Another final table for Harrahs!

[sirtimo]

read this on thepokerbiz.com

"......Harrah’s finishes 4th in every single WSOP event this year (rake from each tournament is higher than 4th place prize money)............"

wow...just wow... [img]/images/graemlins/shocked.gif[/img]

[Dynasty]

How does that compare to the WSOP when it was run by Binion's? Or WPT events? Or online tournaments?

[Primerib]

Do you think this is supposed to be a non profit event? Do you think it would attract a dealers and staff, which get e piece of the prize pool if it did not make money? Do you think this world famous event would even exist? I wonder why pwople compare it to Binions. It was a 50th the size, and not a great money maker for the conmpany.

[BigAlK]

[ QUOTE ]
How does that compare to the WSOP when it was run by Binion's? Or WPT events? Or online tournaments?

[/ QUOTE ]

Excellent question. I don't know the answer to the B&M question (which is probably more relevant) but on-line is easy enough to answer.

First for the 11K guarantee ($24+2) that is currently in progress. 594 runners ($1188 total rake). 3rd place = $1603.80 and 4th = $926.64. The rake total falls between 3rd and 4th (so I guess rake finishes in 4th).

Looking at the numbers for a $200+16 that has completed (and has a slightly lower rake) I looked at FTOPs event #1 from last month. It had 2573 runners for $41,168 in rake. This is between 2nd and 3rd place money ($57,943.96 and $37,926.02 respectively). I believe this is due to a flatter payout schedule that pays more places in the FTOPs example (about 15% itm vs about 10%).

Edited to add that if it isn't apparent these examples are from Full Tilt. Other sites may vary, but I doubt significantly.

[Quadstriker]

This just in: Poker rooms make a profit.

[MrFizzbin]

[ QUOTE ]
read this on 2+2

"......Poster incapable of doing math just realized that if the casino takes a rake of about 10% and a normal tournament prize structure pays 4th place approximately 8-12% of the total prize pool then the rake is about 4th place
............"

wow...just wow... [img]/images/graemlins/shocked.gif[/img]

[/ QUOTE ]

FYP

In other news all places that pay less than 10% will make less than the casino.

In additional news about 90% of the people that enter a tournament get nothing.

[iversonian]

Compare with the vig at, say, Bellagio's tournaments. I think this WSOP bracelet prestige thing is pretty silly, but hey, it's your money...