My Thoughts On The Upcoming PPT
I was reading through Nick's blog and I realized I havent really posted anything community related. Well here is one thing I feel strongly about. Let me know what you think.
The 3 Million PPT. I took a look at their site and the payout is once again a vague system:
Prize Structure
1. The Philippine Poker Tour (PPT) is putting up guaranteed prizes as follows:
a.) Guaranteed Minimum Champions Prize - P1,000,000.00 plus Champion's Bracelet. PPT, may at its discretion, increase the total amount of Champion's Prize. PPT, however, cannot reduce the above minimum guaranteed prize regardless of total number of participants in the Grand Finals.
b.) Total Amount of Three Million Pesos will be distributed to the TOP THIRTY (30) players provided total number of participants in the Grand Finals reaches One Hundred (100). Distribution of prizes is as follows:
CHAMPION
c.) In case total number of participants in the Grand Finals is below 100, PPT may at its discretion adjust the above prize amounts and number of winners. The minimum guaranteed prize for the CHAMPION remains at P1,000,000.00 plus Bracelet and will not be reduced.
if you guys didn't know I was a victim of the epic screw job they did the first PPT. There were over 160+ players who played the P21K buy-in resulting in a pot of over 3.2M. Assuming they take 10% that is still roughly 2.9M pot but they only paid out 1.6M.
Now I feel we have another thing like that in the making and in my firm belief that if Poker is to be a good thing in our country then we should set things straight. If you notice the BOLD text they are already implicitly stating that they do NOT have to increase the payout if there are more then 100 players. They have the authority to take the excess from the pot again since they stated quite clearly on their site.
Now I don't know about that but ignorance is no excuse. I will probably call them and give my opinion on this matter when I come back but I do hope they understand the consequences of what they are doing. I WAS a naive poker player then.... not too good and was looking to get lucky. I am more informed and aware now and I understand what happened previously. It's a shame if history repeats itself.
Its sad as well because it all ties in to the crackdown of the NBI. One legal poker room, very few legal tournament organizers. What is a poker player to do but be robbed in broad daylight or face the prosecution of the NBI.
Thank god for online poker eh?
The 3 Million PPT. I took a look at their site and the payout is once again a vague system:
Prize Structure
1. The Philippine Poker Tour (PPT) is putting up guaranteed prizes as follows:
a.) Guaranteed Minimum Champions Prize - P1,000,000.00 plus Champion's Bracelet. PPT, may at its discretion, increase the total amount of Champion's Prize. PPT, however, cannot reduce the above minimum guaranteed prize regardless of total number of participants in the Grand Finals.
b.) Total Amount of Three Million Pesos will be distributed to the TOP THIRTY (30) players provided total number of participants in the Grand Finals reaches One Hundred (100). Distribution of prizes is as follows:
CHAMPION
c.) In case total number of participants in the Grand Finals is below 100, PPT may at its discretion adjust the above prize amounts and number of winners. The minimum guaranteed prize for the CHAMPION remains at P1,000,000.00 plus Bracelet and will not be reduced.
if you guys didn't know I was a victim of the epic screw job they did the first PPT. There were over 160+ players who played the P21K buy-in resulting in a pot of over 3.2M. Assuming they take 10% that is still roughly 2.9M pot but they only paid out 1.6M.
Now I feel we have another thing like that in the making and in my firm belief that if Poker is to be a good thing in our country then we should set things straight. If you notice the BOLD text they are already implicitly stating that they do NOT have to increase the payout if there are more then 100 players. They have the authority to take the excess from the pot again since they stated quite clearly on their site.
Now I don't know about that but ignorance is no excuse. I will probably call them and give my opinion on this matter when I come back but I do hope they understand the consequences of what they are doing. I WAS a naive poker player then.... not too good and was looking to get lucky. I am more informed and aware now and I understand what happened previously. It's a shame if history repeats itself.
Its sad as well because it all ties in to the crackdown of the NBI. One legal poker room, very few legal tournament organizers. What is a poker player to do but be robbed in broad daylight or face the prosecution of the NBI.
Thank god for online poker eh?
posted by GameFrog at 5:47 PM
17 Comments:
"thank god for online poker eh?"
You can say that again...
What happened before in the 1m Peso guaranteed tournament was a sad event for poker in the philippines because we didn't know any better. However, now... if it happens again then the players are at fault.
Fool me once shame on you... fool me twice... Shame on ______.
Ariel
I'm just gonna play the WPTP event and bypass this tourney just like the first one...
LOL Dr. Blunt thats a good point.
Hehehe ako yung one player para may bracelet ah!! =P
But to be fair... lets ask the right questions and find out people. MAYBE they are doing this the right way now and just need to be open to the public how they will run the tournament.
Ok yung idea mo blunt! hehehe... ako na lang pupunta para may bracelet na ako. =))
11finger, do you know any sattelites for the wptp event this oct? gusto ko subukan. :) Thanks!
If you ask me, PPT's payout structure will be similar to last year's. The very language of the prize info reads like a complex contract. You guys know developing a structure is easy: Tell your players what percentage of the field will be paid, then state the payout differentials by place. Not hard. No need to have disclaimers and IFs and BUTs in your language.
We all played this one last year cuz it was the first of its size. It no longer is, really. Caveat Emptor, and may the best tourneys garner the biggest fields.
We had a huge discussion about this on nick's blog last march(?)
their last big event was a big joke when they insisted on their ridiculous payouts. BUT, we were all warned already simply because they have done it in the past witht heir smaller tournaments. People played it simply because of the 1M prize "carrot" dangled in front of them.
like nick said, payouts are the simplest thing. Pay 10% of the total field, divided by percentages. nobody guarantees FIRST PRIZE, that's just dumb. it's the WHOLE POT that's guaranteed. That way, even first prize can get bigger!
Best thing to do is NOT PLAY. The next best thing is, and i know this will be the case, is to run big six-figure guaranteed pot tournaments at the same time! We'll see where players will want to play by the number seats filled.
did they even say how much of the buy-in goes to rake? most probably not, because your buy-in to them is a whole "fee" to enter the game.
JPT, from what I know most of the Poker Bar Tour run tourney's award a seat for 1st place. I think they also run SNG's 1st place seat, 2nd and 3rd money back. Not sure how often they do that though as it's been quite a while since I went to ACF. If you know the northern area poker place they have satellites for that too... email mo na lang ako for the location and time hehe don't want to mention it here... though I'm pretty sure that place is very very safe from raids...
Great points. But it ties into the raids that have occurred. Do we have organizers who can set up a tournament of this scale (with satellites and all to cater to those with lower bankrolls) and can do it without the risk of raids?
Blunt, pwede bang two players stake natin para me konting excitement hehe... Oh and I always find it funny when they advertise their tourney's as freezeout with rebuys...
LMAO on the freezeout with rebuy thing.
lol yeah that got me so confused when I was starting out....
"freezeout ba ito?"
"yes, with rebuys until level 8"
?????
That is so funny. Freeze-out with re-buys!
I know every sat. the ACF holds satellites for the WPTP tourneys.
yo 11finger, anong email address kita pwede i-email?? Pwede mo din ako add sa ym, yahoo_id ko is dyonard_22.
Thanks!
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