same manner as our cash games.
We will be having a new Royal Flush Promotion with $25K and $50K payouts that will also have a 10K WSOP Main Event freeroll...stay tuned.
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