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Sleepless in Fulham: Rambling and gambling by David Young
Saturday, 15 July 2006
Where's the value?
Topic: Poker

I've had a lot of people ask me whether I'm going to Las Vegas for the WSOP. I'm not. There are a few reasons for this, including the fact that some American friends of mine are coming to Britain to see me at the same time as the championship event. But even without that, I don't think I would go. The rake in many of the events is quite high. The structures for the cheaper events are poor. I'm stunned to read about the problems that some British players are having with back-taxes. From the sounds of things Harrah's is just plain incompetent. Andy Bloch got a time penalty for pointing out a marked card and destroying it!

Andy Ward appears to have the right idea - just chugging along in the one-table competitions. Lather, rinse, repeat. 

Meanwhile I'm playing in a $200 competition on Paradise that has a $250,000 guarantee. It only got 1,078 runners. That's a shortfall of $34,400.


I added up the prize pool and noticed that it only came to $227,500. I wrote to ask Paradise where the other $22,500 was and was sent this reply:

thanks for your email. In the event that one of our guaranteed tourneys does not meet the guarantee amount through buyins, we will add money to the pool to top it up to meet the guarantee. Please note that the guaranteed prize pool will be raked at 9% as per our T+C's Good luck at the tables and thanks for choosing ParadisePoker! Please let us know if we can be of any further assistance.  

So it's not quite as good as I thought, but they have still lost $11,900. Alas I won't be getting any of it after my KK got busted by AQo all-in preflop. Amazingly over 300 people were knocked out before the first hour was up. I don't they can all have been as unlucky as I was.

_ DY at 11:01 PM BST
Updated: Sunday, 16 July 2006 12:17 AM BST
Post Comment | View Comments (1) | Permalink

Saturday, 15 July 2006 - 11:28 PM BST

Name: "David Young"

I've added up the totals in the payment schedule and they only come to $227,500. It looks like Paradise has taken its standard nine per cent. I've written to ask why.

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